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 ASX; EKM
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Company Statement
Eleckra Mines Limited ("Eleckra, Company") was listed on the ASX on 4 July 2006. The Company owns 100% of the Yamarna Gold Project, a sizeable tenement package totalling approximately 3,000km2, covering the majority of the Yamarna greenstone belt. Eleckra's prospective uranium tenement portfolio around the Yamarna region covers an additional area of approximately 2,000km2.
Yamarna is located on the eastern margin of the Archaean Yilgarn Craton in WA, 900km north east of Perth and 140km east of Laverton. The Yilgarn Craton hosts numerous world class gold orebodies and accounts for more than half of Australia's 8 moz annual gold production.
The updated resource for the Yamarna Gold Project was announced on the ASX on 1 September 2008, totalling 749,000 ounces of gold (13.1 mt at 1.78 g/t Au).
In September to November 2009 the Company announced high-grade drilling results from its Central Bore project area, where the high-grade was confirmed over a 500m strike length. The highest grade intersected was 4m at 60.9g/t Au from 64m, incl. 1m at 182.8g/t. Further drilling of the high-grade targets is planned for 2010.
The Company holds several granted tenements and tenement applications that cover sections of the Thatcher Soak calcrete hosted uranium prospect and northern and southern extensions of the Thatcher Soak drainage channel. Thatcher Soak was drilled in the 1970's by previous uranium explorers and carnotite materialisation within a paleochannel drainage system has been delineated within a zone approximately 7.5km long and 200m – 1,000m wide, between 0.5m and 5m in thickness below 1m – 2m of overburden.
The Company announced its maiden uranium resource estimate on 15 September 2008 containing 6.2 million pounds of U3O8 (approximately 2.8kt) (16.1 mt at 174 ppm U3O8).
The Company has applied for 1,100 km2 of new exploration tenements between Yamarna and AngloGold / Independence's Tropicana gold deposit, which we have called "Golden Sands". Regional aeromagnetic surveys and reconnaissance geochemical sampling is planned.
Current Operations
Eleckra has exploration projects in Western Australia.
The Yamarna Project in the Eastern Goldfields, with an approximate area of 3,600km2 is prospective for gold, uranium, iron, chromium, platinum group metals, nickel and copper. The updated resource for the Yamarna Gold Project was announced on the ASX on 1 September 2008, total 749,000 ounces of gold (13.1 mt at 1.78 g/t Au).
Significant sections of the Thatcher Soak calcrete hosted uranium deposit lie within Eleckra's tenements. Recent drilling by the Company has outlined extensive uranium mineralisation within Eleckra's Thatcher Soak areas. The Company announced its maiden uranium resource estimate on 15 September 2008 containing 6.2 million pounds of U3O8 (approximately 2.8kt) (16.1 mt at 174 ppm U3O8).
In September / October 2009 the Company announced high-grade drilling results from its Central Bore project area, where the high-grade was confirmed over a 500m strike length. The highest grade intersected was 4m at 60.9g/t Au from 64m, incl. 1m at 182.8g/t. Further exploration drilling of this high-grade area is planned for 2010.
The Company announced on 31 October 2008 its first pass pit optimisation studies. Sensitivity analysis was performed by varying costs (as at July 2008), process recoveries, gold pricing and various types of processing to assess their impact on optimum pit size. This optimization study has highlighted the sensitivity of the resource to changes in the gold price and operating costs.
The optimisation study demonstrated that the resource could potentially become economic at a sustained Australian dollar gold price above $A1400/oz (this price was achieved briefly in October 2008). The 2008 optimisation indicated that reduction in costs by 10-20 % could significantly increase the project cashflow. The sustained increase in gold price and reduction in costs would have a significant impact on the economics of the Yamarna Gold Project.
The Company's total tenement position within the Yamarna Project comprises 40 granted tenements and 22 applications for exploration licences, prospecting licences and mining leases, covering approximately 3,600km2 in area. These tenements cover most of the Yamarna Greenstone Belt and Dorothy Hills and Mount Venn greenstone belts within Western Australia's Eastern Goldfields.
The Company has been granted 1,500 km2 of new exploration tenements between Yamarna and AngloGold / Independence's Tropicana gold deposit, which we have called "Golden Sands". Regional aeromagnetic surveys and reconnaissance geochemical sampling is planned.
Geographical Spread
Location Map of Yamarna Tenements
Board of Directors and Key Management
| Ian Murray | Executive Chairman |
| Russell Davis | Non-Executive Director |
| Kevin Hart | Non-Executive Director & Company Secretary |
| Ziggy Lubieniecki | General Manager |
Company Address6 Altona Street
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Additional Address/Key ContactPostal Address |
CapitalAs at 31 December 2009
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Annual General MeetingNovember, Perth | Year End30 June |
Major Shareholders
| At 12 February 2010 | |
| Perth Select Seafoods | 5.12% |
| Troyleigh Investments Pty Ltd | 4.14% |
| HSBC Nominees Ltd | 4.04% |
Related News
08/07/10 - Eleckra Is Tantalisingly Close To Declaring That It Has A Mine On Its Hands At Yamarna19/04/10 - Eleckra Mines Hopes To Open Up The Yamarna District As The Fourth Major Gold Belt In Western Australia
05/11/09 - Judging By The Recent Grades, Eleckra Could Be Onto Something Big At Yamarna, Although The The Locals Don’t Seem To Care
27/08/09 - Eleckra Takes A Fresh Look At The Yamarna Gold Project, And Moves It One Step Closer To Production
05/05/09 - It’s Only A Matter Of Time Before Cashed Up Eleckra Mines Returns To The Spotlight
Most Recent Statement
30/07/10 - Quarterly Activities Report and Cashflow Report27/07/10 - Final Central Bore and Hann 1 Metre Splits Assay Results
13/07/10 - Central Bore Drilling Confirms Fourth High-Grade Shoot
12/07/10 - Excellent Gold Recoveries from Central Bore Test Work
05/07/10 - Central Bore Gold Mineralisation Extended to 800m Strike
01/07/10 - Hann Prospect - New Gold Discovery Confirmed