Two diamond drills have been testing the first panel of the Ida Dome alaskite body selected for drilling on the basis of favourable surface radiometrics. Total metreage up to 20 September 2006 has been 4,730 metres in 15 holes. Some 480 metres of strike of a historically undrilled section of the Ida alaskite has now been drilled at a nominal 160 metre drill spacing. The Ida Dome alaskite body currently being targeted is known by ground surveys to be continuously mineralized over its entire four kilometre strike length within the current joint venture area. Results from the drilling to date, including intersections of up to 8 metres at 2.316 kg/t U3O8, 14 metres at 1.063 kg/t U3O8, 9 metres at 1.077 kg/t U3O8, 4.5 metres at 1.246 kg/t U3O8, and 41 metres at 0.361 kg/t U3O8, indicate that despite the current low drill hole density, the Ida Dome alaskites clearly have economic potential. Refer to previous announcements for full details.
The Ida Dome alaskitic granite remains one of a number of known targets within the Husab joint venture. Ground radiometric surveying of airborne anomalies has continued over the past several months. Results from this work have continued to provide encouragement that a significant number of uranium bearing alaskites and granitic pegmatites are present within the Husab Joint Venture area, many of them showing potentially economic grades at surface, and most of them never before drilled (reference map at end of report). The main target areas identified to date are (excluding the Ida Dome alaskite currently being drilled):
Hildenhof Zone
This is a south east trending zone of uranium bearing pegmatites located on the eastern extension of the Goanikontes Dome, and adjoining Bannerman Resources Ltd's "East Anomaly". This target area is located approximately 13 kilometres west of the site of current drilling activities. At this locality anomalous uranium is developed over 2 kilometres of strike within alaskitic pegmatites showing uranium values up to 0.7 kg/t eU from surface radiometric readings. It is also likely that further extensions to the Goanikontes Dome uranium bearing stratigraphy is present under soil cover in this area.
Rossing South Zone
This target area is located approximately 5 kilometres south of the Rossing Mine in an area which is interpreted to contain the folded extensions of the stratigraphy hosting the Rossing Mine alaskites. The target stratigraphy and anomalous uranium values have been confirmed in the field, however most of the prospective stratigraphy is concealed by soil cover. The stratigraphic package identified as potentially hosting uranium mineralization is interpreted to extend for at least 15 kilometres within the Husab Joint Venture ground, virtually all of it unexposed, and previously unexplored.
Ida East Anomaly
This high tenor anomaly is located approximately 1 kilometre south east of the area currently being drilled, and, based on ground radiometric data, extends for over 800 metres of strike length over widths of between 100 and 200 metres. This anomaly is interpreted to represent the eastern limb of a synformal structure, while the current area being drilled represents the western limb. This is a similar situation to that which obtains at the Rossing South Zone discussed above, and at the Rossing Mine itself. Surface uranium readings of up to 0.34 kg/t eU have been recorded from this zone.
Welwitchia Zone
This small alaskite body with dimensions of approximately 300 by 100 metres is located near the northern closure of the Ida Dome, where it is seen to be intruding grey granite. Surface radiometric readings of up to 0.34 kg/t eU have been recorded from this area, making it potentially of interest as a satellite body.
In addition to exploration for primary granite and pegmatite hosted uranium deposits, the known presence of secondary (carnotite) uranium mineralization in calcretized alluvial grits within the Husab JV area has been investigated further. In an attempt to locate concealed palaeochannels within alluvial fan areas, lines of Ground Penetrating Radar (GPR) are currently being trialled. This method appears to be working well to date. Surface grits in the Welwitchia area were explored for secondary uranium in the late 1970's, with some success. Although the main body of mineralization identified at the time is located just outside of the current Joint Venture area, the alluvial systems which host the identified secondary mineralization trend within it. This work is currently on-going.
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