SOUTH PERTH, Western Australia, Sept. 2 /CNW/ - Extract Resources ("the
Company"), (TSX:EXT;ASX:EXT), a Uranium exploration company with projects in
Namibia, Africa, today announced further strike extensions and the return of
wide zones of uranium mineralization, at Rossing South.
Recently received chemical assay data continues to highlight the
continuity of high grade, alaskite hosted uranium mineralization in both
Zone 1 and Zone 2.
Chemical assays not previously reported include:
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Hole ID From To Mineralised zones
(m) (m) (U3O8)
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Zone 1 - RRC042 86 181 95 m @ 780 ppm
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including 153 169 16 m @ 2,892 ppm
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Zone 2 - RRC050 112 270 158 m @ 552 ppm
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including 144 226 82 m @ 942 ppm
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Zone 2 - RRC051 163 309 146 m @ 388 ppm
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including 223 246 23 m @ 1,135 ppm
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Uranium mineralization at Zone 1 has been extended to 1.8 kilometers of
strike with mineralization still open along strike to the south and at depth.
Three large capacity RC rigs are dedicated to drilling out this zone on a
100 x 100 metre spacing to define an initial resource by the first quarter
2009. Hand held spectrometer readings taken from the one metre bulk RC samples
continue to indicate that broad zones of strong uranium mineralisation are
being intersected within uraniferous alaskite.
Following the definition of the initial Rossing South resource, full
scale feasibility work will be undertaken to determine optimum mining and
processing options. Preliminary metallurgical and base line environmental
monitoring is being undertaken to continually progress the project in tandem
with the resource definition drilling in progress.
Preliminary metallurgical test work and mineralogical work from core hole
RDD002 indicates favorable mineralogy for a conventional acid leach processing
plant, such as that in use at the Rossing Mine (Rio Tinto 69%). The dominant
uranium mineral is uraninite occurring, as discrete grains, on grain
boundaries and in veinlets and fractures.
Future analysis on Rossing South samples is to be predominantly by
pressed pellet XRF. This will result in an increased sample turn around time
which will both reduce the sample backlog and cope with the accelerated
drilling rates, at Rossing South.
Peter McIntyre, Managing Director of Extract Resources, said today
"Rossing South is the first new alaskite hosted uranium discovery in Namibia
in many years and is shaping up as the most significant discovery since the SJ
deposit at the Rossing Mine."
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.
