ENCOURAGING START TO 2007 DRILLING PROGRAM AT BIGRLYI
Energy Metals is pleased to advise that drilling at its 53.3% owned Bigrlyi project has
intersected significant extensions to the current uranium deposits, including
intercepts of 9.25m @ 0.12% U3O8 and 4.15m @ 0.25% U3O8 at Anomaly 4.
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. Metallurgical
test work conducted to date has indicated recoveries of up to 98-99% of the uranium
and up to 70% of the vanadium using acid leach and fine grinding.
KEY paragragh is:
Importantly it should be noted that 13 of the 18 holes were drilled outside of current
resource envelopes, reinforcing the potential for the current drilling program to
lead to a significant increase in the resource base at Bigrlyi.
Further downhole probe results will be released as they become available.
HOLD on TIGHT to your SCX shares.., undervalued to the NPV of 12.5c minimum as it is... upgrade will bring further upside.
SCX
southern cross exploration nl
