Outstanding Infill Drilling Assay Results & New Zone of Mineralisation at Husab Uranium Project
Kalahari Minerals plc, the AIM listed resource company, is pleased to provide an update, published by Extract Resources Ltd (`Extract' or `the Company'), in which Kalahari's subsidiary, Kalahari Uranium Limited, holds a 41.06% interest, regarding exceptional infill drilling assay results and the emergence of a new zone of uranium mineralisation at Extract's world-class Husab Uranium Project (`Husab').
Kalahari's Executive Chairman, Mark Hohnen, said, "As Extract approaches its production phase at Zones 1 and 2, these further exceptional assay results give additional credence to Husab's ability to host a truly world-class operating mine in the near future. The identification of high grade intercepts from infill drilling on Zones 1 and 2, including an outstanding 68 metres grading 5,767ppm of U3O8, will enable accurate definition of the optimum mine plan, further supporting the robust economics of the profitable, low risk, bulk tonnage, open pit mine, with 20+ years mine life, which Extract is establishing.
"The new zone of mineralisation further compounds the evidence of the significant potential for Husab to accommodate multiple mining operations, providing considerable additional standing to the project as a whole, particularly as Extract approaches its production phase on Zones 1 and 2. Importantly, this emerging mineralised zone remains open down dip and along strike, and Extract will now initiate an additional drilling campaign. We expect this drilling to considerably increase the known dimensions of this zone, providing significant further upside to the entire Husab project and establishing it, in Kalahari's opinion, as one of the most important uranium discovery in recent decades."
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