Star Minerals: A timely pivot into uranium elephant country
Star Minerals Director Ashley Jones on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
Listen to ASX-listed Star Minerals Director Ashley Jones talk to Matt Birney on the Bulls N’ Bears Report about Star’s brand new uranium project that already has a solid uranium endowment and at least 11 early drill targets that look very interesting.
TO LISTEN TO THE STAR MINERALS AUDIO INTERVIEW - CLICK BELOW
Star Minerals has the West Bryah copper gold project in WA’s north and about 45,000 ounces of gold at its Tumblegum South project near Meekatharra that already has a scoping study done based on toll treating. More recently however, Star pivoted into uranium when it announced a farm in deal to acquire up to 85% of the Cobra uranium project in Namibia from a Canadian listed company. The project is in a well-known uranium district and already has a solid endowment of uranium identified within.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by uranium and gold explorer Star Minerals.
Matt Birney - I'm Matt Birney and I'm joined now by the soon to be Managing Director of Star Minerals, Ashley Jones.
Matt Birney - Hi Ashley
Ashley Jones - Hi Matt
Matt Birney - Okay so Star Minerals has the West Bryah copper-gold project in WA’s north and about 45,000 ounces of gold at its Tumblegum South project near Meekatharra that already has a scoping study done based on toll treating. More recently however, Star pivoted into uranium when it announced a farm in deal to acquire up to 85 per cent of the Cobra uranium project in Namibia from a Canadian listed company. The project is in a well-known uranium district and already has a solid endowment of uranium identified within.
Matt Birney - Okay Ashley exactly where is this new project and how much ground does it cover?
Ashley Jones - Yeah the tenement's 297 square km and it's 50km inland up the B2 from Swakopmund.
Matt Birney - Okay what's the existing resource at the project and when was it done?
Ashley Jones - Yeah the existing resource is actually a foreign estimate, it was done by SRK in the UK in 2015 to JORC 2012 standards but we can't actually report that. It's 15 million tonnes at 260 PPM uranium, for a total of 9 million pounds.
Matt Birney - And what are some of the better drill intersections at this project to date?
Ashley Jones - Yeah really really good, we've got 60 meters at 333 PPM and that's including 5 at 414 PPM, 6 meters at 676 and 10 meters at 732.
Ashley Jones - Additionally other holes, 7 meters at 971 PPM, 9 meters at 636 so really great results to base that resource on.
Matt Birney - Now I take it this resource, well I guess you can't really call it a resource at this stage, but I take it the mineralization is still open? Where do you see the best opportunities to expand it?
Ashley Jones - To depth and to along strike is all open to about 1.52 km so we're going to target that dense of land in this next program.
Matt Birney - And have you got drill targets lined up?
Ashley Jones - Yeah there's actually permission to drill at least six holes and definitely targets already generated by Madison.
Matt Birney - What are other examples of any of uranium discoveries nearby this project?
Ashley Jones - Yeah there's some projects right next to it within 10km of Rossing, which has been operating continuously for 50 years and also Husab which opened in 2014 I think.
Matt Birney - And what will it cost you to get the first milestone of this farm in which I understand is 51 per cent you can then go to 85 but what will it cost you to get that 51 per cent locked away?
Ashley Jones - About $4 million US and that's including some payments to the vendors.
Matt Birney - Ashley Jones from Star Minerals.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears
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