Uranium Exploration hits 'significant' silver 12:26, Wednesday,...

Uranium Exploration hits 'significant' silver
12:26, Wednesday, 28 June 2006

Sydney - Wednesday - June 28: (RWE Australian Business News) -
Uranium Exploration Australia (ASX:UXA) reports a significant silver
discovery at the Company's 100% owned Sloanes Hill project, South
Australia.
Drilling results from one diamond drill hole and eight reverse
circulation holes drilled to date confirm the spot sampling report to
the ASX dated 20 June 2006 indicating the presence of shallow and
widespread silver mineralisation.
Located 30km south of the Prominent Hill copper-gold proposed
development by Oxiana along a parallel east-west structure, the silver
mineralisation discovered by UXA is contained in near surface
horizontal dolomitic silts, pebbly sands and carbonaceous shales of
Lower Cretaceous Age.
Preliminary drill core inspections indicate the silver
mineralisation is readily mineable.
Significant silver assay results include;
* 15m @ 31g/t from 29m to 44m depth from surface including 7m @
58 g/t from 31 to 38m, including one 2m thickness of 123 g/t silver and
including 4m @ 21 g/t that occurs from 40m to 44m.
* Lower grades of silver also exist at depth in three percussion
holes located 3km north and 6km northwest of DDH SH-1 in similar age
rocks.
ENDS

Copyright © 2006 RWE Australian Business News. All rights reserved.