ASX ANNOUNCEMENT - InfoMine
ASX ANNOUNCEMENT - InfoMine
ASX ANNOUNCEMENT - InfoMine
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9 th March 2010 <strong>ASX</strong> Code: UTO<br />
<strong>ASX</strong> <strong>ANNOUNCEMENT</strong><br />
Drilling to Commence on<br />
U3O8’s Clever Mary Project<br />
U3O8 Limited ("U3O8") is pleased to announce that it will commence drilling on<br />
the Company’s 100% owned Clever Mary project on or about the 17 th March 2010.<br />
The Clever Mary project is located about 300 km east of Carnarvon in Western<br />
Australia (Figure 1).<br />
In total, 12 drill holes have been planned for an advance of approximately 1400 metres<br />
of reverse circulation drilling. This drilling programme is partly funded by one of the<br />
two Western Australian Government drilling grants received by the Company.<br />
Figure1: U3O8 Limited Project Location Map
2<br />
The Clever Mary project area lies in the Lower Proterozoic Gascoyne Province of Western<br />
Australia and hosts the intersection of two major shear zones, the Minga and Chalba Shear<br />
Zones. U3O8 is targeting both uranium and base metals at coincident radiometric and<br />
electromagnetic anomalies identified by airborne surveys undertaken by the Company. The<br />
acquisition of airborne electromagnetic data is important in prospecting for conductive bodies<br />
in the vicinity of radiometric anomalies, a typical setting of unconformity-related uranium<br />
mineralisation.<br />
Of particular interest is the presence of a continuous graphitic shale and metachert which<br />
wraps around the syncline at Clever Mary and which is intermittently exposed over a 15km<br />
strike length and marked by gossans such as the Chance and Discovery gossans identified<br />
by previous explorers, and known to contain grades of up to 7m @ 1.06% combined Pb/Zn<br />
within graphitic clays.<br />
Only one historic hole has intersected the unconformity on the project and confirmed the<br />
presence of significant amounts of graphite within close proximity to the metamorphic<br />
basement (Morissey Metamorphics and associated pegmatites and granites, showing strong<br />
regional uranium anomalism).<br />
Historical uranium exploration in the area by Agip Nucleare and Urangesellschaft was limited<br />
to testing surficial occurrences and primary mineralisation within exposed basement. This<br />
led to the discovery of grades up to 0.17% U 3 O 8 in drilling immediately to the north of Clever<br />
Mary.<br />
The Company expects the drilling to be completed by the end of March. Results will be<br />
released as soon as available.<br />
Further information relating to the Company and its various exploration projects can be<br />
found on the Company’s website at: www.u3o8.com.au.<br />
Stephen Mann 9th March 2010<br />
Managing Director<br />
Perth, WA<br />
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves<br />
is based on information compiled by S Mann, who is a Member of the Australasian Institute of Mining<br />
and Metallurgy. S Mann has sufficient experience which is relevant to the style of mineralisation and<br />
type of deposit under consideration and to the activity which he is undertaking to qualify as a<br />
Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of<br />
Exploration Results, Mineral Resources and Ore Reserves'. S Mann consents to the inclusion in the<br />
report of the matters based on his information in the form and context in which it appears.<br />
U3O8 Limited<br />
Level 3, 33 Ord Street, West Perth WA 6005<br />
Telephone: (08) 9481 2243 Facsimile: (08) 9321 0070 Email: info@u3o8.com.au