surprised its not 10+ already
1
ASX Code
NUP
Capital Details
Shares on issue 236,050,855
Share Price $0.072
Market cap $17mil
Executive Chairman
Mick Muir
Non Executive Directors
Ian Kowalick
Robert Owen
John Jackson
Company Secretary
Anthony Schildkraut
Projects
Westmoreland: Eva/Cobar II and
Lagoon Creek - Uranium/Gold
Lucy Creek/Arganara Phosphate
Aileron - Uranium
Warrabri - Uranium
NuPower Resources Limited is a
Northern Territory based
exploration company. Our vision is
to become a successful exploration
and mining company with superior
cashflows.
ASX and media release 18 February 2010
NuPower Confirms High Grade
Uranium - Gold Discovery in the NT
High-grade exploration results highlight outstanding
exploration potential of the Eva Project and regional
tenements
NuPower Resources is pleased to announce that it has received the second batch of
high-grade uranium-gold assay results from Eva Prospect in the Northern Territory,
confirming the existence of significant mineralisation and highlighting the Projects
outstanding exploration potential.
The latest results, which are the second and final batch of assays from the drilling
program completed at Eva in the December quarter, contain exceptionally high
uranium grades and significant gold intercepts.
These new assay results include:
EVO22 - 16m at 13,800ppm U3O8 (30.42lb/t), 8.53g/t Au from surface and
- 7m at 4,600ppm U3O8 (10.14lb/t), 3.77g/t Au from 19m to 26m
EVO34 - 21m at 6,000ppm U3O8 (13.23lb/t), 5.32g/t Au from 6m to 27m
Including 4m at 26,000ppm U3O8 (52.32lb/t), 19.41g/t Au from 12m
to 16m
EVO 36 - 12m at 5,900ppm U3O8 (13.01lb/t) , 13.39g/t Au from surface
Including 2m at 22,200ppm U3O8 (48.94lb/t, 10.24g/t Au from
1m to 3m
- 30m at 2,500ppm U3O8 (5.51lb/t), 2.07g/t Au from 14m to
44m
2
NuPower Executive Chairman, Mick Muir said the latest results confirmed the Companys belief that Eva
is an exciting deposit with exceptional grades over significant widths at shallow depths.
Mr Muir said Eva offered outstanding exploration upside. The full strike extent of the structure
associated with the old workings is still to be determined. The potential of the parallel structures were
only partially tested by this exploration program, therefore the extent of the deposit remains open, he
said.
Eva is within the Aboriginal lands of the Waanyi-Garawa Land Trust. Mr Muir stated the Company is
very pleased with the relationship formed with the Traditional Owners and he expressed his thanks for
their support and assistance in the exploration program. NuPower looks forward to continuing the good
relationship with the Traditional Owners in the future.
The latest results stemmed from a 50-hole drilling program, the first assays from which were announced
in an ASX statement on December 15, 2009. These results included 23m at 20m at 4,160 ppm U3O8,
5.07g/t Au from 9m, including 4m at 1.26% U3O8 and 18.32 g/t Au from 27m.
Mineralisation at Eva has now been outlined over a strike length of 100m and intersected to vertical
depths of 65m.
These results have provided significant new regional geological knowledge that positively impacts the
potential of the Companys Lagoon Creek and Cobar II tenements. The Company is currently evaluating
priority exploration targets on these leases, for the coming field season.
I G (Mick) Muir
Executive Chairman
3
Detailed Technical Commentary
NuPowers Eva project is located in the Westmoreland District, (Figure 1) on the northern margin of the
Lower Proterozoic Murphy Inlier where it is hosted by the Cliffdale Volcanics that have been intruded by
the Nicholson Granite Complex. The sequence is unconformably overlain immediately north of the
prospect by basal rocks of the McArthur Basin represented here by the Westmoreland Conglomerate
that is also host to uranium mineralisation elsewhere including NuPowers Lagoon Creek property.
