Three JV’s extend uranium explorer’s reach

ASX-listed uranium explorer, UraniumSA Limited has entered into joint ventures with...

  ASX-listed uranium explorer, UraniumSA Limited has entered into joint ventures with three other mineral explorers to extend the scope of its uranium exploration on the highly prospective eastern seaboard of South Australia’s Eyre Peninsula.The proposed joint ventures with Australasia Gold, Rex Minerals and Stellar Resources will give UraniumSA exclusive rights to follow the southward extensions of a sediment-hosted uranium deposit discovered at its Mullaquana Project, near Whyalla, in December last year.The terms of the three joint ventures provide for UraniumSA to earn a 70% interest in extensions of the Mullaquana mineralisation, while its three joint venture partners will retain 30% of these sequences, and 100% of all mineralisation discovered in bedrock.“These agreements will consolidate and optimise our first-mover advantage at Mullaquana, where our latest 33-hole drilling program identified two potentially extensive uranium mineralised trends,” UraniumSA’s Managing Director, Russel Bluck, said.“The best defined of these, the Mullaquana trend, is at least 19km long and opens out to both the east and south, so we are eager to follow its extensions and discover its full extent.“Within the Mullaquana trend, on our property alone, we have already identified at least two accumulation envelopes containing potentially economically significant uranium mineralisation,” he said.