BTV 2.33% 21.0¢ batavia mining limited

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  1. 2,257 Posts.
    Batavia flags uranium spend

    Jesse Riseborough

    Thursday, September 15, 2005
    NEW uranium explorer Batavia Mining claims it will begin a $2 million exploration program on its uranium tenements in the Northern Territory in December.

    The company, which had cash at the end of the last quarter of $1 million, acquired the ground in July and says the new program will take two years to complete.

    The major focus of the program will be at its Hale River and Plenty Highway prospect where the company plans to spend $800,000 on a ground radiometric survey, to then be followed up by closed-spaced drilling of high intensity zones.

    A budget of $600,000 has been allocated to its Harts Range prospects, covering five exploration licences, including field mapping, ground surveys and follow-up drilling. An additional $300,000 has been set aside for its Mount Sainthill prospect in the Eastern Arunta region of the NT including field mapping and surface sampling.

    The company also said it had recently acquired the Curtis Pound prospect, 150km south of Tennant Creek and covering 757.4sq.km, after applying for the tenement in July. Some $300,000 has been allocated to Curtis Pound, which was said to contain nine airborne radiometric anomalies, for mapping, sampling and potentially follow-up drilling.

    Shares in the company were trading up 0.3c (6%) to 5.3c.

    Click here to read the rest of today's news stories.

    © Aspermont Limited 9/14/2005 4:29:31 PM

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