Significant uranium zones intersected from recent drilling
Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of copper and uranium prospects in Namibia, has received further assay results from its 49% owned Husab uranium project in Namibia, showing significant zones of uranium mineralisation.
Results of the additional three diamond-drill holes include:
HHD012 41 metres @ 0.361 kg/t U3O8
HHD005 (3 zones) 8 metres @ 2.316 kg/t U3O8
Plus 6 metres @ 0.890 kg/t U3O8
Plus 14 metres @ 1.063 kg/t U3O8 (incl. 11 metres at 1.337 kg/t)
Note: 1.0 kg/t = 1,000 ppm = 0.1%
Kalahari Director Peter McIntyre said: "These high-grade results are exceptional, given that the evaluation of the Ida Central target is still at an early stage. Drilling to date has been over three sections on 160m centres. Strike length tested to date is only 320 metres of an alaskite body which is over four kilometres in strike extent.
"These results follow those from the first three holes announced in July, which were also very encouraging and typical of this class of deposit, represented by the nearby Rossing, Valencia and Goanikontes deposits. These three holes intersected 10.25m at 0.264 kg/t U3O8; 2.0m at 1.019 kg/t U3O8; 10.0m at 0.335 kg/t U3O8 and 4.5m at 1.246 kg/t U3O8, including 0.5m at 9.597 kg/t."
DETAILS
Assays from three additional diamond drill holes (HDD005, HDD012 and HDD013) have been returned from drilling on the Ida Central section of the Ida Dome alaskite target within the Husab joint venture (Extract Resources Namibia (Pty) Ltd owns the remaining 51%). The remaining assays from hole HDD004 have also been returned. HDD005 and HDD012 have produced outstanding intersections of primary uranium mineralization, adding support to the high grade intersection previously reported from HDD011 (4.5 metres at 1.246 kg/t U3O8). Drill hole HDD012 was collared from the same drill platform as HDD011, but was angled at -75 degrees from horizontal, compared to - 45 degrees for HDD011. The two zones reporting from holes 11 and 12 appear to be parallel features rather than continuous, and both are within 100 metres of the surface.
Drill hole HDD005 was collared on Section 50160 North, which is 160 metres to the north of any previously reported intersection. Potentially economic grades of primary uranium mineralization have now been returned from a total strike length of some 320 metres of an alaskite body which is over four kilometres in strike extent, and showing uranium mineralization at surface over most of this distance.
The Ida Dome alaskitic granite remains one of a number of known targets within the Husab joint venture. Previous drilling by other explorers has not been extensive along the Ida Dome trend, although the existence of uranium mineralization has been known for some decades. The current drilling on the Ida Central section of the Ida Dome alaskite is the first drilling to take place along this particular section of the target zone.
Drilling at Ida continues to intersect anomalous copper mineralization associated with schist bands internal to, and on alaskite contact zones. The best copper intersection reported from the current drill holes is three metres at 0.98 per cent. copper from 81 metres in hole HDD013.
Diamond drilling on the Ida Central Zone is continuing with two rigs on site.
Uranium intersections greater than 0.1 kg/t U3O8 over drill hole intersection widths of not less than two metres from the latest assays, are tabled below:
Hole_id Northing Easting Azi_ Dip From To Width Grade (m) (m) grid (deg) (m) (m) (m) kg/t (deg) U3O8
• Analyses on half cut NQ (50mm dia) core by Genalysis Laboratory Services, Perth.
• Uranium assays were carried out by Four Acid Digest/MS (Method AT/MS).
• Metal values (U) have been converted to oxide values (U3O8) using a factor of 1.179, and expressed as kg/t U3O8. Note that 100 ppm U3O8 is equivalent to 0.1 kg/t U3O8.
• True widths are estimated to range from 70% to 100% of intersection thickness depending on the drill hole dip. In the case of HDD012, true width is estimated to be approximately 70% of intersection thickness. Intersections from HDD005 are estimated to be approximately true width.
Further runs of cut half core are currently being prepared for shipping to Johannesburg for sample preparation and assaying in Australia, and additional results will be released when they become available.
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Further enquiries:
Contacts
Kalahari Minerals plc Tel: +61 (0) 8 9316 1214
Peter McIntyre, Director
Corporate Synergy Plc Tel: +44 (0)20 7448 4400
Olly Cairns
St Brides Media & Finance Ltd Tel: +44 (0)20 7242 4477
Isabel Crossley/Hugo de Salis
The information in this report that relates to exploration results is based on information compiled by Mr Martin Spivey, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Spivey is a consultant to the Company and is employed by Silverlode Pty Ltd. Mr Spivey has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and Part two of the AIM Guidance Notes for Mining, Oil and Gas Companies. Mr Spivey consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
This information is provided by RNS The company news service from the London Stock Exchange
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