Yilgarn Avon JV - Quairading (U), Mukinbudin (U), Kellerberrin (U)

Mindax (Mindax Energy Pty Ltd) along with Quasar Resources as the Yilgarn Avon Joint Venture is successfully searching for roll front uranium in palaeochannels of South-Western WA.

Scout drilling is ongoing with 11,000 m underway currently along the Yilgarn palaechannel, within the Mukinbudin Project area 200 km north-east of Perth.  During December 2009 until January 2010 economic grades of roll front sedimentary uranium mineralisation were found rendering the area an emerging uranium province.

The critical intercepts in the Jindarra area are:

YAA0184 37-38m 1m @ 1690ppm U
(equivalent to 0.20% U₃O₈)

YAA0188 38-41m 3m @ 1243ppm U
(equivalent to 0.15% U₃O₈)

The intercepts occur on parallel, adjacent traverses separated by 2000 m.

The significance of these reconnaissance exploration results can be seen by reference to the uranium developments underway elsewhere in WA where resource grades range from 300 to 1500 ppm U.

These intercepts compare very favourably in terms of both grade and thickness to existing economic mineralisation and further vindicate the search for uranium in these palaeochannels.

They clearly identify the area as a new uranium province in WA and have implications for the future development of the region.

The YAJV control 2640 square km of tenements in the area which include 275 km or 75% of the prospective channel.

Key:    Calcrete hosted      Roll front related      Vein type unconformity related
Source: DMP Minerals Database (MINEDEX), extracted 12 June 2009

Table 1:  Significant WA Uranium Resources (after Dr FI Roberts, GSWA, 2009)

Table 2: Significant Exploration Drilling Results

Figure 1: Upper Channels with drill intercepts

Figure 2: Mukinbudin Drill Section