Interest is building for investors in Royal Resources (ASX: ROY) as activity intensifies at the George uranium prospect in the Northern Territory.
Drilling has commenced at George, with a programme of 13 diamond drill holes planned - targeting vein-type uranium mineralisation on extensions to the historically productive Adelaide River and George Creek uranium mines.
Historically, these two mines delivered high grade uranium ore of between 0.3 to 0.5% U308.
George is 60% owned by Royal and 40% owned by Toronto listed Aldershot Resources Ltd (TSX: ALZ). Aldershot obtained results of 7.1m @ 0.35% U3O8 in 2007 drilling at Adelaide River.
Tenement ground at George covers 84 km2 and is located 95km south of Darwin in the Northern Territory immediately southwest of Adelaide River.
The property is within the Pine Creek Orogen, host to the Rum Jungle, South Alligator and East Alligator uranium fields with the historical Rum Jungle Uranium Field 30km to the north. The tenement covers the historical Adelaide River and George Creek Mines, both developed on veinstyle uranium deposits.
A drilling program will also commence at the JV’s Ngalia tenement in the Northern Territory - 365 km north west of Alice Springs in the Ngalia Basin.
Royal is earning into the Ngalia prospect in an agreement to own 60% with Aldershot.
The Ngalia basin hosts some significant uranium resources, including Deep Yellow's (ASX: DYL) Napperby deposit, the Bigrlyi Energy Metals Ltd deposit: 53.7%, Paladin Energy: 42.1% and the Southern Cross Exploration 4.2% deposits. The latter has a resource of 10,555 tonnes U3O8 at an average grade of 0.14% U3O8.
The target of the Ngalia Uranium Project is the strike extension of the Mt Eclipse Sandstone, host
to the Bigrlyi deposit.
Royal, with its partner Aldershot, won a collaborative drilling grant of from the Northern Territory Government on Ngalia - the amount was not disclosed. Up to 24 RC drill holes totalling 1,220 metres and three diamond drill holes totalling 600m are planned. Drilling will commence once access agreements are finalised.
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