Project Overview

Metals Australia (“Metals” - ASX: MLS) operates in the mineral resource sector, with its focus on exploration for uranium, base metals and gold in Namibia, Western Australia and Victoria respectively.

The Company has Exclusive Prospecting Licences over two uranium prospects at Mile 72 and Engo Valley in the Republic of Namibia in South Western Africa.

The Mile 72 Uranium Project is a large uranium project on the coast of Namibia, north of the city of Swakopmund. Some of the highest uranium grades in the world have been recorded in outcrop and in shallow pits at Mile 72. Metals has entered into a new phase of exploration at Mile 72, targeting a large high-tonnage moderate grade primary deposit of a similar style to the Rössing and Husab mines to the south.

In Australia, the Company operates the Manindi Zinc Project in Western Australia. The project hosts known resources of zinc and copper with significant exploration upside. The Company holds a number of prospective gold licences in Victoria.

The Company intends to build value for shareholders through the strategic exploitation of its tenement areas, leading to the definition of JORC resources on each of its tenements and in the expansion of the resource base on its Manindi tenements.

Extensive exploration, management and corporate experience are combined in a lean corporate structure that aims to provide maximum returns to shareholders.

URANIUM PROJECTS, NAMIBIA

Metals operates an active exploration for uranium mineralisation at its Mile 72 (EPL 3308) Project in Namibia, southern Africa.

Exploration by the Company has yielded positive exploration results. A high-resolution airborne geophysical survey was undertaken in December 2012 that allowed a new highly detailed interpretation of the geology to be generated.

The combined work to date has highlighted the potential of the project to host high-tonnage moderate grade primary uranium deposits of a similar style to the Rössing and Husab mines to the south. The Company selected a set of high priority targets during the year and commenced an RC drilling program in September 2013.

The Engo Valley Project comprises a series of uranium anomalies exposed in and adjacent to Karoo sedimentary rocks. The project is located around 600 km north of Swakopmund, on the Skeleton Coast of northern Namibia


Namibian Project Locations


Results of a radon cup survey at Mile 72.

Radon cup surveys indicate the presence of uranium in the subsurface, beneath cover. Higher values are represented by warmer colours. Anomalism covers over 16km2 of the 31.5km2 surveyed. A large area of strong anomalism is present beneath sand cover in the Central Areas

BASE METAL PROJECTS, WESTERN AUSTRALIA 


Location of the Western Australian base metals projects

Metals currently holds an interest in two base metal projects in Western Australia. The Manindi zinc project is located around 500 km northeast of Perth and is being explored with a view to expanding the existing resources and examining the project's copper potential.

The Sherlock Bay base metal joint venture project is located in the Pilbara region and is being managed and explored by Australasian Resources Ltd (ARH). The project surrounds ARH’s Sherlock Bay nickel deposit. Recent exploration work by the Joint Venture partner ARH has identified 20 base metal and nickel targets worthy of follow up.

GOLD PROJECTS, VICTORIA


Location of the Wedderburn and South Arnaud projects in western Victoria. Yellow dots represent gold deposits and prospects, and their distribution highlights the rich gold belts of Victoria.

Metals holds two low impact exploration licences in western Victoria. The St Arnaud South (EL5242) and Wedderburn (EL5243) projects contain significant historic workings that have received little modern and systematic exploration.

The Victorian Goldfields were discovered in the gold rushes of the mid-1800s, with all significant gold mining activity ceasing by 1930. Government records show that numerous gold prospects, mines and occurrences are documented within the licence areas.