01 July
- UXA ACQUIRES PROMPT FISSION NEUTRON TECHNOLOGY
- DRILLING TO COMMENCE ON UXA'S 100% OWNED CRYSTAL CREEK PROSPECT IN NORTHERN TERRITORY
Prompt Fission Neutron
Uranium Exploration Australia Limited (ASX: UXA) has completed the acquisition of a 3rd generation prompt fission neutron tool for use in its ongoing uranium exploration program. Prompt fission neutron (PFN) is a unique geophysical wire-line logging technology used for the direct measurement of uranium in boreholes.
By acquiring its own PFN tool, UXA becomes only the third resources company in Australia to own and use this unique technology, and the only grassroots exploration company in Australia to do so. UXA will begin utilising PFN technology on its upcoming drilling program at its Crystal Creek prospect in the Northern Territory.
UXA's Managing Director Patrick Mutz said, "We are excited to be able to employ PFN technology in the coming weeks on our most advanced uranium prospect, Crystal Creek. Given that we have already detected the presence of uranium, and with drilling set to commence in the current quarter, PFN will undoubtedly prove very useful, providing rapid and reliable in-ground uranium analysis, which will allow the drilling team to make in-field adjustments to the drilling program and focus on any areas where uranium is detected."
Advantages of PFN technology
PFN has a number of advantages over conventional gamma logging technology. PFN can...
- Eliminate concern of missing uranium in the borehole, irrespective of disequilibrium
- Provide immediate analysis of uranium within the borehole
- Analyse larger mass of host rock than core samples or drill cuttings
- Eliminate need for core sample collection in initial exploration stages
For further information regarding PFN technology, refer to the presentation on UXA's website at http://www.uxa.com.au/PromptFissionNeutronMarch2008.pdf
Crystal Creek Drilling
In June 2008 UXA finalised an exploration agreement with the Central Land Council (CLC) regarding exploration on its 100% owned Ngalia Thrust exploration licence (EL 24566) in the Northern Territory. This agreement paves the way for heritage clearance surveys to be completed in advance of drilling at the Crystal Creek Prospect.
Crystal Creek is approximately 360 kilometres northwest of Alice Springs and 30 kilometres east of Energy Metals' Bigrlyi Uranium Project in the Ngalia Basin (Figure 1), with current uranium and vanadium resources of over 23 million lbs. U3O8 and more than 43 million lbs. V2O5 (www.energymetals.net).
FIGURE 1
Location Map for Crystal Creek Prospect in NT
In January 2008, UXA announced it had identified anomalous uranium on-surface at Crystal Creek. Six soil samples collected during initial field investigations of anomalous airborne radiometric mapping averaged 90 ppm U3O8 with the highest concentration at 230 ppm.
The surface radiometric expression of Anomaly ‘A' (Figure 2) is approximately 1.5 square kilometres. Samples were collected in the south-eastern section of Anomaly ‘A' from an area approximately 400 metres long by 120 metres wide. These samples cannot be considered representative of the entire area.
Drilling is scheduled to commence at Crystal Creek Prospect in August 2008 and will focus on the area in and around Anomaly ‘A'. UXA's drill program will include up to 2,000 metres of rotary mud and diamond core. PFN will be used to log the drill holes and will allow for in-field modifications to the drill program in the event of significant uranium intercepts.
FIGURE 2
Airborne Radiometric Survey Image of EL 24566
UXA is also continuing with exploration activities on its other 100% owned exploration licences (ELs) in South Australia and Western Australia as well as on ELs controlled by a Joint Venture Agreement with RIL Australia, a subsidiary of India's largest private sector company Reliance Industries Limited.
Drilling is scheduled to commence in August 2008 on UXA's 100% owned Yeelirrie South East tenement (EL 36/546) in Western Australia for calcrete hosted uranium. Prompt fission neutron logging technology is scheduled to be used to support this drilling program.
Ground-based gravity surveys are being conducted on UXA's 100% owned Porter Hill tenement (EL 3865) in South Australia and drill site selection is underway on the UXA-RILA Joint Venture controlled exploration tenement Glenside (EL 3470) in SA.
