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Uranium Equities doubles holding in NT

16th June 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior uranium hopeful Uranium Equities has more than doubled its land-holding in the Alligator Rivers uranium field, in the Northern Territory, by acquiring seven exploration licence applications in the region.

The ASX-listed junior on Monday acquired Arnhem Minerals from fellow-listed Rare Earths for A$625 000 in cash, payable in three tranches. Arnhem owns the seven exploration licence applications, covering a total of 2 096 km2 in the Alligator Rivers uranium field, and the broader West Arnhem land region.

Uranium Equities said on Monday that the acquisition consolidated the company’s position in the uranium province.

The company’s focus in the Alligator Rivers field would now be to continue discussions with the Land Council and Traditional Owners of the areas under application, with a view to finalising land access agreements.

Once agreements are in place, the exploration licence applications could be granted.

Uranium Equities was also planning a 5 000 m reverse circulation drilling programme to start in mid-June on its Naberlek project, which would test the company’s priority, drill-ready targets on both the Naberlek mineral lease and the Arnhem joint venture ground.

Edited by Creamer Media Reporter

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