Excellent land holdings
Aldershot's key JV Projects which will show drilling results by 1h 2011.
George
Waterhouse
Ngalia
Kariba Valley
(I dont think ABC project will get approval and no news from Cameco regarding Turee Project, so I believe that these 4 projects will provide near term catalysts for the stock in the next year to move to a higher valuation.)
GEORGE (Northern Territory, Australia)- URANIUM
(ROY Earning 60%, ALZ 40%)
George is located 95 km south of Darwin in the Northern Territory immediately southwest of Adelaide River.It covers 84 km2and lies within the Pine Creek Orogen, host to the Rum Jungle, SouthAlligator and East Alligator uranium fields with the historical RumJungle Uranium Field 30 km to the north.
The tenement contains the historical Adelaide River and George Creek Mines, both developed on vein-style uranium deposits.During the mid-1950’s Adelaide River Mine produced uranium ore at an average grade of 0.5% U3O8 while George Creek produced at an average grade of 0.26% U3O8.Both have historically defined mineralisation remaining.
Previouswork by Aldershot included airborne radiometric surveying, geologicalmapping, outcrop sampling, and initial diamond drilling.Surface sampling returned results up to 4.0% U3O8.Drilling at Adelaide River returned a best intersection of 7.1m @ 0.35% U3O8, (7.7 lb/t) including 4m @ 0.72% U3O8 (15.8 lb/t) and at George Creek a best intersection of 1m @ 0.48% U3O8 (10.6 lb/t) was obtained.
Drilling is taking place so news in the coming months is likey.
https://www.royalresources.com.au/project.asp?id=45
WATERHOUSE WEST (Northern Territory, Australia)- URANIUM
(ROY Earning 60%, ALZ 40%)
WaterhouseWest is in the Rum Jungle uranium field and less than 2 km from thesouth-west of Rum Jungle Creek South Mine, the largest of the RumJungle mines. The tenement covers a 10 km strike length of the highlyprospective Coomalie contact and 6 km of the Riverside Anomalous Zone(RAZ) defined by UAL in 1981.The target is unconformity-style uranium.
Future work will be focussed on outlining areas for definitive drilling within the RAZ by RAB drilling.
Boththe George and Waterhouse West tenements have taken on increasedsignificance with Energy Resources Australia recent upgrading ofresources at their Ranger uranium mine.Thenewly discovered Ranger Deeps, a fault controlled mineralised system,indicates that the unconformity-related Ranger orebody is closelyassociated with a deep seated, long lived mineralised fault system.George lies adjacent to the Adelaide River Fault and Waterhouse West lies adjacent the Giant’s Reef Fault.
This Project really has my attention and it should have yours.
Ngalia Project
Ngalia Uranium Project [Northern Territory]
- 211km2 property (EL24571) on the western Ngalia Basin, ~400km NW of Alice Springs owned 100% by Aldershot.
- Sandstone type uranium target in highly prospective, unexplored area.
- Only 40km along strike from Bigryli uranium resource (23.4 M lbs U3O8 & 43.7M lbs of V2O5).
- 28 km of prospective horizon. (ALZ has 28km covering The Mt Eclipse Sandstone, the host of the Bigryli deposit.)
Now look at what Thundelarra found in October 2010.
Thundelarra Exploration (ASX: THX) has completed the 2010 drillingprogram at the Ngalia Basin project in the Northern Territory andintersected a paleochannel-style uranium mineralisation in 15 holesover a 12km strike. With Thundelarra's first drill program just touching the surface inthe Ngalia Basin, yet demonstrating potentially economic grades andthicknesses of uranium mineralisation, the current valuation of THXlooks undemanding. Drilling has tested only a small portion of the license area, inparticular, the full strike extent of the gravity anomaly is nowconsidered prospective uranium mineralisation. Paleochannel-style uranium mineralisation in the Tertiary sequencehas been intersected in 15 holes over a strike length of 12 kilometres.The paleochannel systems that host the uranium mineralisation areexpected to continue over a strike length exceeding 40 kilometres alonga regionally extensive gravity trough on Thundelarra’s 100% ownedtenure. Latest assays include grades of up to 1,798 ppm U3O8.
A total of 58 holes were drilled for 6968.6 metres using a combination of Mud Rotary, Diamond Coring and Air Core techniques.
Thedrilling program, Thundelarra’s first in the Ngalia Basin, locatedapproximately
300 kilometres north-west of Alice Springs, successfullydemonstrated that potentially economic grades and thicknesses ofuranium mineralisation occur in both the Tertiary and Mt Eclipsesandstone sequences.
Now back to Aldershot:
Aldershot's property is
400km ofAlice Springs, meaning that extensive mineralization is likely there aswell if this trend continues. It is so prospective the Australiangovernment gave Aldershot and royal Resources a grant to drill therelast year:
Royalsubmitted an application for drilling co-funding under the NorthernTerritory’s Bringing Forward Discovery Drilling Collaborationinitiative and was successful in attracting 50% funding for a diamonddrilling programme.Once the access agreement isfinalised with the Central Lands Council, anticipated to occur by theend of 2009, this drilling, along with geophysical surveying andadditional RC drilling, will commence.
ALZ has a 28km2of property in a highly prospective site-MT Eclipse Sandstone which is40km away from a defined 24 000 000 lb deposit. Based on Thundelarra'sdrilling results, it looks like this huge deposit can be extended andALZ along with JV partner Royal should have some stunning results inthe years to come.
Here is some background info on the MT ECLIPSE SANDSTONE.
https://www.portergeo.com.au/database/mineinfo.asp?mineid=mn784
Kariba Valley (ALZ 30% and African Energy 70%)
I have no doubt that African Energy will take the 70% by funding an indicated and inferred resource estimate.
Now Zambia:
Aldershot’sProspecting Licences are located in a highly prospective belt beinglocated between Denison Mines’ Mutanga Project, which has an historicresource of 13.7M lbs U3O8, and African Energy’s Chisebuka Prospectwhere drilling in late 2007 returned upto 762 ppm eU3O8 (CHI007,11-13m). Further north African Energy Chirundu JV has identified over9M lbs of contained U3O8 at the Njame and Gwabe Prospects. Inthe area covered by the Sinazongwe Licence, historic drilling by PNChas returned upto 0.89% U3O8 from drillhole SG-20 (PNC, Final Reportfor PMMC PL09) and uraninite and coffinite were identified.
https://www.africanenergyresources.com/projects/zambia/aldershot-joint-venture-project.html
The major risk is that ALZ does not have the funds to contribute their portion of these projects and would have to retreat to a royalty model. However, if the results in 2011 indicate good grades of U3o8, Im sure the market cap will be much higher and allow ALZ to raise sufficient funds to do so.
However at the end of the day, Aldershot has interests in
Pine Creek Oregon,
Rum Jungle,
Ngalia Basin-MT Eclipse and the
Kariba valley in Zambia. These are really highly prospective land claims and for a company with a 5 million market cap.
Please do your own homework here but I would suggest reading up on these land holdings will help inform the belief that Aldershot has the biggest upside of any junior uranium in relation to present value. I don't know what the results of Martin's well will be, but there is enough upside with the Joint Venture properties to make me a long term buyer.
Vijay.