For further information, contact:
Patrick Mutz
Managing Director
URANIUM EXPLORATION AUSTRALIA LIMITED
Tel: +61 8 8363 7970
Email: info@uxa.com.au
Website: www.uxa.com.au
Media: Farrington +612 9332 4448
JORC Compliance Statement
Technical Information in this report is based on information compiled by Dr Rodney Boucher who is employed by Linex Pty Ltd and who is a Member of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Dr Boucher has sufficient exploration experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC 2004"). Dr Boucher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
UXA listed on the ASX in November 2005 and was established to explore for, locate and develop commercial grade uranium mineralisation and associated copper and gold. UXA has 17 exploration licences (ELs) and 5 exploration licence applications (ELAs) located in South Australia, Western Australia, Northern Territory, and New South Wales. These exploration tenements cover some 9,800 km2 and are predominantly located in areas of known mineral deposits.
02 June
New Issue Announcement - Appendix 3B
1,270,000 Unlisted Employee Options issued in accordance with the Company’s Employee Share Option Plan - exercise price of 17 cents per share, expiring 30 June 2011
Appendix 3B (PDF File - 84K)
14 May
Appointment of Company Secretary
The Board of Uranium Exploration Australia Limited is pleased to advise that Mr David Godfrey has been appointed as a joint Secretary of the Company, effective from Friday 9 May 2008.
Mr Godfrey has more than 17 years of company secretarial, accounting and finance experience within the mining sector. He joined the Company in September 2007 and has previously served as Company Secretary of numerous publicly listed and proprietary companies for the Newmont Australia Group (formerly Normandy Mining). Mr Godfrey also has over six years experience in senior finance roles for major New Zealand corporations and the Treasury of New Zealand.
Yours faithfully
URANIUM EXPLORATION AUSTRALIA LIMITED
Neill Arthur
Chairman
Tel: +61 8 8363 7970
Email: info@uxa.com.au
Website: www.uxa.com.au
03 April
Exercise and Lapse of Options
The Company wishes to advise that 43,003,769 listed options exercisable at 20 cents each and expiring 31 March 2008 were not exercised by the due date and have therefore lapsed.
The balance of 553,298 listed options were exercised as set out in the attached Appendix 3B.
Yours faithfully
URANIUM EXPLORATION AUSTRALIA LIMITED
Kevin Lynn
Company Secretary
Tel: +61 8 8363 7970
Email: info@uxa.com.au
Website: www.uxa.com.au
Appendix 3B (PDF File - 140K)
05 March
COPPER MINERALISATION ENCOUNTERED AT WINJABBIE PROSPECT
- UXA DRILL RESULTS RETURN 42 METRES 0.3% COPPER INCLUDING 4 METRES AT 1.2% ON 100% OWNED WINJABBIE PROSPECT NEAR OLYMPIC DAM IN SA
- SECOND HOLE UNDERWAY ON OPPOSITE SIDE OF FAULT OVER MORE INTENSE GRAVITY SIGNATURE
Uranium Exploration Australia Limited (ASX: UXA) has received drill core analysis from the first drill hole on its 100% owned Winjabbie exploration licence (EL) 3432 in South Australia (Figure 1). Assays from core with visible chalcopyrite and chalcocite confirmed copper mineralisation at a shallower depth than previous explorers' drill holes.
UXA's drill hole 07WJ01, which started in December 2007 and was completed in January 2008, returned assay results across a 42 metre interval with average copper grade of 0.3% including 4 metres at 1.2% Cu with highest value of 3.5% Cu across 1 metre (Attached Table 1). The top of the mineralised section was intercepted at 824 metres depth with the highest copper grades in the top four metres of this mineralised section.
FIGURE 1
Location Map for Winjabbie and other UXA ELs in SA
Uranium concentration in the mineralised section of core ranged from zero to a maximum value of 60 ppm U3O8 across one metre at 824 metres depth. Gold ranged from 0 to 0.08 grams per tonne (g/t) and silver ranged from zero to a maximum value of 4 g/t across one metre at 826 metres depth.
Crystalline basement was intercepted at a depth of 778 metres, up to 100 metres shallower than expected based on previous explorers' drill holes. In addition, hematite clasts (assays pending) were identified at the top of basement, suggesting the source of the clasts are from basement at shallower depth.
Geological logs and assay information from all three drill holes, as well as geophysical survey data, will be reviewed to determine the appropriate location for another drill hole in the area to evaluate the potential for higher grade mineralisation at shallower depth.
