Uranium Australia Ltd (UAU) was founded in 2007 as a uranium exploration and development company with world class uranium projects in the NORTHERN TERRITORY and polymetallic projects in WESTERN AUSTRALIA. The company has commenced exploration for other commodities, primarily rare earths, nickel, copper and other base metals) in 2009. Our projects are at various stages of exploration and development ranging from late stage (JORC Code compliant resource and pre-JORC resource estimates) through mid stage ( mineralised drill intercepts) to early stage (geochemical soil and rock chip anomalies).
In the NORTHERN TERRITORY, Uranium Australia explores two projects - Batchelor and Green Alligator which are located within the Pine Creek Orogen's Rum Jungle Mineral Field. Pine Creek Orogen is a main uranium producing area in Australia. Deposit grades here are in the range 0.185–2.0% U3O8. Ore tonnages range up to 31 million tonnes (Jabiluka2). The best known historical and currently operating uranium mines in the area include Rum Jungle Creek South, Ranger and Jabiluka. At Batchelor/Green Alligator UAU is focusing on the low-cost, high-value unconformity related uranium mineralisation which occurs on the carbon-rich interface between the Coomalie Dolostone and the Whites Formation. Unconformity-type uranium deposits contribute about 20% of Australia’s total uranium resources inventory, and altogether, represent about 30% of the world’s low-cost category resources. Last year, Pine Creek Orogen has produced about 10% of global uranium supply. Deposits in Rum Jungle tend to occur at shallow depths and historically had grades of between 0.2% and 0.6% of uranium.
The largest of the uranium deposits, RUM JUNGLE CREEK SOUTH which is located on the boundary of Uranium Australia’s exploration leases occurred at a very shallow depth and was mined at a grade of 0.48% uranium for approximately 9 million pounds of uranium oxide. Uranium Australia’s Northern Territory projects extends for 20 km from the pit wall of RUM JUNGLE CREEK SOUTH which was the largest uranium mine within Rum Jungle Mineral Field (RJMF) along the uranium bearing carbon-rich interface which hosts all major uranium mineralisation within the RJMF. RJMF is the location of several high grade uranium deposits and mines and is the oldest uranium producing region in Australia. It is considered by experts to be the most promising area for the discovery of near-surface high-grade unconformity-style uranium deposits. In Western Australia, Uranium Australia is exploring several projects located in the Ashburton/Gascoyne province and in the Yilgarn craton. Prior to the introduction of uranium ban in Western Australia by the state government these projects were being explored by international uranium giants Comeco, Areva, Uranerz and the Japanese government uranium exploration arm, PNC Exploration Australia. Their work has lead to the definition of several areas containing uranium mineralisation. These uranium prospects include unconformity related, vein hosted, sandstone hosted and calcretic deposits. Following the lifting of the uranium ban in Western Australia in 2008, Uranium Australia is ideally placed to reap the benefits of their exploration success. ANNUAL REPORTS
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ASX ListingOn 29 August 2011 shareholders have resolved to change the name of the company from Uranium Australia Ltd to Polymetallica Minerals Ltd. The company completed first stage of field exploration programs for iron ore and nickel at its Wonganoo project and for rare earths, uranium, thorium and base metals at its Gascoyne project (see announcement below). Preliminary results from these programs indicate potential for significant rare earths and copper discoveries at Gascoyne projects and for nickel and iron ore at Wonganoo. Consequently, the name Polymetallica Minerals better reflects the multi commodity exploration potential of company’s assets. The name of Uranium Australia and associated trademarks have been transferred to our wholly owned subsidiary which will continue to explore for uranium within company’s projects. If you would like to register to receive the IPO Prospectus when it is available please send your details to: prospectus@polymetallica.com.au announcements & NoticesAt the General Meeting held in Perth on 29 August 2011 shareholders resolved to adopt new name POLYMETALLICA MINERALS LIMITED ("Polymetallica"). Polymetallica has established a wholly owned subsidiary Uranium Australia Pty Ltd to hold all Uranium Australia trademarks and to manage exploration for uranium within Polymetallica's properties. 