On 21 May 2007, Uranio Limited (“Uranio”) entered into an Agreement with Deep Yellow Limited (“Deep Yellow”) to secure a 70% interest in the existing Siccus Joint Venture and to acquire a 70% equity interest in three highly prospective uranium projects comprising Ponton North; Gardner Range and Anketell. ( refer Figure 1)

These Projects are considered to have potential to host significant uranium deposits based upon both the geographic proximity to delineated uranium deposits established by others, and the similarity in geological settings to those nearby deposits.

The Siccus Project is located in a prime location within South Australia’s Frome Embayment area, close to where uranium is already being exploited using in situ leaching techniques at the Beverley and Honeymoon deposits – most importantly the Siccus Project lies within a similar geological setting to those established deposits.

Ponton North, Anketell and Gardner Range, located in Western Australia, lie within various geological settings all of which are considered favourable for the location of uranium deposits, with the existence of uranium mineralization within, or nearby, to each of the project areas. 

The Ponton North Project is adjacent to the Mulga Rock deposits and contains known uranium mineralisation in the same palaeochannel system. Exploration work on the Gardner Range Project is focused on known mineralisation at the Don and Deva uranium prospects and the Venus gold prospect. The Anketell Project consists of a large block of tenements that are currently under application and lie 100km to the north of the large Kintyre uranium deposit.

The following table summarises the main exploration models for the projects and lists a number of local and type examples of that style of mineralisation.

For status updates on all projects please refer to the latest Quarterly Activity Report in the Investor Centre section of this website, or on the Uranio Limited ASX page.