The Four Mile Uranium Project is located 550km north of Adelaide in South Australia. The project contains the Four Mile uranium discovery.
The project is managed by Quasar on behalf of the joint venture - Quasar Resources (75%) and Alliance Resources (25%). Alliance Resources (Alliance) is free carried through exploration to a decision to mine.
Quasar discovered the Four Mile uranium deposit in April 2005 and has been actively defining the extent of the resources for the past 3 years.
The deposit is a sandstone-hosted occurrence defined by two mineralised zones within Tertiary age sediments: Four Mile West and Four Mile East, which occur within laterally extensive sands from 140 to 220m depth.
In May 2007, Quasar announced an Inferred Mineral Resource for the Four Mile West Uranium Deposit of 3.9 million tonnes at 0.37% U3O8 containing 15,000 tonnes (32 million lbs) of U3O8. The Four Mile West resource estimate area is ~1km2 and is within a much larger area (~7km2) of potential mineralisation as indicated by broad-spaced drilling and anomalous gamma responses. An initial resource estimate for the Four Mile East discovery is expected to be completed during the 3rd Quarter of 2008.
Sixty three (63) mineral claim applications have been lodged to cover the area of the Four Mile West Uranium Deposit. A Mining Lease application was lodged on Friday 16 May 2008.
A Public Environment Report was lodged with PIRSA in January 2009 with a public response period ending on 20 February 2009.
The Four Mile Uranium Project is located 550km north of Adelaide in South Australia. The project contains the Four Mile uranium discovery.
www.allianceresources.com.au