ASX ANNOUNCEMENT
22 April 2015 ASX Code: AGS
FOUR MILE PROJECT DRILLING UPDATE
Alliance Resources Ltd (Alliance) is pleased to announce further uranium intercepts from drilling at the Four
Mile Project during December 2014 to February 2015.
Quasar Resources Pty Ltd (Quasar) reports no exploration activities were undertaken during the above period.
A total of fifty four (54) delineation1 holes (FED0296 to FED0350) were completed at Four Mile East, to the north of the First Stage Mining Area, during the period. Drill hole FED0299 was abandoned due to breakage of drilling equipment which could not be retrieved from the drill hole. A single core hole (FMC002) of 195m was also completed within the area. The locations of drill holes are shown in Figures 1 and 2.
Twenty two (22) holes returned significant uranium intersections with grade-thickness (GT-PFN) values greater than 0.5m%, including 15 holes that returned GT-PFN values greater than 1.0m%.
Significant uranium intersections >1.0m% (GT-PFN) include:
|
Hole ID
FED0296
|
m @ % pU3O8
3.2m @ 1.40%
|
GT (m%pU3O8)
4.48
|
|
FED0306
|
2.4m @ 0.58%
|
1.39
|
|
FED0307
|
4.0m @ 0.39%
|
1.56
|
|
FED0308
|
4.3m @ 0.26%
|
1.12
|
|
FED0309
|
1.9m @ 0.69%
|
1.31
|
|
FED0312
|
1.4m @ 0.96%
|
1.34
|
|
FED0314
|
5.3m @ 0.24%
|
1.27
|
|
FED0316
|
3.6m @ 0.36%
|
1.30
|
|
FED0319
|
2.2m @ 1.36%
|
2.99
|
|
FED0320
|
3.3m @ 1.10%
|
3.63
|
|
FED0324
|
1.6m @ 0.71%
|
1.14
|
|
FED0325
|
1.0m @ 1.14%
|
1.14
|
|
FED0335
|
3.4m @ 0.44%
|
1.50
|
|
FED0347
|
0.9m @ 1.50%
|
1.35
|
|
FMC002
|
2.7m @ 0.55%
|
1.48
|
pU3O8 is the equivalent grade as estimated from Prompt Fission Neutron (PFN) logging. GT = grade (%pU3O8) x thickness (m).
Details of the latest drilling are listed in Table A, Figures 1 to 2 and the JORC Code, 2012 Edition - Table 1 report.
1 ACE and Quasar disagree about the nature of the regional delineation drilling. Quasar asserts it is a mining development cost for which ACE must pay its share. ACE asserts it is an exploration cost for which Quasar must pay in full.
Suite 3, 51-55 City Road
Southbank, VIC, 3006
P +61 3 9697 9090 F +61 3 9697 9091 [email protected] www.allianceresources.com.au ABN 38 063 293 336
ASX ANNOUNCEMENT
The results continue to support the Four Mile region as one of Australia's great uranium provinces.
It is emphasised that results may be subject to revision once the geophysical logs are reviewed by Alliance.
Steve Johnston
Managing Director
The Four Mile Uranium Project area is located 550 kilometres north of Adelaide in South Australia. Alliance's
100% owned subsidiary, Alliance Craton Explorer Pty Ltd (ACE) is the registered holder of 25%2 of ML6402 and
EL5017 (Project).
2 Reducing to approximately 15% by 31 December 2015 in respect of the Four Mile Mine Development Area as a result of Alliance
Craton Explorer Pty Ltd electing not to contribute to the Four Mile 2015 Program and Budget. Refer ASX announcement dated 20
November 2014.
