Old 09-17-2009, 04:15 AM
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Default Navigator Resources- Independent Resource for Cummins REEs

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Independent Resource for Cummins Range Rare Earth Project
Exploration Update | Operations Update
* Independent resource estimate confirms previous internal estimate
* Significant exploration upside potential
* Next step – independent project valuation Navigator Resources Limited (“Navigator”)
(ASX: NAV) is pleased to announce that an independent resource estimate has been completed at its Cummins Range rare earth oxide (REO)-uranium-phosphate project in the East Kimberley region of Western Australia (see Figure 1).
This updated resource estimate takes into account the 1m split sample assays that were not available at the time of the previous internal estimate which was announced on 12 March 2008. There has been no further drilling at Cummins Range since March 2008.
The initial drilling programme, completed in 2007, consisted of 93 RC drill holes for 9,293m over an area of approximately 500m (north-south) by 400m (east-west). This area represents only a small portion of the Cummins Range diatreme and there is excellent potential to expand the size of the resource with further exploration. A northwesterly trend to higher grade mineralisation has been noted within the main zone of mineralisation. This trend remains open in the northwest portion of the resource (see Figure 2) and is an obvious area to test for extensions to the existing resource during the next drilling programme.
The REO-uranium-phosphate mineralisation is up to 50m in thickness and occurs in a sub-horizontal geometry within a deeply weathered regolith which is developed over carbonatite and pyroxenite rocks. The deposit is comparable in style to the Mt Weld deposit in WA, and contains a similar mix of light rare earth oxides and low thorium levels.
The updated Inferred Resource for Cummins Range, at varying cut-off grades, is shown below in Table 1:
The previous resource estimate, at a 1.0% REO cut-off grade, was 3.55 Mt at 2.0% TREO for 69.2 kt TREO, 11.2% P2O5 and 216 ppm U308. The current estimate has thus yielded a slightly higher (+3.5%) TREO tonnage and essentially confirms the previous estimate which was based on the 4m composites.
Being mindful of the importance of rare earth metals to high technology industrial applications and the global supply dynamics, the Company will now move to obtain an independent project valuation for Cummins Range before committing itself to any further field activities or asset level transaction.
Managing Director
For Further Information:
Please direct any queries, or requests for further information, to:
David Hatch
Email: [email protected]

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