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Market: ASX
Sector: General Mining
Epic: ASX:TUC
News: Latest news
Web Site: Territory Uranium
Other Articles: 24-11-200916-10-200923-09-2009

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Territory Uranium

Territory Uranium

Territory Uranium is a Northern Territory based mineral exploration company that hold a total of 40 tenements (21 granted and 19 applications) covering more than 26,300km² of the Northern Territory.

Tuesday, November 24, 2009

Territory Uranium unveils significant drill results at Energy Prospect

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Territory Uranium (ASX: TUC) has reported that significant drill results outline continuous uranium mineralisation at the company's Energy Prospect in the Northern Territory

Assay results so far have returned uranium mineralisation with widths up to 10m at the base of a brecciated sandstone unit above siltstones and carbonaceous shales.

The best results include 2m @ 506ppm U3O8 from 1m and 3m @ 461ppm U3O8 from 5m. Both are an envelope of 7m @ 394ppm U3O8 from 1m in hole TURC64, including 3m@ 405ppm U3O8 from surface in hole TURC71 and 2m @ 445ppm U3O8 from 5m in an envelope of 10m @ 313ppm U3O8 from 1m in TURC70.

Mineralisation is continuous on drill section, and open along strike between ~600m spaced sections and down dip. Assays remain pending for 9 holes from this first phase of drilling. Gamma-ray scintilometer readings for some of these holes gave positive indications of uranium mineralization.

The Energy Prospect is the first uranium occurrence discovered in the younger mid Proterozoic rock sequences on Territory's ground and is unusual in the region.

The results have important implications towards the investigation of other as yet untested radiometric anomalies on Territory Uranium's Daly River tenement holdings.

Initial indications of grades are comparable to those of other significant shallow deposits in the Northern Territory such as Napperby Well.

Further infill extensional and step out drilling is being planned.

Territory Uranium holds approximately 20,000km2 of prospective land package across 48 (29 under application) tenements making it one of the biggest ground holders in the Northern Territory.

Although the company has a primary focus on Uranium exploration, the business currently holds nine consolidated project areas across several key geological and metallogenic terrains, affording it the opportunity to diversify exploration into gold, base metals and other commodities.

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