Callabonna Resources Limited
Callabonna Resources is an ASX listed mineral explorer.
The Company's focus is on discovery or acquisition of a large low cost mineral production asset.
The Company's directors are experienced in mining, project development, exploration geology and geophysics.
- Eastern Frome Embayment NSW - ongoing exploration
- Caldera Project QLD - Cu-Au-U targets defined, joint venture opportunity
- Divesting by tender Georgetown Gold and Arunta assets
Callabonna derives its name from the Callabonna Sub-basin home to several uranium mines in the Frome Embayment area in South Australia. These mines are hosted by sandstone, use in situ leach extraction and are profitable, for example Heathgate’s Beverley uranium mine. The basin straddles the South Australia-NSW border near Broken Hill.
The Company has been operating out of Broken Hill since 2008 and retains an exploration project in the Eastern Frome Embayment about 80 km from Broken Hill.
During the period 2010 and 2012 the Company also assembled a portfolio of tenements near Georgetown in QLD that have potential for Cu porphyry, epithermal Au and large volcanogenic uranium deposits. Recently an application has been made to the Department of Natural Resources and Mines to consolidate these areas into a single, Project Based Tenure Administration Application (“the Caldera Project”). This included a request to vary conditions more favourable to the Company. A decision on this request is still pending. Meanwhile the Company is seeking potential joint venture partners.
Projects that do not meet the Company's long term objective will be divested by tender. Currently this includes two Georgetown Gold Exploration Permits at Delaney and Central and the Denison Uranium Project in the Arunta Block north of Alice Springs. The Weipa Cape York Bauxite Project has been sold and is pending settlement.
Since listing on the ASX in September 2009 via a merger with MKY the main activity has been on exploring the Frome Embayment with over 100 holes drilled and the flying of several very large AEM surveys in South Australia. This was an ambitious program and our geologists have learned a great deal about the Callabonna Sub-basin. The Company remains focused on the eastern margin near Broken Hill in NSW.
To reflect a broader Corporate strategy the Company changed it's name from Callabonna Uranium to Callabonna Resources in September 2012.