SIM scimitar resources limited

I have been holding patiently waiting for the next phase.Just...

  1. 271 Posts.
    I have been holding patiently waiting for the next phase.

    Just announced:
    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.
 
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Currently unlisted public company.

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