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NEWERA URANIUM LIMITED - ASX: NRU
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Description
Newera is an emerging Australian minerals exploration company, based in Perth, Western Australia. The Company is currently exploring in the Northern Territory and Western Australia. Newera has focussed on more advanced exploration projects with known uranium mineralisation occurring. However, Newera is constantly reviewing and evaluating significant opportunities of prospective uranium and base metal mineralisation, both within Australia and overseas.
Jailor Bore Project, Western Australia
Newera’s Jailor Bore Project lies approximately 200km NE of Carnarvon and 150km north and slightly west of Newera’s Pells’ Range project. The project comprises three leases, one of which is operated by Newera under a JV agreement and one of which is in application.
The leases cover several prospects. These include at least two limestone hosted carbonate traps on the contact of the Pilbara Craton granites, and terraced calcrete deposits surrounding Willaraddie Creek. A small, low grade resource of calcrete hosted mineralisation with 420t contained U3O8 is excised from the main tenement (EL09/1194).
Newera has identified Carnotite in the limestones. A 4000m RC drilling program to test both the limestone trap at Ben Hur and the calcrete mesa at Willi Creek is in the process of getting heritage clearance from the Gnulli Native Title claimant group. EL09/1298 is the subject of a JV agreement with Coccinella Pty Ltd, Newera believing the limestones and sandstones adjacent to the granite contact on the lease are highly prospective. Newly acquired radiometric data vindicates the companies’ decision, as several anomalies very similar to the Ben Hur prospect are highlighted on the lease. El09/1434 is an application made to the west of EL09/1298, on the more speculative basis that the structures seen in aeromagnetic images that cross the basin floor could possibly be prospective for unconformity type mineralisation, in a manner similar to that seen in the Athabascan Basin in Canada.
Pells Range Project, Western Australia
Pells Range is located near Gascoyne Junction on the Gascoyne River, 170km east of Carnarvon in WA. Initially discovered in the uranium boom of the late 1970’s following some good detective geology searching for roll front deposits in the Carnarvon Basin, the leases host significant identified uranium mineralisation, particularly near Pells Range Well where limited and very broadly spaced drilling has defined an irregular mineralised zone. There are several excellent results from widely spaced reconnaissance drilling (including 2.95kg/t U3O8 from 54m and 2.24kg/t U3O8 from 47m) that were simply never followed up due to the collapse of the boom.
The project comprises EL09/1193 which is granted, and EL09/1386 which in application. Recent geophysical work by Newera has highlighted an excellent target co-incident with most of the best grades in the historical drilling and a drilling program is in the permitting stages.
White Lady Prospect, Western Australia
E25169 is a granted exploration tenement with an area of 66.3 km2 some 41km west of the Quartz Hill project. This has increased Newera’s exposure to the Harts Range region in the Northern Territory.
The White Lady project lies well within the Harts Range metamorphics of the Eastern Arunta Block, in a belt of metamorphosed sediments that are now biotite-sillimanite schists and gneisses. Several large scale pegmatite systems exist on the lease, in similar settings (late stage and mostly cross-cutting the gneissic layering) to the pegmatite systems Newera is exploring on its Quartz Hill Project leases. Like the Quartz Hill pegmatites these have been historically worked for mica and possibly contain uraniferous Rare Earth Element (REE) minerals.
EL25169 has numerous outcropping areas mineralised with copper carbonate (malachite) with co-incident gold showings, with samples collected recently grading up to 8.20% Cu and up to 1.7g/t Au. Previous sampling of many areas including some not visited by Newera returned similarly high results. Carbonate alteration, often associated with mineralisation and destruction of magnetism, is extensive. Newera believes the tenement to be prospective for hydrothermal copper – gold mineralisation and for pegmatitic uraniferous REE minerals, and that the high background in uranium of the host gneissic material suggests the possibility of uranium enrichment.
Cummins Range, Northern Territory
Newera has applied for a single Exploration Licence surrounding a small tenement held by a third party, covering the Cummins Range Carbonatite. A known Rare Earths (REE) resource has been defined on top of the Carbonatite which also contains medium grade uranium mineralisation. A uranium radiometric anomaly crosses the boundary of the third party tenement into Newera's tenement application area. This uranium anomaly remains untested and will provide an early target for exploration should the tenement be granted to Newera.
Mine For
Uranium, Rare Earths
Location of operation(s)
Western Australia, Northern Territory
Address
Suite 5, 2 Centro Ave
SUBIACO, WA, AUSTRALIA
Phone
(61 8) 9382 3100
Website
Last Updated
18/01/2011
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.
