12 October 2022 – Bromborough (UK): NewEra Metal Resources Ltd (the “Company” or “NewEra”) is pleased to announce two new uranium projects in the highly prospective Neuquén Basin of west-central Argentina. The Los Chihuidos and Quemado projects are situated in the Anelo Department of Neuquén Province and comprise 44,700 and 8,000 ha respectively.
The licenced areas form part of a uraniferous district which covers a wide area characterised by the bleaching and alteration of Cretaceous sandstones that contain abundant carbon debris and hydrocarbons. Anomalous uranium, vanadium and copper occur at regional formational contacts and uranium values up to 2,282 ppm U have been reported historically from surface samples in the area.
These formational contacts have regional extent, indicating the potential for new discoveries of uranium in this central part of the Neuquén Basin. NewEra is considering further studies in the Basin to identify new target areas with potential for uranium mineralisation.
The Company is reviewing different finance options for its uranium project portfolio in Argentina.
