Northern Uranium (ASX: NTU) has rewarded shareholders who participated in last month’s renounceable rights issue with the conformation of mineralisation which identifies Heavy Rare Earth Elements (HREE) at Browns Range/
The HREE anomalies will be tested by further exploration activities commencing later this month, along with proposed field work to more accurately define drill targets.
Rock chip samples have been collected from the Wolverine, Gambit and Area 5 North Prospects, to allow Northern to commence a small scale characterisation study of the mineralisation.
The study will investigate the separation and recovery characteristics of rare earths from the Browns Range xenotime mineralisation.
This information is essential in determining the viability of the project.
Northern said initial sizing results are favourable and indicate the liberation size of the mineralisation may be in the relatively coarse at the 100-200 microns range.
With the onset of the northern wet season expected in November, it is anticipated that drilling will commence at Browns Range in the first quarter 2011.
Northern shares are higher in intra-day trading, up 9% to $0.32, well above the $0.16 per share renounceable rights issue, (2 new shares for every 5) conducted just last month.