Converting Australia’s past exploration challenges into immediate opportunities.
Vision of making discoveries of fresh and large competitive resources.
Focus on the covered extensions of selected pedigree belts
Seeking to make breakthroughs by the application of expertise and drive to step change ideas and exploration techniques on where and how to explore.
Southern Uranium Limited is an ASX-listed, resources company focused on copper gold and uranium exploration within its Australian tenements. The Company is directed by an experienced management team with a proven track record of ore discovery and project development.
Australian minerals exploration is not mature as generally claimed but is the realm of the technologically smart and swift to realise the ongoing discovery potential. Southern Uranium is seizing the opportunity to apply new ideas and tactics to explore the thinly covered extensions to pedigree belts. Established resources and recent discoveries in our selected belts demonstrate the potential for more discoveries. The current focus is exploration for iron oxide copper gold uranium (“IOCGU” or Olympic Dam style) deposits in the southern Gawler Craton of South Australia; unconformity style uranium deposits in the Northern Territory and volcanic hosted uranium deposits in north Queensland.
Southern Uranium is intent on discovering and developing quality resources that can be competitively brought into production.
The opportunity to provide metal resources to meet the projected increase in global demand is firing Southern Uranium’s exploration and acquisition strategy. The company is particularly mindful of the potential demand for uranium as more countries move to nuclear power for a secure and clean source of electricity.
Southern Uranium at a glance
Since listing on the ASX in 2007, Southern Uranium has built a small but experienced exploration team and a portfolio of highly prospective exploration projects throughout Australia. During 2008 and 2009, aerial and ground surveys defined and evaluated targets, enabling the prioritisation of projects.
Three key projects, East Eyre Peninsula, Calvert Hills and Pandanus West were selected for drilling in the 2010 financial year with added benefit of an operating environment offering improved drill availability and cheaper costs. Another key project was added in June 2009 with the grant of the highly prospective Ridgeback tenement with potential for more Hillside style discoveries on northern Yorke Peninsula. Yorke Peninsula is one of Australia’s newest exploration destinations and Ridgeback is currently our highest priority project.
SUMMARY OF KEY PROJECTS
Ridgeback, northern Yorke Peninsula, South Australia
The Ridgeback tenement is an overlooked part of the highly mineralised Yorke Peninsula that warrants immediate exploration work. It covers the interpreted northern extensions of the regional structure that hosts the new Hillside discovery by another company to the south. High priority magnetic targets are already identified under modest cover and scant data indicates the potential for gravity targets as well. Southern Uranium is gearing up for a airborne magnetic survey and ground gravity survey to detail the targets with the aim of starting drill testing early in 2010.
East Eyre Peninsula, South Australia
East Eyre Peninsula is a readily accessible part of the Gawler Craton but still a geological frontier. Thin cover has hindered past explorers but the region has emerging potential for multi-metal uranium deposits that formed in the same geological event as Olympic Dam.
Southern Uranium is applying a step change approach of modern soil geochemistry integrated with geophysics. The latter has been used to thoroughly revise the geological framework for the region, enabling better prediction of mineral positions. Shallow drill targets are being defined from the large proprietary geochemical dataset. Initial 2008 drilling of two targets confirmed the tactical approach with 10 large and coherent targets selected for detailed soil sampling thus far. Over 8,000m of aircore drilling are planned in 2009/2010.
Calvert Hills, Northern Territory
The project area is situated over the regional covered extensions to the Westmoreland uranium field. Our new magnetic/radiometric and airborne electromagnetic surveys mapped the prospective elements of the Westmoreland geology beneath the cover. Unconformity style uranium targets were selected from the new data for percussion and diamond drill testing under collaborative government funding. The drilling was recently completed with the extensions of the prospective geology confirmed and follow up exploration being planned.
Pandanus West, north Queensland
The tenements cover volcanic geology that is prospective for Ben Lomond style deposits. Exploration prior to the early 1980’s discovered uranium with a reported best intersection of 10m @ 0.5% U3O8. Mapping for undrilled extensions has been completed with percussion drilling planned for later in calendar 2009. | |
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| | Portfolio - Well-positioned exploration projects in world-class ore provinces of Australia.
Targets - Advanced drill targets developed with state-of-the-art concepts and technologies.
Strength - Cash resources of A$2.96 million (as at 31 December 2010) to advance its expanding exploration opportunities. Supportive cornerstone investors and shareholders.
Expertise – An experienced and committed exploration team with deep knowledge of Iron Oxide, Copper, Gold and Uranium (IOCGU) and related deposits. | |
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Southern Uranium on ASX  | |
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Feature Project :
Ridgeback copper gold uranium targets, northern Yorke Peninsula, South Australia
- On the northern extensions of the Pine Point Fault Zone that hosts the recent Hillside discovery.
- Large magnetic targets with potential for Hillside-style deposits.
- Also potential for gravity targeting of alternative Mt Isa copper or iron oxide copper gold uranium (“IOCGU”) styles.
- Past drilling shows 200m – 450m of cover and positive signs of mineralisation in adjacent rocks.
- Preparing for airborne magnetic and gravity surveying over a large target area.
- Aiming to drill magnetic and likely gravity targets early in 2010. | |
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