Last known information:20 Oborn Road Mount Barker SA 5251...

Last known information:

20 Oborn Road Mount Barker SA 5251 Australia T: +61 8 8363 7970 F: +61 8 8363 7963 E: [email protected] W: www.uxa.com.au
ASX ANNOUNCEMENT
30 April 2013
Quarterly Activities Report – March 2013
• UXA continuing its restructure to reduce debt and re-focus on
its core strategy of exploration discovery and resource
development.
• Capital Strategies of Adelaide in final stages of completing
the sale of GAA Wireline’s Australian business including
Prompt Fission Neutron technology.
• Sale of US logging business finalised netting UXA
US$350,000
• At Nabarlek North Uranium Project, drillhole 12NN12
intersected 0.46% Cu, 0.01g/t Au and 45ppm U3O8 over 2m
interval interpreted to be the same hosting structure which
returned 460ppm U3O8 over 1.3m in drill hole 11NNRC04a.
• Access negotiations successfully completed with
Commonwealth Department of Defence in preparation to
explore UXA’s 100% owned and drill ready Nemesis gold
project.
SUMMARY
UXA is progressing to divest its wireline operating companies and non-core exploration assets,
to effectively re-capitalise the company and re-focus on its core strategy of exploration
discovery and resource development within the company’s flagship projects.
At Nabarlek North, drilling of a structure closest to the dolerite contact returned elevated
anomalous uranium in the region of 460ppm U3O8 over 1.3m in drill hole 11NNRC04a (drill
hole completed in 2011) and 0.46% Cu, 0.01g/t Au and 45ppm U3O8 over 2m in drill hole
12NN12. Both of these intercepts are interpreted to belong to the one easterly dipping fault
structure. Additional anomalous gold values between 0.01g/t to 0.03g/t over 1m intervals
were returned from drill holes 12NN10, 12NN11, 12NN18 and 12NN20
Capital Strategies is undertaking advanced negotiations with several parties for the purchase
of its GAA Wireline logging company and Prompt Fission Neutron technology.
The sale of UXA’s US logging business was finalised 18 April 2013 netting the company
US$350,000.