UNIVERSAL RESOURCES LIMITED Audio Webcast

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UNIVERSAL RESOURCES LIMITED (URL)

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UNIVERSAL RESOURCES LIMITED (URL) Events

Company (Stock Code)	Date/Time	Event	Timezone: Australia/NSW
UNIVERSAL RESOURCES LIMITED (URL)	Thu, 28 May 2009 02:30PM	URL - Capital Raising and End of Voluntary Suspension - Mr Peter Ingram, Chairman and MD
UNIVERSAL RESOURCES LIMITED (URL) Company Update	Wed, 4 Mar 2009 02:00PM	URL - Rights Issue Completed - Mr Peter Ingram, Chairman and MD
UNIVERSAL RESOURCES LIMITED (URL)	Mon, 9 Feb 2009 02:30PM	URL - Joint Venture Agreements and Rights Issue - Mr Peter Ingram, Chairman and MD
UNIVERSAL RESOURCES LIMITED (URL) Roseby SEEP Runs Deep	Wed, 20 Aug 2008 11:30AM	URL - Roseby SEEP JV High Grade Sulphide Hits - Mr Peter Ingram, Chairman and MD
UNIVERSAL RESOURCES LIMITED (URL)	Wed, 16 Jul 2008 03:45PM	URL - Presentation at Mining Aust-Asia 2008 Conference - Mr Peter Ingram, Chairman and MD
UNIVERSAL RESOURCES LIMITED (URL) Roseby Moving Forward	Fri, 11 Jul 2008 12:00PM	URL - Construction Contractor Appointed for Roseby - Mr Peter Ingram, Chairman and MD
UNIVERSAL RESOURCES LIMITED (URL)	Fri, 16 May 2008 11:00AM	URL - Roseby Copper Project Update - Mr Peter Ingram, Chairman and MD
UNIVERSAL RESOURCES LIMITED (URL)	Fri, 16 Jun 2006 02:00PM	AMEC Company Presentation - Mr Michael Hulmes, Managing Director
UNIVERSAL RESOURCES LIMITED (URL)	Mon, 27 Feb 2006 02:15PM	Small Caps Big Market - What can they offer?
UNIVERSAL RESOURCES LIMITED (URL)	Sun, 15 Mar 2009 11:00PM	Interim Results
UNIVERSAL RESOURCES LIMITED (URL)	Wed, 26 Nov 2008 01:00PM 03:00AM Australia/WA	Annual General Meeting BDO Kendalls, 128 Hay St, Subiaco, WA
UNIVERSAL RESOURCES LIMITED (URL)	Wed, 1 Oct 2008	Full Year Results
UNIVERSAL RESOURCES LIMITED (URL)	Fri, 30 Nov 2007 10:30AM	Annual General Meeting BDO Kendalls Perth, 128 Hay St Subiaco WA 6008
UNIVERSAL RESOURCES LIMITED (URL)	Wed, 14 Mar 2007 11:00PM	Interim Results
UNIVERSAL RESOURCES LIMITED (URL)	Fri, 24 Nov 2006 10:00AM	Annual General Meeting Horwath Perth, 128 Hay Street Subiaco WA 6008
UNIVERSAL RESOURCES LIMITED (URL)	Tue, 14 Mar 2006 11:00PM	Interim Results
UNIVERSAL RESOURCES LIMITED (URL)	Fri, 25 Nov 2005 11:00AM 01:00AM Australia/WA	Annual General Meeting
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UNIVERSAL RESOURCES LIMITED (URL)

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INTERVIEW WITH MR. PETER INGRAM, MANAGING DIRECTOR OF UNIVERSAL RESOURCES LIMITED (URL)

“URL - Roseby SEEP JV High Grade Sulphide Hits”

http://www.brr.com.au/event/49598

 

WEDNESDAY, AUGUST 20, 2008 11:30 AM.

 

            BRR    Today Boardroom Radio is joined by Mr. Peter Ingram, the Managing Director of Universal Resources. Peter, great to have you back on Boardroom Radio.

