Anketell Project (Company 70%; Deep Yellow 30%)

The Anketell Project is located 350km ESE of Port Hedland and 100km north of Rio Tinto’s significant Kintyre uranium deposit. The project area comprises eleven Exploration Licence Applications covering 2,332 km2. Uranio has acquired an effective 70% equity interest in the Anketell Project from Deep Yellow, and will be manager for future exploration at the project.

The tenement applications, located within the Waukarlycarly Embayment of the Canning Basin, cover approximately 40 kms strike length of Jurassic Callawa Formation rocks which comprise a fluviatile-fossiliferous sequence of sandstones, conglomerates and minor siltstones, up to 80 metre thick.

This formation contains crossbeds and plant fossils which are likely to provide favourable reducing conditions conducive to rollfront uranium mineralisation. The Callawa Formation outcrops within the southern tenements and dips gently to the north within the tenements.

The north western part of the tenement application area has been drilled at an approximate spacing of 6 x 12 kms, with reported Callawa units over Permian throughout the targeted area.

It is envisaged that prior to exploratory drilling a phase of data collection covering historic oil well logging information and remote sensing will be carried out, followed by a program of airborne electromagnetics to identify favourable structural features that will then require follow up drilling.