Alliance Resources (AGS)

Shares / Stock Code

AGS

Stock Exchange / Sharemarket

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Alliance Resources (AGS) is a mineral exploration company which focuses on exploration for uranium, gold and copper-gold, in South Australia and Victoria. Alliance has a 100% ownership of Maldon Gold Project, located in Victoria. The Company is searching for copper-gold at the Warrina Project in South Australia and for copper and base metals near Broken Hill in New South Wales. Alliance Resources was listed on the Australian Stock Exchange on 19 of October, 1994. Alliance holds a 25% free carried interest in the Arkaroola Project in South Australia, where Quasar, its 75% joint venture partner and project manager, is searching for uranium, copper and gold deposits. The Company's Arkaroola Project is situated immediately west of the Beverle.

Quasar Resources Pty Ltd is an affiliate of Heathgate, which has the ownership of the adjacent Beverly ISL uranium mine. The Joint Venture declared an Inferred Mineral Resource in May 2007, for the Four Mile West Uranium Deposit of 3.9 million tonnes at 0.37% U3O8 having 15,000 tonnes (32 million lbs) of U3O8. The Four Mile Uranium Project is located in the west of the Beverley Mine and is one of the highest-grade roll-front deposits in the world. The maiden resource estimate for Four Mile only covers the western side of the deposit. The Premier of South Australia has offered its services for the development of the Four Mile project.

Alliance Resources History

Alliance Resources was listed with the Maldon Gold Project. AGS owns a 25% interest in the Four Mile Project, where its joint venture partner Quasar is manager for exploration. The Four Mile Project is perhaps the highest-grade uranium roll-front deposits known. The Maldon Au mine development is going fine and high grade along with existing infrastructure and a higher gold price are likely to provide the basis for a profitable mine. An application has been lodged for an ML over Four Mile. The South Australia government has provided a great support for this project.