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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	USA
Latest Price:	0.14 (0.00%)
52-week High:	0.60
52-week Low:	0.11
Market Cap:	19.88M

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UraniumSA

UraniumSA is an Adelaide-based uranium-only explorer specialising in sediment-hosted and unconformity styles of uranium mineralisation within a substantial portfolio of properties in South Australia’s Gawler Craton. The company has a portfolio of uranium properties located within South Australia comprising six projects in two principal areas.

The Eastern Eyre Peninsula, located 300km west of Adelaide, includes the Mullaquana, Cleve and Tumby Bay Projects, and the Kingoonya Palaeochannel System, 600km northwest of Adelaide, includes the Tarcoola and Muckanippie projects.

The company's mission is to discover and develop quality mining assets that deliver environmentally and economically sustainable outcomes to the company, its stakeholders and the communities it works within.

UraniumSA expands uranium tenements control through joint ventures in Pirie Basin

Friday, June 12, 2009

A new joint venture agreement has given UraniumSA (ASX: USA) a 70% interest in all minerals within Exploration Licence 4242 in South Australia’s Gawler Craton. Stellar Resources (ASX: SRZ) will have a 30% interest free carried to the identification of a JORC compliant Inferred Resource.

Significantly, this provides UraniumSA with the tenement ground immediately south of the 100% owned Mullaquana Exploration Licence 3652 and Blackbush uranium prospect. To date, The Blackbush Prospect (at Mullaquana) has Inferred Resources of ~2,700 tonnes contained U3O8.

UraniumSA has also signed a joint venture agreement with Australasia Gold Limited (ASX: AAO) that gives UraniumSA a 70% interest in uranium and associated minerals within its targeted cover sequence within a defined portion of Exploration Licence 3542, with AAO having its 30%.

Both agreements have been submitted to State Goverment for registration and required approvals.

Interestingly, through these Joint Ventures and its own 100% owned Mullaquana tenure UraniumSA now has exploration control over the majority of those parts of the Pirie Basin which it considers most prospective for the discovery of repetitions of the recently announced Blackbush Prospect (2,700t contained U3O8, ASX release 5th May 2009).

USA's strategy is to progress its portfolio of projects with positive exploration results, drill indicated resources of uranium mineralisation, and move toward a mine development.

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