GREY:YSSCF - Post by User
Post by
westaussieon Jul 23, 2007 8:47pm
235 Views
Post# 13137419
Report by Cullen - Turee Creek
Report by Cullen - Turee CreekFollowing is a stock exchange release by Cullen, it mentions ALZ's Turee creek deposit.
SIGNIFICANT RADIOMETRIC ANOMALIES
FROM THUNDELARRA-CULLEN JV PROJECT, ASHBURTON
REGION WA
Further to the recent release by Thundelarra Exploration Ltd (Thundelarra) on 17/7/07
concerning the preliminary results of a detailed radiometric survey of their Kunderong Project
Area, Cullen Resources Limited (Cullen) wishes to provide further detail of the high
prospectivity of the Cullen - Thundelarra Tunnel Creek JV area which is a part of the
Kunderong Project. Under the terms of the farm - in, Thundelarra can earn a 70% equity in
Cullen’s three tenement s at Tunnel Creek (ELA’s 52/1890 - 1892) by expenditure of $1.5M
within five years, after which Cullen can contribute or convert to a 20% Free Carried Interest
to completion of a Bankable Feasibility Study.
The radiometric survey was flown by Thundelarra as JV Manager in March 2007 to identify
target areas for unconformity and structurally-controlled uranium mineralization of the
Ranger and Jabiluka type. The preliminary results from this survey are very encouraging and
a number of trends of uranium channel anomalies have been identified within the Cullen-
Thundelarra JV ground (see Figure). The radiometric survey has clearly outlined the position
of the local Turee Creek uranium deposit (1.05Mt @ 0.035% U3O8 - Aldershot Resources
Ltd), and identified a number of uranium channel anomalies which appear to be related to
geological contacts and interpreted faults. (The red and yellow shades of the image reflect
zones of higher uranium channel radiometric response in the survey data and some of these
features are associated with known uranium mineralization – as in the excised area of
Cullen’s ELA 52/1891.)
Thundelarra has indicated that the radiometric survey data are presently being further assessed
by a consultant geophysicist and that Thundelarra now plans to undertake a “Tempest”
airborne electromagnetic survey in August 2007 over the majority of the JV project area.