16 Aug 2005

Australian company hopes to drill for uranium in Niue this year

1:56 pm on 16 August 2005

An Australian exploration company says it hopes to begin drilling for uranium on Niue by the end of the year.

Yamarna Goldfields says geological modelling shows there is the potential for a uranium deposit on Niue "equal or greater" than the world's biggest deposit in South Australia.

The company has signed an agreement with Canberra-based explorer Avian Mining to take a stake of up to 80 per cent in the project and to spend over 920,000 US dollars on exploration work.

Yamarna Director Richard Revelins says they are excited about the prospects.

"We're planning to be there in a couple of weeks time. We will be doing some ge ochem work and some soil sampling and we plan to be drilling in the next 60 to 90 days."

Mr Revelins says the company will discuss their plans with the Niue government soon.

He says although Uranium is a radioactive material, modern mining procedures are safe.