31 August 2011 NOTICE OF GENERAL MEETING TO BE HELD ON 29 AUGUST 2011 - PDF Following successful completion of field programs at Wonganoo project (located near Leinster in the Eastern Goldfields of WA) and at Carlo Creek, Nine Mile Creek and Dairy Creek projects (located near Gascoyne Junction in Gascoyne Region of WA) results of which are currently being evaluated, the company is considering changing its name to Polymetallica Minerals Ltd. The field program at Wonganoo project was targeting iron ore within banded iron formations and nickel within meta-komatiites and ultramafics. The field program at Carlo Creek, Nine Mile Creek and Dairy Creek projects was targeting copper, rare earths, zircon, nickel, zinc, lead and uranium. Uranium Australia’s Gascoyne projects adjoin the Aurora Minerals (ARM) Glenburgh project. ARM has had recent success discovering new copper mineralisation at Glenburgh. Preliminary results from both programs are very positive and suggest a strong potential for discovery of commercially viable mineralisation. Detailed results will be provided once the evaluation of assays and geospatial analysis of results have been completed. Uranium Australia will be mailing to all shareholders a notice of EGM to approve the change of name from Uranium Australia Ltd to Polymetallica Minerals Ltd. The name of Uranium Australia and associated trademarks will be transferred to our wholly owned subsidiary which will continue to explore for uranium within Company’s projects. Field crews have completed sampling and evaluation program at the Wonganoo project which targeted banded iron formations extending for approximately 20 km. Samples have been sent for assays and UAU is awaiting the results which will be reported when available. In parallel with the sampling program at Wonganoo, UAU has undertaken field program at the Gascoyne projects (Carlo Creek, Nine Mile Creek and Dairy Creek) to test several geochemical anomalies which have shown elevated levels of copper, cobalt and titanium and a number of radiometric-geochemical anomalies which have shown elevated rare earths, uranium, thorium and lead. Samples from one of these anomalies have tested up to 25% uranium, 31% thorium, 5% lead and 210ppm molybdenum. Mineralization occurs in thorianite crystals. At another location samples have shown elevated rare earths and thorium values. Petrographic analysis of these samples shows that rare earths/thorium anomalism is associated with monazite which is common source of rare earths. Results of the program will be reported when available. In addition to the work referred to above, UAU has been reviewing historical drill data from the Wonganoo project to evaluate nickel potential of this project. Several drill intercepts grading up to 3% nickel occurring within meta-komatiites and ultramafic rocks extending for approximately 6 km in the southern and central parts of the Wonganoo project are of primary interest. UAU will report the result of this evaluation when available.
Uranium Australia has commenced exploration for iron ore at its Wonganoo project located in Western Australia. Evaluation of the available data confirms that Wonganoo project contains a significant banded iron formation (BIF) extending over at least 25 km length (click on the link above this announcement to download the diagram showing the location and extent of mineralisation). This BIF unit outcrops in several areas of the project over a distance of 20 km length with the width of the outcrop ranging between 50m and 300m. Initial aim of our exploration program is to define the tonnage of the exploration target and potential grade of the mineralisation. The company is in position of historical drill, aero-magnetic and electro-magnetic data which will be interpreted in conjunction with results of the current program. CLEAN NUCLEAR POWER
A nuclear power station requires 33.7 tones of enriched uranium p.a. for every 1,000 MWe of power generating capacity. Compare this with a requirement of about 6 million tones p.a. of coal to fuel the same sized coal burning plant which will be emitting 8.2 million tones p.a. of carbon dioxide. The world's current standing nuclear power generation capacity saves over 2.6 billion tones p.a. of carbon dioxide emission. Uranium Australia is ideally positioned to take advantage of the opportunities offered by the increased demand for clean power and its only dependable source - uranium. INFORMATION LINKSURANIUM SHARES INDEX (AUSTRALIA) NUCLEAR REACTOR POWER GENERATING CAPACITY
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