Gets Thumbs Up for Uranium from Geoscience Australia
Sydney, Nov 28, 2012 AEST (ABN Newswire) - Core Exploration (
ASX:CXO) received an independent report by Geoscience Australia which highlights the area covered by Core's Albarta Project in the Northern Territory as being highly prospective for uranium-rich IOCG deposits.
The following comments were made by the Federal Minister for Resources and Energy, The Hon Martin Ferguson AM MP, as he announced the release of the report:
"Based on their deeper knowledge of the area, geologists and geophysicists identified potential for uranium-rich iron oxide-copper-gold deposits in the southern Aileron Province south of Tanami and Tennant Creek", and added, "This area is currently being actively explored for iron oxide-copper-gold mineralisation and has potential as a future mineral province."
Core has built a strong strategic holding in the aforementioned NT region - through joint venture, acquisition and new tenement applications. The Company's Albarta Project covers 2,000km2 within the highly prospective IOCG (Iron-Oxide-Copper-Gold) A1 prospectivity zone of the Aileron province, 100km NE of Alice Springs
Core's tenements cover a number of significant copper, gold, uranium and rare earth element (REE) mineral occurrences (Figure 3). This suite of commodity metals is typical of large IOCG systems in Australia (e.g. Olympic Dam).
About Core Lithium Ltd
Core Lithium Ltd (ASX:CXO) is an emerging lithium producer focused on development of its Finniss Project near Darwin in the Northern Territory. Core owns 100% of Finniss, a major developing project that lies close to existing infrastructure such as the Darwin Port, grid power, gas and rail infrastructure.
The Finniss Project covers a 500km2 tenement holding and 25 historic pegmatite mines. The project area is about 80km from Darwin Port. Exploration work has generated a near term development timeline, with feasibility studies to be completed over the course of 2018 ahead of receipt of approvals in early 2019 and planned first production during 2019.
An aggressive exploration program is under way, which has confirmed the high quality prospectivity across much of the Finniss Project area. Core's stated ambition is to upgrade Finniss' resource base to fast-track commercialisation options.
| ||
|