At Eva, the Cliffdale volcanics consist of flow banded dacitic porphyry that equates with the ignimbritic
lower member of the volcanics overlain by massive andesite that although is a significant lithology in the
prospect area, is not recognized regionally (Figure 2). The Nicholson Granite Complex is represented
here by medium-coarse grained granite, a granophyric porphyry dyke and microgranite.
4
The two units of the Cliffdale Volcanics are separated by major shears but their relative ages are
unknown. The granite, outcropping in the southwest and in the vicinity of the Eva workings, is bounded
by the Western Fault and Shears 1 & 2 and wedged between the two volcanic units. It thins from a
thickness of more than 50m in the south towards the north and down dip between Shear 1 and 2 and is
thought to represent a sliver of granite from depth that has been emplaced by a duplex thrust system
formed by these shears. The granophyric porphyry dyke outcrops in the east of the prospect trending
northeast-southwest and dipping steeply to the southeast. Although locally altered it is not known to
host uranium mineralisation.
The microgranite, which is probably a dyke and hosts much of the mineralisation, is bounded by the
Western Fault and Shear 1 and has an intrusive hanging wall contact with the andesite. From the
workings, where it is terminated against the granite, it extends in a northeasterly direction for several
hundred meters. It is generally intensely altered and has previously been mapped as an arenite.
The interpretation of the structural controls on the mineralisation is still in progress but the following
observations can be made. Previous mining at Eva followed high grade primary and secondary uranium
mineralisation within a steeply inclined, east-west trending structure (Zone 1) that crosses the
microgranite into the andesite with a strike length to date of about 100m (Figure 2). Although it pinches
and swells, , it is interpreted to have a true width of 10-15m from the previous work and recent drilling
5
by NuPower (Figures 3, 4). There is no significant mineralisation directly associated with Shears 1 or 2
and instead Shear 1 represents the base of mineralisation while Shear 2 forms the base of the granite,
between which drilling to date has shown that there is no mineralisation.
6
It appears that the preferred location for high grade mineralisation is on this structure within the
microgranite and includes intersections such as (Figures 3,4):
Drill Hole Intercepts
EV020 19m @ 2,900 ppm U3O8, 3.42 g/t Au from surface
including 1m @ 11,700 ppm U3O8, 10.2 g/t Au from 2m
EV024 31m @ 6,900 ppm U3O8, 4.55 g/t Au from surface
including 4m @ 11,800 ppm U3O8, 4.27 g/t Au from 8m
and 2m @ 44,800 ppm U3O8, 28.69 g/t Au from 22m
EV036 12m @ 5,900 ppm U3O8, 13.39 g/t Au from surface
including 2m @ 22,200 ppm U3O8, 10.24 g/t Au from 1m
and 1m @ 10,200 ppm U3O8, 24.1 g/t Au from 8m
30m @ 2,500 ppm U3O8, 2.07 g/t Au from 14m
including 1m @ 10,200 ppm U3O8, 2.56 g/t Au from 24m
EV039 13.2m @ 1,800 ppm U3O8, 0.41 g/t Au from 11.8m
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(Note: results from EV020, EV024 were previously reported in ASX release dated 15/12/2009)
The mineralisation, in the form of secondary yellow-green uranium oxides with pitchblende or uraninite,
is associated with sericite-epidote-talc-silica alteration of the microgranite. Topaz is reported locally and
traces of cassiterite are present suggesting an earlier stage of greisenisation may be present.
