URANIUM MINERALISATION DEFINED OVER ELEVEN KILOMETRES AT MILE 72, NAMIBIA. Metals Australia Ltd (‘Metals’) is pleased to announce the following results from the Mile 72 uranium project: · Exploration has confirmed uranium mineralisation over a strike length of 11 kilometres, including strong evidence of both primary and secondary uranium mineralisation. · Metals has identified uranium-bearing alaskites, the same host rock found at RTZ’s Rossing mine. · The near surface calcrete-hosted mineralisation is well suited to rapid and cost effective exploration. · A second phase of detailed magnetics, radiometrics and sampling covering more than 360 line kilometres, is well advanced. The first phase of a systematic exploration programme of geophysical and geochemical sampling has been completed at the Mile 72 project (100% MLS) in Namibia. Reconnaissance exploration by Metals has previously generated results of up to 0.28% U3O8 from calcrete sampling. The project shows strong potential to host substantial nearsurface pedogenic uranium deposits, as well as deeper alaskite hosted primary mineralisation. The Mile 72 uranium project lies within a small depression on the central Namibian coast and is largely covered by surficial aeolian sand and alluvial gravels of varying thickness. These sands and gravels mask the radiometric and geochemical signature of the subsurface uranium mineralisation. 21 June 2007 The Manager Company Announcements Office Australian Securities Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000
MLS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
