Gets Thumbs Up for Uranium from Geoscience Australia
Sydney, Nov 28, 2012 AEST (ABN Newswire) - Core Exploration (
ASX:CXO) received an independent report by Geoscience Australia which highlights the area covered by Core's Albarta Project in the Northern Territory as being highly prospective for uranium-rich IOCG deposits.
The following comments were made by the Federal Minister for Resources and Energy, The Hon Martin Ferguson AM MP, as he announced the release of the report:
"Based on their deeper knowledge of the area, geologists and geophysicists identified potential for uranium-rich iron oxide-copper-gold deposits in the southern Aileron Province south of Tanami and Tennant Creek", and added, "This area is currently being actively explored for iron oxide-copper-gold mineralisation and has potential as a future mineral province."
Core has built a strong strategic holding in the aforementioned NT region - through joint venture, acquisition and new tenement applications. The Company's Albarta Project covers 2,000km2 within the highly prospective IOCG (Iron-Oxide-Copper-Gold) A1 prospectivity zone of the Aileron province, 100km NE of Alice Springs
Core's tenements cover a number of significant copper, gold, uranium and rare earth element (REE) mineral occurrences (Figure 3). This suite of commodity metals is typical of large IOCG systems in Australia (e.g. Olympic Dam).
About Core Lithium Ltd
Core Lithium Ltd (ASX:CXO) is an Australian hard-rock lithium company that owns the Finniss Lithium Operation on the Cox Peninsula, south-west and 88km by sealed road from the Darwin Port, Northern Territory. Core's vision is to generate sustained shareholder value from critical minerals exploration and mining projects underpinned by strong environmental, safety and social standards.
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