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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	NUP
Latest Price:	0.04 (2.94% )
52-week High:	0.05
52-week Low:	0.03
Market Cap:	15.73M

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NuPower Resources

NuPower Resources' (ASX: NUP) project portfolio has potential for a number of commodities including Phosphate, Rare Earth Elements (REE's), Uranium and Precious Metals.

NuPower's Arganara Phosphate project north of Alice Springs has the potential to deliver a phosphate resource to the company.

NuPower Resources raises $2.5 million for follow up drilling in NT

Tuesday, March 16, 2010

Northern Territory explorer, NuPower Resources (ASX: NUP) will place 35.4 million fully paid ordinary shares of the company at 7 cents a share to raise approximately $2.47 million before issue costs.

The placement was managed by Bell Potter Securities.

Mick Muir, executive chairman of NuPower said the funds will be used to fund a drilling program to commence at the Cobar II lease in the Westmoreland region as soon as possible.

The company will also undertake additional work at Eva following our high grade results last year, he said.

From drilling undertaken by NuPower in 2009, some truly outstanding assay results were returned from Eva including high grade intersections of: 16m at 13,800ppm U3O8 (30.42lb/t), 8.53g/t Au from surface EVO34 and 21m at 6,000ppm U3O8 (13.23lb/t), 5.32g/t Au from 6m to 27m.

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