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 Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.
AGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
