Sent me to look at them, and I think AQDOA are actually a good opportunity for a future multi bagger.
Uranium exploration starting shortly – should keep it on the one to watch board!
AusQuest Limited 6 Kearns Crescent Ardross WA 6153 (T): 08 9364 3866 (F): 08 9364 4892
www.ausquest.com.au
January 11, 2007
ASX Release
AUSQUEST TO COMMENCE URANIUM EXPLORATION AT
SYLVANIA
AusQuest Limited (ASX: AQD) advise that detailed helicopter borne radiometric surveys are
scheduled to commence next week within its 100% owned Sylvania Project south of Newman
in the east Pilbara region of Western Australia, where earlier reconnaissance sampling by the
Company had returned anomalous uranium assays (up to 341 ppm U3O8) from surface
ironstone and calcrete samples (ASX report 20th November 2006).
The ironstones reflect targets along dykes, shears and fractures within the granitic bedrock
whereas the calcretes are believed to be similar to those which host the uranium deposits at
Yeelirrie (BHP) in Western Australia and at Langer Heinrich (Paladin Resources) in Namibia
(South West Africa).
A total of twelve areas varying from 2 km ² to 20 km ² in size have been outlined for detailed
helicopter surveys. The Company believes that the ability to fly slow (60 knots) along close
spaced flight lines (50 metres) at low altitude (approximately 30 metres) will provide the
detailed sampling coverage required to advance the prospects to the drilling stage later in
2007. No previous drilling for uranium has been carried out within the Company’s leases.
Fugro Airborne Surveys has been contracted to undertake the surveys and will provide
corrected radiometric data (uranium, thorium and potassium channels) within three to four
weeks of completion of flying.
AusQuest continues to be encouraged by the early sampling results which confirmed the
presence of uranium in a variety of geological settings. The Company controls approximately
1800 km ² of title in the Sylvania region.
Graeme Drew
Managing Director
