Four Mile East high-grade zone extended

Uranium, gold and copper group, Alliance Resources has further enhanced....

  Uranium, gold and copper group, Alliance Resources has further enhanced the resource potential of the Four Mile Uranium Project, held in joint venture with Quasar Resources, yesterday announcing additional high-grade uranium intercepts from the Four Mile East prospect.Alliance and Quasar have also moved closer to project development, commencing Mineral Claim pegging in preparation for Mining Lease applications.The new high-grade intersections, from 37 holes drilled in June 2007 by Four Mile Project operator, Quasar, follow a series of excellent results recorded during an ongoing step out drilling program utilising up to four drill rigs.The latest results include 3.1m at 0.44% pU3O8, 1.9m at 0.50% pU3O8, 2.7m at 0.34% pU3O8, 1.0m at 0.69% pU3O8, and 1.7m at 0.39% pU3O8.In addition to the succession of high-grade results received to date, drilling has extended the strike length of a high-grade mineralised zone at Four Mile East to in excess of 900m. The zone remains open to the northeast and southwest.According to the JV partners, several mineralised zones have been intersected at Four Mile East, with modelling suggesting the identified high-grade zone is oriented to the northeast, similar to a high-grade zone confirmed by Alliance and Quasar at the Four Mile West prospect. Alliance Chief Executive Officer, Steve Johnston said drilling was focusing on one of these higher-grade zones, with the aim of defining a resource.“This project has substantial scope and our larger regional program has the potential to deliver either Four Mile and/or Beverley-style mineralisation,” Mr Johnston said.