uranium grade, page-19

re: uranium grade-yalyirimbi Sorry, Gerry; was not having a go. Probably too late to be typing... lol..

For those that are interested in Lagoon Creek, the following link will be worth looking at.
http://www.sea-us.org.au/oldmines/ntabandoned.html#Cobar2

Cobar 2 is right on the edge of Arafura lease (outside), Eva is South a bit (again outside lease).
Cobar 2 is the one with 10%+ U308 grade, Eva (Pandanus) is the one that rocks were lifted from.

If you read the notes on Arafura website you will get a good feal for things.

Arafura essentially show the facts as they currently stand, no uranium of significance has been found on the lease historically. Although some drill results; 1-20 metres in width grading 2.4% to 0.12% U3O8 (better than most, but not a resource).

However; modern exploration is expected to prove that there is, it just has not been located. We will not know until Laramide give us a brief on results of magnetics and radiometrics survey that has been completed (hurry up you mongrels, they probably wont until LAM sp slows down... then it will go....).

This is the danger of people throwing a ton of money at prospects based on 'near-ology' (it is near a big mine) and 'like-ology' (Olympic Dam like-- heard that how many times??).
You will note that Cobar 2 had 10% U308, yet a little distance away at El Hussen the results were supposedly poor...(albeit sketchy).
'Near' and 'like' dont count, you HAVE to have the goods.
If Arafura was ony Lagoon Creek; it would not have my money (this is what I alluded to as the bonus of Nolans-- I get to play with top ground but for no risk).

Yet I would lay London to a brick that Arafura were (won't) to IPO off Lagoon Creek and (say) Mt Lucy as a uranium play we would probably get more than Arafura current market cap, that shows the silly response we currently have. We are getting L/Creek drilled for nil cost and getting no benefit... beats me.

I will post a bit on Aileron region over the weekend.