Northern Uranium (ASX: NTU) is an established Australian exploration company primarily focussed on Uranium and Rare Earth exploration and development in Western Australia and the Northern Territory.
Northern Uranium identifies strategic rare earth element targets at Gardiner-Tanami project
Uranium exploration and development company Northern Uranium (ASX: NTU) has reported significant REE targets at its 100%-owned Gardiner-Tanami project, following the identification of unusually high concentrations of HREE in hydrothermal quartz-xenotime mineralisation in the Browns Range Dome area.
Shares in Northern Uranium increased 6.1% to 17.5c during the afternoon trade.
Recently completed studies by project operator Amfex have confirmed the potential of the Browns Range quartz-xenotime mineralisation.
Northern Uranium Executive Chairman Kevin Schultz said the Company was proposing a significant focus of exploration activities in this area in 2010 in tandem with the on-going uranium exploration program on its flagship project.
“The HREE discovery represents an exciting avenue for additional value at the Gardiner-Tanami project, alongside our core uranium focus,” Mr Schultz said.
“With rare earths now at very high prices as a consequence of the recent imposition of export quotas by the world’s dominant producer China, the Browns Range area presents an attractive target for REE exploration.
“Rare earths are vital in such high-tech developments as hybrid cars, wind turbines and lowenergy light bulbs, and their strategic importance in a world embracing green technology has also raised our level of interest in further exploring these occurrences."
Xenotime, a yttrium and rare earth bearing phosphate mineral, in the Browns Range Dome area was first identified in the 1980s by PNC Exploration while exploring for uranium.
Afmex, as the operator for Northern Uranium’s uranium exploration program since 2007, also encountered previously unknown quartz-xenotime mineralisation 4km to the north-northeast of Area 5 Prospect.
Area 5 Prospect is located on the western side of the Browns Range Dome, a Paleoproterozoic dome formed by a granitic core intruding the Paleoproterozoic “Browns Range Metamorphics” and an Archaean orthogneiss and schist unit to the south.
After the initial reconnaissance promising areas will be selected for detailed geological and structural mapping, rock chip sampling and ground radiometrics. Follow-up in areas of interest will include detailed geochemical soil sampling and/or systematic detailed ground radiometrics to outline potential drill targets.
Northern Uranium has a strategic alliance with the French nuclear group, Areva NC, via its wholly owned subsidiaries, Areva NC Australia Pty Ltd (Areva) and Afmeco Mining and Exploration.
Areva, which has a substantial shareholding in Northern Uranium, is the operator, through Afmex, of uranium exploration and development of the Gardiner-Tanami Project, and will also market any uranium produced by Northern Uranium.
The Gardiner-Tanami project covers an area of approximately 11,000km2 centred on the WA-NT border 200km southeast of Halls Creek. Northern Uranium and the project operator Afmex have been exploring for unconformity-related uranium deposits in the area since 2007.
