AGS and Heathgate will have a very profitable mine from existing announced resources. But so much more is yet to come. The geological landscape around B4M is so uranium rich that the Blue Bros are having sleepless nights. The recent announcement of more finds to the North of Beverly are a precursor to more announcements from B4M. The following is in the public arena but is it in the public awareness. But the Mr Rann is well aware of the importance of B4M.
Sam Walker (Team Leader — Project Facilitation, Mineral Resources Group, PIRSA)
"The geological settings are different to the Beverley uranium system which is hosted in Miocene sand channel systems of the Namba formation. Four Mile mineralisation is within reduced Eocene sands and sandy siltstones interpreted toi belong to the Eyre Formation which locally overlies Mesoproterozoic basement
In January 2008 Quasar Resources and Alliance Resources announced concept plans for staged development of the Four Mile deposit. Stage 1 plan utilises in situ leach mining at an initial capacity of 1.5 Mlbpa from the Four Mile East deposit, commencing in 2010.
Stages 2 and 3 provide for a progressive increase to a projected 3 Mlbpa in Stage 2 and 4.5 Mlbpa in Stage 3 with production from new well fields at Four Mile East and Four Mile West.
The Four Mile Project currently has a resource of 3.9 Mt at 0.37% U3O8 for 15 000 t, or 32 Mlb of U3O8 within the Four Mile West deposit.
High-grade drilling results from the nearby Four Mile East deposit indicate the potential for a significant upgrade to the total resource. It is estimated currently that Four Mile East may contain 13 500 – 21 500 t (30–47 Mlb) of U3O8."