With the NATS giving their support to the LIBS today, the GPN...

With the NATS giving their support to the LIBS today, the GPN focus on Uranium through it's own interests take on a whole new value now. I posted the following on the YRR threads which are the three Uranium projects GPN has a significant interest in via it's shares and options in YRR ( which as we know, floated YRR).
I have generally had a buy sentiment on GPN but have changed it to strong buy now as a result of the change in government in WA.
I mention in the YRR post there are three Uranium projects in WA but it should have read four....

The post......

"The uranium tenements in WA now become a subject of interest. There are three uranium projects. I don't own YRR directly but do so through my Greater Pacific Gold (high leverage through GPNOB).

Whilst the Vanadium is of high upside value, the Uranium is now in play and hasn't yet been subject to market speculation until today's announcement by the WA NATS. GPN should track any sp movements in YRR pretty closely. I'll put this post on the GPN threads also.

YRR also has some cross holdings which are a bit complicated but include a few other public and private companies with GPN ( am still sorting through who owns what). There has been some comments on hc about the increased dilution because of acquisitions by YRR ( and consequently GPN) of new tenements but I think they are worth the dilution as anything that adds value greater than the dilution effect is an increase in the net worth of each share.
The subject of discussion over the next 6 months, I'd expect to be, on the three main WA based Uranium projects YRR has.....( from the YRR website).

Gabanintha Uranium Project — Western Australia

The Gabanintha Project is situated 43 kilometres south east of Meekatharra and is accessible from the Great Northern Highway. The five granted tenements cover an area of 58 km²and host a strike length 12.2 km of Archaean mafics, ultramafics and intermediate rocks.

The area is prospective for uranium as well as gold and base metals. The nearby occurrences of uranium found at Kelly Bore, Quinn’s Lake and Cogla Downs are all within 40 km of the tenure while the giant Yeelirrie uranium deposit lies 100 km to the east. The nearest source of uranium mineralisation is a JORC standard deposit on the YRR tenement at Nowthanna, 5 kilometres to the south.

Information available from Government surveys shows the regional total count radiometrics confirm the presence of high-response Palaeo-drainages in the area. These Palaeo-channels return a good enough signal to suggest that significant uranium source rocks are present.

Uranium exploration commenced in this area in the 1970s with WMC being the most active explorer. It discovered the world’s first uranium calcrete-hosted style deposit at Nowthanna as well as several other uranium occurrences culminating with the world’s largest calcrete-hosted deposit at Yeelirrie. These WMC leases, now controlled by BHP, hold an estimated 51,000 tonnes of contained U3O8. Concerns at the time about the future of the uranium industry caused WMC to withdraw from further uranium exploration in the region.

Recently the spiralling rises of the uranium oxide spot price reached USD 120 per pound in May 2007. Coupled with a growing demand for the clean electrical energy that nuclear power provides, the future of uranium exploration is assured.

The exploration potential of the leases for uranium is considered high because:

* Most drilling to date has been confined to the vanadium resource areas and uranium has not been targeted.
* Exploration drilling and sampling on sections of two of the leases has so far only been reconnaissance in nature.
* Numerous uranium occurrences have been discovered on nearby tenements, strengthening the prospectivity claims of the Gabanintha leases.

Nowthanna Uranium Project — Western Australia

The Nowthanna lease is located 47 km south east of Meekatharra and is accessible from the Great Northern Highway.

The tenement covers a portion of the calcrete Palaeo-channel near the Quinn’s Lake inland drainage. The predominant minerals are developed from extensive weathering and leaching of uranium-bearing domes and nearby Archaean mafic and ultramafic rocks that are high in vanadium.

The uranium exploration era began in the 1970s when WMC, Union Miniere, BHP and Rio Tinto became active across the Sandstone to Wiluna region.