A second high grade zone, Zone 2, lies adjacent and to the south of Zone 1 and the two appear to
merge. Zone 2 is steeply dipping over a distance of 50m with true widths to 14m. The mineralisation
style is similar that of Zone 1. (Figures 2, 3):
Drill Hole Intercepts
EV019 18m @ 1,800 ppm U3O8, 0.31 g/t Au from surface
EV034 21m @ 6,000 ppm U3O8, 5.32 g/t Au from 6m
including 4m @ 26,000 ppm U3O8, 19.41 g/t Au from 12m
The drilling also suggests a number of mineralised zones to the north and south of Zones 1 & 2, that are
steeply dipping with probable true widths of 2-5m (Figures 2-4). These mineralized lenses occur both
within the microgranite and andesite, and include intersections such as:
Drill Hole Intercepts
EV010 6m @ 2,100 ppm U3O8, 1.45 g/t Au from 29m
EV026 9m @ 7,200 ppm U3O8, 5.43 g/t Au from 24m
including 1m @ 14,200 ppm U3O8, 18.55 g/t Au from 30m
EV038 5m @ 6,300 ppm U3O8, 3.39 g/t Au from 37m
including 1m @ 28,800 ppm U3O8, 15.75 g/t Au from 40m
EV043 9m @ 1,300 ppm U3O8, 0.12 g/t Au from 23m
EV047 6m @ 2,200 ppm U3O8, 1.91 g/t Au from 54m
EV049 4m @ 2,000 ppm U3O8, 2.37 g/t Au from 71m
(Note: Intersection in EV010 was previously reported as 5m @ 2,400ppm U3O8, 1.69 g/t Au)
Mineral associations are similar to that of Zones 1 & 2 but also include secondary uranium oxides on
joint planes, fractures and shears.
As reported in the Interim Eva Results ASX release of 15/12/2009, drill hole EV013 intersected a high
gold with low uranium zone of 2m @ 6.17 g/t Au and 200ppm U3O8. Similar zones have also been noted,
albeit not with the same grades, in several other holes on the margins of the uranium mineralisation,
generally below the base of oxidation and include anomalous intercepts such as:
8
Drill Hole Intercepts
EV023 1m @ 0.7 g/t Au, 200ppm U3O8from 8m
EV030 1m @ 0.61 g/t Au, 200ppm U3O8from 18m
EV034 1m @ 1.89 g/t Au, 500ppm U3O8from 29m
EV041 1m @ 1.64 g/t Au, 200ppm U3O8from 8m
A summary of mineralised uranium and gold intercepts above 500ppm U3O8 from all drill holes of the
2009 Eva drilling campaign are given below in Table 1.
The microgranite/andesite contact to the northeast has been tested only by holes EV050 and EV006 that
did not intersect anomalous uranium. The interpreted strike and down plunge extent of the
mineralisation has not been tested to date and therefore remains open.
9
2009 Eva Drilling- Significant Uranium/Gold Intercepts
Hole ID From To Width
U3O8
(ppm)
U3O8
(%)
U3O8
(lb/tonne)
Au (g/t)
EV001 0 1 1 700 0.07 1.54 0.89
4 5 1 7,100 0.71 15.65 6.74
8 15 7 16,000 1.60 35.27 4.79
including 8 11 3 36,200 3.62 79.81 10.58
EV002 1 1.2 0.2 1,400 0.14 3.0 9 2.12
historical mine
void 1.2 3
3 9.5 6.5 7,900 0.79 17.42 5.83
including 3 4 1 18,600 1.86 41.01 14.00
including 8 9 1 13,000 1.30 28.66 9.90
