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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	CUU
Latest Price:	0.02 (4.35% )
52-week High:	0.10
52-week Low:	0.02
Market Cap:	1.53M

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Callabonna Uranium

Callabonna Uranium Limited (ASX: CUU) was created in September 2009 through the merger of listed MKY Resources Limited (MKY) and then unlisted Callabonna Uranium Limited.

Callabonna Uranium’s Curnamona Project in the Frome Embayment includes 7,981 square kilometres of prime exploration ground on the northeast faulted margin of the Curnamona Craton. It is situated in a structural and stratigraphic setting interpreted to be comparable to Beverley and Beverley Four Mile uranium mines.

Callabonna Uranium on track to drill large uranium anomaly at Five Mile Creek

Thursday, February 23, 2012 by Christine Feary

Callabonna Uranium (ASX: CUU) is all set to commence drilling at the Five Mile Creek prospect to follow up on a Mobile Metal Ion survey which identified a large uranium anomaly.

Will all required permits received, drilling at Five Mile Creek is expected to begin in early April 2012. The drilling contract has been awarded to Adelaide-based Underdale Drilling.

No previous exploration holes have been drilled in the area or nearby.

A total of 22 drill holes are planned over the anomaly, which is 4,000 metres long and up to 1,000 metres wide.

Drilling will test the mineralisation to determine whether it contains ore grade uranium at a mineable thickness.

With nearby granite outcrops containing secondary uranium, proving the presence of a local uranium source, Callabonna is hopeful of finding near surface concentration.

The Arunta Mt Denison project, which includes Five Mile Creek, is located 250 kilometres northwest of Alice Springs in the Northern Territory.

Significantly, the company believes mineralisation Five Mile Creek could bear similarities to Deep Yellow's (ASX: DYL) nearby Napperby project, which hosts 7.39 million pounds of uranium.

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