ann today , page-3

Found this on another forum for those interested (would have posted the name but the title is actually a profanity on hot copper)

Harlee

Extract ticks boxes at Rossing South
Charlotte Dudley
Tuesday, 13 May 2008

SPECTRAL logging analysis from the Rossing South project in Namibia has delivered “a number of significant uranium intersections”, according to Perth-based Extract Resources.

The Namibian-focused uranium explorer said down hole spectral logging from recently completed drilling at Rossing South revealed equivalent uranium results of more than 2000 parts per million, bolstering the company’s hunch of high-grade mineralisation.

Significant intersections at Rossing South include 167m at 229 parts per million equivalent uranium, 90m at 341ppm and 81m at 536ppm. Another 19m section returned a grading of 2139ppm equivalent uranium.

While the spectral logging results remain provisional until results from chemical assaying are available, Extract business development manager Richard Henning was optimistic about the potential at Rossing South.

“This is confirmation,” Henning told MiningNews.net.

He said the latest intersections supported earlier project drilling results and gave Extract a clearer indication of the extent of mineralisation at Rossing South.

“I think it’s a case now of ticking a number of boxes,” he said. “We have a good idea of the length of strike that we’ve drilled and it’s over 3.6 kilometres. We know the width is at least 180 meters and we know the depth, which is down to 190 [metres].

“Now if you take width times length times depth, and multiply that by a grade, then you get an indication of the potential reserves that you’re looking at and that’s quite significant.

“It gets us into the realms of what [Rio Tinto’s nearby] RÖssing mine has been doing for the last 30 years.”

Henning said results from chemical assays are expected within the next 2-3 months, depending on laboratory capacity. Meanwhile, Extract will continue further drilling to firm up its resources.