historical mine
void 9.5 11.4
11.4 19 7.6 5,900 0.59 13.01 6.11
including 12 14 2 10,600 1.06 23.37 5.14
EV003 0 1 1 700 0.07 1.54 0.05
12 19 7 1,400 0.14 3.09 0.15
38 41 3 500 0.05 1.10 0.27
EV004 0 1 1 1,200 0.12 2.65 0.17
9 32 23 1,900 0.19 4.19 0.33
39 40 1 2,100 0.21 4.63 2.37
EV005 12 15 3 1,000 0.10 2.20 1.13
26 32 6 1,100 0.11 2.43 0.09
EV006 no significant uranium assays
EV007 28 29 1 8,200 0.82 18.08 0.56
39 40 1 2,100 0.21 4.63 0.54
44 50 6 2,300 0.23 5.07 0.15
EV008 0 19 19 1,800 0.18 3.97 0.54
22 33 11 2,000 0.20 4.41 1.16
10
Hole ID From To Width
U3O8
(ppm)
U3O8
(%)
U3O8
(lb/tonne)
Au (g/t)
EV009 14 15 1 700 0.07 1.54 0.06
30 31 1 1,100 0.11 2.43 0.11
37 48 11 3,000 0.30 6.61 4.28
including 41 42 1 12,200 1.22 26.90 28.70
EV010 0 1 1 1,300 0.13 2.87 0.79
11 19 8 1,400 0.14 3.09 0.95
24 26 2 800 0.08 1.76 0.32
29 35 6 2,100 0.21 4.63 1.45
EV011 0 1 1 800 0.08 1.76 0.46
9 13 4 600 0.06 1.32 0.07
20 21 1 500 0.05 1.10 1.89
24 26 2 700 0.07 1.54 0.01
32 33 1 800 0.08 1.76 1.18
EV012 25 36 11 1,500 0.15 3.31 0.77
45 47 2 1,200 0.12 2.65 1.12
EV013 48 49 1 1,500 0.15 3.31 1.44
60 61 1 700 0.07 1.54 0.56
EV014 33 35 2 700 0.07 1.54 0.80
EV015 0 22 22 1,700 0.17 3.75 0.88
26 33 7 1,200 0.12 2.65 1.71
EV016 not assayed
EV017 no significant uranium assays
EV018 0 5 5 2,300 0.23 5.07 1.39
12 14 2 600 0.06 1.32 4.93
EV019 0 18 18 1,800 0.18 3.97 0.31
11
Hole ID From To Width
U3O8
(ppm)
U3O8
(%)
U3O8
(lb/tonne)
Au (g/t)
EV020 0 19 19 2,900 0.29 6.39 3.42
including 2 3 1 11,700 1.17 25.79 10.20
EV021 0 28 28 1,600 0.16 3.5 3 2.70
including 10 11 1 10,700 1.07 23.59 1.92
EV022 0 16 16 13,800 1.38 30.42 8.52
including 1 7 6 18,900 1.89 41.67 9.53
including 8 9 1 11,400 1.14 25.13 2.92
including 10 11 1 15,600 1.56 34.39 3.22
including 12 14 2 14,600 1.46 32.19 7.31
including 15 16 1 18,300 1.83 40.34 21.30
historical mine
void 16 19
19 26 7 4,600 0.46 10.14 3.77
including 23 24 1 12,100 1.21 26.68 2.31
EV023 0 1 1 600 0.06 1.3 2 0.28
5 6 1 800 0.08 1.76 0.27
9 32 23 4,100 0.41 9.04 5.17
including 15 16 1 10,000 1.00 22.05 6.81
including 27 31 4 12,300 1.23 27.12 18.32
EV024 0 31 31 6,900 0.69 15.21 4.55
including 8 12 4 11,800 1.18 26.01 4.27
including 22 24 2 44,800 4.48 98.77 28.69
EV025 0 22 22 1,200 0.12 2.65 0.25
25 26 1 700 0.07 1.54 1.95
EV026 0 9 9 800 0.08 1.76 0.05
24 33 9 7,200 0.72 15.87 5.43
including 30 31 1 14,200 1.42 31.31 18.55
EV027 10 13 3 800 0.08 1.76 0.09
17 20 3 2,100 0.21 4.63 1.35
29 31 2 700 0.07 1.54 0.66
12
Hole ID From To Width
U3O8
(ppm)
U3O8
(%)
U3O8
(lb/tonne)
Au (g/t)
EV028 20 24 4 2,600 0.26 5.73 1.20
27 28 1 600 0.06 1.32 0.33
EV029 0 1 1 500 0.05 1.10 0.02
49 58 9 1,200 0.12 2.65 0.80
EV030 1 4 3 1,300 0.13 2.87 0.65
12 13 1 500 0.05 1.10 0.02
EV031 12 17 5 1,000 0.10 2.20 0.10
37 39 2 1,400 0.14 3.09 2.78
