Re: UXA - Uranium Exploration Australia
From
www.minebox.com
Commenting on this exciting development, Executive Chairman Mr Neill Arthur said, “This silver discovery begins to realise the intrinsic value of UXA’s exploration and investment within the highly prospective Gawler Craton region in South Australia”.
“Given our drill programme is yet to fully drill test existing uranium and other anomalies at Sloanes Hill and on UXA’s other ELs, the potential to unlock a major, world class deposit remains as strong as ever.”
Located 30 kilometres south of the Prominent Hill copper - gold proposed development by Oxiana along a parallel east – west structure, the silver mineralisation discovered by UXA is contained in near surface horizontal dolomitic silts, pebbly sands and carbonaceous shales of Lower Cretaceous Age.
Preliminary drill core inspections indicate the silver mineralisation is readily mineable.
The company will commence a resource estimate with the completion of drilling of two more holes, which are planned 3 kilometres and 6 kilometres west of the original discovery hole DDH SH – 1 where geology outcrop and hydrothermal alteration share similar geological settings to the high grade silver result at between 29 and 44 metres depth.
It sounds there COULD be uranium among these drillings and they are doing more drilling around the area, they have not test for it yet.. (Strange i thought these mop are set out to dill for uranium and yet they announce the silver they find first)
with the market reaction i am looking closely and buying in again today i think
Hpynotic