Suite 3, 51-55 City Road
Southbank, VIC, 3006
P +61 3 9697 9090 F +61 3 9697 9091 [email protected] www.allianceresources.com.au ABN 38 063 293 336
Figure 1: Four Mile Project drill hole locations (since November 2013)
- • - - • J - - - - - • - - - - - • -
d
---------------------------------------------------------- nm 16 info@allianceresources.com.au www.allianceresources.com.au
ABN 38 063 29 3 336
ASX ANNOUNCEMENT
Table A: Latest drillhole results (Intercepts >0.5m% (GT-PFN) highlighted). Drill hole collar locations based on handheld GPS coordinates. Dip is -90 degrees and azimuth 0 (i.e. all holes are drilled vertically).
|
ID
|
GDA94_E
|
GDA94_N
|
RL (m)
|
TD (m)
|
Gamma
|
PFN
|
|
From (m)
|
To (m)
|
Interval
(m)
|
eU3O8(%)
|
GT-Gam
|
From (m)
|
To (m)
|
Interval
(m)
|
pU3O8 (%)
|
GT-PFN
|
|
FED0296
|
358143
|
6665772
|
149
|
210
|
180.8
|
184
|
3.20
|
1.74
|
5.57
|
180.8
|
184
|
3.20
|
1.40
|
4.48
|
|
FED0297
|
358025
|
6665859
|
148
|
192
|
No significant grade
|
|
FED0298
|
358121
|
6665821
|
150
|
202
|
No significant grade
|
|
FED0299
|
358073
|
6665656
|
144
|
144
|
Hole abandoned - drill bit lost down hole
|
|
FED0300
|
358327
|
6665688
|
150
|
216
|
No significant grade
|
|
FED0301
|
358038
|
6665621
|
144
|
210
|
185.5
|
186.2
|
0.70
|
0.09
|
0.06
|
185.5
|
186.2
|
0.70
|
0.13
|
0.09
|
|
FED0302
|
358377
|
6665695
|
150
|
218
|
185.5
|
186.5
|
1.00
|
0.21
|
0.21
|
185.5
|
186.5
|
1.00
|
0.21
|
0.21
|
|
FED0303
|
358234
|
6665464
|
141
|
216
|
147.6
|
149.5
|
1.90
|
0.07
|
0.13
|
147.6
|
149.5
|
1.90
|
0.10
|
0.19
|
|
FED0303
|
190.3
|
191.2
|
0.90
|
0.34
|
0.31
|
190.3
|
191.2
|
0.90
|
0.38
|
0.34
|
|
FED0303
|
192.3
|
192.8
|
0.50
|
0.23
|
0.12
|
192.3
|
192.8
|
0.50
|
0.14
|
0.07
|
|
FED0303
|
193.9
|
194.6
|
0.70
|
0.15
|
0.1
|
193.9
|
194.6
|
0.70
|
0.18
|
0.13
|
|
FED0304
|
358163
|
6665633
|
143
|
218
|
179.6
|
180.9
|
1.30
|
0.33
|
0.43
|
179.6
|
180.9
|
1.30
|
0.20
|
0.26
|
|
FED0305
|
358169
|
6665606
|
142
|
210
|
182.2
|
184.1
|
1.90
|
0.15
|
0.29
|
182.2
|
184.1
|
1.90
|
0.16
|
0.30
|
|
FED0305
|
185.8
|
186.5
|
0.70
|
0.14
|
0.1
|
185.8
|
186.5
|
0.70
|
0.08
|
0.06
|
|
FED0306
|
358103
|
6665618
|
143
|
216
|
180.8
|
183.2
|
2.40
|
0.84
|
2.02
|
180.8
|
183.2
|
2.40
|
0.58
|
