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COMPLII FINTECH SOLUTIONS LTD — Capital/Financing Update 2009
Oct 8, 2009
64639_rns_2009-10-08_bb4ff30f-7b65-4528-8341-a0c254a88e60.pdf
Capital/Financing Update
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Resource Star Limited Level 9, 440 Collins Street, Melbourne Vic 3000 P. +61 3 9607 1322 F. +61 3 9607 1329 www.resourcestar.com.au ABN 71 098 238 585
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9 October 2009 RESO0C0R\ASX022
The Company Announcements Platform ASX Limited SYDNEY NSW 2000
Acquisition of Jupiter Mines Limited Uranium Tenements
Resource Star Limited (“RSL”) is pleased to announce an agreement to acquire three (3) Uranium Exploration Tenements from Jupiter Mines Limited (“JMS”). The assets will supplement the portfolios of RSL’s wholly-owned subsidiaries, Orion Exploration Pty Ltd and Eastbourne Exploration Pty Ltd. The assets comprise the following tenements, in the immediate vicinity of RSL’s high priority Woolgni/Edith River Project on the prospective margins of the highly endowed uranium province known as the Pine Creek Geosyncline in Australia’s Northern Territory. The tenements cover a total of 316.6 square kilometres.
| Project | Tenement | NumberofBlocks | Area(km2) | Current Holder | Share % | Status | Grant Date |
|---|---|---|---|---|---|---|---|
| Woolgni_WestWoolgni_West | ELA25884EL25885 | 2870 | 64.98211.7 | Bluekebble/Redstone/ZirconJupiter Uranium Pty Ltd | 34/33/33100 | ApplicationGranted | 22/10/200722/4/2008 |
| Woolgni_West | EL26341 | 12 | 39.88 | Jupiter Uranium Pty Ltd | 100 | Granted |
The term for each of the granted licences is 6 years. JMS has reached agreement with the owners of the ungranted tenement with respect to the transfer of title, and ownership will be transferred to RSL on grant of this licence.
The cost of acquisition of the package of Tenements was $5,000 plus some transaction costs.
Tenement geology and prospectivity
RSL believes the three (3) Woolgni-West Tenements - EL25885, EL26341 and ELA25884 (Figure 1) contribute to the Project by adding further along-strike potential from the prospects located in RSL’s existing tenements; and bring additional diversity to RSL’s portfolio by providing a number of sediment-hosted redox style uranium targets.
These lie immediately west of RSL’s existing Woolgni-Edith River Project. Uranium anomalies are known within the new tenements from earlier airborne geophysical surveys. These anomalies occur within sandstones and siltstones of the Jindaree Formation, Depot Creek Sandstone and Stray Creek Sandstone which adjoin the Cullen Granite, immediately to the east. This geological setting is prospective for both sandstone-hosted and unconformity-related styles of uranium mineralisation.
These complement the vein and fault/shear-controlled, granite-hosted mineralisation which has been the target of earlier RSL exploration in the project area.
About Resource Star Ltd
Resource Star is a uranium-focussed company with exploration interests in the Northern Territory, Western Australia and in Malawi.
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Richard Evans CEO
RESOURCE STAR LIMITED
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RESO0C0R\ASX022
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Figure 1: Woolgni-Edith River Project Area with tenements acquired from JMS