Ann: Reply to ASX Query , page-2

Stonehenge Metals receives ASX price query, points to Daejon Project results
Tuesday, May 21, 2013 by Proactive Investors


Stonehenge Metals receives ASX price query, points to Daejon Project results

South Korea focused Stonehenge Metals (ASX:SHE) has been queried by the ASX to explain a 76 per cent rise in the share price.

While Stonehenge said in a statement it could not offer any information not already announced, beyond preliminary hand held XRF results, released on 1 May from the Daejon Project.

These result did indicate a mineralised zone of uranium that may be larger than first thought with significant vanadium grades as well.

Assay results are still pending, combined with reappraisal of the existing significant uranium resource and possibility of vanadium credits could augure well for project economics.

Results from the first hole of a 12 hole diamond drilling programme at the Daejon Project had an intercept of 69 metres true width of mineralised zone averaging 262ppm uranium and 4117ppm vanadium.

When the vanadium is converted to uranium this shows a combined grade of 1754ppm equivalent total uranium at highest reading.


http://www.proactiveinvestors.com.au/companies/news/43514/stonehenge-metals-receives-asx-price-query-points-to-daejon-project-results-43514.html