1.39
|
|
FED0307
|
358136
|
6665617
|
142
|
206
|
181.1
|
185.1
|
4.00
|
0.35
|
1.4
|
181.1
|
185.1
|
4.00
|
0.39
|
1.56
|
|
FED0308
|
358186
|
6665770
|
151
|
210
|
182.8
|
187.1
|
4.30
|
0.18
|
0.77
|
182.8
|
187.1
|
4.30
|
0.26
|
1.12
|
|
FED0309
|
357975
|
6665565
|
145
|
214
|
187.5
|
189.4
|
1.90
|
0.45
|
0.86
|
187.5
|
189.4
|
1.90
|
0.69
|
1.31
|
|
FED0310
|
358263
|
6665575
|
144
|
210
|
188.1
|
188.7
|
0.60
|
0.66
|
0.4
|
188.1
|
188.7
|
0.60
|
0.58
|
0.35
|
|
FED0310
|
191.8
|
193.1
|
1.30
|
0.11
|
0.14
|
191.8
|
193.1
|
1.30
|
0.07
|
0.09
|
|
FED0311
|
358124
|
6665707
|
145
|
204
|
No significant grade
|
|
FED0312
|
357848
|
6665674
|
145
|
210
|
177.7
|
179.1
|
1.40
|
0.63
|
0.88
|
177.7
|
179.1
|
1.40
|
0.96
|
1.34
|
|
FED0313
|
358114
|
6665644
|
142
|
228
|
179.3
|
179.9
|
0.60
|
0.15
|
0.09
|
179.3
|
179.9
|
0.60
|
0.20
|
0.12
|
|
FED0313
|
180.9
|
182
|
1.10
|
0.42
|
0.46
|
180.9
|
182
|
1.10
|
0.30
|
0.33
|
|
FED0314
|
358291
|
6665554
|
145
|
216
|
150.3
|
151.3
|
1.00
|
0.05
|
0.05
|
150.3
|
151.3
|
1.00
|
0.11
|
0.11
|
|
FED0314
|
193.5
|
198.8
|
5.30
|
0.30
|
1.59
|
193.5
|
198.8
|
5.30
|
0.24
|
1.27
|
|
FED0315
|
358179
|
6665799
|
153
|
206
|
182.6
|
184.3
|
1.70
|
0.14
|
0.24
|
182.6
|
184.3
|
1.70
|
0.17
|
0.29
|
|
FED0316
|
358013
|
6665521
|
144
|
216
|
187.4
|
191
|
3.60
|
0.54
|
1.94
|
187.4
|
191
|
3.60
|
0.36
|
1.30
|
|
FED0317
|
357971
|
6665541
|
144
|
212
|
No significant grade
|
|
FED0317
|
No significant grade
|
|
FED0318
|
358200
|
6665541
|
141
|
216
|
187.9
|
188.4
|
0.50
|
0.37
|
0.19
|
187.9
|
188.4
|
0.50
|
0.14
|
0.07
|
|
FED0318
|
191.3
|
192
|
0.70
|
0.22
|
0.15
|
191.3
|
192
|
0.70
|
0.13
|
0.09
|
|
FED0319
|
358182
|
6665522
|
141
|
220
|
190.7
|
192.9
|
2.20
|
1.03
|
2.27
|
190.7
|
192.9
|
2.20
|
1.36
|
2.99
|
|
FED0320
|
358242
|
6665524
|
142
|
234
|
189.9
|
190.8
|
0.90
|
0.51
|
0.46
|
189.9
|
190.8
|
0.90
|
0.46
|
0.41
|
|
FED0320
|
192
|
195.3
|
3.30
|
1.83
|
6.04
|
192
|
195.3
|
3.30
|
1.10
|
3.63
|
|
FED0321
|
358515
|
6665742
|
151
|
246
|
190.3
|
191.5
|
1.20
|
0.49
|
0.59
|
190.3
|
191.5
|
1.20
|
0.38
|
0.46
|
|
FED0322
|
358474
|
6665718
|
150
|
238
|
191
|
195.1
|
4.10
|
0.25
|
1.03
|
191
|
195.1
|
4.10
|
0.22
|
0.90
|
|
FED0323
|
358438
|
