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Territory Uranium Intersects Further Uranium Mineralization At Energy Prospect, Northern Territory

EBR Staff Writer Published 16 December 2009

Territory Uranium Company Limited (Territory Uranium) has reported the first phase reverse circulation (RC) drilling results at Energy Prospect, Northern Territory.

The new results show sandstone-hosted uranium deposit to carry a component with results of up to 2m at 972ppm (0.97kg/t) U3O8 returned near surface. Further infill and extensional drilling is planned. A second continuous section of shallow sandstone-hosted uranium mineralization has been defined by drilling.

Geological interpretation highlights some structural control on mineralization which requires further drill testing. Drilling along strike confirms mineralized potential from surface. Costean style sampling of drill access road cuts has returned significant assays including individual samples of 507ppm U3O8 and 341ppm U3O8 within broader zones of +100ppm U3O8 grade, confirming the lateral extent of mineralization.

Two strike extension holes (TURC72 & TURC73) have confirmed the continuous presence of the mineralized zone. Further infill drilling is required to explore for higher grade mineralization around these holes.

A second section of coherent uranium mineralization has been defined by the drilling. Similar to the previously defined section, grade is hosted within a 3-10m thick zone at the base of a brecciated sandstone unit, above siltstones and carbonaceous shales. In addition, holes drilled oblique to the section have identified a zone of shearing and brecciation, which is thought to act as a conduit for the mineralization.

Further infill, extensional and step-out drilling is being planned for the Energy Prospect in 2010.

The Energy Prospect is one of several radiometric anomalies with similar geological characteristics which have been identified within a 20km radius on Territory Uranium’s Daly River land package. In light of the recent results, Territory Uranium plans to extend its exploration activities to include these concentrated opportunities, adding to its Territory Uranium mineral inventory in this location.