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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.


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Alliance Resources Ltd Timeline

December 09 2014

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