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Company Statement
Nimrodel was incorporated in 2006 and officially listed on the Australian Stock Exchange in November 2006 as a mineral and energy exploration company with two aims:
- The exploration for base metals and gold on its Buckaroo Project located in New South Wales; and
- The acquisition and/or participation in additional mining and energy opportunities in Australia and overseas.
The Company's primary objective is the exploration and development of mineral and resource opportunities at a time when the global demand for precious metals and energy is high.
As part of its ongoing charter, Nimrodel has been actively seeking to acquire further resource and energy projects of interest both in Australia and overseas.
Gold Projects
The Company has embarked on a strategy to review both brownfields gold projects as well as highly prospective exploration areas in a number of regions in Kyrgyzstan with the aim of acquiring a balanced portfolio of gold projects. The granting of the 70 km² Tyuz-Ashuiskaya Exploration Licence in January 2009 represents the first such acquisition by the Company.
The Tyuz-Ashuiskaya Licence, which is located in the gold-rich Chatkal region of Western Kyrgyzstan , is an under-explored area which includes the Saraysay-Tyllyaberdy gold deposit - a 7.5 kilometre long zone of surface gold mineralisation with historical surface trenches reporting high grade gold up to 8 metres at 9.8g/t.
Based on historical information including extensive surface trenching results, the Company considers that there is potential to define substantial gold resources of over 500,000oz of high-grade gold at grades in excess of 5g/t Au.
Uranium Projects
LPU currently holds a 90% interest in four granted Exploration Licenses for uranium and other metals in the Batken Oblast covering an area in excess of 3,800 square kilometres in the south western region of Kyrgyzstan. The licenses encompass a highly prospective area with geology similar to that of the Mailuu-Suu Uranium Mine, which historically produced approximately 10,000 tonnes of high-grade uranium. The leases are in the Fergana Basin, within 10km of an existing uranium plant at Hojent in Tajikistan and within 45-100kms of former Soviet uranium mines, including Mailuu-Suu and Tuya Muyun.
Having completed a significant 20,000 line km radiometric and magnetic air survey program at Batken in December 2007, 29 high priority targets were identified to be defined for a ground survey and drilling in 2008. The ground survey, as well as geological mapping and an IP survey program of the highest priority radiometric anomalies, has since been completed and a targeted drilling program has re-recommenced.
Current Operations
Linia Prava Uranium - KYRGZYSTAN
Overview
Nimrodel Resources completed the acquisition of 100% of Linia Prava Uranium (LPU) on the 17 July 2007.
LPU is a "Joint Stock Company" registered in Kyrgzystan which currently holds a:
- 100% interest in a 70 km² Gold Exploration License located in the gold-rich Chatkal region of Western Kyrgyzstan
- 90% interest in four granted Exploration Licenses covering an area in excess of 3,800 square kilometers in the southern Fergana Valley located in the south western region of Kyrgyzstan.
- 100% interest in a 48km² Prospecting License encompassing 23 uranium tailings dams at Mailuu Suu in Central Kyrgyzstan
The company has been actively exploring since 2005 and has a fully operational office in the capital city of Bishkek with 18 staff including geologists, field support staff, logistics and office personnel.
The Company has embarked on a strategy to review both brownfields gold projects as well as highly prospective exploration areas in a number of regions in Kyrgyzstan with the aim of acquiring a balanced portfolio of gold projects. The granting of the 70 km² Tyuz-Ashuiskaya Exploration Licence in January 2009 represents the first such acquisition by the Company.
Gold Projects
The Company has embarked on a strategy to review both brownfields gold projects as well as highly prospective exploration areas in a number of regions in Kyrgyzstan with the aim of acquiring a balanced portfolio of gold projects. The granting of the 70 km² Tyuz-Ashuiskaya Exploration Licence in January 2009 represents the first such acquisition by the Company.
The Tyuz-Ashuiskaya Licence, which is located in the gold-rich Chatkal region of Western Kyrgyzstan , is an under-explored area which includes the Saraysay-Tyllyaberdy gold deposit - a 7.5 kilometre long zone of surface gold mineralisation with historical surface trenches reporting high grade gold up to 8 metres at 9.8g/t.
Based on historical information including extensive surface trenching results, the Company considers that there is potential to define substantial gold resources of over 500,000oz of high-grade gold at grades in excess of 5g/t Au.
