Perth, Mar 17, 2008 AEST (ABN Newswire) - Northern Uranium Limited (ASX: NTU)(PNK: NOURF) is pleased to announce promising exploration results from the Company's flagship Gardiner-Tanami Super Project, which straddles the Western Australia / Northern Territory border.
Systematic exploration across granted tenements within the 11,700km2 project has identified four highly prospective target areas, with potential for high-grade, unconformity related uranium.
These targets have been prioritised for drilling next quarter by project operator and Northern Uranium alliance partner, Afmeco Mining and Exploration Pty Ltd ('Afmex'), a subsidiary of the major French nuclear group Areva NC.
The exploration program has included airborne magnetics, radiometrics, VTEM and hyperspectral surveys over the granted tenements, which comprise only 16% of the total project area. Further testing will be conducted over the remainder of the area as new tenements are granted.
Highlights of results to date include:
- Four target areas with potential for high-grade, unconformity-related uranium
- Highest priority area Oracle-Soma, WA
- Extensive surface uranium radiometric anomalies coinciding with VTEM conductors
- 1980s rock-chip assay results up to 220ppm uranium will now be more effectively followed up with drill holes targeting the VTEM conductors
- Proximity to "The Don" 1980s primary uranium-gold discovery in adjacent tenement
- Second highest priority area Lewis Creek North, WA
- Extensive surface uranium radiometric anomalies and several VTEM conductors on favourable structures at or near the unconformity.
- Primary uranium mineralisation discovered in 1980s on adjacent tenement.
Other priority target areas Suplejack NT and Denison Range WA to be further defined with ground exploration ahead of drilling.
Northern Uranium Executive Chairman, Mr Kevin Schultz said Afmex's exploration effort has been focused on pinpointing the highest quality drill-ready targets.
"We are now in a position to move the project forward to the drilling stage in these high priority target areas, and expect to start the first of a series of holes in the next quarter," Mr Schultz said.
Commenting on Afmex's 'whole of project' approach Mr Schultz said it reflects their experience and success in the Athabasca Basin in Canada. "The results are highly encouraging, and we are obviously excited about the quality of targets identified to date. We can now invest resources into drilling the highest priority targets to deliver maximum impact and value to shareholders," he said.
The exploration program has also succeeded in identifying targets for further definition and drilling at the nearby Denison Range project where the Company is earning an initial 60% interest. Targets there now include both breccia-complex style copper-gold-uranium and unconformity-related uranium.
Afmex's Operations in the Gardiner-Tanami Super Project
Located 200km southeast of Halls Creek in the Tanami region of Western Australia and the Northern Territory, the Gardiner-Tanami Super Project consists of 44 tenements and tenement applications covering an area of approximately 11,700km2. Geologically, the area compares favourably with both the Alligator Rivers region in the Northern Territory and the Athabasca Basin in Canada, the latter being host to the world's highest-grade unconformity-related uranium deposits. Unconformity-related deposits make up approximately 33% of the world's inventory of uranium resources and 20% of Australia's.
Unconformity-related uranium deposits are typically formed by the mixing of oxidized basinal uranium-bearing brines, at or near an unconformity, and reduced basement fluids, associated to distinctive basement rocks ('graphitic metapelites') within fault structures / zones of brecciation, where redox reactions favor the deposition of high grade uranium mineralization. The geology of the Gardiner-Tanami area, and evidence from past exploration, have established that the project area exhibits key elements for such unconformity-related uranium deposit. Exploration is therefore aimed at discovering sub-surface sites where conditions were favourable for fluid mixing and redox reactions.
In 2007 Afmex's team implemented airborne magnetics, radiometrics, VTEM (Versatile Time-Domain ElectroMagnetics), hyperspectral surveys and helicopter-supported ground reconnaissance mapping and sampling on granted tenements only in the first phase of systematic exploration of the vast area.
The results of the airborne magnetics surveys assist in the understanding of geology and structures, and the radiometric results ensure a focus on uranium. The magnetic and radiometric data were acquired along closely spaced flight lines using modern technology, a significant advance over similar work done in the 1970s and 1980s.
The VTEM system utilises modern advances in digital electronics and signal processing and has been designed for deep penetration, high spatial resolution, excellent resistivity discrimination and detection of weak conductive anomalies. VTEM has been successfully used by Areva in the Athabasca Basin to locate unconformity-related uranium mineralisation associated with graphite.
The airborne hyperspectral survey enables the mapping of alteration minerals typically associated with unconformity-related uranium deposits.
The 2007 airborne surveys were followed by helicopter-supported reconnaissance mapping and rock chip sampling. All geophysical data from surveys conducted in 2007 were then processed and interpreted by an Afmex in-house geophysicist. Target areas were then nominated where the various elements of the exploration program coincide, giving the most favourable indications of potential for uranium discovery.
The four principal target areas have been identified as warranting follow up to the stage of drilling. Other areas such as Browns Range and the Tango and Deva prospects also require further follow-up work, but at this stage of the exploration program are considered a lower priority.
Denison Range Project (Northern Uranium earning 60% - Afmex operator)
The Denison Range Project began as a conceptual exploration target area for breccia-complex style copper-gold-uranium deposits (Olympic Dam type). The target was based on the interpretation of late stage tectonic activity in the region and the presence of a buried magnetic anomaly defined by wide-spaced regional government data. Grass roots regional geochemical surveys by previous explorers located anomalous copper and gold that may represent pathfinder elements to a major buried mineral deposit.
Afmex's 2007 geophysical program over the area located unexpectedly strong VTEM conductors adjacent to the magnetic anomaly. The concept of breccia-complex hosted copper-gold-uranium deposits associated with hematite and/or sulphide-rich mineralisation will be re-evaluated in the light of these new data. Targets may also include unconformity-related uranium.
Contact
Kevin Shultz
Tel: 08 9481 2344
Fax: 08 9481 3031
Email: info@northernuranium.com.au
Web: www.northernuranium.com.au
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