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ALLIANCE RESOURCES LIMITED - ASX: AGS
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Description
Alliance Resources Limited (ASX Code: AGS) is ASX listed resource company focused on the development and imminent production from its joint venture interest in the Four Mile Uranium Project in South Australia, and in realising value from its extensive exploration interests.
The Four Mile Joint Venture Area is located 550 kilometres north of Adelaide in South Australia. Alliance holds a 25% participating interest in the joint venture.
Quasar Resources Pty Ltd (Quasar), an affiliate of Heathgate Resources Pty Ltd (Heathgate), which owns and operates the Beverley Uranium Mine located 8 kilometres southeast of the Four Mile Joint Venture Area, holds a 75% interest in the joint venture and is the manager of the project.
There are two mineralised zones within the joint venture area; Four Mile West and Four Mile East. The combined The estimated mineral resource inventory for the Four Mile project is 9.8 million tonnes @ 0.33% (3,300 ppm) U3O8 containing 32,000 tonnes (71 million pounds) U3O8) in accordance with the JORC Code. This grade has the potential to make the Four Mile project the highest grade operating uranium mine in Australia and, as the Company moves toward production in 2010, the highest grade and largest producing ISR operation in the world.
In September 2008 Quasar Resources notified Alliance of its "decision to mine" and provided Alliance with a feasibility study recommending uranium mining using ISR technology, with production anticipated in 2010 at a targeted production rate of 3Mlb U3O8 per annum.
Mine For
Uranium, Copper, Gold
Location of operation(s)
South Australia, Victoria, New South Wales
Address
Suite 3 , 51 - 55 City Road
SOUTHBANK, VIC, AUSTRALIA
Phone
03 9697 9090
Website
http://www.allianceresources.com.au
Last Updated
03/02/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.