Historic site back in focus
Cameron England
Adelaide Advertiser
URANIUM Equities has acquired the mineral lease which contains the historic Nabarlek uranium mine in the Northern Territory.
Uranium Equities and joint venture partner Cameco Australia already have the tenements surrounding the mine.
The newly-acquired lease had not been explored recently and had potential for more uranium finds, the company said.
"The Nabarlek Mine, Australia's highest grade uranium mine, operated between 1979 and 1988, and produced a total of 24.4 million pounds of uranium oxide at an average grade of 1.84 per cent U3O8 (40.5 lb/tonne U3O8)," Uranium Equities said in a statement.
"It lies within the Alligator Rivers uranium province.
"In the immediate mine environment, exploration has not been exhaustive and the potential to generate drill targets at depth and along and across strike is high."
Uranium Equities and joint venture partner Cameco Australia already have the tenements surrounding the mine.
The newly-acquired lease had not been explored recently and had potential for more uranium finds, the company said.
"The Nabarlek Mine, Australia's highest grade uranium mine, operated between 1979 and 1988, and produced a total of 24.4 million pounds of uranium oxide at an average grade of 1.84 per cent U3O8 (40.5 lb/tonne U3O8)," Uranium Equities said in a statement.
"It lies within the Alligator Rivers uranium province.
"In the immediate mine environment, exploration has not been exhaustive and the potential to generate drill targets at depth and along and across strike is high."