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TOP END URANIUM LIMITED - ASX: TEU
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Description
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. Collectively these mineral rights cover over 33,690 sq km encompassing exploration licence applications for approximately 24,000 km and granted exploration licences for approximately 10,000 sq km.
The current and primary focus of TEU’s exploration is unconformity-type uranium mineralisation similar to that which occurs in the East Alligator River Region of the Northern Territory. The secondary focus is alternative models for uranium mineralisation similar to the Westmorland type deposits.
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, 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 Limited retained a 25% interest in the capital of Top End.
McArthur South Project
The McArthur South Tenements area comprises a contiguous group of 9 granted tenements situated in the southern McArthur Basin.
The uranium exploration potential of the McArthur South ELs is based largely on whether Westmoreland Conglomerate and/or Seigal Volcanics occur within the ELs which are located approximately 120 km to the west of the known Westmoreland uranium deposits.
Significant uranium mineralisation has been discovered in the Pandanus Creek / Westmoreland uranium field which is located some 120km east south east of the project area. The uranium mineralisation in this area is primarily hosted in the basal Westmoreland conglomerate and to a lesser degree within the overlying Siegal Volcanics.
Based on a correlation of magnetic responses, it is interpreted that Seigal Volcanics may extend to the west and into the southern tenements of the project area which may indicate the potential for Westmoreland type mineralisation within the project area.
a) Puzzle Creek
In late 2008 a reconnaissance RadonX survey was undertaken targeting interpreted structures intersecting the unconformity between the Seigal Volcanics and the underlying Westmorland Conglomerate in the Puzzle Creek area. This is a well established geological setting for uranium mineralization in the Westmorland area, located 100km to the east. RadonX is a uranium exploration tool which is a refinement of the Radon-on-activated-charcoal technique developed by the South African Atomic Energy Corporation in the 1970's. This initial survey highlighted a number of anomalous Radon gas responses which were followed up by a more detailed RadonX survey in 2009.
The most promising anomalous response was investigated by a trial soil sampling traverse which revealed anomalous responses in a number of elements including uranium and copper. The anomalous soil responses are partially coincident with the Radon gas anomaly. The significance of these results is not fully understood and is being further investigated. A more detailed follow-up soil geochemical survey has been completed and results are awaited.
Arnhem Land Project
The Arnhem Land project area comprises 37 tenements, 8 of which are granted. The project area lies to the east and south east of the East Alligator River uranium deposits and can be separated into a western and eastern limb. Within the western limb, key areas of interest for the Company include Nungbalgarri Creek, Liverpool River and Jimbu. The eastern limb key areas of interest include Mitchell-Flinders and Parsons Range.
Previous exploration for uranium in Arnhem Land occurred in the early 1970's using geochemical sampling techniques and in some instances basic airborne geophysical systems. For approximately 20 years little or no uranium exploration took place. In the mid 1990's exploration recommenced in some areas using more modern exploration techniques.
The Arnhem Land project areas that are closest to the East Alligator River uranium deposits (Ranger, Jabiluka, Koongarra, and Nabarlek) have the highest prospectivity for unconformity-type uranium deposits where the mineralisation is associated with the unconformity at the base of the Kombolgie Sandstone.
a) Western Limb - Areas of Interest within the Arnhem Land Project
The Nungbalgarri Creek area, situated 90km north east of Ranger Uranium Mine, and the Liverpool River area situated approximately 70km east south-east of the Nabarlek Uranium Mine are considered priority target areas for unconformity-type uranium mineralisation. Based on conceptual models there is also potential over a much wider area within the western limb for Westmoreland?type uranium mineralisation associated with mafic and other volcanic rocks occurring at shallower depths within the sediments which overlie the unconformity at the base of the Kombolgie Sandstone.
The Jimbu area, located further to the south and approximately 100km south east of the East Alligator River Uranium Field, is similarly considered prospective for unconformity-type uranium mineralisation. The conceptual targets in this instance are higher in the sedimentary sequence where uranium could potentially be associated with intrusive mafic rocks based on the similarities in geological setting for uranium mineralisation observed in the Westmoreland area.
b) Eastern Limb - Areas of Interest within the Arnhem Land Project
Within the eastern limb area older basement rocks, equivalent in age to the Pine Creek Orogen basement rocks, have been thrust upwards along the Mitchell-Flinders Thrust Belt exposing an unconformity within the overlying sediments which are equivalent in age to the Kombolgie Subgroup sediments. This geological setting is considered analogous to that seen in the East Alligator River area, and hence has potential for unconformity-type uranium mineralisation.
On the western side of the Thrust Belt, the regional NTGS airborne radiometric data reveals an isolated, narrow but well defined uranium only anomaly, associated with the faulted contact between the Parsons Range Group sediments and the Roper Group sediments. This distinct Parsons Range anomaly provides evidence that uranium mineralisation may be present in the sediments well above the basal unconformity.
Yambarra Project
The Tenements within the Yambarra project area lie along a major tectonic zone that links the Pine Creek Orogen to the Halls Creek Mobile Belt, which hosts major mineral occurrences. Similar geological settings within the tenements where Proterozoic aged sediments unconformably overly basement rocks, provide the potential for unconformity type uranium mineralisation.
No exploration specifically aimed at locating uranium has been undertaken on these tenements since the early 1970s. At that time a significant radiometric anomaly known as ‘Door Creek' was investigated. A subsequent NTGS airborne radiometric survey revealed that the source of this anomaly, which is some 5km in length, may be associated with the faulted unconformity between the Fitzmaurice Group Sediments and the basement Hermit Creek Metamorphics.
The Company undertook a VTEM airborne geophysical survey within its Yambarra Project area in 2008. The survey flown by Geotech Pty Ltd comprised a total 500 line km focussing on the priority Door Creek uranium anomaly and associated prospective geological elements. The data from this survey was processed and a detailed interpretation was completed by a geophysical consultant. The purpose of the survey was to identify potential host rocks from which the Door Creek uranium anomaly is derived. The survey resulted in the identification of 6 conductor anomalies, one of which was located upstream of and in close proximity to the Door Creek anomaly.
Door Creek Anomaly
The Door Creek anomaly extends for a distance of almost 5km and appears to be associated with a drainage emanating from the nearby Tom Turner fault, which, in this area, coincides with the unconformity between the Fitzmaurice Group sediments and the underlying older basement rocks.
In addition there is several smaller discrete lower amplitude uranium anomalies nearby, which are directly associated with the faulted unconformity. These responses could represent leakage from uranium mineralization associated with the faulted unconformity.
The close proximity of these anomalies to, and in some instances coincidence with the Tom Turners Fault, is very significant as this is a geological setting that is consistent with the setting of unconformity type uranium mineralisation elsewhere in the Northern Territory.
Ground follow-up of the anomaly which comprised spectrometer traverses and limited auger drilling and sampling has confirmed the anomaly on the ground. Associated sampling failed to produce anomalous U responses indicating that Radon gas may be responsible for the anomaly. Additional field work is planned to further investigate and resolve this target.
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
23/02/2010
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.