6665679
|
149
|
252
|
191.2
|
195.5
|
4.30
|
0.15
|
0.65
|
191.2
|
195.5
|
4.30
|
0.13
|
0.56
|
|
FED0324
|
358430
|
6665648
|
148
|
234
|
193.8
|
195.4
|
1.60
|
0.52
|
0.83
|
193.8
|
195.4
|
1.60
|
0.71
|
1.14
|
|
FED0325
|
358436
|
6665629
|
147
|
238
|
194.8
|
195.8
|
1.00
|
0.84
|
0.84
|
194.8
|
195.8
|
1.00
|
1.14
|
1.14
|
|
FED0325
|
196.8
|
199.2
|
2.40
|
0.13
|
0.31
|
196.8
|
199.2
|
2.40
|
0.08
|
0.19
|
|
FED0326
|
358423
|
6665603
|
147
|
231
|
154
|
154.9
|
0.90
|
0.06
|
0.05
|
154
|
154.9
|
0.90
|
0.13
|
0.12
|
|
FED0327
|
358448
|
6665555
|
146
|
240
|
161.9
|
162.5
|
0.60
|
0.07
|
0.04
|
161.9
|
162.5
|
0.60
|
0.11
|
0.07
|
|
FED0327
|
195.1
|
196
|
0.90
|
0.19
|
0.17
|
195.1
|
196
|
0.90
|
0.19
|
0.17
|
|
FED0327
|
197.3
|
198.5
|
1.20
|
0.23
|
0.28
|
197.3
|
198.5
|
1.20
|
0.23
|
0.28
|
|
FED0328
|
358473
|
6665556
|
146
|
240
|
195.4
|
195.9
|
0.50
|
0.33
|
0.17
|
195.4
|
195.9
|
0.50
|
0.30
|
0.15
|
|
FED0329
|
358470
|
6665604
|
147
|
240
|
No significant grade
|
|
FED0330
|
358499
|
6665631
|
147
|
240
|
160.2
|
161.3
|
1.10
|
0.08
|
0.09
|
160.2
|
161.3
|
1.10
|
0.08
|
0.09
|
|
FED0330
|
197.9
|
198.6
|
0.70
|
0.19
|
0.13
|
197.9
|
198.6
|
0.70
|
0.30
|
0.21
|
|
FED0331
|
358526
|
6665650
|
148
|
238
|
201.7
|
202.5
|
0.80
|
0.17
|
0.14
|
201.7
|
202.5
|
0.80
|
0.36
|
0.29
|
|
FED0332
|
358523
|
6665630
|
147
|
237
|
No significant grade
|
|
FED0333
|
358571
|
6665677
|
148
|
238
|
No significant grade
|
|
FED0334
|
358673
|
6665730
|
147
|
240
|
190.3
|
190.8
|
0.50
|
0.13
|
0.07
|
190.3
|
190.8
|
0.50
|
0.28
|
0.14
|
|
FED0334
|
197.9
|
198.6
|
0.70
|
0.25
|
0.17
|
197.9
|
198.6
|
0.70
|
0.56
|
0.39
|
|
FED0335
|
358551
|
6665677
|
148
|
236
|
162.4
|
163.4
|
1.00
|
0.06
|
0.06
|
162.4
|
163.4
|
1.00
|
0.10
|
0.10
|
|
FED0335
|
201.1
|
204.5
|
3.40
|
0.25
|
0.85
|
201.1
|
204.5
|
3.40
|
0.44
|
1.50
|
Suite 3, 51-55 City Road
Southbank, VIC, 3006
P +61 3 9697 9090 F +61 3 9697 9091 [email protected] www.allianceresources.com.au ABN 38 063 293 336
ASX ANNOUNCEMENT
Table A (continued): Latest drillhole results (Intercepts >0.5m% (GT-PFN) highlighted). Drill hole collar locations based on handheld GPS coordinates. Dip is -90 degrees and azimuth 0 (i.e. all holes are drilled vertically).
