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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	TUC
Latest Price:	0.15 (-9.38% )
52-week High:	0.27
52-week Low:	0.13
Market Cap:	18.04M

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TUC Resources

TUC Resources (ASX: TUC) is a resource development company whose focus is the commercialisation of mineral assets. The Company currently holds 16,000km² of ground across the Northern Territory of Australia.

Territory Uranium confirms continuity of rare earth mineralisation at Quantum

Monday, November 15, 2010

Territory Uranium's(ASX: TUC) diamond drilling program has confirmed the continuity of significant rare earth (REE) mineralisation at its exciting Quantum prospect, with an intersection of 2.3m @ 2.75% Total Rare Earth Oxide (TREO) being returned 100m down dip of previously reported zones.

Concentrations of the most valuable rare earths (Nd+Dy+Pr+Eu) in this new intersect are at 15%. Further significant results have been returned from TDD8, extending a previously reported broad intersection to a total zone of 50m @ 1.55% TREO from 245m.

On October 26, Territory's drilling program returned Total Rare Earth (TREE) grades of up to 9.7% after further analysis of recently reported intersections at the Quantum prospect in Pine Creek, Northern Territory.

Highlights include:

- TDD9, 2.3m @ 2.75% TREO from 374m.
- TDD8, 50m @ 1.55% TREO from 245m (new results extend previously reported TDD8 broad zone of 33m @1.76% REE from 246m).

Geological continuity is apparent between drill intersects. Fault structures identified from airborne magnetic and airborne radiometric interpretation infer that the mineralised system has 4km strike length, providing a further dimension in relation to the exploration potential of the system.

Drilling remains open along strike and up and down dip. Distribution of valuable REO percentages within the intersects continues to be comparable to other quality deposits.

Average proportions within the TDD8 and TDD9 intersects are Neodymium (Nd) 11%; Praseodymium (Pr) 4%; and Dysprosium (Dy) + Europium (Eu) 0.2%; with a total combined percentage for these elements being +15%.

Mineralisation has been identified on a footwall structure in TDD8, with assays returning 32m @ 0.38% TREO from 389m. Multiple zones of REO mineralisation provide further exploration upside.

Territory Uranium are now planning a significant follow up drill program at the REE discovery at Quantum.

TUC has a market capitalisation of A$29.56 million and had A$1.32 million cash at the end of the September quarter.

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