Stellar Resources Limited, via its wholly owned subsidiary Hitaba Gold Pty Ltd, holds Exploration Licence EL 6350 over the Midgee Uranium Project on Eyre Peninsular, South Australia.

EL6350 reached the end of its initial 2 year licence term on 25 March 2021. Stellar has applied for a further 2 year renewal of EL6350 in February 2020, relinquishing the previously held 73km2 area to a retained area of 38 km2. The renewal application is currently being processed by Department for Energy and Mining, SA.

The retained 38 kmarea of EL6350 under renewal application contains two geologically and physically distinct blocks:

NE Block

The north east block is prospective for southern continuations of the known Plumbush sediment hosted uranium deposit (north of the EL boundary within EL 5926 held by Alligator Energy Limited). Previous rotary mud drilling completed by Stellar’s JV partner in 2010, UraniumSA Limited, intersected potentially economic sediment hosted uranium mineralisation in a number of holes within the northern part of the NE block.

Hole MRM136 provided the best result with an intersection of 7.6m at 0.041% eU3O8, including 1.4m grading 0.106% eU3O8. Hole MRM137, 800m to the east of MRM136 recorded an intersection of 5.0m grading 0.032% eU3O8. Other significant intersections included: MRM128 (2.9m grading 0.016% eU3O8), MRM127 (0.7m grading 0.039% eU3O8), and MRM138 (0.5m grading 0.014% eU3O8).

SW Block

A south-western block which is prospective for uranium and base metals mineralisation associated with the Hiltaba age Charleston granite.

EL6350 – February 2021 Renewal Application Tenement Location Map

EL6350 Midgee: NE Block 2010 USA Drilling with best intercept U3O8 grades