|
ID
|
GDA94_E
|
GDA94_N
|
RL (m)
|
TD (m)
|
Gamma
|
PFN
|
|
From (m)
|
To (m)
|
Interval
(m)
|
eU3O8(%)
|
GT-Gam
|
From (m)
|
To (m)
|
Interval
(m)
|
pU3O8 (%)
|
GT-PFN
|
|
FED0336
|
358691
|
6665755
|
148
|
240
|
180.4
|
182.6
|
2.20
|
0.06
|
0.13
|
180.4
|
182.6
|
2.20
|
0.09
|
0.20
|
|
FED0337
|
358663
|
6665756
|
148
|
240
|
185.6
|
186.7
|
1.10
|
0.05
|
0.05
|
185.6
|
186.7
|
1.10
|
0.07
|
0.08
|
|
FED0338
|
358657
|
6665781
|
149
|
246
|
188
|
188.9
|
0.90
|
0.52
|
0.47
|
188
|
188.9
|
0.90
|
0.69
|
0.62
|
|
FED0339
|
358680
|
6665781
|
148
|
240
|
195.8
|
196.5
|
0.70
|
0.38
|
0.27
|
195.8
|
196.5
|
0.70
|
0.57
|
0.40
|
|
FED0340
|
358405
|
6665647
|
148
|
228
|
145
|
146.2
|
1.20
|
0.05
|
0.06
|
145
|
146.2
|
1.20
|
0.11
|
0.13
|
|
FED0341
|
358719
|
6665754
|
147
|
238
|
199.3
|
200.4
|
1.10
|
0.12
|
0.13
|
199.3
|
200.4
|
1.10
|
No PFN run
|
|
FED0342
|
358205
|
6665773
|
152
|
210
|
184.1
|
186.5
|
2.40
|
0.12
|
0.29
|
184.1
|
186.5
|
2.40
|
0.15
|
0.36
|
|
FED0342
|
187.7
|
188.9
|
1.20
|
0.08
|
0.1
|
187.7
|
188.9
|
1.20
|
0.08
|
0.10
|
|
FED0343
|
358410
|
6665628
|
148
|
235
|
194
|
195.2
|
1.20
|
0.26
|
0.31
|
194
|
195.2
|
1.20
|
0.27
|
0.32
|
|
FED0344
|
358444
|
6665451
|
143
|
240
|
192.5
|
193
|
0.50
|
0.09
|
0.05
|
192.5
|
193
|
0.50
|
0.13
|
0.07
|
|
FED0345
|
358232
|
6665513
|
142
|
Hole in progress
|
|
FED0346
|
358331
|
6665572
|
146
|
224
|
196.1
|
198.6
|
2.50
|
0.44
|
1.1
|
196.1
|
198.6
|
2.50
|
0.35
|
0.88
|
|
FED0347
|
358264
|
6665549
|
143
|
222
|
189.9
|
190.8
|
0.90
|
1.57
|
1.41
|
189.9
|
190.8
|
0.90
|
1.50
|
1.35
|
|
FED0347
|
192.1
|
192.6
|
0.50
|
0.34
|
0.17
|
192.1
|
192.6
|
0.50
|
0.28
|
0.14
|
|
FED0348
|
358307
|
6665568
|
146
|
222
|
196.1
|
198.2
|
2.10
|
0.36
|
0.76
|
196.1
|
198.2
|
2.10
|
0.24
|
0.50
|
|
FED0349
|
358213
|
6665581
|
143
|
209.5
|
189.4
|
191.9
|
2.50
|
0.31
|
0.78
|
189.4
|
191.9
|
2.50
|
0.27
|
0.68
|
|
FED0350
|
358194
|
6665607
|
143
|
211.5
|
185.2
|
187.7
|
2.50
|
0.53
|
1.33
|
185.2
|
187.7
|
2.50
|
0.39
|
0.98
|
|
FMC002
|
358189
|
6665690
|
147
|
195
|
180.3
|
183
|
2.70
|
0.52
|
1.4
|
180.3
|
183
|
2.70
|
0.55
|
1.48
|
Suite 3, 51-55 City Road
Southbank, VIC, 3006
P +61 3 9697 9090 F +61 3 9697 9091 [email protected] www.allianceresources.com.au ABN 38 063 293 336
ASX ANNOUNCEMENT
JORC Code, 2012 Edition - TABLE 1 report
|
Criteria
|
Commentary
|
|
Sampling
techniques
|
The principal sampling method was by downhole geophysical PFN and gamma probes
in rotary mud drill holes for both grade and lithological logging, PFN grade logging directly measures in-situ uranium grade, thus avoiding the issue of variable radiometric disequilibrium that can affect results from gamma, which measures uranium daughter products.
