Flagstaff Uranium Project JV between Scimitar and Placer Dome ACN 102 912 783 7 December 2005 ASX Release Flagstaff Uranium Project JV between Scimitar and Placer Dome The directors of Scimitar Resources Ltd (Scimitar) (ASX code SIM) are pleased to announce that the Company has entered into a Joint Venture with Placer Dome Australia Limited (“PDAL”) on the recently granted EL 08/1435. This will form the Flagstaff JV and will be part of the larger Yanrey Project located near Onslow in Western Australia. The Company will, by meeting all tenement exploration commitments, obtain a 100% interest in all uranium mineralisation within the tenement. The Yanrey Project covers Mesozoic sediments that are highly prospective for sandstone hosted roll front uranium mineralisation similar to that at the adjacent Manyingee Uranium Deposit (Paladin Resources Ltd, 100%, ASX code PDN), which has a published indicated and inferred resource of 12,078 tonnes at 0.08% U3O8. Previous exploration by CRA Exploration Pty Ltd during the 1970s and early 1980s outlined the potential for uranium mineralisation to be located within additional paleochannels. The Flagstaff JV is prospective for the downstream extensions of the known Bennett Well mineralisation and also other interpreted paleochannels. Exploration of this area is expected to commence in early 2006. Yours faithfully Terry Topping Managing Director Information in this report pertaining to mineral resources and exploration results was compiled by Mr T K Topping who is a Member of the Aus.I.M.M. with not less than five years experience in the relevant fields, and who consents to the report appearing in the form and context in which it appears.
SIM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
