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Old 08-24-2009, 01:07 AM
Sparty Sparty is offline
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Default NAV Last man standing REE's in Australia: Coming on with Cummins

NAV appears to be still held in Australian hands although there are some rumours that a large buy is on the cards from O/S interests...... Makes sense as it is almost the last ASX listed company with a large REE deposit that hasn't been snapped up.

From Nav's latest project updates:

The REO-uranium-phosphate mineralisation is up to 50m in thickness and is mainly developed in a sub-horizontal geometry within deeply weathered regolith developed over carbonatite and pyroxenite rocks. Primary zone high grade uranium mineralisation (8m at 1,378ppm U3O8) is locally present.

Resource modelling confirmed an open-ended zone of high grade rare earth oxide of 1.1 million tonnes at 3.5% REO, associated with a thicker halo of low grade mineralisation of 2.5 million tonnes at 1.3% REO.

The resource estimate is based on drilling that covers only a small portion of the Cummins Range diatreme and there is excellent potential to expand the size of the deposit through further drilling. The JORC classification of the resource will be reviewed when analysis of the 1m sample results is finalised. This will enable the assessment of the heavy rare earth metals (not yet included in the resource estimate), as well as niobium, tantalum, zirconium and yttrium, prior to a revised resource estimate. In addition, uranium and phosphate mineralisation have the potential to add significant value and are regarded as likely by-products of REO mining and processing.

The Cummins Range deposit is similar in size and grade to several other REO deposits slated for potential production including Kangankunde, Thor Lake and Hoidas Lake, and there is excellent potential to expand the size of the deposit through further drilling. It is amenable to open pit mining and the deeply oxidised nature of the deposit enhances the scope for low cost beneficiation. The average relative mix of light rare earth oxides and low thorium levels at Cummins Range compare favorably with other well known deposits such as the Mt Weld rare earth project. End of excerpt.



Image from http://www.australianrareearths.com/

Read summary of Navigator Resources....

NAV also has gold... http://www.australian-gold.com

And Uranium... http://www.australianuranium.com.au

Sparty holds NAV
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