The WMC uranium discovery at Nowthanna was the first calcrete-hosted style deposit found in the world. Later WMC found the massive resource, hosted in a similar style, at Yeelirrie. These leases hold an estimated 51,000 tonnes of contained U3O8.
In the late 1990s Acclaim Uranium NL actively explored the Nowthanna area and defined a JORC standard resource on the current YRR lease. The resource measured 3,289 contained tonnes of U3O8 from 7,309,450 tonnes of ore at 0,450 kg/t.

The exploration potential to find further uranium on the lease is high because:

* Most drilling to date has been confined to the Palaeo-channel resource targets, not lacustrine sediment uranium targets.
* Exploration drilling and sampling on sections of the area has only been reconnaissance in nature.
* Poor coverage of detailed ground geophysics has limited the geology data.
* Masking, caused by recent alluvial soil and lake cover, has limited geochemistry data.


Lake Maitland
View recent market announcements regarding this project under Investor > ASX Announcements.

* Lake Maitland Uranium Anomalies
12/03/2008

The tenements are located 200 km east of Meekatharra and are positioned centrally within the Yilgarn Uranium Region. They are 50 km north of Yeelirrie and are strategically located either side of the substantial Redport/Mega uranium deposit at Lake Maitland.

Exploration History
In the 1970s Western Mining Corporation carried out extensive exploration for uranium across a large part of the northern Yilgarn region. They established several zones of carnotite mineralisation, culminating in the discovery of the largest sedimentary uranium deposit in the world at Yeelirrie. This shallow, but extensive deposit, holds an estimated resource of 50,000 contained tonnes of U3O8.
Acclaim Uranium and Dominion Mining discovered smaller uranium deposits at Quinn's Lake and Nowthanna before Acclaim found a much larger deposit at Lake Maitland. Smaller discoveries were made around the Lake Maitland district at Lake Way, Millepede, Centipede, Hinkler Wells and Abercromby.
By the time Acclaim quit the Yilgarn Uranium Region, due to the uncertain future of uranium, the Company had proven up 5 separate resources across a span of 200km.

Current Exploration Programs
Specialist uranium explorers have now spread across the entire north Yilgarn region with the majority concentrating their exploration efforts around the Lake Maitland district. Companies are regularly reporting solid exploration results in their Quarterly announcements.

Tenement Geology
Archaean rocks of the Yilgarn Craton underlie the Yilgarn Uranium Region. These are made up mainly of granitoids with some acid meta-volcanics and sedimentary rocks. The area also includes Quaternary to Recent alluvial channels and salt lakes, e.g. Lake Maitland. These prospects are usually characterised as surficial calcrete uranium deposits, which have often developed in single layers, at depths of 2 to 6 metres from the surface. Mineralised zones can extend for several kilometres.
Yanrey

The Yanrey tenement is located 95 km south of Onslow and west of Tom Price and Paraburdoo in Western Australia it is strategically located within the Central district of the Yanrey Uranium Province, 20 km east of Manyingee and Bennett's Well and 35 km north of Mundong Well.

This region in the Ashburton area of WA, known as the Yanrey Uranium Province, is again an area of great interest to dedicated uranium explorers. They have not only locked up all the prospective ground throughout Yanrey but also across the Gascoyne Uranium Province, immediately to the south. The Yanrey Province is not a large district by Western Australian standards ensuring that most of the current exploration programs are being carried out on holdings in close proximity to each other.

The main focus for the Province has been the substantial uranium deposit discovered at Manyingee by Total Mining in 1974. Paladin Resources Ltd now owns this project and though small in size at only 13 km2, it has an inferred resource potential of 12,000 contained tonnes of U3O8. Recent exploration results have shown the sandstone-hosted roll-front style of this deposit to be a regional signature for uranium mineralisation. Paladin has proven this style to be amenable for in-situ leach (ISL) extraction.

Tenement Geology
The tenement has a large amount of Quaternary/Recent alluvial cover overlying Proterozoic sandstone, shale and granite. The nearby uranium occurrences, 20 km to the west, appear associated with Proterozoic sediments and Quaternary drainages similar to a channel already indicated across the tenement."