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  • Mindax Begins Drilling For Uranium At Mukinbudin 0 comments
    Mar 27, 2013 8:55 PM

    Mindax (ASX: MDX) has begun a 7,000 metre drilling program targeting downstream extensions to the 3.2 million pound Resource at the Mukinbudin Project in the Yilgarn-Avon region of Western Australia.

    The program at Mukinbudin follows the successful completion of initial scout drilling at Kellerberrin and is expected to take around four weeks to complete.

    Dr Steve Ward, managing director and chief executive officer, commented: "We are making pleasing progress with our field drilling program and continue to build momentum on our portfolio of projects for key commodities."

    The Mukinbudin Project, which is being funded entirely by Mindax, is part of the Yilgarn-Avon Joint Venture.

    A maiden Inferred Resource of 3.2 million pounds at 0.02% U3O8 has been defined at two prospects, Jindarra and Yandegin, within the project.

    Both the Jindarra and Yandegin Prospects have the potential to increase the Resource as the mineralisation has not been closed off.

    Mindax has outlined an exploration target for Mukinbudin of 10 to 25 million pounds at between 0.05% and 0.15% U3O8.

    The Yilgarn-Avon Project is a 77/23 joint venture between Mindax subsidiary Mindax Energy and partner Quasar Resources, an affiliate of Heathgate Resources - the owner/operator of the Beverley uranium mine in South Australia.

    Together the joint venture includes the Mukinbudin, Kellerberrin and Quairading Projects, which together span 1,485 square kilometres.

    Drilling recently completed at the Kellerberrin Project comprised a total of 39 holes for 1,885 metres.

    Mindax had around A$3.95 million in cash at the end of December 2012.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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