The average grade of gold in the trenches is 3.7g/t Au over an average width of 2.4m, with a best intersection reported in the historical data of 8.0m at 9.8g/t Au. The higher grade intersections are mostly confined to two zones of 800m and 1,000m of strike length respectively.
The initial focus of exploration at Tyuz-Ashuiskaya will be the development and implementation of a drilling programme for Q2 2009 to assess the extent of resources from within the higher grade portions of the main system.
Uranium Projects
The Batken Oblast Uranium Project in Southern Kyrgyz covers 3,862 km² and encompasses a highly prospective area with geology similar to that of the Mailuu-Suu Uranium Mine, which historically produced approximately 10,000 tonnes of high-grade uranium. The leases are in the Fergana Basin, within 10km of an existing uranium plant at Hojent in Tajikistan and within 45-100kms of former Soviet uranium mines, including Mailuu-Suu and Tuya Muyun.
Sedimentary rocks in the Fergana Valley are host to significant uranium deposits of "sandstone-style" or "roll-front" uranium deposits. Uranium from these deposits is considered to have been shed from primary uranium occurrences in the Alay mountain range immediately south of the LPU project areas.
In addition to airborne radiometric data, work conducted to date on the license areas by LPU and the former Soviet geologists includes radiometer spot checks of uranium anomalies followed up by water, soil, and rock geochemical sampling. This has been supported by trenching, pitting and adits within some target areas. This work has confirmed the existence of uranium mineralization in a number of localities.
Having completed a significant 20,000 line km radiometric and magnetic air survey program at Batken in December 2007, Nimrodel identified 29 high priority targets to be defined for a ground survey and drilling in 2008. The ground survey, as well as geological mapping and an IP survey program of the highest priority radiometric anomalies, has since been completed and a targeted drilling program will re-recommence after the northern winter in March 2009.
The Kan Lead - Zinc Project
In addition to the Tenements being prospective for uranium mineralization, the Shunksaiskaya licence areas contains the Kan lead and zinc deposit. The Kan deposit was mined from 1946 through to its closure in 1973. An initial IP test sequence was carried out in 2008 and will be followed up with an IP exploration program in 2009 to investigate and establish a geological model to optimise the mineralisation extraction.
The Mailuu-Suu Tailings Project
In January 2008, LPU acquired a 48 square kilometre license to explore the Mailuu-Suu district which was a significant Soviet uranium mining area from 1946-1967. The license includes , 23 uranium tailings dams and 13 mulloch deposits.
Drilling, sampling, analysis, metallurgical test work and Scoping Study was completed in 2008 which has established the re-processing technology. Potential for expansion and application to other uranium tailings deposits in Central Asia is being investigated.
The Future
Nimrodel's Kyrgyz leases provide Nimrodel shareholders with strategic investments in highly prospective exploration leases in Gold and Uranium together with a fully operational Kyrgyz company to properly manage, develop and expand Nimrodel's interests.
The Directors of Nimrodel are confident that the carefully focused 2009 exploration programme has the potential to transform the value of shareholders' interests.
Geographical Spread
Board of Directors and Key Management
| Directors | |
| Alan Broome | |
| Ian Macpherson | |
| Damian Delaney | Chief Executive Officer |
Company AddressLevel 2, 38 Richardson Street
|
Additional Address/Key ContactKYRGYZSTAN |
CapitalFully Paid Ordinary Shares on Issue:92,580,336
|
Year End30 June |
Major Shareholders
| Mr Nikolajs Zuks | 20,750,200 | 24.71 |
| Mr Jumaliev Imanbek | 6,803,400 | 8.10 |
| Adams Reward Pty Ltd | 5,833,500 | 6.95 |
| FATS Pty Ltd | 3,500,000 | 4.17 |
| Abdykaparov Chynbek | 3,396,400 | 4.04 |
Related News
11/09/09 - Nimrodel Plans To Advance Its Gold And Uranium Interests In Kyrgyzstan In A Major Way This Autumn09/06/09 - Mining At Nimrodel’s Newest Uranium Project In Kyrgyzstan Is Shaping Up To Be A Simple Backhoe Exercise
Most Recent Statement
29/01/10 - New CEO Appointed28/01/10 - First Drill Hole Intersects Gold Mineralisation
24/11/09 - Investor Roadshow Presentation
23/11/09 - Gold Drilling Update
19/11/09 - AGM Presentation
18/11/09 - CA s708A Notice