"One exploration RC rig is completing drilling 2.4km south of Zone 2. The first holes completed have intersected uraniferous alaskite beneath the cover sequence (Figure 1). Hand held spectrometer results indicate that these results exceed those returned from the Zone 1 discovery holes. However, follow up angled drilling is required to determine the significance of the regional exploration holes and enable the Company to gain an increased understanding of these encouraging early results.
Ongoing exploration drilling will continue to test the prospective stratigraphic trend that hosts the Rossing Mine and Rossing South deposits. Drill lines on 1.6km line spacing with holes on 100m centres will continue to be drilled on the remaining 7km of the 15km trend.
The high resolution helimag survey of the Rossing South corridor has been completed. Once processed data has been received the Company will incorporate this information into the geological model. The improved aeromagnetic imagery over the area is expected to aid exploration target generation beneath the Namib Desert and better define structural trends within the known Zone 1 and Zone 2 resource areas."
EXT Price at posting:
$5.46 Sentiment: Buy Disclosure: Held
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