Sydney, Oct 19, 2007 AEST (ABN Newswire) - A1 Minerals (ASX: AAM) has been advised by Joint Venture Partner Oklo Uranium Limited (Oklo)(ASX: OKU) that following a review of radiometric data by independent consultants the exploration significance of three major exploration targets has been confirmed.
Background to Project
A1 owns 100% of the Narnoo Exploration Project. The Narnoo tenements are within a region with demonstrated uranium prospectivity. Most of these tenements lay immediately to the north of the Mulga Rocks uranium deposit and include the same palaeo-drainage system.
Recently listed Oklo Uranium is earning 70% of the uranium rights by spending $1.2 million and has completed an airborne geophysical survey which has revealed very promising and significant radiometric anomalism.
Oklo have advised that following a review of radiometric data by independent geophysicists, the exploration significance of three major uranium targets has been confirmed. In addition, the analysis has uncovered a number of additional uranium targets within Narnoo Uranium joint venture.
The Oklo announcement is attached for reference.
John Williams B.Sc, MAusIMM
Managing Director
The information in this report that relates to mineral exploration is based on information compiled by Mr John Williams and Mr Tony Ryall both of whom are members of the Australasian Institute of Mining and Metallurgy. Mr Williams is a Director and full time employee of A1 Minerals Limited and Mr Ryall is a self employed independent geological consultant. Both Mr Williams and Mr Ryall have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (JORC Code).
Mr Williams and Mr Ryall consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Independent Geophysical Report Validates Significant Uranium Targets at Oklo's Narnoo Uranium Project, Western Australia
Southern Geoscience Consultants (SGC) processing and interpretation of Narnoo radiometric and aeromagnetic data has confirmed the exploration significance of three major anomalies, Lightfoot, Lightfoot South and Lake Minigwal South;
- The SGC report also identifies several additional targets within the Narnoo Project area;
- The Lightfoot South and Lightfoot anomalies bear technical comparison with other "Playa Lake" style uranium deposits such as Hinkler's Well and Centipede (Lake Way) and the Lake Raeside and Lake Maitland uranium prospects;
- Oklo is currently satisfying all statutory requirements ahead of undertaking an extensive drilling programme scheduled to commence early in 2008.
- This independent interpretation of the survey data has further strengthened Oklo's confidence that the Narnoo property is highly prospective for significant uranium deposits.
Australian based uranium company Oklo Uranium Limited ("Oklo" ASX: OKU) advises that following a review of radiometric data by independent consultants Southern Geoscience Consultants (SGC), the exploration significance of three major uranium targets has been confirmed. In addition, the analysis by SGC has uncovered a number of additional uranium targets within its Narnoo Project in Western Australia.
The data used for the study was from Oklo's proprietary magnetics-radiometrics-digital terrain survey, which was conducted in June 2007. Following the completion of the survey, three large uranium targets were identified from the initial in-house analysis and announced to the market in July 2007.
From the SGC interpretation of the data, these anomalies have been prioritized and substantiated as genuine targets. Additional highly prospective anomalies in the area have also been identified by SGC. SGC's interpretation of the data has concentrated on the identification and characterisation of potentially significant radiometric anomalies within the present day and palaeo drainage systems within the Lightfoot, Lightfoot South and Lake Minigwal South prospect areas of the Narnoo project.
The larger lakes within the Lightfoot and Lightfoot South drainage systems also represent zones of large scale, strong but somewhat variable uranium channel radiometric anomalism. These typically have low to moderate associated thorium channel response. These lakes, particularly the Lightfoot South system show a distinctive association with elevated potassium channel response.
The SGC report also indicates it is possible significant uranium mineralisation could be obscured beneath a thin veneer of alluvium within some of the drainages in the area and as a result, recommends Oklo undertake further assessment of the potential of the sections of the main drainage systems that do not display obvious uranium radiometric activity from the initial survey data.
Ross Brown, Oklo's Managing Director, said "These targets, which now are independently confirmed as genuine uranium targets, means that Oklo will move to undertake a drilling campaign, in early 2008, to determine the sub-surface extent of uranium mineralization that might be associated with the uranium-band radiometric anomalies that have been identified."
Oklo's Narnoo project is situated approximately 150 km to the south-east of Laverton, Western Australia, towards the eastern edge of the Yilgarn Craton. The project is operated under a commodity-based Joint Venture with A1 Minerals, with Oklo earning 70% of the uranium rights of the tenements owned by A1 Minerals Limited (ASX: AAM) by spending $1.2M over a two-year period. A1 Minerals had previously acquired the ground to explore for gold and nickel.
The information in this report that relates to Exploration Results is based on information compiled by Mr. Ross Brown, Managing Director, Oklo Uranium Ltd., who is a Member of the Australian Institute of Mining and Metallurgy. Mr. Brown is a full time employee of Oklo Uranium Ltd. He has sufficient experience, which is relevant to the style of mineralization and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined by the 2004 edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Brown consents to the report being issued in the form and context in which it appears. The information in this report that relates to Exploration Results is also based on information compiled by Mr. Nigel Maund, Exploration Manager, Oklo Uranium Ltd., who is a Member of the Australian Institute of Mining and Metallurg and the UK Institution of Mining, Metallurgy and Materials. Mr. Maund is a full time eployee of Oklo Uranium Ltd. He has sufficient experience, which is relevant to the style of mineralization and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined by the 2004 edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".
Mr. Maund consents to the report being issued in the form and context in which it appears.
Ross Brown, Managing Director
Oklo Uranium
Phone: +61-8-9386-4003
Email: rbrown@oklouranium.com
About Aumega Metals Ltd
Aumega Metals Ltd (ASX:AAM) is a gold exploration company focused on growing its two properties, Cape Ray Shear Zone and Hermitage.
About Oklo Resources Ltd
Oklo Resources Ltd (ASX:OKU) is an exploration company with gold, uranium and phosphate projects located in Mali, Africa. The Company's focus is its large landholding of eight gold projects covering 1,389km2 in some of Mali's most prospective gold belts. The Company has a corporate office located in Sydney, Australia and an expert technical team based in Bamako, Mali, led by Dr Madani Diallo who has previously been involved in discoveries totalling in excess of 30Moz gold.
