High-Grade Uranium Hits at Nabarlek Project,
High-Grade Uranium Hits at Nabarlek Project, NT
Recent successful drilling program confirms potential for high-grade uranium
mineralisation and provides key insights for ongoing exploration targeting.
Great announcement :shock
SOME GOOD VOLUME GOING THROUGH TODAY!!
I think this could go to 2c quite easily
they also have other interests in ENU 10.5% and Phosenergy who are due to list any day now which we have a 9.1% interest. Phosenergy in JV with Cameco who have already spend a $20M to date
watch this one is going places- WAIT UNTIL THE WIDER MARKET SEES WHATS GOING ON HERE AND IT WILL FLY- WILL BE AN INTERESTING CLOSE THIS AFTERNOON
WATSON :D :D
Have a look at TOE still going.
We should eventually copy this run. :lol:
Looking forward to their continued progress- the director has certainly put his money where his mouth is and holds a huge amount of shares.
These guys are SAVVY and know what they have in Australia's hottest uranium province- I can see this closing much higher in coming weeks
TOP 20 % HOLD 55% of total shares - which is excellent - less available therefore increase in prices if someone wants more than 5 million shares will have to pay more
I reckon they have found some massive Uranium mineralization with extremely high grade -
I'm going to accumulate more also over next few weeks while its at 1.3c
cheers WATSON :D
I personally like this paragraph!!
"The West Arnhem Joint Venture with Cameco represent a near-mine uranium exploration opportunity surrounding the historic Nabarlek Uranium Deposit, which had previous production of 24 million pounds at 1.84% uranium"
I reckon we sitting on an whale of a deposit with some extremely HIGH GRADES TO FOLLOW
wE ALL KNOW THAT HIGH GRADES EQUALL HIGH PROFITS ..
Uranium Equities (ASX:UEQ) has received a number of high-grade uranium results from reverse circulation drilling at its Nabarlek Uranium Project in the Northern Territory, intersecting grades up to 6,000ppm or 0.6% uranium.
Significant uranium results included 7 metres at 2,680ppm from 46 metres with 3 metres at 5,216ppm; and 6 metres at 1,336ppm from 19 metres with 1 metre at 6,073ppm.
The Narbalek drilling is part of its West Arnhem Joint Venture with $8.5 billion Cameco Corporation (NYSE:CCJ) where UEQ has the right to earn 100%.
Assays are hosted in a redox boundary between strongly bleached and pyritic rocks and hematite stained oxidized rocks within the Quarry Fault Zone, and are associated with a zone of cross-faulting along the structure.
These results have provided geological insights into the potential of the broader region to host high-grade uranium deposits, paving the way for the next phase of exploration within UEQs recently expanded 5,000 square kilometre tenement holding in the Alligator Rivers Uranium Field.
The West Arnhem Joint Venture with Cameco represent a near-mine uranium exploration opportunity surrounding the historic Nabarlek Uranium Deposit, which had previous production of 24 million pounds at 1.84% uranium.
Drilling targeted areas of elevated radon anomalism, which is a pathfinder for uranium mineralisation, and focused on an area adjacent to the U40 Prospect, where earlier diamond drilling intersected 6.8 metres at 6.7% uranium from 75 metres.
Interestingly, samples with high uranium also had elevated gold, with a peak result of 1.05g/t, and anomalous platinum and palladium, which is a characteristic of uranium deposits in the Alligator Rivers Uranium Field.
In addition, UEQ has engaged Dr Jon Hronsky, principal of Western Mining Services, for a target generation study.
Dr Hronsky is known for his targeting work which led to the discovery in 2000 of the West Musgrave nickel sulphide province in Western Australia.
With green shoots appearing in the uranium sector in recent weeks, evidenced by increases in the spot uranium price, UEQs ground position in one of the worlds premier uranium provinces should attract market interest.
