Proactive Investors - Run By Investors For Investors

Alliance Resources, Quasar Resources double uranium strike length at South Australia project

Alliance Resources, Quasar Resources double uranium strike length at South Australia project

Alliance Resources (ASX: AGS) and Quasar Resources have doubled the strike length of uranium mineralisation at the Four Mile Northeast prospect of its Four Mile Uranium Project in South Australia, after drilling unearthed further high grade uranium intercepts outside the resource envelope.

In what is and continues to be one of the great uranium deposits in Australia - grade wise, mineralisation is still open to the northeast.

Drilling has increased the strike length to about 2,200 metres from the original 1,100 metres.

Notable results include 4.9 metres at 1.83% pU3O8; 4.6 metres at 0.46% pU3O8; and 2.3 metres at 0.89% pU3O8.

The maximum width of mineralisation is about 800 metres and the average width is about 450 metres.

The Four Mile Uranium Project area is located 550 kilometres north of Adelaide in South Australia and has a total Resource of 9.8 million tonnes grading 0.33% U3O8 for 71 million pounds of U3O8.

Alliance has a 25% interest in the project while Quasar, an affiliate of Heathgate Resources, has a 75% stake.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full AGS profile View Profile

Alliance Resources Ltd Timeline

Newswire
December 09 2014

Related Articles

Battery metals favoured by electric vehicle manufacturers are a focus for Tony Sage outfit FEL
April 30 2019
FEL is acquiring lithium projects near Fortescue Metals Group discoveries in the Pilbara region of WA.
project area
February 06 2019
Drilling to improve the JORC classification and extend the current resource will start this quarter.
Gold mining project development operations at West Wits Mining
April 09 2019
Sixty per cent of Mt Cecelia project’s boundaries are surrounded by Rio Tinto, which has upped its landholding in the region by 1,000%.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use