Uranium Australia Pty Ltd (UAU) is a wholly owned subsidiary of Polymetallica Minerals Ltd. UAU is dedicated to exploring for uranium and thorium within Pine Creek Orogen, a world class uranium province located in the NORTHERN TERRITORY .
In the NORTHERN TERRITORY, Uranium Australia explores Rum Jungle Project which is located within the Pine Creek Orogen's Rum Jungle Mineral Field. Pine Creek Orogen is a main uranium producing area in Australia. Deposit grades here are in the range 0.185–2.0% U3O8. Ore tonnages range up to 31 million tonnes (Jabiluka2). The best known historical and currently operating uranium mines in the area include Rum Jungle Creek South, Ranger and Jabiluka. At Rum Jungle UAU is focusing on the low-cost, high-value unconformity related uranium mineralisation which occurs on the carbon-rich interface between the Coomalie Dolostone and the Whites Formation. Unconformity-type uranium deposits contribute about 20% of Australia’s total uranium resources inventory, and altogether, represent about 30% of the world’s low-cost category resources. Last year, Pine Creek Orogen has produced about 10% of global uranium supply. Deposits in Rum Jungle tend to occur at shallow depths and historically had grades of between 0.2% and 0.6% of uranium.
The largest of the uranium deposits, RUM JUNGLE CREEK SOUTH which is located on the boundary of Uranium Australia’s exploration leases occurred at a very shallow depth and was mined at a grade of 0.48% uranium for approximately 9 million pounds of uranium oxide. Uranium Australia’s Northern Territory projects extends for 20 km from the pit wall of RUM JUNGLE CREEK SOUTH which was the largest uranium mine within Rum Jungle Mineral Field (RJMF) along the uranium bearing carbon-rich interface which hosts all major uranium mineralisation within the RJMF. RJMF is the location of several high grade uranium deposits and mines and is the oldest uranium producing region in Australia. It is considered by experts to be the most promising area for the discovery of near-surface high-grade unconformity-style uranium deposits.
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Name ChangeOn 29 August 2011 shareholders have resolved to change the name of the company from Uranium Australia Ltd to Polymetallica Minerals Ltd. The name Polymetallica Minerals better reflects the multi commodity exploration potential of Company’s assets. The name of Uranium Australia and associated trademarks have been transferred by Polymetallica Minerals Ltd to its wholly owned subsidiary Uranium Australia Pty Ltd which will continue to explore for uranium within Company’s projects. CLEAN NUCLEAR POWER
A nuclear power station requires 33.7 tones of enriched uranium p.a. for every 1,000 MWe of power generating capacity. Compare this with a requirement of about 6 million tones p.a. of coal to fuel the same sized coal burning plant which will be emitting 8.2 million tones p.a. of carbon dioxide. The world's current standing nuclear power generation capacity saves over 2.6 billion tones p.a. of carbon dioxide emission. Uranium Australia is ideally positioned to take advantage of the opportunities offered by the increased demand for clean power and its only dependable source - uranium. LINKSBack to Polymetallica Minerals Ltd
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