A second drill hole (08WJ02) is currently being drilled to the west-northwest of 07WJ01 on the opposite side of the Elizabeth Creek Fault to investigate another gravity signature located adjacent to the fault (Figure 2). This hole is expected to be completed before the end of March 2008.
FIGURE 2
Drill Hole Locations Within Winjabbie Tenement
The Winjabbie prospect is located approximately 70 km south of BHP Billiton's Olympic Dam copper-gold-uranium-silver mine, 57 km west of the Carrapateena copper-gold prospect and 45 km north-northwest of the Mount Gunson copper mine on the highly prospective Stuart Shelf in the Gawler Craton in South Australia.
Two exploration holes drilled in the target area of Winjabbie by other explorers in the past also intersected low grade copper mineralisation. WJD1 was drilled by Western Mining Corporation (WMC) in 1980. This hole intersected a 56 metres interval of 0.34% Cu starting at 864 metres. SAE11 was drilled by Carpentaria Exploration Company (MIM) in 1990, 2.5 km SSW of WJD1. This hole intersected 94 metres of 0.21% Cu from 1005 metres depth and 42 metres of 0.28% Cu from 1123 metres which included 5 metres of 1.1% Cu from 1160 metres. Both holes also contained traces of gold and silver as well as low concentrations of uranium to a maximum value of 110 ppm U3O8 across a one metre interval in SAE11 at 1041 metres.
The copper mineralisation within drill holes 07WJ01, WJD1 and SAE11 appears to be relatively consistent in copper grade and mineralised horizon thickness, albeit at slightly different depths. These three holes are spread across an area of approximately 2.5 square kilometres.
UXA is also currently drilling the first hole on the Playford Prospect in South Australia, targeting potential iron-oxide, copper, gold, uranium mineralisation. This target has a gravity signature of 2 mGal and is being drilled for the UXA - RIL (Australia) Joint Venture. Drilling of the first hole at Playford is expected to be completed by the end of March 2008.
With the completion of the latest drill hole on Winjabbie in South Australia, UXA has now completed a total of approximately 8,000 metres of a planned 20,000 metre drilling program across its tenements in South Australia, Western Australia, Northern Territory and New South Wales.
For further information, contact:
Patrick Mutz
Managing Director
URANIUM EXPLORATION AUSTRALIA LIMITED
Tel: +61 8 8363 7970
Email: info@uxa.com.au
Website: www.uxa.com.au
Media: Farrington +612 9332 4448
JORC Compliance Statement
Technical Information in this report is based on information compiled by Dr Rodney Boucher who is employed by Linex Pty Ltd and who is a Member of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Dr Boucher has sufficient exploration experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC 2004"). Dr Boucher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
UXA listed on the ASX in November 2005 and was established to explore for, locate and develop commercial grade uranium mineralisation and associated copper and gold. UXA has 17 exploration licences (ELs) and 5 exploration licence applications (ELAs) located in South Australia, Western Australia, Northern Territory, and New South Wales. These exploration tenements cover some 9,800 km2 and are predominantly located in areas of known mineral deposits.
29 February
Dear Option Holder,
NOTICE OF EXPIRY OF 31 MARCH 2008 OPTIONS
Notice is hereby given that the expiry date of the Company’s listed options is Monday 31 March 2008 and as such, the final date for exercising the Company’s listed options is 5.00 pm Melbourne on 31 March 2008.
Your option holding may be exercised wholly or in part by the payment of $0.20 (20 cents) per option exercised. Option Holders will be issued with one new fully paid ordinary share in Uranium Exploration Australia Limited for each option exercised. If payment for the exercise of these options is not received by 5.00 pm Melbourne on 31 March 2008, the options will lapse and all rights under the options will cease at that time.
To convert your options to Ordinary Shares, please complete the Option Expiry Notice enclosed and forward your payment to:
Uranium Exploration Australia Limited
313 Payneham Road,
Royston Park SA 5070
Cheques and/or bank drafts should be made payable to ‘Uranium Exploration Australia Limited’ and must be in Australian Currency only and crossed ‘Not Negotiable’. There is no obligation upon Option Holders to exercise their options.
Under Appendix 6A paragraph 6.1 of the Australian Stock Exchange (ASX) Listing Rules, the Company is required to advise Option Holders of the information contained in this notice.
