news just keeps getting better

I have had a thorough look at the drill results today, and the news just keeps on getting better & better.

The pic on page two reveals a lot.

Firstly it needs to be pointed out that they are now out of the flat plain where Anomaly A lies, and are drilling into the low hills that hold the Northerns targets & deposits. So they are drilling along the valleys first, hence the narrow drilling ranges.

However the pic on page 2 clearly shows that they are surrounded by exposed alaskite, which so far is all mineralised, and is quite extensive. So the potential for even further increases is very strong.

The other point they mention, and which is show in the pics, is that these results are from drilling "along strike" and not "in-fill" drilling... as such they are extending the deposit. In the case of Oshivelli, they have extended it further north, and for Onkelo, they have extended it further South ... quite clearly these two will join up soon, forming one very large deposit.

Some other points:

The resource upgrade was going to come out in the September quarter. Things have changed somewhat. They are hitting much more uranium than anticipated, and so they are now going to release a new JORC by end July, and then update that again later with these results & current and future drilling.

Drilling is flat strap, with 4 rigs on these two deposits. So management sees this extension to Anomaly A as the priority drill target, as this will directly impact on the economics of the FS underway.

On the drill results, they are very good, and are open down dip too. A nice mix of lower & higher grades. Looks to me like the general average of grades in both Oshivelli & Onkelo is higher than the 206ppm in Anomaly A, which is great. As the deposit grows, we dont really want to see the grades keep dropping.

Looks to me like they should get a JORC of around 140-150mlbs in the next upgrade, with much more to come. So it is on track to be an extremely significant uranium deposit. My opinion is that 200mlbs is achievable on the combined Anomaly A/Oshivelly/Onkelo deposit.

So we have a lot to look forward to in the near future
**BFS results
**New drilling results
**JORC increase

So as long as the DOW & XAO dont tank, we should be in for some excitement in the next 4 weeks!

:)