Core Exploration (ASX:CXO) Gets Thumbs Up for Uranium from Geoscience Australia

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Sydney, Australia, Nov 28, 2012 - (ABN Newswire) - Core Exploration (ASX:CXO.AX - News) received an independent report by Geoscience Australia which highlights the area covered by Core's Albarta Project in the Northern Territory as being highly prospective for uranium-rich IOCG deposits.

The following comments were made by the Federal Minister for Resources and Energy, The Hon Martin Ferguson AM MP, as he announced the release of the report:
"Based on their deeper knowledge of the area, geologists and geophysicists identified potential for uranium-rich iron oxide-copper-gold deposits in the southern Aileron Province south of Tanami and Tennant Creek", and added, "This area is currently being actively explored for iron oxide-copper-gold mineralisation and has potential as a future mineral province."

Core has built a strong strategic holding in the aforementioned NT region - through joint venture, acquisition and new tenement applications. The Company's Albarta Project covers 2,000km2 within the highly prospective IOCG (Iron-Oxide-Copper-Gold) A1 prospectivity zone of the Aileron province, 100km NE of Alice Springs

Core's tenements cover a number of significant copper, gold, uranium and rare earth element (REE) mineral occurrences (Figure 3). This suite of commodity metals is typical of large IOCG systems in Australia (e.g. Olympic Dam).

About Core Exploration Limited:

Core Exploration Ltd (ASX:CXO.AX - News) was incorporated in September 2010 with the aim of growing shareholder value through the exploration for and discovery of commercially robust copper and mineral deposits in South Australia and the Northern Territory. The Company holds projects comprising prospective tenements in the Gawler Craton and Curnamona Craton of South Australia and the new confirmed, highly prospective IOCG Aileron Province geology in the Northern Territory.


Source:

Core Exploration Limited

Copyright (C) 2012 ABN Newswire. All rights reserved.

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