en.Wedoany.com Reported - Cauldron Energy Ltd (ASX:CXU) has updated its JORC-compliant exploration target for the Yanrey Uranium Project in Western Australia, with a new estimated triuranium octoxide (eU₃O₈) resource range of 89.7 million to 269 million pounds, further highlighting the project's scale potential.
The revised target covers a subset of the western Yanrey tenement area, extending from the Northwest Coastal Highway to the Ashburton River, encompassing a total of 30 discrete prospective targets. The new target integrates drilling results from 2024 and 2025, along with passive seismic survey data completed between 2024 and 2026. It should be noted that this exploration target is independent of Cauldron's existing Yanrey resource of approximately 55 million pounds of uranium oxide, with portions already classified as JORC resources excluded.
In terms of specific magnitudes, the low-end estimate is 130 million tonnes of ore at a grade of 294 ppm eU₃O₈, corresponding to 90 million pounds; the high-end estimate is 390 million tonnes of ore at a grade of 604 ppm eU₃O₈, corresponding to 269 million pounds. Cauldron emphasized that this estimate remains conceptual in nature and cannot be considered a mineral resource until further exploration is conducted.
Cauldron CEO Jonathan Fisher stated that the updated exploration target reflects the company's significant investment over the past two years in improving its geological understanding of Yanrey, including drilling, passive seismic surveys, historical data review, and exploration model optimization. He noted that the Yanrey area has demonstrated abundance in uranium mineralization suitable for in-situ recovery (ISR), and this exploration target quantifies that potential to some extent. Combined with the existing JORC resource base, Yanrey has the potential to become one of the world's largest uranium projects.
According to plans, multiple targets within the revised target have been included in this year's drilling program, expected to commence next week (subject to weather conditions). Fisher said that as work progresses, the company will continue to refine its exploration model and geological understanding of the area.
The Yanrey Project is located approximately 100 kilometers south of Onslow, comprising 21 granted exploration licenses and 5 exploration license applications, covering a total area of approximately 1,493 square kilometers, extending over 80 kilometers along the Early Cretaceous coastline.
To date, Cauldron has confirmed over 55 million pounds of uranium oxide across three deposits at Yanrey (Bennet Well, Manyingee South, and Manyingee North).
In capital markets, Cauldron was recently included in the Sprott Junior Uranium Miners ETF (NASDAQ:URNJ), thereby expanding its exposure among institutional and uranium-focused investors. As of June 18, 2026, URNJ held 18,454,935 fully paid ordinary shares of Cauldron, with a market value of US$1.55 million; the ETF holds a total of 41 stocks, with a total investment value of US$385 million. URNJ primarily invests in small and mid-cap uranium exploration and development companies, tracking the Nasdaq Sprott Junior Uranium Miners Index.
This inclusion in the Nasdaq ETF follows Cauldron's addition to the BetaShares Global Uranium ETF (ASX:URNM) and the Sprott Uranium Miners UCITS ETF (LSE:URNM) in the same quarter. Public disclosures show that as of June 18, 2026, BetaShares held 46,365,877 shares; as of June 17, 2026, HANetf held 71,131,382 shares. Fisher stated that inclusion in URNJ gives Cauldron access to a broader investor base and is a strong endorsement of the company's progress and positioning in the uranium sector.
