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http://www.miningweekly.com/article.php?a_id=136546


High-grade uranium mineralisation prospects in Namibia
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By: Rozanne Cloete
Published on 11th July 2008

Uranium exploration company Extract Resources has announced that its chemical assay results have confirmed high-grade uranium mineralisation at its Rössing South project, in Namibia.

Following previous chemical assay results, these results have been received from holes drilled on the discovery section, 7506000 North, which are in addition to the previously reported 100 m at 265 parts per million (ppm) U3O8, and 40 m at 240 ppm U3O8.

The company states that these results confirm that high-grade uranium mineralisation is present in the alaskites beneath the Namib Desert sands.

The chemical assay and down-hole spectrometer grade information received thus far indicates that the Rössing South alaskites have comparable grades to diversified miner Rio Tinto’s Rössing mine.

The company states that many of the individual mineralised zones are grading well in excess of this, with some notable highgrade domains.

The company reported earlier this year that considerable uranium mineralisation has been returned from every drill which has been traverse-tested to date, and that the mineralisation remains open along strike to the north and south, and at depth.

“These chemical assays continue to confirm the Rössing South discovery. We will soon commence closing the drill line spacing down to 100 m, with holes on 80 m centres around the northern sections of Rössing South,” says Extract Resources MD Peter McIntyre.

He adds that exploration of the remaining 10-km Rössing South target area will be completed, and that based on the results from exploration to date, the company considers the probability of additional exploration success to be high.