| Bowen Energy has completed an agreement with Baracus Pty Ltd, expanding its existing tenement package. The Archie Creek Project is located approximately 120km south west of Kununarra, encompassing several known Uranium and Fluorite (Archie’s Prospect), approximately 35km of the potentially mineralized Dunham fault zone.
Significant high grade gold/silver values and uranium mineralisation has recently been reported by Northern Star Resources (NSR) at its Dunham Prospect (ASX 6 Sept 2006). The Dunham prospect which has the Frog Uranium Prospect (3,800ppm u308 ASX 20.02.07 UTO) is located immediately north along strike of the Archie Creek Project in similar host rocks.
The Speewah Resource is a large high grade fluorite deposit located 24km north of the Archie Creek project. The fluorite deposit totals combined Indicated and Inferred resources of 4.4 million tonnes at 23.6% CaF2 (at 10% cut-off grade), with 3.8 million tonnes at 23.5% CaF2 in the Indicated category. Regional geological mapping indicates that the structure that hosts the Speewah mineralisation extends south to the Archie Creek project area.
Exploration has been undertaken by previous explorers in the area since the early 1900’s for a range of commodities including uranium, base metals, gold, heavy mineral sands, tin, rare earths, diamonds, fluorite and barite. Limited reconnaissance exploration has been undertaken in recent times.
The project is centred on the Proterozoic Speewah Group of rocks. The Speewah group consists of a package of porphyritic and ryholitic volcanic and pyroclastic rocks overlain by a sequence of arkosic sediments.
To the south along strike NSR have also reported epithermal gold mineralisation at its Range prospect and Uranium at its Antares Prospect. U3O8 Limited has recently announced it has entered into a joint venture arrangement with NSR to explore for Uranium. This joint venture has substantial increased U308 Limited land holding in the area supporting the increased prospectivity of the area. Historical assays of up to 12,000ppm U3O8 (ASX Announcement UTO 20.02.07)
The Archie Creek project consists of 1 exploration license of 168 sq km held by Baracus Pty Ltd for a total area of 47 blocks. Exploration license 80/3537 was granted on 19/09/2007.
Combined with the adjacent application Sabrina Uranium Project ELA 80/3898, Bowen Energy Ltd now holds over 501 square km of ground in this potentially rich and emerging Uranium precinct.
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