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Exploration to begin

Saturday, 21st April, 2012

Company seeks uranium near city

A South Australian explorer is set to become one of the first companies in the country to take advantage of the NSW Government’s lifting of a ban on uranium exploration.

Marmota Energy yesterday announced it had applied for three new uranium prospective tenements north-west of Broken Hill in NSW.

The moves follows the lifting of a 28-year ban on uranium exploration in NSW last month.

The company said in a statement that it considers the three areas to be as prospective as its Junction Dam uranium project in South Australia.

It said that, strategically, the project areas were located close to good infrastructure and within about 70km of Broken Hill.

“It also lies within Lake Frome Embayment, the same geological province that hosts other world class sandstone-hosted uranium deposits.

“The project is located nearby to existing Marmota exploration operations where Marmota is well established locally, enabling efficient roll out of exploration programs.”

Managing director Dom Calandro said once fully granted in coming months, the company would apply the exploration method to its NSW project at Junction Dam.

Meanwhile, a drilling program is underway at Junction Dam following confirmation from assay assessment that there was high grade uranium in the company’s leases.

“The assay grades are comparable to the uranium grades at the new Honeymoon in-situ leaching uranium mine, just 10 kilometres to the west of Junction Dam,” Mr Colandro.

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