A secondary exploration target at Mt Denison is sediment-hosted uranium mineralisation in Mesozoic and younger sediments which unconformably overlie the Proterozoic basement. GB Energy believes Mt Denison has all the components for sedimentary uranium deposition:
- Source: radiogenic basement outcropping at Peake-Denison Ranges;
- Path: thick sequences of gently dipping, porous sandstone adjacent to source; and
- Trap: confining shale formations and reduced components in sandstone (pyrite, organic matter).
GB Energy has completed detailed ground gravity and airborne magnetic / radiometric surveys over the project area identifying several targets of interest beneath sedimentary cover.
In late 2016, the Mt Denison Copper-Gold-Uranium project was awarded $200,000 in PACE Discovery Drilling co-founding from the Government of South Australia.