yellowcake good for west australian

This article is not new but it gives you an idea of MARENICA potential.... looks good IMHO... :)

Yellowcake good for West Australian

Friday, 12 January 2007

LATEST results from West Australian Metals' Marenica uranium project in Namibia have confirmed widespread, near-surface mineralisation with possible extensions outside the main target area.



Assays from Phase 2 of the trench sampling project at Marenica found broad zones of uranium mineralisation with over 100m width and "significant" grades.

Uranium results include 130m averaging 113 parts per million including 5m at 235ppm, 105m averaging 352ppm from 5m including 5m at 1005ppm and 60m averaging 514ppm from 10m including 5m at 1005ppm.

The Phase 2 results follow the identification of broad zones of "significant" mineralisation identified in Phase 1, which was conducted in November last year.

West Australian said the results from the both Phase 1 and 2 of the programs indicate that the highest uranium grades are located in the most northwestern and southwestern trenches.

"The company continues to evaluate the project with further prospecting and processing of the recently completed airborne radiometric survey currently underway to assist in planning of a drill program in the first half of this year and delineation of new targets," acting chief executive Leon Reisgys said.

"Updates on these programs will be released during the March quarter, with the company confident of further positive news from these activities."

West Australian's exploration program was boosted late last year by a successful share placement that raised $1.9 million.

Namibia is home to Rio Tinto's Rossing mine, which has produced around 70,000 tonnes of uranium since 1976, and Paladin Resources' Langer Heinrich mine, has a projected production of around 2.6 million pounds per year over a 20-year mine life.


http://www.miningnews.net/storyview.asp?StoryID=71490