The natural gamma tool is calibrated for uranium grade at the 'Adelaide Model' geophysical calibration pits. The PFN is calibrated at the purpose built calibration facility located at Beverley.
|
|
Drilling
techniques
|
Drill holes are drilled vertically using the rotary mud method.
|
|
Drill sample
recovery
|
Rotary mud chip cuttings are collectively photographed at the drill site. Chip tray
samples are kept in storage.
|
|
Logging
|
Chip samples are not collected for laboratory chemical assay.
|
|
Sub-sampling
techniques and sample preparation
|
Sub-samples of the chip cuttings are stored in chip trays as a physical record of the
intersection sequence. Handheld XRF analyses of chip tray samples are collected. The rotary mud chip cuttings are collectively photographed at the drill site.
|
|
Quality of
assay data and laboratory tests
|
PFN directly measures uranium grade. There is no conventional assay data and no
laboratory tests were carried out.
|
|
Verification of
sampling and assaying
|
PFN tools are regularly calibrated at a calibration facility located at Beverley. No
sampling or conventional assaying was carried out.
|
|
Location of
data points
|
Collar coordinates were determined by handheld GPS. Survey data are GDA94, MGA
Zone 54.
|
|
Data spacing
and distribution
|
The drill holes at Four Mile East in this announcement are on fences 25 to 50 metres
apart with holes spaced 25 to 30m apart. The actual location of drill holes to be completed is dependent on the discovered locations of redox/roll fronts.
|
|
Orientation of
data in relation to geological structure
|
Drill holes fences are, in general, oriented perpendicular to the interpreted strike of
the large scale regional roll-front redox boundary however the actual location of drill holes to be completed may be dependent on the discovered locations of more localised redox/roll fronts. Vertical drilling intersects the expected sub-horizontal sediments and mineralization at close to right angles.
|
|
Sample
security
|
Drill hole cuttings are stored at the Beverley Mine.
|
|
Audits or
reviews
|
The raw data underpinning the Exploration Results (delineation drilling results)
information contained herein has not been independently reviewed by Mr Johnston
as CP for Alliance and relies on information provided by Quasar Resources Pty Ltd, the
|
Suite 3, 51-55 City Road
Southbank, VIC, 3006
P +61 3 9697 9090 F +61 3 9697 9091 [email protected] www.allianceresources.com.au ABN 38 063 293 336
ASX ANNOUNCEMENT
|
Criteria
|
Commentary
|
|
manager of the Project.
|
|
Mineral
tenement and land tenure status
|
Mineral Lease 6402 is held 25%3 by Alliance Craton Explorer Pty Ltd (a wholly owned
subsidiary of Alliance Resources Limited)(ACE) and the balance held by Quasar Resources Pty Ltd (Quasar), an affiliate of Heathgate Resources Pty Ltd (Heathgate), both wholly owned subsidiaries of a private US corporation, General Atomics. Quasar as manager for the project, utilizes staff, facilities and equipment at Heathgate's adjacent Beverley Mine site.
A Native Title Mining Agreement is in effect with traditional owners.
The 12,206ha mining lease was granted for a period of 10 years from 26 April 2012. In April 2014, in-situ recovery mining operations commenced within the first stage mining area at Four Mile East deposit with uranium capture at Heathgate's Pannikan satellite plant and precipitation, drying and packing at Heathgate's Beverley processing plant.
|
|
Exploration
done by other parties
|
The Oilmin-Transoil-Petromin Group discovered Beverley in 1969 and ISL
development was proposed by South Australian Uranium Corp in 1982 but did not proceed until after Heathgate acquired it in 1990 and commenced production in 2000. In 2005 Quasar resumed exploration drilling at 4,000m x 2,000m spacing on the
'Arkaroola' licence to the west (then held by ACE).This led to the discovery of Four
Mile East in hole AK010 which returned 1m @ 0.16% eU3O8 from 181m depth.
|
|
Geology
|
The mineralisation is of the sandstone uranium type, associated with redox interfaces.
