UXA starts drilling program at Crystal Creek
Monday, November 16, 2009
Uranium Exploration Australia starts drilling program at Crystal Creek uranium prospect
Uranium Exploration Australia (ASX: UXA) has kicked off an RC percussion drilling program at the Crystal Creek uranium prospect in the Northern Territory.
The company plans to drilling about 40 holes for 2,400m, with most of the holes to be inclined to intersect the steeply dipping uranium mineralised structure and will vary in depth from 40m to 90m.
The drilling program will test the most anomalous portions of the 3,000m long outcrop of the mineralisation, and additional targets identified by the airborne geophysical survey and soil geochemical surveys recently completed.
The Crystal Creek Prospect is located on Exploration Licence (EL) 24566, Ngalia Thrust, approximately 320km northwest of Alice Springs, near Energy Metals Bigrlyi uranium deposit.
In July 2009, the company announced the discovery of a zone of uranium mineralisation which crops out intermittently over a strike distance in excess of 3,000m. Early field sampling with a portable XRF machine indicated excellent U3O8 point concentrations of up to 4,120 ppm.
Also, formal consent has been received from the Northern Land Council, on behalf of the Traditional Owners, for Uranium Exploration Australia to conduct exploration activities on the Companys Nabarlek North and Nabarlek West exploration licence applications in Arnhem Land in the Northern Territory.
Grant of the tenements is expected in early 2010, which will allow UXA to commence field activities at the start of the 2010 field season.
The companys two Nabarlek licences are located close to the old Nabarlek high grade uranium mine and are underlain by a similar geology.
Uranium Exploration Australia, which was last trading around 10.5c on the ASX, was formed to explore for and develop uranium and associated base and precious metal deposits in South Australia and Northern Territory.
definatly stepping up to perform in the next 6 months. watch for breakout above 13c on good volume then it should be on its way with runs on anns if they deliver high u3o8 results which im sure they will. :)
crystal creek has been finished drilling with sample results due by end of december. lets see if they are full of it or full of uranium :) :cool: