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Old 09-09-2010, 02:06 AM
Sparty Sparty is offline
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Default Extract: one of the world's largest uranium deposits just got bigger

September 9th, 2010
Drilling has now shown that the geological structure hosting the uranium mineralisation at Rossing South is consistently mineralised over a strike length of nine kilometres.

Zones 1 and 2 at Rossing South, which are the subject of the Definitive Feasibility Study (DFS) which is currently in progress, together make up the northern 5.5 kilometres of the total identified mineralised strike length. Approximately six kilometres of the highly prospective Rossing South Anticline remain to be drill tested.

CHEMICAL ASSAYS CONFIRM THE EMERGENCE OF ZONE 5 AT
HUSAB'S RoSSING SOUTH


Highlights:
  1. Emerging Zone 5 at Husab's Rossing South: Chemical assay results including 29 metres assaying 1653 ppm U3O8 in RSRC002a
  2. Continuous mineralisation at Zone 5 has now been identified over a strike length of 1.7 kilometres and remains open along strike and down dip.
    • Granite hosted uranium mineralisation now confirmed over nine kilometres of strike of the Rossing South Anticline with another six kilometres to be explored.
  • Definitive Feasibility Study targeted for completion in Q4 of calendar 2010. Early stage planning for Mining Licence application has commenced.
  • Comminution test work commenced on a bulk sample of mineralised alaskite material from Rossing South.
  • Continued drilling focussed on upgrading early mined material to a "Measured" Resource classification.
  • Further exploration potential within Husab Uranium Project still to be tested with an exploration drilling program continuing with a number of new targets planned for testing in 2H, 2010.
  • 17 drill rigs currently in operation.
September 9, 2010: Following the resource update announced on 10 August, 2010, which confirmed Rossing South as one of the world's largest uranium deposits, Extract Resources Limited (ASX/TSX/NSX:EXT is pleased to provide an update on progress at the Husab Uranium Project in Namibia.

Summary of Extract Resources
by www.australian-shares.com

 

Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice.

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