Newera Resources’ drilling returns multiple intercepts of above 100ppm uranium at Jailor Bore

Newera Resources’ (ASX: NRU) Jailor Bore Project in the Gascoyne Region is revealing its uranium potential, with initial assays from aircore drilling showing 69 significant intersections of uranium oxide above 100 parts per million (ppm) from the Giant Prospect.

A total of 211 aircore holes, along three drill lines, were drilled at the Giant Prospect for a total of 2071 metres.

A total of 832 selected single metre samples have been collected and analysed to date following in-field spectrometer analysis of each single metre sample at the time of drilling. From the 832 results received, Newera has identified 64 drill holes generating 69 significant intersections of mineralisation.

The uranium mineralisation is near surface with the vast majority of the 69 significant intersections occurring at less than 10 metres depth.

The mineralised zone remains open to the north and south. Further drill lines can be added in an attempt to extend the known and now tested zone of mineralisation.

Highlighting the potential at the prospect, an exploration target of 900,000 pounds to 1.1 million pounds at 120 to 150ppm uranium oxide has been established.

The assays have also returned substantially higher than expected vanadium. Uranium to vanadium ratios are generally between 0.8 and 2.5.

Approximately one hundred further samples will be assayed with the next batch of assays expected in November.

Newera is now planning to begin further extension drilling after the wet season in 2012.

The Jailor Bore Project is located 200 kilometres north-east of Carnarvon and 150 kilometres north of Newera’s Pells’ Range project in Western Australia.

The project comprises three leases, one of which is operated by Newera under a joint venture agreement and one of which is in application.

Newera is operating an option agreement with Cazaly Iron (ASX: CAZ) to manage exploration on the granted lease EL09/1194, has a joint venture agreement with Coccinella to operate the granted lease EL09/1298, and has applied for EL09/1434 in its own name.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/21084/newera-resources-drilling-returns-multiple-intercepts-of-above-100ppm-uranium-at-jailor-bore--21084.html