47 50 3 4,500 0.45 9.92 1.75
including 47 48 1 11,100 1.11 24.47 4.22
EV032 no significant uranium assays
EV033 0 11 11 900 0.09 1.98 0.10
EV034 0 1 1 700 0.07 1.54 0.33
6 27 21 6,000 0.60 13.23 5.32
including 12 16 4 26,000 2.60 57.32 19.41
33 39 6 1,600 0.16 3.53 1.32
EV035 0 1 1 800 0.08 1.76 0.02
2 3 1 600 0.06 1.32 0.16
EV036 0 12 12 5,900 0.59 13.01 13.39
including 1 3 2 22,200 2.22 48.94 10.24
including 8 9 1 10,200 1.02 22.49 24.10
14 44 30 2,500 0.25 5.51 2.07
including 24 25 1 10,200 1.02 22.49 2.56
EV037 no significant uranium assays
EV038 37 42 5 6,300 0.63 13.89 3.39
including 40 41 1 28,800 2.88 63.49 15.75
13
Hole ID From To Width
U3O8
(ppm)
U3O8
(%)
U3O8
(lb/tonne)
Au (g/t)
EV039 0 2 2 700 0.07 1.54 0.28
11.8 25 13.2 1,800 0.18 3.97 0.41
28 29 1 2,300 0.23 5.07 0.19
32 33 1 1,400 0.14 3.09 0.05
40 44 4 1,800 0.18 3.97 0.74
EV040 23 26 3 1,200 0.12 2.65 0.13
32 33 1 1,200 0.12 2.65 0.02
36 38 2 5,000 0.50 11.02 2.54
EV041 13 14 1 1,100 0.11 2.43 2.16
20 21 1 1,300 0.13 2.87 0.31
26 27 1 700 0.07 1.54 0.51
EV042 no significant uranium assays
EV043 23 32 9 1,300 0.13 2.87 0.12
38 41 3 1,400 0.14 3.09 0.15
54 57 3 1,600 0.16 3.53 0.72
EV044 Metallurgical PQ cored hole. Not sampled.
EV045 44 45 1 2,600 0.26 5.73 1.59
71 72 1 800 0.08 1.76 0.37
EV046 16 17 1 600 0.06 1.32 0.22
20 21 1 1,200 0.12 2.65 0.40
24 27 3 900 0.09 1.98 0.37
31 32 1 1,000 0.10 2.20 0.01
59 60 1 500 0.05 1.10 0.01
62 64 2 700 0.07 1.54 BLD
69 71 2 1,200 0.12 2.65 BLD
EV047 43 44 1 600 0.06 1.32 0.05
54 60 6 2,200 0.22 4.85 1.91
68 69 1 2,100 0.21 4.63 1.48
EV048 33 36 3 3,100 0.31 6.83 0.30
14
Hole ID From To Width
U3O8
(ppm)
U3O8
(%)
U3O8
(lb/tonne)
Au (g/t)
EV049 71 75 4 2,000 0.20 4.41 2.37
EV050 no significant Uranium assays
Notes:
* Intersections have been calculated using a 500ppm U3O8 lower cut off, with up to 2m of internal waste
* 1 lb/per tonne U3O8 = 454ppm U3O8 = 0.0454% U3O8
The information in this release relates to exploration results and geological interpretation by Mr Warrick
Rafferty (MSc). Mr Rafferty is a Member of the Australasian Institute of Mining and Metallurgy and a
Fellow of the Society of Economic Geology and has sufficient experience to qualify as a Competent
Person as defined in the Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC
CODE) for reporting exploration results. Mr Rafferty consents to the inclusion of the data in the form
and context in which it appears.
This release contains forward-looking statements. The actual results could differ materially from a
conclusion, forecast or projection in the forward-looking information. Certain material factors or
assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the
forward-looking information.
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