King River Uranium
This licence is located in the Daly River Basin region in the Northern Territory. It covers sediments of Cretaceous age and is prospective for sandstone and unconformity hosted uranium and rock phosphate deposits.
In 2007, re-interpretation and reprocessing of radiometric data delineated untested anomalies within the Cretaceous sandstone units. This lent support to previous work by the Australian Atomic Energy Commission that concluded there was the possibility of a uranium source in the Cretaceous Jinduckin Formation.
Reconnaissance field inspection during 2008, including an orientation scintillometer survey and rock chip sampling, revealed uranium levels between 10 and 15 ppm.
The Company is currently seeking a Joint Venture partner on the project.
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