Proactive Investors UK - U3O8 returns significant uranium assays from Mad Gap Project

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Additional	Information
Market:	ASX
Sector:	Energy
Epic:	UTO
News:	Latest news
Web Site:	U308 LIMITED
Other Articles:	09-02-2010 24-11-2009 06-11-2009

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U308 LIMITED

U308 Limited is engaged in uranium exploration. The Company controls 44 exploration licenses, 33 of which are granted, and 11 of which are under application, for a total area of almost 6500 square kilometers. Most of the Company's projects are held 100% by U3O8 Limited, but the Company does have a joint venture with Cameco in the Ashburton, is farming into eleven tenements held by Northern Star Resources in the East Kimberley, and has signed a joint venture and farm in agreement with World Uranium on the Mango Bore project in the Gascoyne. All joint ventures are in Western Australia. The Company has initially concentrated its exploration on the shallow calcrete hosted uranium projects (Dawson-Hinkler Well, Wabli Creek). The Company is also focusing on its Olary Creek project in South Australia.

Tuesday, February 09, 2010

U3O8 returns significant uranium assays from Mad Gap Project

Australian-listed uranium company U3O8 (ASX: UTO) has announced a number of significant uranium assay results from its 100% owned Mad Gap Project in the Kimberley region of Western Australia.

In all, 7 rock chip samples were collected from Anomaly 1, a previously identified anomaly situated on Exploration Licence E80/3398.

Exploration Licence E80/3398 forms part of the 100% owned Mad Gap Project and is situated approximately 65km northwest of Halls Creek, in the Kimberley region of Western Australia.

Following a field examination, visible stratabound uranium mineralisation was recognised at or near the target unconformity. Seven rock chip samples were collected from Anomaly 1.

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