our little secret. lagoon creek

SsssHHhhh
"A selected sample assayed 31.3% U."
http://www.arafuraresources.com.au/pdfs/Qu...Sept%202004.pdf
Pg 14
That is reasonably high, but I guess we have to wait while until Laramide can get results in.

Say good bye to all the pretenders who have not brought in results or shown poor form... here comes daddy!!

-- Key notes from today:
---- Laramide originally comitted to 2000mtr initial drilling, they are now going for 3000 in a month.
---- Laramide are going to drill 10,000mtrs this year; from the airbourne survey our ground comes out infront.
---- Laramide are mega keen on getting this moving, watch the TSX tonite to see if it gets announced and what happens! Then watch out monday... all imo

*** From Laramide
- a new 4 kilometer long trend on Arafura’s joint venture zone, (Debbill trend).
- spot radiometric high in Arafura JV, (Anomaly 11 Conglo).
- numerous spot anomalies located in Arafura JV which require follow up.

********
LAGOON CREEK--- NUMERO UNO SPECCIE U PLAY IN OZ, IMO. **********************************************
JV with Laramide (TSX.LAM.V).
When this JV was announce the Arafura S/p did not move, Laramide went up significantly and for a long time.
http://arafuraresources.com.au/documents/U...FactSheetDD.pdf
http://arafuraresources.com.au/documents/R...reekUranium.pdf
http://www.arafuraresources.com.au/documen...ofAgreement.pdf

"The Lagoon Creek uranium-gold prospect is located 400 km north east of Tennant Creek, Northern Territory, near the Queensland border.
The host rocks and geological structures in Lagoon Creek area are similar to those in the nearby Queensland Westmoreland deposits, which are reported to host over 20,000 tonnes of contained U3O8. Prospectors in the 1970s mined narrow high-grade uranium lodes at Lagoon Creek.
Previous exploration has defined mineralisation grading 2.4% U3O8 and 6.7 g/t Au over intervals of 1 to 20 metres.
A joint venture agreement with Laramide Resources Ltd allows Laramide to farm-in to Lagoon Creek Prospect. Exploration using modern techniques will be used to delineate further extensions to known mineralisation and identify new targets for exploration."

****HOW PROSPECTIVE IS THIS AREA?****
Arafura are pretty modest folk and they say;
"Previous exploration has defined mineralisation grading 2.4% U3O8 and 6.7 g/t Au over intervals of 1 to 20 metres."
Now I think 2.4% is heading in the right direction...

BUT
*****MAKE SURE YOU GO TO THE LOO BEFORE READING ON, I DONT WANT ANYONE WETTING THEMSELVES****
--Pandan.us Creek/Eva is an old 'mine' south of Lagoon Crk but still in the Westmoreland region.
"The uranium ore at Panda.nus Creek was hand picked and trucked to Rum Jungle for treatment. The mine operated from 1960 to 1962, extracting about 3,300 tonnes of ore at an average grade of 1.8%, hand sorted to about 306 tonnes of concentrate at the extraordinary grade of 8.37%, producing a total of 26.1 tonnes of U3O8. The mine was developed underground to a depth of 83 feet (25.3 metres)".
**Hand Picked.... Hand sorted...wonder where Workcover was...lol ***
THEN
"The spoil dump contains approximately 3,000 tonnes of of rock averaging over 1% U3O8 (about 30 tonnes U3O8)"
***THIS IS SPOIL!!!!
http://www.sea-us.org.au/oldmines/ntabando...#PandanusCrkEva

--Cobar 2 is right on the Northern border of Lagoon Creek.
It was not really a mine, more of a scratching, but did have some interesting grades... (The decimals are in the right spot).
"The quantity of ore mined was about 78 tonnes with the extraordinary average grade of 10.52% U3O8, to produce about 8.2 tonnes of U3O8"
http://www.sea-us.org.au/oldmines/ntabandoned.html#Cobar2
--Now we are heading into the grades I like the sound of 10.52%, yep that should be ok....

****Now there are no guarantees in this game, but as I think we are getting a bat at this for no cost (certainly not built into SP) and I can have these grades to the North and South, plus 40m lbs to the east then I am pretty comfortable with that.

This is very very very important for Laramide, they have >40 million pounds U308 sitting across the border in QLD. The QLD Govt is not about to let them start digging it up. If Laramide can get a mine going in NT then they can wait out QLD state govts.

Laramide initially comitted to 2000mtr but are now going for 3000mtr (in ONE MONTH) and they want to BUY drilling rig/s.

Part of the agreement was that Laramide had to be able to raise "A$4,000,000 within 90 days to consummate the
agreement.".... What did Laramide raise... OVER $13,000,000

Are they excited about it?
"URANIUM BULL MARKET - Perspective of a Canadian Junior Developer"
http://www.laramide.com/corporate/pres/may2005analyst.htm


So I think we can class Lagoon Creek as a pretty reasonable low cost entry to the world of uranium exploration.

ARAFURA SHARE PRICE IS CHEAP!!!!!

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