Cameco Australian uranium exploration JV

Cameco Australia and Australian exploration company U3O8 Limited have set up a joint venture covering exploration and development of uranium prospects in the Ashburton area of Western Australia. U3O8 will manage the exploration phase of the joint venture, while Cameco has the right to manage development if the is a discovery of a mineral resource containing at least 25 million pounds U3O8. The 1200 square kilometer exploration area has reportedly strong geological similarities to Northern Australia's Alligator River area, and past exploration has returned rock chips with up to 37% U3O8.

Further information

U3O8 Limted