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URANEX LIMITED - ASX: UNX
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Description
Uranex is an Australian based uranium exploration and development company with a diverse pipeline of projects in Australia and Africa. The company is well supported by an experienced board and management team with specific skills in uranium project development, from the exploration phase through to mining and production.
Bahi Project Area – Central Tanzania (Uranex 100%)
The Bahi Project is located to the southeast of the Company’s Manyoni Project in Central Tanzania, and consists of 2,300 km2 of granted licences and applications. (Figure 1) The Bahi Project contains prospective playa depositional environments, and as such is considered to have high potential to add further uranium resources in the vicinity of the Company’s Manyoni Project.
Manyoni Project - Central Tanzania (Uranex 100%)
The Manyoni and Bahi Region Project in Central Tanzania covers an area of approximately 4,000km2. The project area is linked by road and rail to the national capital of Dodoma located 70kms to the east. The region incorporates an extensive closed draining system developed over weathered uranium rich granites. This drainage captures dissolved uranium leached from underlying rocks and transports it to suitable precipitation trap sites (playa lakes) along the drainages, and ultimately into the enormous 40x30km Bahi Playa Lake. Uranex holds approximately 400km2 (or approximately one-third) of the ‘head waters’ entry in the northwest area of Lake Bahi.
Testwork to date at Manyoni has shown potential amenability to heap leach processing, which if shown to be appropriate by gurrent planned testwork, could enable future production at low cut-off grades.
Mkuju Project - Southern Tanzania (Uranex 100%)
Extensive uranium anomalies over a total strike extent of 69km have been identified within five (5) separate prospect areas including Likuyu North (5km), Likuyu South (18km) Mteramwahi South (19 km), Mteramwahi North (17 km) and Matemanga (10 km). All anomalies are interpreted to occur within Karoo sandstone hosted environment.
The Company is targeting sandstone hosted tabular and roll-front deposits. Examples of sandstone hosted tabular deposits are Mantra Resources Limited’s Nyota prospect in Southern Tanzania (101.4M lbs @ 422ppm U3O8), Paladin Energy Limited’s Kayelakera Mine in Malawi (46M lbs @ 802ppm U3O8), both of which are hosted nearby in similar geological settings of Karoo sandstones. Examples of sandstone hosted roll-front deposits are Alliance Resources/Headgate Resources Four Mile project in South Australia (72M lbs @ 3,700ppm U3O8).
Significant multiple intersections and high grade assays have been reported from a 2,400m 16 hole diamond drilling program in 2010 at the Likuyu North prospect, which focused on a 500m anomalous zone, out of a total strike extent of 5km within a 5000km2 project area.
Substantial high grade intersections have been reported from a 4,100m 34 hole aircore drilling program in 2011 at Likuyu North prospect, which has extended the mineralised zone significantly along the 5 km strike with mineralisation open in all directions, with a number of holes ending in mineralisation.
Itigi Prospect - Central Tanzania (Uranex 100%)
The Itigi Project is located approximately 50km west of the Company’s Manyoni Project in Central Tanzania. The Itigi Prospect contains prospective playa depositional environments, coincident with a series of radiometric anomalies stretching for some 40km, and as such is considered to have high potential to add further uranium resources in the vicinity of the Company’s Manyoni Project.
Mt.Danvers Project - Western Australia (Uranex 100%)
The company is targeting unconformity related Uranium deposits similar to the East Alligator region of the NT, Athabasca Basin Canada and nearby in WA the Rudall – Throssell (Kintyre). The tenements are also prospective for a number of other base metals, including, copper, lead and manganese.
The tenements that form the Mt Danvers Project comprising 2 granted exploration licences covering a total area of approximately 280km2, situated approximately 300 kms northeast of Carnarvon in Western Australia.
A 6,000m RAB drilling program is planned for 2011, supported by a $38,000 drilling grant from the Western Australian government.
Amadeus - Northern Territory (Uranex 100%)
The Project area comprises approximately 1,200km2 in the Amadeus Basin in the Northern Territory, and is prospective for sandstone hosted uranium deposits similar to the nearby Pamela/Angela (Cameco) and Napperby (Deep Yellow) deposits. Field Reconnaissance and Desktop Studies have commenced at the project, with an initial drilling programme planned for 2011.
Alligator River Project - Northern Territory (Uranex 100%)
The Alligator Rivers Project is located in Northern Territory Pine Creek gesoyncline which hosts the world class uranium deposits such as Ranger, Nabarlek and Jabiluka. Uranex’s tenements, Love Creek (EL 26164) & Swim Creek (EL 26165) incorporate a number of key geological elements considered favourable for the formation of unconformity style mineralisation that typify the major uranium deposits mentioned above.
Bremer Basin - Western Australia (Uranex 100%)
· 5,000m drilling program commenced at Bremer Basin, WA
· Targeting Mulga Rock and Redox Associated Roll Front Style Deposits
· Earlier drilling by Uranex yielded results up to 1m @ 248 ppm U3O8
· Co-Funded by the Western Australian Government
Thatcher Soak – Western Australia (Uranex 100%)
• Easily accessed shallow deposit
• Low cost mining
• Simple processing
• Exploration has extended and enhanced historic mineralisation
• New zones have been discovered at depth and to the north
The Thatcher Soak uranium deposit is located 130km north-east of Laverton in Western Australia and covers an area of about 224km2. Most of the deposit is located in granted exploration licence E38/1732 to which Uranex holds 100% of the uranium rights.
Mine For
uranium, coal
Location of operation(s)
Tanzania, Western Australia, Northern Territory
Address
Level 3, 15 Queen St
MELBOURNE, VIC, AUSTRALIA
Phone
(03) 9621 1533
Website
Last Updated
26/10/2011
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.
