Hotcoooper......Ausiland
ASX ANNOUNCEMENT 30 MARCH 2007
NuPower Resources Ltd. (ASX: NUP)
LUCY CREEK URANIUM PROJECT, NORTHERN TERRITORY
Drilling intercepts 4.0 metres @ 0.36lb/t U3O8 at the Lucy Creek Project located in the Northern Territory
of Australia.
NuPower is pleased to announce the initial results of the first round of reverse circulation percussion (RC)
drilling at its 100% owned Lucy Creek Project, located 270km northeast of Alice Springs in the Northern
Territory. Drilling was carried out by Arafura Resources late in 2006 prior to the recent demerger of
Arafura’s Portfolio of uranium assets into NuPower.
The drilling has confirmed the presence of economically interesting uranium mineralisation at the prospect
that warrants continued exploration.
Sixty shallow (4-55 metres) vertical RC drill holes were completed for a total of 1712 metres to test a
series of uranium anomalies from a high-resolution low level airborne radiometric survey completed by
Arafura in December 2005. Arafura’s survey was undertaken to follow up a regional radiometric survey
completed by the Northern Territory Geological Survey in 2004 that revealed a diffuse zone of uranium
anomalism in the Lucy Creek area.
The high-resolution survey identified a series of segmented, uranium-only, anomalies extending over an
area some 6.5km long by 300-1200m wide. The survey returned uranium-channel values of over 900
counts per second (cps) above a background of 50cps. The anomalies are underlain by shallow dipping
Cambrian sediments on the southern margin of the Georgina Basin and some coincide on the ground with
a series of ferruginous caps and a dissected well developed weathering profile.
Prior to the drilling, assays of thirteen reconnaissance rock samples taken from the southern part of the
anomaly of intensely weathered, ferruginous and kaolinised siliceous rocks confirmed the presence of
uranium mineralization with assays up to 566ppm U3O8 (1.25lb/t U3O8), associated with waverlite
(aluminium phosphate) with phosphorus (P) assays up to 12.8% P, 29.3% P2O5) and turquoise (copper
aluminium phosphate) with copper (Cu) assays up to 7040ppm Cu. Potassium and thorium assays were
low, consistent with the results of the radiometric survey.
The 2006 drill holes were sited to test selected parts of the radiometric anomaly. Samples were selected
for assay based on their radioactivity determined using a hand held scintillometer. A total of 1410 samples
were assayed comprising 603 one-metre samples (greater than 300 cps) and 380 composited 2m and 3m
(200-300 cps) samples. Samples were assayed principally for uranium and thorium.
Significant results, greater than 100ppm U, are summarized as follows:
�� LCRC027: 4.0m @ 163ppm U3O8 (0.36lb/t U3O8) from surface,
including 1.0m @ 272ppm U3O8 (0.60lb/t U3O8) from surface.
�� LCRC045: 1.0m @ 123ppm U3O8 (0.27lb/t U3O8) from 3.0m
�� LCRC058: 1.0m @ 157ppm U3O8 (0.35lb/t U3O8) from 6.0m
Thorium assays are low. Results for the composite samples are still awaited.
Scintillometer readings from drill hole LCRC027 were the highest from the entire program and were in the
range of 1000-3000 cps throughout the entire length of the hole (40 metres). When compared with these
readings, the uranium assay results from this drill hole appear very low and it is considered that the
radioactivity is derived from residual daughter products generated during decay of uranium which has
since been remobilised, possibly during weathering.
The natural radioactive decay of uranium leads to the formation of radioactive daughter elements some of
which are insoluble and remain fixed during weathering. Uranium however is readily soluble in nearsurface
weathering environments and may be leached out. This phenomenon is referred to as uranium
disequilibrium. Radiation from uranium daughter elements, rather than from uranium itself, is generally
detected by instrumentation used in airborne and ground radiometric surveys.
Before further drilling is planned at Lucy Creek NuPower expects to undertake further assay work for
uranium decay products to determine to what extent these results are caused by weathering and uranium
disequilibrium. Further assaying of the remainder of the samples will be undertaken to determine whether
the remobilised uranium is in those parts of the drill holes exhibiting lower radiometric response.
Further drilling is planned to locate zones of primary uranium mineralisation where the daughter elements
are still in equilibrium with the uranium and to locate suitable chemical traps elsewhere within the
stratigraphy where the remobilised uranium has been deposited. The potential for remobilized uranium to
be trapped in unconsolidated alluvial sediments in palaeochannels down stream from the source area at
Lucy Creek will also be assessed. Detailed mapping will also be undertaken to provide a better
understanding of the local geology. |
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