Uranium Exploration Australia (UXA)

Shares / Stock Code

UXA

Stock Exchange / Sharemarket

Australian Securities Exchange

Uranium Exploration Australia (UXA) is an exploration company primarily searching for uranium. Its exploration activities are spread around Australia, with projects in South Australia, the Northern Territory, New South Wales and Western Australia. Uranium Exploration Australia Limited was formed in January 2005 and listed on the Australian stock market (ASX) on 22 November 2005.

Uranium Exploration Australia has seven exploration licence areas under application (ELAs) proximate to the Olympic Damn, the world's largest known uranium deposit. The geographical spread of UXA's exploration projects provides a degree of diversification that is necessary in managing the risk involved in uranium exploration. On October 1, 2009, UXA completed the acquisition of Geoscience Associates (Australia) Pty Ltd (GAA).

Competing with UXA for uranium reserves include companies such as Arafura Resources NL (ARU) and Deep Yellow Limited (DYL). There is a strong global market for uranium, as it is an increasingly popular energy source. However, as an explorer, UXA currently has no existing customers.

Uranium Exploration Australia - Western Australia Project

In Western Australia the Company has an agreement with Rey Resources Ltd. concerning the uranium rights on two granted exploration licences covering part of the Myroodah uranium project in the Canning Basin, 120km South East of Derby and only 40km from a sealed highway.

In Western Australia the Company has signed a farm-in and joint venture agreement with Rey Resources Ltd. covering the uranium rights on two granted exploration licences covering part of the Myroodah uranium project in the Canning Basin WA, 120km South East of Derby and only 40km from a sealed highway. Uranium was first discovered at Myroodah by CRAE (Ashton Joint Venture) in 1978, who drilled 17 holes totalling 1565.5m to test the radiometric anomalies.

The mineralisation appears to be of roll-front-sandstone hosted style with grades calculated from down hole gamma logging (using appropriate calibration) of 0.1 kg/t to 0.48 kg/t (480ppm) U3O8 over widths of 1.0m to 3.0m. No exploration for uranium has been conducted since 1981.

The uranium mineralisation occurs in a synclinal outlier of the oxidised Triassic Erskine Sandstone and underlying reduced Blina Shale which, at this location, is projected to lie about 500m above the Permian coal horizons of the Canning Basin.The Erskine Sandstone is an aquifer, hence there may be potential for an In Situ Leach operation or for near surface uranium.

Government airborne radiometric data shows a widespread anomaly associated with the shallowly dipping Erskine Sandstone and underlying Blina Shale which opens up the possibility of discovering broad zones of near surface mineralisation. Previous drilling by CRAE did not test for near surface mineralisation.

Yambla/Harts Range Project

UXA has signed an exploration agreement with Cullen Resources Ltd covering the Yambla Project, a granted exploration licence EL26142. Uranium was discovered at Yambla by PNC Exploration in 1992, which drilled a number of holes to test radiometric anomalies and outcropping uraninite-rich veins within the amphibolite rock.

A number of other styles of uranium mineralisation occur in the area and may constitute potential for an "unconformity" type deposit. UXA has applied for three exploration licences spanning a 110km2 area immediately surrounding the Yambla project ("Harts Range"), covering areas of similar geology and uranium prospectivity.

Uranium Exploration Australia (UXA) Products and Services

  • Exploration company primarily searching for uranium.

Uranium Exploration Australia (UXA) Locations and Subsidiaries

Uranium Exploration Australia Head Office
43a Fullarton Road, KENT TOWN,
SA, AUSTRALIA, 5067
Phone: 08 8363 7970
Fax: 08 8363 7963

Uranium Exploration Australia (UXA) Share Price

Submitted by ASX Listed Company on 7 June, 2010 - 21:43

Download our FREE App


Signup for Free
Don't miss out on your free share trading articles.


Free Risk Money Management Calculator for those who sign up!