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TOP END URANIUM LIMITED - ASX: TEU
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Description
Top End Uranium Ltd was incorporated on 23 May 2007 as a wholly owned subsidiary of North Australian Diamonds Limited. Top End Uranium Ltd (“Top End”) is a uranium focused exploration company which has mineral rights over a number of prospective uranium regions in the Northern Territory of Australia.
Top End Uranium Ltd was successfully spun-out from its parent company, North Australian Diamonds Limited via an initial public offering (“IPO”). Pursuant to the IPO, Top End raised approximately $9,000,000. Following the completion of the IPO and subsequent ASX listing of Top End on 3 December, 2007, North Australian Diamonds Ltd. retained a 25% interest in the capital of Top End and has since purchased a further 6%.
TEU's secondary focus is alternative models for uranium mineralisation especially those of the Westmoreland-type where uranium mineralisation occurs at higher levels within the sediment-volcanic pile that overlies the basal unconformity.
The Company's tenements are in three separate areas of the Northern Territory all of which are considered to have potential to host uranium mineralisation:
1. The McArthur South Project area lies midway between Darwin and Mt Isa. The Exploration Licences ("ELs") over which TEU hold uranium rights potentially cover lithologies which host uranium mineralisation at Westmoreland which is located 120km east of the project area.
2. In Arnhem Land, TEU holds uranium mineral rights over a number of ELs that occur on the Arnhem Shelf along the western margin of the McArthur Basin within 100 km of the East Alligator River uranium field. Uranium rights are also held over additional potentially prospective ELs which are located along the eastern margin of the McArthur Basin. Collectively, these areas comprise TEU's Arnhem Land Project. Reconnaissance stream sediment geographical samples taken on three granted tenements in Arnhem Land in early 2010 have reported anomalous gold responses of up to 122ppb.
3. In the Daly River Region of the Northern Territory, TEU's Yambarra Project comprises uranium exploration rights over a group of ELs which lie along a major tectonic zone that links the Pine Creek Orogen, one of Australia's richest mineral fields to the Halls Creek Mobile Belt.
Mine For
uranium
Location of operation(s)
Northern Territory
Address
Level 8, 580 St Kilda Rd
MELBOURNE, VIC, AUSTRALIA
Phone
(61 3) 8532 2800
Website
Last Updated
21/01/2011
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.