The mineralisation announced today is interpreted to lie within an apparent regional roll-front type redox interface that embraces the Four Mile West, Four Mile East, Pepegoona and Pannikan deposits over a total strike length of 7.5 kilometres.
A detailed interpretation of the sedimentary sequence is not yet available for these preliminary drill holes.
Mineralisation is hosted in Mesozoic sediments of the Frome Embayment and underlain by crystalline Meso/Palaeoproterozoic basement, with Mesoproterozoic granites considered source rocks. Other deposits occur in Tertiary sands of the overlying Callabonna Sub Basin of the Lake Eyre Basin, extending over an area of approximately 25,000km2 between the Mount Painter Inlier in the north west, Olary Block to the south and Broken Hill Block to the east.
|
|
Drill hole
Information
|
Drill hole coordinates together with uranium mineralized intersections detected by
PFN and gamma log probes are presented in Table A.
|
|
Data
aggregation methods
|
PFN grade logging directly measures in-situ uranium grade and thickness. For gamma
logs, the area under an anomalous gamma curve is proportional to the grade x thickness (GT) of the mineralised intercept. In both cases calibration data unique to the individual probe are used to "correct" the measured data to standard measures in purpose built calibration facilities. In order to derive an estimate of equivalent
|
3 Reducing to approximately 15% by 31 December 2015 in respect of the Four Mile Mine Development Area as a result of Alliance
Craton Explorer Pty Ltd electing not to contribute to the Four Mile 2015 Program and Budget. Refer ASX announcement dated 20
November 2014.
Suite 3, 51-55 City Road
Southbank, VIC, 3006
P +61 3 9697 9090 F +61 3 9697 9091 [email protected] www.allianceresources.com.au ABN 38 063 293 336
ASX ANNOUNCEMENT
|
Criteria
|
Commentary
|
|
uranium grade from gamma logs it is necessary to estimate the intercept thickness (T)
and calculate grade by division grade G=GT/T. Anomalous intersections indicated by the down hole gamma probe are expected to exceed the true width due to the "shoulder effect" whereby radiation is "recorded'" by the probe as it approaches and leaves the mineralised zone. Classically, the shoulder effect is compensated in gamma logs by a deconvolution process. This process is not utilised by Quasar which,
as a "rule of thumb", applies the PFN derived thickness to the gamma log GT to obtain gamma log equivalent grade.
|
|
Relationship
between mineralisation widths and intercept lengths
|
Unless there has been significant structural disturbance the sedimentary beds are
expected to be sub-horizontal and the intersected thickness is expected to be close to the true thickness.
|
|
Diagrams
|
Plan Figure 1: Four Mile Project drill hole locations (since November 2013); Plan
Figure 2: Four Mile East drill hole locations and Table A: Latest drill hole results
(intercepts >0.5m% (GT-PFN) highlighted) are included in this announcement.
|
|
Balanced
reporting
|
The results for all holes drilled during the reporting period are shown in Table A.
|
|
Other
substantive exploration data
|
Assuming no sampling or calibration errors, the difference between the gamma
derived equivalent uranium grade and the PFN measured uranium grade should be a measure of disequilibrium within the mineralised intersection. Inspection of the results shown in Table 1 implies significant disequilibrium is present in this area.
|
|
Further work
|
The current drill program is in progress.
|
Competent Person's Statement
The information in this report that relates to Exploration Results (delineation drilling results) is based on information compiled by Mr Stephen Johnston who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Johnston is a full time employee of Alliance Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Johnston consents to the inclusion in the report of the matters based on information provided to him by Quasar Resources Pty Ltd in the form and context in which it appears and subject to the qualifications entered in the JORC 2012 Table 1 Report.
Suite 3, 51-55 City Road
Southbank, VIC, 3006
P +61 3 9697 9090 F +61 3 9697 9091 [email protected] www.allianceresources.com.au ABN 38 063 293 336