Latest available market sale price of the Shares was $A0.21 on 28 February 2008. Highest sale price during the 3 months proceeding 28 February 2008 was $A0.31 on 4 to 8 February 2008. Lowest sale price during the 3 months proceeding 28 February 2008 was $A0.165 on 18 February 2008. If you wish to clarify any taxation consequences relating to the Exercise of Options, please consult your solicitor, accountant or professional advisor.
If you have any other questions regarding the Options or the exercise thereof, please contact Computershare Investor Services Pty Limited on 1300 850 505 (within Australia) or +61 3 9415 4000 (outside of Australia) or Uranium Exploration Australia Limited on +61 8 8363 7970.
We at UXA look forward to your continued support.
Yours faithfully,
Patrick Mutz
Managing Director
Option Expiry Notice (PDF File - 104K)
27 February
- UXA COMMENCES DRILLING OF PLAYFORD GRAVITY TARGET NEAR OLYMPIC DAM IN SOUTH AUSTRALIA
- RELATIVE GRAVITY SIGNATURE MORE INTENSE THAN CARRAPATEENA AND PROMINENT HILL
Uranium Exploration Australia Limited (ASX: UXA) is pleased to announce drilling has commenced on a high intensity gravity target located on the common border between EL 3430 - Playford and EL 3679 - Playford South East in South Australia.
Drilling commenced on 21 February and barring unforeseen delays, is expected to be completed in mid March 2008.
The Playford prospect is an iron oxide-copper-gold-uranium (IOCGU) target located 65 kilometres (km) northwest of BHP Billiton's Olympic Dam Mine and 86 km southeast of Oxiana's Prominent Hill Mine development mine on the highly prospective Stuart Shelf in the Gawler Craton (Figure 1).
FIGURE 1
Location Map for Playford and Playford S.E. Tenements
The Playford target has been interpreted as a strong and discrete gravity anomaly with a gravity signature of 2.0 mGal (Figure 2). Modelling indicates the depth to this dense body is 900-1000 metres.
In general, the intensity of a gravity signature is related to the overall mass of the dense body. However, signal intensity decreases substantially with depth. For comparison purposes, the Carrapateena prospect has been reported to have a gravity signature of 2.0 mGal (Preview, 2006) at a depth of 400-500 metres; Prominent Hill deposit has been reported to have a gravity signature of 4.5 mGal (Preview, 2004) at a depth of 200 metres; and Olympic Dam deposit a gravity signature of 17 mGal (Preview, 2006) at a depth of approximately 350 metres. Modelling indicates if the Playford target had instead been 400-500 metres deep (similar to Carrapateena) the interpreted gravity signature would be 5 to 6 mGal.
The Playford prospect is located adjacent to a major interpreted fault structure and sits on a line between Olympic Dam and Prominent Hill. The absence of a magnetic signature suggests this anomaly is a potential hematite IOCGU deposit.
FIGURE 2
Location of Playford Drill Target
Modelling of the available gravity data has resulted in a gravity model across A-A' in Figure 2 above. This modelled target body has a inferred density of 3.2 g/cc (grams per cubic centimetre) which is an appropriate density of an IOCGU deposit (Figure 3).
The Playford and Playford South East tenements are the subject of a joint venture with RIL (Australia) Pty Ltd (RILA), a subsidiary of India's Reliance Industries Limited, a Global Fortune 500 company and the largest private sector company in India. RILA holds 49% interest in the tenements.
FIGURE 3
Playford Prospect Gravity Model
For further information, contact:
Patrick Mutz
Managing Director
URANIUM EXPLORATION AUSTRALIA LIMITED
Tel: +61 8 8363 7970
Email: info@uxa.com.au
Website: www.uxa.com.au
Media: Farrington +612 9332 4448
JORC Compliance Statement
Technical Information in this report is based on information compiled by Dr Rodney Boucher who is employed by Linex Pty Ltd and who is a Member of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Dr Boucher has sufficient exploration experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC 2004"). Dr Boucher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
UXA listed on the ASX in November 2005 and was established to explore for, locate and develop commercial grade uranium mineralisation and associated copper and gold. UXA has 17 exploration licences (ELs) and 5 exploration licence applications (ELAs) located in South Australia, Western Australia, Northern Territory, and New South Wales. These exploration tenements cover approximately 9,800 km2 and are predominantly located in areas of known mineral deposits.
