Arganara Phase 3 RC Drill Program Completed NuPower is pleased to announce that that is has completed its Phase 3 reverse circulation (RC) drill program on the Arganara Phosphate Project in the Northern Territory. Assay results are pending. 9,110m were drilled over 34 days at an average rate of 268m per day. The average final depth of each hole was 36m. A scheduled mid program break of one week and a number of mandatory maintenance days were the only interruptions to drilling. An additional 1,110m have been drilled over the initial planned program to support resource calculations. Due to the extra drilling a number of holes have been delayed and will move Phase 4 drilling later in the year. A small Diamond drill program will commence over the coming weeks to provide density information and material for metallurgical studies. The primary aim of this program is to establish a maiden JORC Mineral Resource for the Arganara Prospect by extending and infilling the 2011 Phase 1 & 2 drill programs. Due to preliminary resource modeling and QA/QC already being completed using data from the 205 hole Phase 1 & 2 drill programs, the integration of the Phase 3 results should be swift, enabling the timely estimation of a maiden JORC Mineral Resource. The 2012 Phase 3 Arganara Drill program has focused on two prime areas: • Infill between the existing 1km lines to validate the preliminary Arganara Prospect resource model so it may be confidently released as a JORC Mineral Resource. • Extension drilling to the south and east of the 2011 Phase 1 holes at an adequate density so results may also be included in the Arganara Prospect JORC Mineral Resource. Nupower Looks forward to announcing the drill results as they are returned from the laboratory over the coming weeks.
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