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RESOURCE STAR LIMITED

ASX: RSL

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Resource Star Limited has operated as a mineral explorer since 2007, predominantly in the uranium and rare earth sectors in Australia and Malawai. The company is seeking to identify new opportunities in the resource and energy sector and beyond to add shareholder value.

The Spinifex Project (WA) is an unconformity related uranium project that is located approximately 50km south of Kununurra in Western Australia. The tenement covers about 119 square kilometres. RSL has completed additional geological mapping, identified drill hole locations, and obtained permits and heritage clearance to proceed with an initial drilling programme. Indications of the cost of a programme were received and discussions held with prospective contractors. The Company has applied for an extension of term.

The Edith River Project (NT) comprises Exploration Licences that cover almost 400km2, approximately 230km south of Darwin, between Pine Creek and Katherine in the Northern Territory. The project is at the southern end of the north-northwest trending Pine Creek Shear Zone and the granite within the project area contains a number of shears that have a similar orientation.

The Celia Project (NT) covers 12.9km2 and is about 90km south of Darwin by road.It is prospective for uranium and polymetallic mineralisation and a magnesite deposit is present within the tenement, which, despite being only a few kilometres from the Rum Jungle uranium and polymetallic mines and the Woodcutters Zn-Pb mine, has been subject to little systematic exploration for minerals other than magnesite. The lease was applied for by Tennant Creek Gold (NT) Pty Ltd. An agreement with Orion is in place whereby it is to be transferred after grant. The ELA is within Aboriginal Freehold Land and the consent of the owners is required before the tenement can be granted and exploration can take place. In November 2007 the indigenous stakeholders in the area indicated that they would not consent to the grant of the tenement. Unless the Northern Land Council indicates otherwise, the tenement is consequently under moratorium for a five year period.

The Woolgni Project (NT) covers over 352km2 and the historical Woolgni Goldfield is within the project area. The tenements are situated near the southern extent of the Pine Creek Geosyncline, in the vicinity of the Pine Creek Shear. The Hore and O’Connors uranium occurrence is present within the project area, which also includes three gold prospects: the Woolgni Goldfield, the Tower Prospect, and the Copperfield South Prospect. The Tower Prospect has never been drill-tested.

During 2006, Orion commissioned AsIs to carry out a reinterpretation of exploration data over the Woolgni and Edith River project areas. AsIs concluded that the project area was highly prospective for uranium mineralisation, including vein, and Iron Oxide Copper Gold Uranium (IOCGU) deposit types. In conjunction with the uranium exploration program on the Edith River Project, detailed mapping, soil geochemistry, and ground radiometrics are proposed to investigate the uranium potential of the Woolgni Project.

In conjunction with Malawian private company, Nyalihanga Enterprises Ltd, Resource Star has progressed exploration over the Ilomba Hill Project, confirming significant niobium and uranium anomalies, and also defining rare earth element anomalism near to, but separate from the previously known mineralisation. Initial work by Resource Star in 2010 involved a detailed airborne geophysical survey, followed up by comprehensive soil sampling to delineate areas for further exploration.

In 2011 Globe Metals and Mining Ltd (ASX:GBE) acquired 1005 of the Machinga Niobium-Rare Earth Project, with RSL retaining a 0.7% gross production royalty. Currently, the company is looking to diversify out of the resource sector to add shareholder value.

Mine For

uranium, niobium, rare earth elements, iron ore, gold, base metals, magnetite, tantalum, zircon

Location of operation(s)

Northern Territory, Western Australia, Malawi

Address

Level 2, Spectrum 100 Railway Road
SUBIACO, WA, AUSTRALIA

Phone

+61 (8) 9367 8133

Email

Website


Last Updated

19/2/2015

 

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.

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