| Project: | Nupower |
| Commodity: | Uranium , Gold |
| Royalty: | 0.9% NSR |
| Subsidiary: | Altus Royalties Holdings Ltd |
| Location: | Australia |
| Deposit Style: | Lower Proterozoic Murphy Inlier underlain by Cliffdale Volcanics and Nicholson Granite Complex |
| Key Attributes: | MLN 585, MLN 587 |
| Asset Stage: | Exploration |
| Results: | Pre-resource stage |
| Next Phase of Work: | Exploration |
| Deal Partner: | Uranium Australia Pty Ltd |
| Deal Terms: | Acquired from Newcrest Mining |
Project Overview
Nupower comprises two tenements, MLN 578 and MLN 585, each with a historic small-scale uranium mine, Cobar 2 Mine and Eva Mine respectively. The tenements are located in the Northern Territory of Australia and are operated by Uranium Australia (UAU) Pty Ltd after their takeover from Verdant Minerals Ltd.
Nupower Resources carried out exploration drilling in 2010 at the Cobar 2 Mine and Eva Mine. Cobar 2 is a Roll front type Uranium deposit and was a former producer from small scale underground workings. The Eva prospect is also a Roll front type Uranium deposit overprinting potential intrusion hosted gold mineralisation – gold was reported at the prospect during exploration in 2010. The geology is the Lower Proterozoic Murphy Inlier underlain by Cliffdale Volcanics and the Nicholson Granite Complex.
Royalty Overview
Altus owns 80.1% of a 0.9% NSR in Nupower, a Pre-Resource Stage project in the Royalty Portfolio.
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