Sources
Preview, June 2006. Carrapateena: Discovery of an Olympic Dam-Style Deposit; Issue No. 122, p.29.
Preview, June 2004. Geophysics of the Prominent Hill Deposit, South Australia, Issue No. 110, p. 28.
31 January
URANIUM EXPLORATION AUSTRALIA LIMITED AUDIO STREAM
URANIUM EXPLORATION AUSTRALIA LIMITED (UXA) provides the opportunity to listen to an audio broadcast with Mr Patrick Mutz, MD and Boardroomradio in a presentation titled "Joint Venture with RILA Approved".
To listen, simply copy the link below:
http://www.brr.com.au/event/40470
Or go to our website www.uxa.com.au and click on the live link to listen to the broadcast.
The presentation details are as follows;
- Joint Venture with RILA Approved
- Presented by Mr Patrick Mutz, MD
- Thirsday, January 31, 2008, 10:00 AM AEDT
Boardroomradio offers many free services, such as:.
- Boardroomradio Alerts
- Easy access to archived presentations on demand
- Podcast subscription with daily updates
|
29 January
- INDIA'S RELIANCE INDUSTRIES LIMITED SUBSIDIARY RECEIVES FEDERAL AND STATE APPROVAL FOR URANIUM EXPLORATION FARM-IN & JV WITH UXA
- RIL (AUSTRALIA) RECEIVES 49% INTEREST IN EIGHT EXPLORATION TENEMENTS WITH CONTRIBUTIONS UP TO $12.9 MILLION FOR FARM-IN AND FUTURE EXPLORATION
- JV MOVING TO DRILL LARGE IRON-OXIDE, COPPER, GOLD, URANIUM TARGET LOCATED BETWEEN OLYMPIC DAM AND PROMINENT HILL
Uranium Exploration Australia Limited (ASX: UXA) has received confirmation of Federal and State approval for its Farm-in and Joint Venture Agreement with RIL (Australia) Pty Ltd (RILA), a subsidiary of Reliance Industries Limited of India.
The Farm-in and JV Agreement was conditional on Foreign Investment Review Board (FIRB) approval under the Foreign Acquisitions and Takeovers Act 1975 (Commonwealth of Australia), and South Australian ministerial consent pursuant to section 83 of the Mining Act 1971 (South Australia) for the SA exploration licences. FIRB approval was granted on 15 January 2008 and SA Ministerial consent was granted prior to registration of the agreement with the Mining Registrar's office on 21 January 2008.
Commenting on the Federal and State approval, UXA's Managing Director Mr Patrick Mutz said, "The overall approval process was shorter than we anticipated, enabling us to fast-track our exploration plans. The early approval highlights the Commonwealth's and South Australian Government's willingness to promote and support continued investment in the Australian exploration and mining sector."
"Full approval and registration of the agreement allows the UXA/RILA Joint Venture to embark on its aggressive exploration programme. Our first step is to drill a very promising IOCGU target located on the Playford Prospect between Olympic Dam and Prominent Hill in South Australia."
"We have been very keen to commence drilling at Playford since determining the intensity of its gravity signature. For comparison purposes, the gravity signature for Playford would be greater than Carrapateena and Prominent Hill gravity signatures if all deposits were at the same depth."
Reliance Industries Limited (RIL) is a Fortune Global 500 Company and the largest private sector company in India with interests in oil and gas exploration and production, including petroleum refining, petrochemicals and marketing (www.ril.com). Through its subsidiary RILA, RIL seeks to participate in the Australian energy sector including uranium exploration and mining.
Under the terms of the Farm-in Agreement, RILA received 49% interest in four of UXA's exploration licences (ELs) in South Australia and will receive 49% interest in four of UXA's exploration licence applications (ELAs) in the Northern Territory (following grant to EL status). In exchange, UXA received cash considerations totalling $3.45 million, being $1.15 million as payment for prior exploration data and $2.3 million earn-in to be applied towards UXA's share of future exploration expenditure. In addition, RILA will contribute its 49% share of future exploration expenditures.
UXA and RILA intend to pursue an aggressive exploration programme on these tenements over the next three years with an estimated outlay of up to $19.4 million.
