Kalahari Minerals Plc / Ticker: KAH / Index: AIM / Sector:...

Kalahari Minerals Plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration

19 July 2006
Kalahari Minerals Plc (‘Kalahari’ or ‘the Group’)

Positive Assay Results from Husab Uranium Project, Namibia

Kalahari Minerals Plc, the AIM listed mining exploration and evaluation group with a portfolio of copper and uranium prospects in Namibia, has received positive assay results from the first four diamond-drill holes completed at its 49% owned Husab uranium project in Namibia. The results reinforce earlier drill and spectrometer survey data that the area has significant uranium potential.

Assay highlights include:
• 4.5m @ 1.246 kg/t U3O8, including 0.5m @ 9.597 kg/t
• 2.0m @ 1.019 kg/t U3O8
• 10.0m @ 0.335 kg/t U3O8
• 10.25m @ 0.264 kg/t U3O8

Kalahari Minerals CEO Peter McIntyre said: “The Board’s confidence in the Husab uranium project is increasing as the on-going drill programme continues to produce positive results. These results indicate that the geology is similar to the other major uranium deposits in the region and we expect to see further positive indicators as the two-rig 8,000 meter drill programme continues.”

The results are taken from a drilling programme being conducted on the Company’s 49% owned Husab Project (EPL3138), a joint venture with Extract Resources Namibia (Pty) Ltd, situated in a known uranium province strategically located between the Rossing granite (alaskite) hosted uranium mine (Rio Tinto 68.6%), and the palaeochannel-hosted Langer Heinrich deposit, currently being developed by Paladin Resources Ltd. The uranium bearing granite dykes of the Ida Dome were first explored by a subsidiary of Anglo American Corporation of South Africa in the late 1970’s, however limited exploration has been completed in the intervening period.

The initial section drilled of the Ida Dome alaskite at the Husab Project, covered 160 metres of strike extent of a continuous granitic body up to four kilometres long. The results represent the first drilling on the Ida Central section of the anomaly and are encouraging from only a limited number of holes. The uranium grades are generally typical of this class of deposit, represented by the nearby Rossing, Valencia and Goanikontes deposits, while a narrow higher grade zone which intersected 0.5m @ 9,597 ppm U3O8 was somewhat unexpected.

Drilling on the Ida target commenced early April 2006 and at the end of June 2006, 2,348m of the total 8,000m first phase drilling programme had been completed in eight holes. Two drill rigs are currently working at the site and geological logging and spectrometer sampling of drill core indicates that uranium mineralisation continues to be intersected.

The information in this announcement as it related to geology, geochemistry and geophysics, has been prepared and reviewed by Mr. M Spivey who is a competent person as described in Appendix 5A to the ASX Listing Rules and Part two of the AIM Guidance Notes for Mining, Oil and Gas Companies.

Interesting to see overseas effect ( if any ) on EXt tomorrow