some information from the archivesACCLAIM URANIUM NL9 November...

some information from the archives

ACCLAIM URANIUM NL

9 November 1998
The Company Announcements Office
Australian Stock Exchange Ltd
10th Floor, 20 Bond St.
SYDNEY NSW. 2000

Special Announcement

PURCHASE OF LANGER HEINRICH URANIUM DEPOSIT, NAMIBIA FOR $800,000.

Acclaim Uranium NL has purchased the Langer Heinrich Uranium Deposit, subject to due diligence investigations and approval of the Minister of Mines & Energy for (Aust)$800,000.

In 1980, Gencor the operator manager of the Langer Heinrich Project estimated an "insitu bore-hole indicated ore reserve of 55.06 million tonnes averaging 0.40 kg U3O8/tonne using a specific density of 2.15 and a lower cut of 0.1 kg U3O8/tonne"; a total of 22,000 tonnes of contained U3O8. Using a lower cut of 0.3 kg /t U3O8 the deposit was estimated to comprise "27 million tonnes averaging 0.576 kg /t U3O8" (15,840 tonnes of U3O8).

......

Langer Heinrich is a major asset acquisition for Acclaim Uranium NL. The importance of this resource lies not only in the high-grade cores in Details 1& 2, which will enhance the economics of shallow open pit mining in the early years, but also the huge total size which gives a life of operations in excess of 10 years.