UEQ may take off today- i think alot didn't see the announcement yesterday so we should get a lift today - thats why it pays to hold ON AS THE MASSES START TO SEE THE POTENTIAL
The wider market are just wakening up to this fantastic result and with Cameco as a partner UEQ will gain much interest over coming months- great tenements and some massive strikes- good to see some exposure near yesterdays close with Proactive investors report on UEQ-
Cheers and good luck to all who had the foresight to get in yesterday - I'm buying more at open today as I expect this will head for mid 1.5c + as we have finally broken downtrend. If the volume is heavy at the opening we could see an open of 1.5c
Big future for UEQ and the emerging renaissance of the Uranium sector makes for solid growth into 2015
WATSON :D :D
The management definitely have "skin in the game" with the director Jon holding millions of shares in UEQ - he is playing big with Uranium assets and has the experience
Centre for Exploration Targeting (CET)
Jon Hronsky has almost 30 years experience in the mining and mineral exploration industry. He is currently a Principal of Western Mining Services (WMS), a consultancy group with offices in Perth and Denver that provides strategic-level services to the global mineral exploration industry. In addition, Jon is a Director of Encounter Resources, a Western Australian focused base-metals junior explorer.
Prior to his current role, Jon was Manager of Strategy and Project Generation for BHP Billitons global mineral exploration group, and before that Global Geoscience Leader for WMC Resources.
Jon graduated with a Bachelor of Applied Science in Mining Geology from the West Australian School of Mines in Kalgoorlie in 1983 and completed a PhD at UWA under Professor David Groves in 1994.
His exploration targeting work led to the discovery in 2000 of the West Musgrave NiS province in WA. Jon was awarded the Gibb Maitland Medal in 2005, the highest award of the WA Division of the Geological Society of Australia and was the 2009 Society of Economic Geology Distinguished Lecturer.
Jon is also Chairman of the board for the Centre for Exploration Targeting. He is also an Adjunct Professor at Macquarie university, Sydney and the Chair of the external advisory group to the CSIRO Discovery research theme, within their Minerals Down Under research flagship.
The Mineral System framework and elucidating the generic unifying factors that govern ore-forming systems
The effective integration of technical geoscientific knowledge with the practical commercial process of mineral exploration to increase exploration success rates
The development of optimum pragmatic targeting methodologies
Mineral exploration management
Look like its going back up again now 1.3c = maybe they found some more high grade uranium :D
THE DIRECTORS OWNS OVER 100 MILLION SHARES - SO THATS SERIOUS SKIN IN THE GAME !
HUGE POTENTIAL I WOULD EXPECT 2C IS A FAIR PRICE! CONSIDERING CAMECO ON BOARD ALSO
tHIS IS WHAT SPURRED THE RECENT RCDrilling and results recently out with high grade strikes confirming a high grade prospect
Uranium Equities (ASX:UEQ) is well leveraged to further recovery in the strengthening uranium price, which appears to have turned at least a short term corner by rising above US$31 per pound in recent days.
A near term price catalyst could be positive results from a 4,757 metre drilling program targeting high grade prospects on its Nabarlek Mineral Lease and West Arnhem joint venture areas.
This drilling was finalised last month and assays are pending.
Notably, UEQ's joint venture partner for this drilling is Cameco Corporation (NYSE:CCJ) which capitalised at US$7.9 billion.
UEQ has another joint venture with Cameco over the 175 square kilometre Rundall River project which adjoins the Kintyre Uranium Deposit in the East Pilbara.
The Kintyre deposit, owned by Cameco and Mitsubishi Corp (TYO:8058), contains 55 million pounds at 0.58% uranium.
UEQ's Nabarlek Project carries the historically profitable Nabarlek Mine, which produced 24 million pounds at 1.84% uranium, and the surrounding exploration licences, again held in joint venture with Cameco.
During the previous quarter UEQ purchased Arnhem Minerals from Spectrum Rare Earths (ASX:SPX) for $625,000.
This expanded its already dominant ground position in the Alligator Rivers Uranium Field in the Northern Territory, taking is acreage in the province to over 5,000 square kilometres.
The prospectivity of the Alligator Rivers province is highlighted by the recent discovery Cameco Australia at Angularli where intersections included 20.2 metres at 5.2% uranium.
UEQ is capitalised at a modest $5.5 million, and recently raised around $750,000 at $0.01 per share.
I bought in for a small investment, can see this taking off in the future hopefully!
On the move.
Great Presentation. :shock :cool:
They need money though but good buying here.
Uranium Equities has raised about $1.2 million before costs through a 1-for-3 non-renounceable rights issue at 8c per share.
A shortfall of more than 64 million shares was placed by the underwriter Taylor Collison.
Well done Tulips...