Energy Metals Limited ABN 63 111 306 533 Level 2 18 Kings Park Road West Perth WA 6005 PO Box 1033 West Perth WA 6872 Western Australia Telephone: (08) 9322 6904 Facsimile: (08) 9321 7950 Email: [email protected] Web: www.energymetals.net 12 January 2007 Company Announcements Office Australian Stock Exchange Limited Exchange Centre Level 4, 20 Bridge Street Sydney NSW 2000 Via electronic lodgement Dear Sir/Madam, Please find the following announcement for immediate release to the market. This announcement is made on behalf of the Bigrlyi Joint Venture partners being Energy Metals Limited (53.3%), Paladin Resources Limited (41.7%) and Southern Cross Exploration NL (5%). Yours faithfully, LINDSAY DUDFIELD Director. Energy Metals Limited ABN 63 111 306 533 Level 2 18 Kings Park Road West Perth WA 6005 PO Box 1033 West Perth WA 6872 Western Australia Telephone: (08) 9322 6904 Facsimile: (08) 9321 7950 Email: [email protected] Web: www.energymetals.net 12 January 2007 Company Announcements Office Australian Stock Exchange Limited Exchange Centre Level 4, 20 Bridge Street Sydney NSW 2000 Via electronic lodgement HIGH GRADE INTERCEPT FROM BIGRLYI - 1.5m @ 3.12% U3O8 Energy Metals, as manager of the Bigrlyi Joint Venture, advises that geochemical assays from the first batch of samples from recent drilling at Bigrlyi have been received. Although the intervals are not completely identical, the geochemical assay results (U3O8 values) generally compare well with uranium values estimated from downhole gamma logging (eU3O8 values) announced to ASX on 24 November 2006 (refer table below). DEPOSIT HOLE FROM (m) INTERCEPT U3O8 % U3O8 lbs/t V2O5 % eU3O8 INTERCEPT* % B06001 ASSAYS PENDING 2.45m @ 1.01 from 161.2m B06003 166.5 175.5 5.0m @ 6.5m @ 0.14 0.16 3.09 3.53 0.20 0.43 4.8m @ 0.25 from 165.3m 5.7m @ 0.26 from 174.3m B06004 319.0 1.0m @ 0.13 2.87 0.10 0.4m @ 0.20 from 134.8m A15 B06006 280.0 3.5m @ 0.55 12.13 0.20 2.0m @ 0.59 from 279.5m A7 B06023 ASSAYS PENDING 1.45m @ 0.35 from 165.2m B06025 124.0 6m @ 0.14 3.09 1.18 5.65m @ 0.23 from 122.2m B06017 179.5 215.0 1m @ 4m @ 0.11 0.44 2.43 9.70 0.37 1.03 3.75m @ 0.45 from 213.5m B06020 incl. 158.5 159.5 8.5m @ 1.5m @ 1.13 3.12 24.91 68.78 0.67 1.28 5.95m @ 1.10 from 157.7m B06021 ASSAYS PENDING 1.9m @ 0.16 from 215.7m B06052 incl. 43.0m 66.0m 74.0m 2m @ 14m @ 3m @ 0.55 0.10 0.39 12.13 2.20 8.60 0.11 0.06 0.23 2.9m @ 0.45 from 39.7m 2.95m @ 0.32 from 71.7m B06053 93.0m 3m @ 0.09 1.98 0.38 1.95m @ 0.19 from 91.6m B06056 25.0m 1m @ 0.15 3.31 0.04 0.9m @ 0.20 from 23.5m A4 B06057 93.0m 1m @ 0.23 5.07 0.08 1.15m @ 0.34 from 92.2m *eU3O8 Intercepts announced to ASX 24 November 2006. Assays based on core sampled at 0.5m intervals and analysed by ALS Chemex (Brisbane). U analysed by XRF; V by XRF (<1000 ppm) and ICP (>1000 ppm). In total 49 RC and diamond holes were drilled at Bigrlyi in the December 2006 quarter with geochemical assays from 22 holes received to date. It is anticipated that results from the remaining 27 holes will be received by early February 2007, with the resource base to be upgraded once all geochemical assays have been received. Drill testing of additional targets is expected to resume in the June 2007 quarter. LINDSAY DUDFIELD Executive Director. About the Bigrlyi Project The Bigrlyi project is located in the Northern Territory approximately 350km northwest of Alice Springs and is a joint venture with Paladin Resources’ subsidiary Valhalla Uranium (41.7%) and Southern Cross Exploration (5%). The project was subject to significant exploration in the period 1974 to 1982 and is characterised by high uranium grades, accompanied by significant levels of vanadium. Current resources at Bigrlyi total 11.4 Mlbs U3O8 and 13.9 Mlbs V2O5 (0.5 kg/t U3O8 cutoff), with most of the resources within 100m of the surface (refer ASX announcement dated 25 July 2006 for further details). Declaration The information in this announcement that relates to mineral resources is based on information compiled by Lorry Hughes, BSc AusIMM, who has more than 5 years relevant experience. Mr Hughes is the Exploration Manager of Energy Metals Limited, Manager of the Bigrlyi Joint Venture, and is a full time employee of that company. Mr Hughes has sufficient experience relevant to the assessment of this style of mineralisation to qualify as a Competent Person as defined in the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves – The JORC Code” and consents to the inclusion of the information in the report in the form and context in which it appears.
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