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Northern Territory
Uranium Exploration
During the reporting period, Jupiter entered into a contract for the purchase of eight mining tenement applications in the Northern Territory, a region in which uranium exploration is permitted. The project areas are located in the northern sector of Northern Territory (figure 11). The transaction was undertaken by Jupiter Uranium Pty Ltd, a wholly owned subsidiary of Jupiter Mines Limited.
Figure 11.
Uranium Prospect Map. (Click image to view larger)
Uranium occurrences in the Northern Territory can be grouped into four types: Proterozoic unconformity-related, vein like, Westmoreland-Murphy type and sandstone type. The Proterozoic unconformity deposits are considered the most prospective and generally occur within Palaeoproterozoic rocks of the Pine Creek Orogen. Economic quantities of gold, platinum and palladium (as is found at ‘Coronation Hill’) can be associated with this style of deposit. Woolgni West sits in the Pine Creek Orogen with grantic source rocks and sandstone units (see Figure 12).
Figure 12.
Woolgni West Project area with thorium/uranium Ratios and Geology Map.
Outlook
To complement the Company’s portfolio of resource opportunities, these properties will give Jupiter exposure to the uranium sector at a time where there is a significant uplift in prices. All projects have radiometric anomalies which are unexplored by modern exploration techniques. Over the next twelve months, Jupiter will continue to construct databases and will examine each project area in the context of known geological models to prioritise exploration targets. On-ground investigations will then begin progressively as tenements are granted.