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UraniumSA

UraniumSA is an ASX listed Adelaide based uranium only explorer specialising in uranium mineralisation within South Australia’s Gawler Craton. The Company keeps its exploration focus on one commodity; it operates in a single geological domain which enables it to become knowledgeable about the geology it works with; and it stays within the single regulatory regime of South Australia which is recognised as one of the best mining jurisdictions in the world.

The Company has discovered uranium mineralisation within Exploration Licence 4979 at its Samphire project which is located 20km south of the industrial city of Whyalla on the eastern Eyre Peninsula in South Australia. The Exploration Licence is owned and operated by Samphire Uranium Pty Ltd, a wholly owned subsidiary of UraniumSA Limited.

The Samphire project contains the Blackbush and Plumbush deposits which have aggregated Inferred Resources of uranium mineralisation of 18,300 tonnes of U3O8 (63.3Mt mineralisation at 290ppm U3O8 equivalent to approximately 41 million pounds of U3O8).

Ongoing exploration is investigating the distribution of high grade mineralisation within the Blackbush deposit in sediments, at the unconformity at the base of Eocene, and in the underlying granite basement. Significant intercepts of high grade uranium mineralisation have been made and reported to ASX, and the project is considered to have significant potential for more such discoveries.

There are several styles of mineralisation present in the Blackbush deposit and an evaluation of mining methods to optimise the recovery of uranium has commenced. This includes consideration of open cut options for the sediment-hosted and granite basement hosted uranium mineralisation in addition to an ongoing evaluation of in-situ recovery operations. Application has been made for a Retention Lease for an in-situ recovery field trial at the Blackbush deposit.

Through its own tenure and by Joint Venture the Company has exploration control over what it considers the most prospective portions of the Pirie Basin.