What I like about this one is the new/innovative approach that...

What I like about this one is the new/innovative approach that is being taken to explore the area...with 3 or 4 options for potential mineralisation.
After all, the uranium that BHP have in their deposit came from somewhere else to accumulste in the watercourse.
If the Yeelirrie area turns out to be a uranium province (see extract from 19/7/10 announcement below) ....we have most of it pegged !!
And, they have delivered on their promise to drill this year.
They will only have to turn up a sniff of uranium to get the sp moving significantly imo.
Good luck .
Q

"Conceptual mineralisation models for the Yeelirrie Valley project
The Yeelirrie uranium deposit is an integral part of the drainage basin in which it occurs. The
granites of the area are regarded as being the source of the uranium within the deposit.
Uranium, which is highly mobile at room temperature conditions in the natural environment,
has been leached from the granites and into the groundwater. These waters migrate into the
central drainage channel. Subsequent evaporation has resulted in the precipitation of
extensive calcrete and the concentration of uranium as carnotite.
Worldwide, there are two classic regions where calcrete uranium mineralisation develops:
Western Australia and Namibia. Examples from Western Australia include Yeelirrie (BHP
Billiton), Hinkler Well/Lake Way/Centipede (Toro Energy), Lake Maitland (Mega Uranium
Ltd) and others. From Namibia, the best known is the Langer Heinrich deposit, which is
presently under development by Paladin Energy Ltd (Table 2). Other examples include
Trekkopje (AREVA), Tubas (Deep Yellow) and numerous occurrences (Table 2) along the
Namib Desert coast from Swakopmund to the Angolan border.
6
RESERVES RESOURCES
Proven Probable Measured Indicated Inferred
TOTAL
U3O8 Grade U3O8 Grade U3O8 Grade U3O8 Grade U3O8 Grade U3O8 Grade
Deposit
style Country Deposit Company Date of
resource
(tonnes) (%U3O8) (tonnes) (%U3O8) (tonnes) (%U3O8) (tonnes) (%U3O8) (tonnes) (%U3O8) (tonnes) (%U3O8)
Australia Yeelirrie BHP Billiton 1980 ? ? ? ? ? ? ? ? ? ? 52,500 0.150
Namibia Langer Heinrich Paladin Energy Ltd 24-Sep-08 17,915 0.060 11,947 0.060 19,575 0.060 13,271 0.060 41,541 0.060 104,250 0.060
Trekkopje AREVA Dec-09 1,004 0.015 48,907 0.015 3,654 0.013 53,565 0.015
Klein Spitzkoppe Atomredmetzoloto JSC 1,435 0.028 1,435 0.028
Aussinanis Deep Yellow Ltd 26-May-10 1,243 0.022 6,960 0.024 8,203 0.023
Inca Deep Yellow Ltd 22-Apr-10 2,268 0.039 4,083 0.040 6,350 0.040
Calcrete-hosted
Tubas Red Sand Deep Yellow Ltd 22-Apr-10 532 0.017 1,683 0.015 2,215 0.016
Namibia R?ssing Rio Tinto Dec-07 9,800 0.050 45,709 0.035 567 0.021 29,874 0.026 14,739 0.020 100,689 0.032
R?ssing South
(Zone 1)
Extract Resources Ltd 2-Jul-09 10,886 0.053 54,880 0.044 65,765 0.045
R?ssing South
(Zone 2)
Extract Resources Ltd 22-Jul-09 55,334 0.054 55,334 0.054
Ida Dome Extract Resources Ltd 6-Aug-08 140 0.025 11,248 0.021 11,388 0.021
Etango Bannerman Resources Ltd Mar-10 12,100 0.022 52,200 0.022 9,100 0.021 73,401 0.022
Granite-hosted
Valencia Forsys Metals Corporation Nov-09 3,265 0.017 24,174 0.015 3,673 0.015 30,570 0.013 3,810 0.013 65,493 0.014
Table 2 ? Comparison or resources and reserves for Yeelirrie and other calcrete‐hosted uranium deposits from Namibia, as well as granite‐hosted uranium deposits from the same region of
Namibia.
A major contrast between Namibia and Western Australia is that the more mature Namibian
uranium fields are host to both the calcrete hosted carnotite deposits, and to the granite (or
alaskite) hosted uranium oxide deposits in the hinterland. These include R?ssing (Rio Tinto),
R?ssing South (Extract Resources), Etango (Bannerman Resources), Valencia (Forsys
Metals Corp.) and a number of others. In Western Australia, uranium oxide deposits have
not, to date, been discovered in proximity to the calcrete hosted deposits.
One of our targets at Yeelirrie Valley will be alaskite-hosted uranium oxide mineralisation in
the hinterland ."