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ASTRO RESOURCES NL

ASX: ARO

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Astro Resources NL is an Australian based resources company listed on the Australian Securities Exchange (ASX). The Company has exploration assets throughout Australia, and is actively seeking opportunities across the global resources sector that has the potential of adding significant shareholder value.

Tanami Project (Astro 100%)

The Tanami Project, located in the central-west of the Northern Territory, consists of two (2) tenements currently under application, EL23403 of 976km2 and EL24182 of 128km2. There has been some renewed interest in the Tanami region over the past year including ABM’s excellect results at the Bonanza Prospect, just west of the Granites. As a result, Astro will focus attention on its Tanami Project and will actively pursue the grant of the applications.

The Tanami Project area is underlain by the prospective Dead Bullock and Killi Killi Formations, which are known to host gold mineralisation within the Granites-Tanami district. The broad scale geology exhibits a combination of larger structures and small splays which have the potential to host the numeroud gold deposits typical of the area. The deep crustal Willowra Suture, thought to be the source of mineralising fluids at the Tanami, passes just to the south of mineralising fluids at the Tanami, passes just to the south of the tenements.

Macphee Project

Exploration licence E80/3243 (held by wholly owned subsidiary Macphee Resources Pty Ltd), is located 100 kilometres south of the town of Kununurra in the north-east Kimberley region of Western Australia.

The tenement is bounded by the O’Donnell Ranges in the west and the Ragged Range to the east is covered in outwash sediments and outcrops of proterozoic granite that underlies the majority of the lease area. Uranium mineralisation has been historically recorded in the area with five (5) documented uranium occurrences whose sampling included grades up to 1.04% U3O8. Several radiometric anomalies not coincident with the known mineralisation occur in areas of increased soil cover and the geological structural setting indicates that the area has the potential for both a large tonnage and high-grade uranium resource.

Since acquisition an initial field survey of the project area obtained rock chip samples that returned values of up to 1830ppm U3O8 confirming historically recorded sites, while significant values of 350ppm were recorded at a new, previously unknown site. An aeromagnetic survey commissioned by the Company is due to be completed in the current field season but has already highlighted several radiometric anomalies including a large area occurring in an outcropping granite ridge in the east of the licence area.

Additional lines, in excess of 350 line km are to be flown in the northern area previously flown in order to increase definition in areas of interest.

North Doolgunna Gold Project

In April 2010, Astro completed the acquisition of North Doolgunna Metals Pty Ltd (“NDM”). NDM holds a majority interest (60% via joint venture) in the North Doolgunna Gold Project (the “NDM Project”) consisting of three (3) tenement applications ELA52/2480-2482 located in the prolific Peak Hill Goldfields district. The district is a mineral field with a continuous history of gold discoveries and production dating from the 19th Century to the present day. Significant recent discoveries have again demonstrated the highly prospective nature of the field, with the local area fast becoming a hot spot for emerging resource companies.

Ellendale Project

Tenement E04/1405, held by East Kimberley Diamond Corporation Pty Ltd (a wholly owned subsidiary), is located in the Kimberley region of Western Australia.

The Project is dominated by Palaeozoic sediments and soil cover, lying within the Ellendale lamproite field that is known to contain economic diamondiferous pipes. The Ellendale field is approximately 40km long and 10 km wide and contains over 100 known lamproite pipe intrusions of Miocene age (~20million years) emplaced within the sedimentary rocks. Many of these pipes are diamondiferous, as are the known drainage patterns of the pipe with many paleochannels yielding diamonds. However, despite their occurrences being widely known, the vast majority are underexplored.

Exploration by Astro has included a RepTem Survey interpreted by an independent geophysicist for lamproite / diamondiferous targets. Two (2) target features were delineated. The northern corridor has anomalies within an area of resistive outcropping limestone that appears to be areas of outcrop. In the southern corridor anomalies have been identified, some of which are located in within possible drainage areas and may represent buried targets underlying the material at surface.

Carr Boyd Project

The Carr Boyd Project (tenement application E80/4316) lies approximately 12km north of Argyle diamond mine and abuts the Lower Smoke Creek drainage area, the site of the original diamond finds resulting in the discovery of the Argyle AK1 diamond pipe, and is considered prospective for similar primary diamond intrusions.

Previous exploration covering a portion of the tenement has indicated prospectivity to the southern margin of the tenement, though much of the region has not been subject to modern exploration techniques necessary to determine the validity of historical finds. These finds have included seven (7) kimberlitic chromites, two (2) microdiamonds and two (2) pyrope garnets.

Mine For

diamonds, uranium, copper, gold, lead, zinc

Location of operation(s)

Northern Territory, Western Australia

Address

Ground Floor, 3 Richardson Street
WEST PERTH, WA, Australia

Phone

+61 8 6389 5777

Email

Website


Last Updated

26/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.

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