Alliance Resources (ASX:AGS) have announced yet more high grade hits at its Beverly Four Mile project (J.V. with Quasar) in South Australia. Deeplode has mentioned AGS a few times but it keeps getting better. In fact they are having difficulty finalising a final resource estimate because the size of the deposit just keeps on getting bigger. The market response stays subdued but it won't forever of course. New reactors are on the go globally but production is being held back by the global conditions.
However the price of uranium is gathering pace on the upside.
Check out the full report on their web site.
Here is a small extract.
"FOUR MILE URANIUM PROJECT FOUR MILE WEST NEW DRILLING EXPANDS AREA OF HIGH-GRADE MINERALISATION HIGHLIGHTS
The results reinforce the Four Mile Project as a high-grade mineralized system with potential for significantly increasing the uranium resource base.
Mineralisation at FMW remains open to the north, northeast, west, and southwest.
The mineral resource estimate for a part of the Four Mile East Deposit is in progress and anticipated to be complete in January 2009"