The four South Australian exploration licences subject to the Farm-in Agreement are:
- EL 3430 - Playford
- EL 3679 - Playford South East
- EL 3428 - Roxby Downs West, and
- EL 3470 - Glenside
All four ELs are located in the vicinity of the Olympic Dam Mine and Prominent Hill Mine development, on the highly prospective Stuart Shelf in the Gawler Craton (Figure 1).
FIGURE 1
Location Map for RILA Farm-in Tenements in South Australia
The four Northern Territory exploration licence applications subject to the Farm-in Agreement are:
- ELA 24564 - Nabarlek West
- ELA 24565 - Pandanus West
- ELA 24586 - Rum Jungle North East
- ELA 24868 - Nabarlek North
All four ELAs in the Northern Territory are located in areas of known mineral deposits. Interest in these tenements can only be transferred to RILA after the tenements are granted EL status.
Under the terms of the Farm-in Agreement, RILA's participation is retroactive to 1 July 2007 and RILA will reimburse UXA 49% of exploration costs expended between 1 July and the date of transfer and registration of interest in the South Australian ELs to RILA.
UXA-RILA Priority Drill Target
The initial exploration priority for the UXA-RILA Joint Venture will be a drill-ready target for iron-oxide, copper, gold, uranium (IOCGU) mineralisation. The target is situated near the common border of EL 3430 - Playford and EL 3679 - Playford SE (Figure 2) and is located 65 kilometres (km) northwest of BHP Billiton's Olympic Dam Mine and 86 km southeast of Oxiana's Prominent Hill Mine development on the highly prospective Stuart Shelf in South Australia.
The target has been interpreted as a strong and discrete gravity anomaly with a gravity signature of 2.0 mGal. Modelling indicates the depth to this dense body is 900-1000 metres.
In general, the intensity of a gravity signature is related to the overall mass of the dense body. However, signal intensity decreases substantially with depth. For comparison purposes, the Carrapateena prospect has been reported to have a gravity signature of 2.0 mGal (Preview, 2006) at a depth of 400-500 metres; Prominent Hill deposit has been reported to have a gravity signature of 4.5 mGal (Preview, 2004) at a depth of 200 metres; and Olympic Dam deposit a gravity signature of 17 mGal (Preview, 2006) at a depth of approximately 350 metres. Modelling indicates if the Playford target had instead been 400-500 metres deep (similar to Carrapateena) the interpreted gravity signature would be 5 to 6 mGal.
"Given the intensity of the gravity signature at Playford, the company believes that the potential for a large mineralised ore body within the tenement is excellent. The commencement of drilling is the major step towards confirming the nature of the body", Mr Mutz added.
FIGURE 2
Location of Playford/Playford S.E. IOCGU Target
The Playford prospect is located adjacent to a major interpreted fault structure and on a line between Olympic Dam and Prominent Hill. The absence of a magnetic signature suggests this anomaly is a potential hematite-rich IOCGU deposit.
Drilling is currently scheduled to begin in February 2008, pending the availability of a suitable drilling rig.
Other Exploration Activities
In addition to the eight exploration tenements involved in the Farm-in Agreement with RILA, UXA holds 13 other tenements located throughout Australia that are 100% owned by UXA and one tenement joint ventured with Newcrest Operations Limited and on which Newcrest has the opportunity to earn 75% interest by spending $3 million in four years. In total, UXA's tenements encompass 9,787 km2 and are predominantly located in areas of known mineralisation, including the largest exploration portfolio in the vicinity of the Olympic Dam Mine on the Stuart Shelf in South Australia.
For further information, contact:
Patrick Mutz
Managing Director
URANIUM EXPLORATION AUSTRALIA LIMITED
Tel: +61 8 8363 7970
Email: info@uxa.com.au
Website: www.uxa.com.au
Media: Farrington +612 9332 4448
JORC Compliance Statement
Technical Information in this report is based on information compiled by Dr Rodney Boucher who is employed by Linex Pty Ltd and who is a Member of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Dr Boucher has sufficient exploration experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC 2004"). Dr Boucher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
UXA listed on the ASX in November 2005 and was established to explore for, locate and develop commercial grade uranium mineralisation and associated copper and gold. UXA has 17 exploration licences (ELs) and 5 exploration licence applications (ELAs) located in South Australia, Western Australia, Northern Territory, and New South Wales. These exploration tenements cover some 9,800 km2 and are predominantly located in areas of known mineral deposits.