10        URL     Good afternoon Joel and to your listeners, it is good to be back with you.

 

            BRR    Peter last week, Universal released some exciting drilling results from the Roseby SEEP program; SEEP of course stands for the sulphide extension exploration program and that is being conducted by Xstrata Copper. First up,

15                    could you perhaps refresh our listeners on the aims of this project?

            URL     Yes, Joel. The SEEP Project was primarily aimed at looking for sulphide mineralization at depths beneath the native copper mineralization that have already been outlined by ourselves and previous workers. In addition though the SEEP area covers about 170 square kilometres in total and it does

20                    incorporate some other targets which are not related to the native copper mineralization and the (inaudible) (00:55:00) discovery that was made a couple of years ago is an example of that sort of target and Xstrata is testing that target at the same time that they have been looking at this sulphide deeps. But the main aim of the program really was to look the sulphide

25                    systems beneath the native copper.

 

            BRR    Now, looking at the results you have uncovered some really exciting high-grade sulphide mineralization and that is at depth under the main Blackard resource. Could you talk us through the findings and perhaps outline some of

30                    the diagrams that have come with your announcement which might help our listeners get their head around it?

            URL     Certainly, Joel. The geology at the Blackard deposit is that it is what is called a monoclinal fold, so it is steep dipping on its western side and then it flattens over into a sort of a roll where the mineralization goes more or less parallel to

35                    the surface. So it is a wide zone of mineralization near surface and then it becomes a steep dipping zone on the west. Now what this mineralization, this intersection should I say, has indicated is that there could be a second zone of mineralization beneath the original zone. Now the original zone resources total over 40 million tons, about 46 million tons in total in the Blackard deposit

40                    and we do not know what the impact will be of this new horizon but it does look like there is a second zone of mineralization sitting probably only about 20 or 30 meters beneath the native copper mineralization.

 

            BRR    Now I know you have not had the chance or Xstrata copper has not had the

45                    chance to do any detailed metallurgical testing, but generally speaking with the sulphide zones, would you expect a better return or better recovery rates for them?

            URL     Yes, Joel. In the native copper mineralization there is a percentage, about 30% of the total copper is not available for recovery. It is not in the native copper, it is locked up in biotite. When you get into the sulphide zone, from what we have seen of it in our own drilling previously you do not have the biotite problem and recoveries could be expected to be considerably higher than the 64% we get in the native copper zone. However, I must say at this

5                      point there has been no metallurgy done by Xstrata or ourselves on this latest drilling.

 

            BRR    Now looking at the results, in the overall context of the resource of Roseby, what does it tell you about the nature of the mineralization in general terms?

10        URL     Well it is a little bit early to be precise on the interpretation of these latest intersections, but generally speaking, the mineralization at Blackard and in the other native copper deposits was originally a sedimentary copper deposit. Somewhat similar, not identical, but somewhat similar to the Zambian copper belt and this means that you get mineralization distributed over very long

15                    strike lengths in a particular stratigraphic horizon. And what this potentially means is that if the intersection that has just been achieved by Xstrata is a second horizon of sedimentary mineralization; then, it has great significance for the resource potential. However, it is a little uncertain whether that is what it means yet. It may be that it is some discordant structure not related to this

20                    sedimentary stratigraphy. Further drilling is required to determine just exactly what this mineralization means but we feel pretty encouraged by it at the moment. It is a pretty exciting discovery, we think.

 

            BRR    And finally Peter on that point of further drilling, are you aware of Xstrata’s

25                    plans for some follow-up work to identify these sulphides?

            URL     No, we are not yet Joel. Xstrata works on six monthly budgets. The first half budget was completed with this drilling. The results have only just become available and we are now waiting for Xstrata to come back with their plans for the second half of this year but we would certainly be hopeful that they will

30                    come in with a program of further drilling in this area. We think it warrants considerable additional drilling now to really investigate this intersection and what it means.

 

            BRR    Peter, thanks for those comments and thanks very much for your time today.

35        URL     Thanks very much, Joel.

 

            BRR    Now remember, if you have any questions for Peter about today’s broadcast or about Universal’s operations generally, please feel free to send through an email brr@brr.com.au. Alternatively, you can use the contact us button on the home page. Thanks for listening.

 

 

INTERVIEW CONCLUDED

 

 

 

 

Contact brr@brr.com.au for more information

 

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