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Regalpoint Resources reveals high grade uranium at King Leopold, gold at Rum Jungle

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Regalpoint Resources (ASX: RGU) has found up to 0.43% Uranium from sampling at its wholly-owned King Leopold Project in Western Australia.

The company has also encountered up to 6 metres at 3.91 grams per tonne (g/t) gold, including 1 metre at 13.2 g/t gold at the Highlander Gold Project within Regalpoint’s Rum Jungle project in the Northern Territory.

At King Leopold the company has been following up the significant results obtained from the initial campaign at its Paroo Project. A first pass investigation of radiometric and historic targets has been undertaken to determine priority with geochemical samples collected from particular anomalous zones.

Initial spectrometer measurement of targets has returned promising uranium results from four anomalies including: Juno 850 parts per million (ppm) equivalent uranium (eU), L48 671 ppm eU, Jupiter 522 ppm eU, and L43 186 ppm eU.

Follow-up chemical analysis of these high spectrometer values has confirmed the significant uranium values with up to 0.43% uranium from Juno and 840 ppm uranium from the L48 prospect area.

Regalpoint considers the project area is highly prospective for volcanic-hosted uranium-bearing vein systems and unconformity-related mineralisation as well as sandstone hosted mineralisation in the basal permeable sandstones of the Kimberley Group.

The company is planning a ground geochemical sampling and drilling program to test these prospect areas and other elevated uranium anomalies in early 2012 as soon as ground conditions following the northern wet season permit access.

Highlander Gold Prospect

The Highlander gold prospect is a historical gold anomaly located east of Batchelor in the Northern Territory.

Regalpoint undertook a program of costean excavation, mapping and sampling and an initial 1,540 metre reverse circulation drill program to test the strike and depth of mineralisation and to verify the historical drill results.

Historical shallow reverse circulation drilling at Highlander returned assays up to 9 metres at 1.88 g/t and 3 metres at 2.90 g/t gold.

The latest results highlight the potential to identify primary high grade shoots within this zone. Regalpoint will undertake further drilling to target higher grade pods.

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