23 January
URANIUM EXPLORATION AUSTRALIA LIMITED VIDEO STREAM
URANIUM EXPLORATION AUSTRALIA LIMITED (UXA) provides the opportunity to view a video broadcast with Mr Patrick Mutz, MD and Finance News Network in an interview titled
"UXA Surface Uranium Discovery and Exploration Update".
To view, simply click on the link below:
http://www.finnewsnetwork.com/Display.aspx?Site=FNN118&Vs=DIR&Vc=IV&Vm=Int_UXA_180108.wmv
Or go to our website www.uxa.com.au and click on the live link to view the broadcast.
The presentation details are as follows:
- UXA Surface Uranium Discovery and Exploration Update
- Presented by Mr Patrick Mutz, MD
- Wednesday 23 January 2008, 10:00am AEDT
09 January
URANIUM EXPLORATION AUSTRALIA LIMITED AUDIO STREAM
URANIUM EXPLORATION AUSTRALIA LIMITED (UXA) provides the opportunity to listen to an audio broadcast with Mr Patrick Mutz, MD and Boardroomradio in a presentation titled "Surface Uranium Discovery".
To listen, simply copy the link below:
http://www.brr.com.au/event/39624
Or go to our website www.uxa.com.au and click on the live link to listen to the broadcast.
The presentation details are as follows;
- Surface Uranium Discovery
- Presented by Mr Patrick Mutz, MD
- Wednesday 9th January 2008, 1:00 PM AEDT
08 January
- UXA MAKES NEW SURFACE URANIUM DISCOVERY NEAR BIGRLYI PROJECT IN NORTHERN TERRITORY
- SIX SURFACE SAMPLES AVERAGE 90 PPM U3O8 WITH HIGHEST AT 230 PPM
Uranium Exploration Australia Limited (ASX: UXA) has discovered a surface uranium anomaly at the Crystal Creek prospect within its 100% owned EL 24566 - Ngalia Thrust, in the Northern Territory. The discovery is approximately 30 kilometres east of Energy Metals' Bigrlyi Uranium Project in the Ngalia Basin (Figure 1) and approximately 360 kilometres northwest of Alice Springs.
FIGURE 1
Discovery Area within EL24566 in Northern Territory
Six soil samples collected during initial field investigations of anomalous surface uranium averaged 90 ppm U3O8 with the highest concentration at 230 ppm. The surface radiometric expression of Anomaly ‘A' (Figure 2) is approximately 1.5 square kilometres. Samples were collected in the south-eastern section of Anomaly ‘A' from an area approximately 400 metres long by 120 metres wide.
Commenting on the discovery, UXA's Managing Director Patrick Mutz said, "We are obviously very excited by this find, which represents the company's maiden uranium discovery.
"Albeit early in the exploration process, there are a number of indicators at Crystal Creek suggesting hydrothermal activities may have played a part in mobilising and redepositing uranium in this area.
"We are currently planning a detailed field programme to include mapping and geochemical sampling, which will be followed by a focused drilling programme to investigate the depth and aerial extent of the uranium mineralisation.
"The field programme will begin following heritage clearance surveys which are currently being scheduled, and drilling will incorporate Prompt Fission Neutron technology so that adjustments to the drilling programme can be made in the field, instead of waiting for laboratory assays."
The Crystal Creek discovery was made during an initial field investigation to follow-up on uranium signatures identified from a detailed, airborne radiometric survey conducted in October 2007. Field crews confirmed surface radiometric readings ranging from 700 to as high as 3,500 counts per second (cps) at Anomaly ‘A' using a hand held scintillometer. Surface samples were collected and analysed to confirm the presence of uranium (Table 1).
Table 1
Anomaly ‘A' Surface Sample Assays (XRF)
Sample ID
|
PPM U3O8
|
Scintillometer (cps)
|
NT23
|
230
|
3500
|
NT68
|
106
|
1200
|
NT71a
|
33
|
700
|
NT71b
|
42
|
800
|
NT72
|
92
|
1700
|
NT75
|
38
|
2100
|
Average
|
90
|
1667
|
Median
|
67
|
1450
|
Notes: Sample depth was 0-10 centimetres for all samples except NT71b
which was sampled at 10-20 centimetres for shallow depth profile.
