tibbs, page-9

Here Mr Tibbs, read this report, I think they come up with average grade of 280ppm and this is, as you said, initial drilling in the footwall and only covered 25%.


Garnet Valley shaping up nicely for Extract
Kate Hayc ock
Tuesday, 4 September 2007
EXTRACT Resources has released initial assay results from drilling
at its Garnet Valley prospect in Namibia, with results confirming
historical drilling at the project.
The initial results come from the first drilling at the
prospect since drilling by Anglo American in the area in
the 1970s, and Extract said the results confirmed the
width and the tenor of the uranium mineralisation
delineated by that exploration work.
Better results from the reverse circulation drilling
program included 55m at 226ppm uranium from 51m,
23m at 365ppm uranium from 66m, and 11m at
643ppm uranium from 54m.
The assays averaged about 280ppm uranium over 1km, with an average width
of 16m, and Extract said today the results came from the foot wall area and
only covered some 25% of its target zone at the prospect.
The company also said it anticipates better results and a widening of the
mineralised zone from drilling at the hanging wall position, which historically
recorded higher grade results.
The Garnet Valley prospect - part of the company's Husab project in the
African nation - is a major target for Perth-based Extract, and the company has
one RC rig and two diamond drill rigs operating at the valley.
The company also has a third diamond rig at its Ida Central prospect and
additional rigs secured to start drilling at Husab in October.
The additional drill rigs, which will be track-mounted rather than skid-mounted,
will also target areas within Garnet Valley that have been proved difficult to
access.
The rigs will also free up a lighter-duty rig to return to the Rossing South
prospect, 5km south of Rio Tinto's 68%-owned Rossing mine.
Last week Extract released scout drilling results from the Rossing South
prospect, with anomalous uranium identified in the alaskite granites over 160m
at the target out of a potential strike length of 15km.
Three of the six shallow holes returned uranium values of at least 100ppm, the
company said, with a peak assay of 188ppm recorded from the eastern-most
hole.
Extract is also targeting additional uranium mineralisation at the Uis project
area where airborne magnetic and radiometric surveys have shown a strong
uranium channel anomaly.
Shares in the company were last trading at 68c, up 3c this mornin