uxa 30 hole drill program

UXA 30 hole drill program commenced at Nabarlek uranium project, Northern Territory
7-Sep-2012



UXA Resources Limited have announced that it has commenced a 30 hole, 3,000m RC percussion drilling program at Nabarlek North in the Northern Territory.

Nabarlek is UXA’s most advanced uranium prospect. The project is a joint venture between UXA (51%) and RIL Australia Pty Ltd (“RILA”, 49%), a subsidiary of Reliance Industries Limited, a Fortune Global 500 company and India’s largest company by market value.

The program will focus on three target areas for high value unconformity style uranium mineralisation, and is expected to be completed by late September with results to follow.

During the 2011 field season, UXA conducted a first phase RC percussion drilling program along three lines in the south east corner of the Nabarlek North tenement (Figure 1) targeting the potential strike length extension of the U40 uranium prospect. This drilling returned strongly
anomalous results from gamma logging in 5 of the holes up to 1.3m @ 460ppm U3O8.

The company has also completed a radon sampling and soil geochemical program spanning the south and south eastern sections of the Nabarlek North tenement. This survey identified three target areas for follow up including further drilling on the target north of U40. These targets have been further refined by field work in the current (2012) field season which has included outcrop mapping, and detailed soil and spectrometer ground surveys.

UXA’s Nabarlek North and Nabarlek West licences (EL 24564, 24868 and 28245) cover 221km² and are highly prospective for unconformity style uranium deposits and share similar geological features with the former high grade Nabarlek open cut mine (located 7km south) and the operating Ranger uranium mine in the Northern Territory. Additionally, Nabarlek North lies 280 metres immediately north of a recent high grade mineralisation discovery (U40 area) which reported uranium intercepts up to 6.80m @ 6.71% U3O8.