AGS has now made a reference to "Four Mile South" a project never referred to before.
It is a bonus but does need drilling of course:
Subject: interesting items
Stock Code: AGS - ALLIANCE RESOURCES LIMITED
Posted: 09/05/07 15:57 Hotcopper Radio: AGS on BoardRoom Radio
Posted By: stolwyk Views: 523
Post #: 1774466 (Start of thread) Sentiment: Buy
Disclosure: Stock Held
It appears that an officer from AGS made a reference to a possible 3rd project: Project "South":
http://hotcopper.com.au/post_thread.asp?fid=1&tid=475742#1774144
I can't find any reference to item "South" before, so, this is a welcome addition to the existing "West" and "East" Projects.
However, "South" has not been drilled before, so more drilling needs to be done. (AGS is free-carried).
From their 8 May announcement:
"The Directors of Alliance Resources Limited (“Alliance”) (ASX Code: AGS) are pleased to announce that the estimated Inferred Mineral Resource for the Four Mile West Uranium Deposit is 3.9 million tonnes at 0.37% U3O8 containing 15,000 tonnes (32 million lb) of U3O8
using a cut-off of 0.5 metre @ 0.05% U3O8 for the database of composite intercepts and a grade-thickness (GT) cut-off of 0.15 metre % U3O8 to define the resource".
Can someone tell me if these cut-offs are too conservative; it does seem that if these were lowered to realistic levels, the U tonnage may be greater?
ASG is free to carry on with their other projects, their Waldon Gold project is just one under development.
Gerry
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