Update on Mkuju Uranium Project exploration activity

Gladiator Resources Ltd (ASX:GLA) has reported high-grade uranium interval of 1963ppm at Likuyu North deposit, part of the Mkuju Uranium Project in southern Tanzania. The company has commenced initial assessment of In Situ Recovery (ISR) as a potential mining method for the deposit. The 2022 JORC compliant Mineral Resource Estimate (MRE) for Likuyu North was based on conventional open-pit mining methods, but adoption of ISR may support expansion of the resource.

Executive Commentary on Likuyu North Drill Results

Gladiator's Chairman Greg Johnson expressed excitement about the potential opportunity presented by Likuyu North deposit, citing the high-grade and well-suited characteristics for ISR. The company has appointed ERM Australia Consultants Pty Ltd to advance the ISR strategy, with consideration for larger-scale exploration at Likuyu North, Likuyu South, and the Mtonya deposit area, aiming to maximize the resource for potential ISR operation.

Summary of ISR Assessment and Exploration Drilling

The high-grade uranium interval of 1963ppm at Likuyu North deposit has prompted Gladiator Resources to initiate an assessment of In Situ Recovery (ISR) as a potential mining method. The company aims to consider larger-scale exploration at Likuyu North, Likuyu South, and the Mtonya deposit area to maximize the resource for potential ISR operation. The 2022 JORC compliant Mineral Resource Estimate (MRE) for Likuyu North was based on conventional open-pit mining methods, but adoption of ISR may support expansion of the resource. The company's recent work at Mtonya points to the potential for a large roll-front system being present, indicating a positive outlook for future exploration and development.