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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