...Four Mile is the largest Australian uranium discovery in 25 years

Alliance Resources Limited (ASX Code: AGS) is ASX listed resource company focused on the development and imminent production from its joint venture interest in the Four Mile Uranium Project in South Australia, and in realising value from its extensive exploration interests.

The Four Mile Joint Venture Area is located 550 kilometres north of Adelaide in South Australia. Alliance holds a 25% participating interest in the joint venture.

Quasar Resources Pty Ltd (Quasar), an affiliate of Heathgate Resources Pty Ltd (Heathgate), which owns and operates the Beverley Uranium Mine located 8 kilometres southeast of the Four Mile Joint Venture Area, holds a 75% interest in the joint venture and is the manager of the project.

There are two mineralised zones within the joint venture area; Four Mile West and Four Mile East. Four Mile West has an Inferred Mineral Resource of 32 Mlb U₃O₈ in accordance with the JORC Code. Estimation of the mineral resource for Four Mile East is in progress.

In September 2008 Quasar Resources notified Alliance of its “decision to mine” and provided Alliance with a feasibility study recommending uranium mining using ISR technology, with production commencing in January 2010 at a projected rate of 2.6 Mlb U₃O₈ per annum, increasing to 3 Mlb U₃O₈ per annum within three months.