Exploration Strategy

UXA has been established to explore for, locate and develop commercial grade uranium mineralisation and associated copper and gold.
UXA will focus initially on exploration in Australian geological provinces containing some of the world's largest uranium mines and exploration areas, where over 50% of world's known lowest cost recoverable uranium resources are located.

More particularly, UXA aims to:-

Locate new commercial uranium deposits in its project areas where there may also be copper and gold in any new discovery.
Collect all available past geological, geophysical, geochemical, geomorphological and exploration data, whether this be from commercial, government, university research or
Private contractor source.
Generate multi-layered digital databases applying state of the art and in-house software on both specific (drill) and continuous (geophysical) data sets for each EL and ELA.
Locate future drill targets using geochemical and other sampling techniques.
Drill the high priority zones and feed results back into the model to refine further exploration strategy.
Where appropriate, apply for government drilling funds, such as the South Australian 'PACE' programme, to accelerate exploration progress.

Concepts Behind UXA's Uranium Exploration Strategy

UXA's approach, summarised below, is in the main based on the present and future prominence of the world's largest known uranium concentration at Olympic Dam.

By far the world's largest known uranium mineralisation style is in ferruginous or haematitic (iron rich) granitic breccias.

Globally 50%, and within Australia 65%, of uranium resources are located at and surrounding Olympic Dam on the Stuart Shelf northeast part of the Gawler Craton province of central South Australia.

UEXA has secured 3,816 sq km or 13% of this area, in seven ELAs, six of which have been offered as ELs to UXA by PIRSA. These are within 20 km of undeveloped Olympic Dam satellites and other major copper/gold discoveries including Prominent Hill, 155km northwest, and RMG's July 2005 discovery at Carrapateena, 100km southeast of Olympic Dam.

The next most important uranium mineralisation style is the Unconformity Vein style, best seen in the Alligator Rivers region of the Northern Territory and Athabasca area of Saskatchewan in NW Canada and Kazakhstan, which, when combined, make up 30% of global uranium resources, and 25% of Australian resources.

UXA has four ELAs along the E,W & S margins of Kakadu National Park. The process of Native Title negotiations with each of the relevant Land Councils has been initiated for all areas.

The third most important uranium mineralisation style is within sandstones and calcrete host rocks. Globally this style accounts for 15% of uranium resources, in Australia only 5% of uranium resources are found in these rocks.

UXA has two ELAs in this uranium mineralisation style:

1.Yeelirrie SE (ELA 36/546) in Western Australia, on the SE margin of BHPB's undeveloped Yeelirrie calcrete deposit in Western Australia, part of the largest calcrete-uranium occurrence in Australia. Some early WMC drill holes intersected uranium in calcrete on this ELA.

2. Pandanus West (ELA 24565) in the Northern Territory, immediately to the west of the old Pandanus Creek uranium mine, currently held by Rio Tinto, in the Westmoreland area. UXA's Pandanus West ELA is part of the largest sandstone-uranium occurrence in Australia, which extends for over a 50km strike across the Northern Territory / Queensland border.