Uranium Australia Ltd (UAU) was founded in 2007 as a dedicated uranium exploration and development company with world class uranium projects in the NORTHERN TERRITORY and WESTERN AUSTRALIA. Uranium Australia projects are at various stages of exploration and development ranging from late stage (JORC Code compliant resource and pre-JORC resource estimates) through mid stage (uranium drill intercepts) to early stage (radiometric anomalies). Uranium Australia is targeting a JORC Code compliant resource base of 10,000 tones (22 million pounds) of uranium oxide within 2 years. What distinguishes Uranium Australia amongst many other exploration companies is its exploration strategy which is loosely termed the “Mineral Systems” approach. This philosophy centres on applying the understanding of the mineralising processes in a predicative capacity, rather than utilising a purely empirical approach. It is a method focusing on ‘why’ mineralisation occurs and ‘where’ it should occur under various geological conditions. This is in contrast to a traditional approach which largely targets only geochemical or geophysical anomalies. The “Mineral Systems” approach has several benefits. It enables the Company to explore for several styles of uranium mineralisation as opposed to focusing on a single mineralisation model such as surficial calcrete-based or unconformity related uranium. In addition, the Company increases the chances for discovering an entirely new zone or a different style of mineralisation by utilising the available data in a more holistic fashion.
In the NORTHERN TERRITORY, Uranium Australia explores two projects - Batchelor and Green Alligator which are located within the Pine Creek Orogen's Rum Jungle Mineral Field. Pine Creek Orogen is a main uranium producing area in Australia. Deposit grades here are in the range 0.185–2.0% U3O8. Ore tonnages range up to 31 million tonnes (Jabiluka2). The best known historical and currently operating uranium mines in the area include Rum Jungle Creek South, Ranger and Jabiluka. At Batchelor/Green Alligator UAU is focusing on the low-cost, high-value unconformity related uranium mineralisation which occurs on the carbon-rich interface between the Coomalie Dolostone and the Whites Formation. Unconformity-type uranium deposits contribute about 20% of Australia’s total uranium resources inventory, and altogether, represent about 30% of the world’s low-cost category resources. Last year, Pine Creek Orogen has produced about 10% of global uranium supply. Deposits in Rum Jungle tend to occur at shallow depths and historically had grades of between 0.2% and 0.6% of uranium.
The largest of the uranium deposits, RUM JUNGLE CREEK SOUTH which is located on the boundary of Uranium Australia’s exploration leases occurred at a very shallow depth and was mined at a grade of 0.48% uranium for approximately 9 million pounds of uranium oxide. Uranium Australia’s Northern Territory projects extends for 20 km from the pit wall of RUM JUNGLE CREEK SOUTH which was the largest uranium mine within Rum Jungle Mineral Field (RJMF) along the uranium bearing carbon-rich interface which hosts all major uranium mineralisation within the RJMF. RJMF is the location of several high grade uranium deposits and mines and is the oldest uranium producing region in Australia. It is considered by experts to be the most promising area for the discovery of near-surface high-grade unconformity-style uranium deposits. In Western Australia, Uranium Australia is exploring several projects located in the Ashburton/Gascoyne province and in the Yilgarn craton. Prior to the introduction of uranium ban in Western Australia by the state government these projects were being explored by international uranium giants Comeco, Areva, Uranerz and the Japanese government uranium exploration arm, PNC Exploration Australia. Their work has lead to the definition of several areas containing uranium mineralisation. These uranium prospects include unconformity related, vein hosted, sandstone hosted and calcretic deposits. Following the lifting of the uranium ban in Western Australia in 2008, Uranium Australia is ideally placed to reap the benefits of their exploration success.
ANNUAL FINANCIAL REPORTS
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announcementsNew board appointment - Mr. Terry Jackson will join the board of Uranium Australia Ltd effective 1 March 2010 as a Non-executive Director. Mr, Jackson is a Western Australian Industrialist with a private group of companies that has interests in innovative manufacturing, intellectual property development and vineyards. He has had business relationships with many major international corporations including a research partnerships with Exxon, Toyota, Johnson Controls and Austria Steel. He is a Foundation Fellow of The Australian Institute of Company Directors. He is currently Non-executive Director of ASX-listed uranium, rare earths and phosphate miner Arafura Resources Ltd. Uranium Australia plans to conduct a series of broker presentations during the next 2 weeks. Uranium Australia expects to issue the IPO prospectus shortly after the completion of the road show. Shareholders will be contacted directly by mail when the prospectus has been issued to allow them to take advantage of the priority entitlement to the shares issued under the IPO prospectus. Evaluation of the EM and IP data indicates presence of conductors coincident with radiometric highs and structural geological features favouring deposition of uranium mineralisation. Drilling program to test these anomalies is scheduled for April-May 2010. Field program at Batchelor continuing, drilling of uranium anomalies scheduled for April-May 2010 Review of drill logs from historical drilling at Batchelor (NT) completed. Near surface vein style uranium mineralisation present in several drill holes Uranium Australia expecting to seek admission to ASX in January 2010 Discussions with overseas potential cornerstone investors continuing Uranium Australia discovers new uranium mineralisation in the NT Uranium Australia in discussions with potential cornerstone investors ASX ListingUranium Australia is expecting to issue a prospectus and seek admission to ASX in February 2010 with the listing on ASX expected the same month (subject to market conditions). Until our Company is admitted to ASX it will continue to explore and develop its uranium assets as an unlisted public company. If you would like to register to receive the IPO Prospectus when it is available please send your details to: prospectus@uraniumaustralia.com.au INFORMATION LINKSURANIUM SHARES INDEX (AUSTRALIA) NUCLEAR REACTOR POWER GENERATING CAPACITY CLEAN NUCLEAR POWER
A nuclear power station requires 33.7 tones of enriched uranium p.a. for every 1,000 MWe of power generating capacity. Compare this with a requirement of about 6 million tones p.a. of coal to fuel the same sized coal burning plant which will be emitting 8.2 million tones p.a. of carbon dioxide. The world's current standing nuclear power generation capacity saves over 2.6 billion tones p.a. of carbon dioxide emission. Uranium Australia is ideally positioned to take advantage of the opportunities offered by the increased demand for clean power and its only dependable source - uranium.
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