Australian Northern Territory

Uranium-Vanadium - Treuer Range

NewPeak’s Treuer Range Project is located in the Northern Territory’s Ngalia Basin (refer ASX release 12 August 2024). It surrounds the Bigrlyi Uranium-Vanadium Deposit where a JORC indicated and Inferred mineral resource of 7.5MT grading 0.13% U3O8 and 1.12% v2o5 has been defined within the Mount Eclipse Sandstone. The Bigrlyi Deposit is held by other patrties and excluded from the Treuer Range Project.

Key Highlights

NewPeak will acquire the Treuer Range Project for $350,000 through the issuance of 23,333,333 NPM shares at $0.015 per share and the granting of a 2% net smelter royalty to the vendor, Yacimiento Pty Ltd. An initial 6,666,667 shares will be issued immediately, with the remainder due upon transfer of the project permit EL 33611 to NewPeak.

The Treuer Range Project is strategically located in the Ngalia Basin, surrounding the Bigrlyi Uranium-Vanadium Deposit, which has a JORC Indicated and Inferred mineral resource of 7.5 million tonnes grading 0.13% U3O8 and 0.119% V2O5. Note that the Bigrlyi Deposit itself is excluded from this acquisition.

This acquisition aligns with NewPeak’s strategic focus on critical minerals and complements their recent acquisition of the George River Uranium and Rare Earths Project in Canada. It supports the company’s ongoing search for high-value critical mineral projects in prime locations.

Future Exploration Plans

NewPeak is set to begin an extensive exploration program at the Treuer Range Project in the latter half of 2024, subject to approvals. The program will include:

  • Data Review: An in-depth evaluation of historical exploration data, including geochemical, airborne, and ground geophysical surveys.

  • Satellite Imagery: Acquisition and analysis of high-definition satellite imagery for better project understanding.

  • Sampling and Mapping: Reconnaissance geochemical sampling, scintillometer surveys, and broad-scale geological mapping to identify potential mineralized zones.

  • Geophysical Surveys: Ground surveys such as magnetics, radiometric, and possibly Sub-Audio Magnetics (SAM) to further define geological and mineralized areas.

  • Drilling: RC drilling and potentially diamond core drilling to test mineral potential and define JORC resources. Metallurgical testing will also be conducted.

Financial Support

The company’s recent capital raises, including a $500,000 placement and a $529,811 entitlement issue, provide immediate cash flow and support for exploration and expansion plans. Additional asset sales will further bolster the company's financial position.

For more details on the Treuer Range Project and NewPeak’s ongoing initiatives, please visit our website or refer to the latest investor updates.

NewPeak invites shareholders and interested parties to watch this space. Please subscribe to our email out or 𝕏 feed @ASX_NPM to keep abreast of exciting advancements.

 

Treuer Range Project Exploration License, Bigrlyi Licences and Simplified Geology.

 
 

For more information, please contact us at info@newpeak.com.au

 
 

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