General comments/chat, page-44579

gotta go back a few years but ADN has had a crack at that too...

Friday 21 December, 2012
Company Announcements Office
Australian Securities Exchange Limited
PO Box H224
Australia Square NSW 1215
QUASAR RESOURCES WITHDRAWAL FROM CORROBINNIE URANIUM JV
Today Adelaide Resources received notice from Quasar Resources Pty Ltd ("Quasar") of its
intention to withdraw from the Corrobinnie Uranium Joint Venture (“CUJV”), located on the
Eyre Peninsula of South Australia.
The CUJV covered part or all of nine essentially contiguous tenements and held rights to all
minerals over an area of 2101 km2
, and rights to palaeochannel hosted uranium mineralisation
over an additional area of 2042km2
. Quasar's interest in the CUJV was 67.46%. A subsidiary
of Adelaide Resources held the remaining 32.54% interest.
Under the withdrawal provisions of the CUJV, Quasar’s interest in the Joint Venture will be
transferred to Adelaide Resources for no consideration effective 19 February 2013.
Following completion of Quasar’s withdrawal, Adelaide Resources’ Eyre Peninsula Project will
comprise 12 tenements securing a total area of 4906 km2
, of which 4585 km2
will be 100%
owned by Adelaide Resources and 321 km2
will be 90% owned by Adelaide Resources.
Exploration completed during the term of the CUJV discovered uranium in two
palaeochannels, anomalous uranium hosted in basement rocks, and anomalous gold also
hosted in basement rocks. Additionally, three of the tenements that were subject to the CUJV
adjoin the exploration licence in which Investigator Resources Limited’s Paris silver discovery
is located.
kcf