Category: Uncategorized
- Published: 29 November -0001
Extract Resources announces chemical assay results confirm high grade uranium mineralisation at Rossing South
Extract Resources (\\\"the Company\\\"), (TSX:EXT;ASX:EXT), a Uranium exploration company with projects in Namibia, Africa, today announced that recently received chemical assay results confirm high grade uranium mineralisation at Rossing South.
Further chemical assay results have now been received from holes drilled on the discovery section, 7506000 North, which are in addition to the previously reported 100m @ 265 ppm and 40m @ 240 ppm U3O8. These results confirm that high grade uranium mineralisation is present in the alaskites beneath the Namib Desert sands.
The chemical assay and down hole spectrometer grade information received thus far indicates that the Rossing South alaskites have comparable grades (~300 ppm U3O8) to Rio Tinto\\\'s Rossing Mine. The assay results available from section 7506000 North are indicating multiple mineralised zones that bulk out to a true width of approximately 150 metres grading (on average) 300 ppm U3O8. Many of the individual mineralised zones are grading well in excess of this, with some notable high grade domains.
Standout chemical assay intersections, not previously reported include:
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Hole ID From To Mineralised zones
(m) (m) (U3O8)
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RDD002 171 320 149m @ 474 ppm
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including 171 188 17m @ 1,899 ppm
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and also including 260 281 21m @ 1,368 ppm
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RRC004A 103 247 144m @ 143 ppm
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including 147 165 18m @ 353 ppm
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and also including 180 192 12m @ 362 ppm
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277 282 5m @ 1,038 ppm
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No results from diamond core hole RDD002 have been previously released as the hole became blocked after drilling was completed; this prevented the downhole spectrometer crew from surveying this hole.
Of note is that RC hole RRC004A ended in high grade mineralisation, from 277 to 282m, 5m @ 1,038 ppm U3O8.
Significantly, hand held spectrometer readings taken from the one metre bulk RC samples indicate that broad zones of uranium mineralisation continue to be intersected within uraniferous alaskite. As previously reported, considerable uranium mineralisation has been returned from every drill traverse tested to date. The mineralisation remains open along strike to the north and south, and at depth.
Peter McIntyre, Managing Director of Extract Resources, said today \\\"These chemical assays continue to confirm the Rossing South discovery. We will soon commence closing the drill hole line spacing down to 100 metres with holes on 80 metre centres around the northern most sections of Rossing South. This is expected to demonstrate geological and grade continuity of the main zones of uranium mineralisation identified thus far.\\\"
He said, \\\"Exploration on the remaining 10 kilometre Rossing South target area remains to be completed. Based on the exceptional results from exploration completed to date, the Company considers that there is a very high probability of additional exploration success.\\\"
About Extract
Extract Resources is an Australian-based uranium exploration company whose primary focus is in the African nation of Namibia. The Company\\\'s principal asset is its 100%-owned Husab Uranium Project which contains three known uranium targets: Ida Dome; Hildenhof; and Rossing South. Rossing South represents the Company\\\'s first new discovery in this area Extract is listed on the ASX and the TSX under the ticker symbol \\\"EXT\\\". For more information on Extract visit www.extractresources.com
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Martin Spivey, who is a Member of The Australasian Institute of Mining and Metallurgy and Mr Andrew Penkethman who is a Member of the Australian Institute of Geoscientists. Mr Spivey and Mr Penkethman are both full time employees of the Company. Mr Spivey and Mr Penkethman have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the \\\'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves\\\'. Mr Spivey and Mr Penkethman consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.
Chemical assay results refers to analyses on RC chips and NQ drill core by Genalysis Laboratory Services, Perth. Uranium assays were carried out by Four Acid Digest/MS (Method AT/MS). Genalysis are an independent quality assured laboratory operating under ISO/IEC 17025. Reference to hand held spectrometer refers to use of a Company owned Exploranium, GR-135 Plus, hand held spectrometer.
To view Appendix 1 and Appendix 2, Husab Project - Rossing South Prospect
please visit:
http://files.newswire.ca/476/ExtractAppendix12.pdf
APPENDIX 3:
TABLE OF NEW RESULTS
Husab Project - Rossing South Prospect: RC drilling down hole spectrometer results. Uranium intersections greater than 0.1 kg/t (100 ppm) U3O8 over drill hole intersection widths of not less than 2 metres down hole width:
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Hole_id Northing Easting Azi_True Dip From To Width Grade Grade
UTM UTM (deg) (deg) (m) (m) (m) (kg/t (lb/t
WGS84 WGS U3O8) U3O8)
33S 84 33S
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RDD002 7506000 506480 270 -60 118 120 2 0.185 0.408
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171 320 149 0.474 1.044
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Including 171 188 17 1.899 4.188
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Including 205 216 11 0.547 1.206
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Including 260 281 21 1.368 3.016
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Including 306 320 14 0.105 0.232
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RRC004A 7506000 506400 270 -60 103 247 144 0.143 0.315
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Including 103 108 5 0.155 0.341
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Including 116 123 7 0.301 0.664
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Including 131 134 3 0.251 0.553
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Including 147 165 18 0.353 0.778
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Including 180 192 12 0.362 0.798
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Including 201 203 2 0.167 0.369
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Including 218 221 3 0.300 0.661
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Including 245 247 2 0.254 0.560
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277 282 5 1.038 2.289
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Notes:
- Analyses on RC chips and NQ drill core by Genalysis Laboratory
Services, Perth. Uranium assays were carried out by Four Acid
Digest/MS (Method AT/MS).
- Metal values (U) have been converted to oxide values (U3O8) using a
factor of 1.179, and expressed as kg/t U3O8. Note that 100 ppm U3O8
is equivalent to 0.1 kg/t U3O8, which is 0.01% U3O8.
- Assays expressed as kg/t U3O8 have been converted to lb/ tonne by
multiplying by 2.2046.
- Intersection widths are estimated to be approximately true width.
SOURCE: Extract Resources
Peter McIntyre, Managing Director; Richard Henning, Investor Relations, This email address is being protected from spambots. You need JavaScript enabled to view it.
