About UraniumSA Limited
UraniumSA is an Adelaide based explorer specialising in uranium mineralisation within a substantial portfolio of properties in South Australia's Gawler Craton.
The Company has discovered sediment hosted uranium mineralisation within Exploration Licence 4979, Samphire, which is located 20km south of the industrial city of Whyalla on the eastern Eyre Peninsula in South Australia. The Exploration Licence is owned and operated by Samphire Uranium Pty Ltd, a wholly owned subsidiary of UraniumSA Limited.
The Samphire project contains the:
Blackbush deposit with an estimated inferred resource 64.5 million tonnes of mineralisation at a bulk grade of 230ppm containing 14,850 tonnes U3O8 at a 100ppm eU3O8 cut-off grade (JORC 2012).
Plumbush deposit with an estimated inferred resource 21.8 million tonnes of mineralisation at a bulk grade of 292ppm containing 6,300 tonnes U3O8 at a 100ppm eU3O8 cut-off grade (JORC 2004).
On 6 April 2016 the Company announced a proposal that involves the demerger of a restructured Samphire Uranium Pty Ltd to Samphire Uranium Limited ('SUL') as a separate standalone unlisted public company. SUL is the owner of the Samphire Project Uranium Assets. Subject to shareholder approval the demerger will result in the following structure with UraniumSA shareholders owning shares in both entities pro-rata to their holding in UraniumSA at the time.
ORGANISATION STRUCTURE - 2016 (Post - Proposed Demerger)
A B
UraniumSA Limited
(ASX code: USA Ultimate Holding Co.)
Samphire Uranium Limited
(unlisted Public Company)
Fatjack Pty Ltd (100%)
Boston Minerals Pty Ltd (100%)
Angus Resources Pty Ltd (100%)
Function
Corporate strategy and delivery, finance and asset management/asset holder
Function Subsidiary holding exploration assets
Function Subsidiary holding exploration assets
Function
Owner of Samphire Project, exploration for uranium and base metals
Function
owner and operator of plant and equipment
Assets
100% Fatjack Pty Ltd
100% Boston Minerals Pty Ltd
Assets
EL4694 - Muckanippie (basement complex)
Assets
Cleve Project
ELA 2015/00113 - Sheoak Hill
ELA 2015/00114 - Lock
Cariwerloo Project
ELA 2015/00126 - Whymlet
Assets
Samphire Project (host of Blackbush & Plumbush deposits)
EL4979 - Mullaquana
EL5426 - Midgee (JV Hiltaba) EL5440 - Murninnie
EL4693 - Wild Horse Plain (JV Pirie Resources Pty Ltd) (100% interest in JV Uranium)
Samphire - Nonowie pastoral leases
100% Angus Resources Pty Ltd (owner of plant & equipment)
Assets
Backfill And rehabilitation plant, down hole geophysical logging plant
The exploration results and mineral resources reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Russel Bluck a Director of UraniumSA Limited and Member of the Australian Institute of Geoscientists with sufficient experience relevant to the style of mineralisation and type of deposits being considered, and to the activity which is reported to qualify as a Competent Person as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012 Edition). Mr Bluck consents to the inclusion in the report of matters based on his information in the form and context in which it appears. It should be noted that the abovementioned exploration results are preliminary.