Northern Uranium (NTU)

Shares / Stock Code

NTU

Stock Exchange / Sharemarket

Australian Securities Exchange

Northern Uranium (NTU) is an Australian based company exploring for uranium in Western Australia (‘WA’) and the Northern Territory (‘NT’). Northern Uranium listed on the Australian stockmarket (ASX) in November 2006 (ASX code – NTU) after completing a successful IPO.

The company’s primary focus is on its Gardiner-Tanami Super Project, comprising some 9,950 square kilometres of tenements in the Granites-Tanami region of WA and the NT. Northern Uranium’s other projects also lie within WA and the NT and cover several different styles of uranium mineralisation.

Geologically, the Gardiner-Tanami Super Project area compares favourably with both the Alligator Rivers region in the NT and the Athabasca Basin in Canada, the latter being host to the world’s highest-grade unconformity-related uranium deposits. Worldwide, similarly prospective areas for this type of uranium deposit are rare.

At Northern Uranium, company's exploration strategy involves the rapid development of drill-ready targets via the utilisation of sound exploration models and techniques and a focus on known uranium occurrences. The application of geophysical and remote-sensing technology will enhance the potential for drill success.

In February 2007, Northern Uranium announced the formation of a strategic alliance with the French nuclear group, Areva NC, via its wholly owned subsidiaries, Areva NC Australia Pty Ltd (Areva) and Afmeco Mining and Exploration Pty Ltd (Afmex). Under the terms of the agreement, Afmex has become the operator of uranium exploration and development of the Gardiner-Tanami Super Project (including Denison Range). Areva may provide requested technical services to support Northern Uranium's other exploration efforts in Australia, and Areva will also market any uranium produced by Northern Uranium. In addition, Areva has a substantial shareholding in Northern Uranium and a nominee of Areva has been appointed to Northern Uranium's Board of Directors.

The main focus of the Company’s uranium exploration effort is the Gardiner-Tanami Super Project, which comprises 11,700km² of granted tenements and tenement applications in the Granites-Tanami region of WA/NT. The project capitalises on the experience of French global nuclear group Areva NC, through its wholly owned subsidiary Afmeco Mining and Exploration Pty Ltd (Afmex), the project operator. The vision is the discovery of large, high grade, high value unconformity-related uranium deposits.

Northern Uranium has commenced an investigation of the phosphate potential at its Kurundi Project in the NT. Part of the Kurundi Project tenement package is within the Georgina Basin where sedimentary rocks are known to host several major phosphate deposits, including Duchess-Phosphate Hill in Queensland, and Wonarah and Highland Plains in the NT. Kurundi is an important uranium exploration project for Northern Uranium, the focus being the small but historically high grade (0.5% U3O8) Munadgee uranium mine.

The Epenarra phosphate project, adjacent to Kurundi, is over 2,900km² in area in the Georgina Basin, only 50km from the Wonarah deposit and covering the same favourable geology. The Company has also expanded its interest in phosphate into the Amadeus Basin in an area near Alice Springs. Previous exploration in an area now covered by an adjacent tenement is reported to include records of drilling with intersections of up to 6m at 22.8% P2O5.

Northern Uranium (NTU) Products and Services

  • Uranium exploration

Northern Uranium (NTU) Locations and Subsidiaries

Northern Uranium Head Office
Level 2, 7 Havelock Street, WEST PERTH,
WA, AUSTRALIA, 6005
Phone: (08) 9481 2344
Fax: (08) 9481 5929

Northern Uranium (NTU) Share Price

Submitted by ASX Listed Company on 14 May, 2010 - 21:54

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