Secondary field investigations of Anomaly ‘B' (Figure 2) identified an outcrop of apparent uranium-rich granite. Scintillometer readings generally ranged from 700-1000 cps, with a few scattered point sources as high as 4,500 cps. Analyses of rock chip samples are pending but expected by the end of January. This granite may be a source of uranium for surrounding sediments due to weathering or leaching by fluid flow through faults and fissures.
Anomaly ‘B' covers an area of approximately 2.3 square kilometres and is located approximately two kilometres northwest of Anomaly ‘A'.
Initial geological investigation of the surface anomaly at Crystal Creek has indentified a bleached and weathered granitic surface with possible alteration. In addition, a silcrete layer or siliceous cap (Figure 2) has been identified to the south of Anomaly ‘A'. This layer remains intact over a large area, above the bleached granite, where it has not been fractured and broken due to preferential erosion of the underlying granite.
FIGURE 2
Airborne Radiometric Survey Image of EL 24566
The radiometric surface of Anomaly 'A' appears to have been exposed following erosion at the edges of the overlying silcrete layer. UXA will be investigating whether there is a geological relationship between this silcrete layer and uranium mineralisation similar to the uranium mineralisation and overlying silcrete at Heathgate Resources' recently discovered Four Mile uranium deposit in South Australia (Johnson, 2007).
UXA will also investigate whether the bleached or hydrothermally altered granite in Anomaly 'A' has any similarities to the "white zone" reported in the Athabasca Basin uranium mineralisation model in Canada (Jefferson et al, 2006).
A detailed field programme including mapping and geochemical sampling is being planned and is expected to be followed closely by a focused drilling programme to investigate the depth, style and areal extent of uranium mineralisation. Drilling can only begin with the completion of a successful heritage clearance survey of the prospect area by representatives of the Central Land Council and Traditional Owners. A clearance survey is currently being scheduled.
Variations between field gamma measurements and uranium assays suggest potential disequilibrium between uranium and its decay products, and/or the presence of other radionuclides such as potassium or thorium. Consequently, the drilling programme being planned is scheduled to incorporate Prompt Fission Neutron (PFN) geophysical wire-line logging technology. PFN technology is a unique detection technology for the direct measurement of uranium within a borehole. Unlike conventional gamma technology, PFN is not affected by disequilibrium or the presence of other radionuclides, and will provide immediate uranium analysis to the field crew so that drilling program adjustments can be made in the field to follow up on any uranium intercept. UXA has gained access to PFN technology through a strategic alliance with Geoscience Associates Australia in South Australia; the only geophysical logging company in Australia with commercially available PFN technology.
Whilst PFN technology is a proven technology and used extensively in the in situ uranium mining sector in the United States, it is relatively unknown in the uranium exploration sector in Australia. However, PFN has played a major role in the discovery and resource development of Heathgate Resources' Four Mile Uranium deposit in South Australia.
"In addition to the new Crystal Creek discovery, UXA is very busy with a drilling programme on its Stuart Shelf - Olympic Dam region exploration prospects. The company is well funded to progress its exploration programme, including contributions of up to $12.9 million across the next three years from the recently announced Farm-in and Joint Venture agreement with Reliance Industries of India," Mr Mutz added.
For further information, contact:
Patrick Mutz
Managing Director
URANIUM EXPLORATION AUSTRALIA LIMITED
Tel: +61 8 8363 7970
Email: info@uxa.com.au
Website: www.uxa.com.au
Media: Farrington +612 9332 4448
JORC Compliance Statement
Technical Information in this report is based on information compiled by Dr Rodney Boucher who is employed by Linex Pty Ltd and who is a Member of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Dr Boucher has sufficient exploration experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC 2004"). Dr Boucher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
References
Jefferson, C.W., Thomas, D.J., Gandhi, S.S., Ramaekers, P., Delaney, G., Brisbin, D., Cutts, C., Portella, P. and Olson, R.A., 2006. Mineral Deposits of Canada- Unconformity Associated Uranium Deposits: Geological Survey of Canada; http://gsc.nrcan.gc.ca/mindep/synth_dep/uranium/index_e.php#t3.
Johnson, S., 2007. Australia's Premier Uranium Discovery; Presentation at Alliance Resources Limited's Annual General Meeting by CEO Mr Steve Johnson, 29 November 2007, Slide 17 of 29; http://www.allianceresources.com.au/
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