Hi again Col . Fair questions. B4 I give a view , M72 has been the subject of comparison/comment with Rossing South/Husab . There is a great document: "HUSAB NATIONAL INSTRUMENT 43-101 TECHNICAL REPORT HUSAB URANIUM PROJECT - MAY 2011 PROJECT UPDATE " pepared by Coffey Mining Pty Ltd that will provide you with an unparalleled range of information to gain an insight into deposits of this nature . It is well worth a read ...while we wait . LOL "I'm surprised at 2 statements in the latest quarterly :
1) "Success (of the drilling program) would be an extended area of mineralization of a few metres depth at 150g/tonne" (a bit paraphrased)"
IMO this is very wise underpromising , because even the great Husab deposit started off very slowly in the early explorationstage .To wit : "The Husab Project area contains primary uranium mineralisation hosted in uraniferous leucocratic granites (alaskites) within the highly prospective Central Zone of the Damara Orogeny. The mineralised alaskites occur mainly within the Rössing Formation but locally also intrude the Khan and Chuos Formations. In addition to primary alaskite-hosted uranium mineralisation, the tenement holding also hosts occurrences of secondary uranium vanadate (carnotite). Regional magnetic data show that the mineralised rock units can be traced beneath cover. Drilling completed at the Husab Uranium Project has confirmed the existence of high grade uranium mineralisation beneath these cover sequences for bedrock occurrences and for secondary calcrete uranium mineralisation within the cover rocks.
The exploration model was verified in the field in late 2007 when three holes on line 7,506,000mN, intersected anomalous uranium mineralisation associated with zones of smoky quartz in altered leucogranite, beneath approximately 40m of overburden and leached saprolite. All three holes recorded uranium values of at least 100ppm U3O8. Follow up angled RC drilling in late 2007 intersected wide zones of alaskite with significant zones of uranium mineralisation. Chemical assay results in early 2008 confirmed the new alaskite hosted uranium discovery. Discovery intersections included: 100m at 265ppm U3O8 and 40m at 240ppm U3O8 with both holes ending in mineralisation." Source : 43-101 REPORT
2) expected depth of mineralization is below 50m (again paraphrased)" Col8
Again Col ,IMO Husab provides the clues :
"The Husab Project area contains primary uranium mineralisation hosted in uraniferous leucocratic granites (alaskites) within the highly prospective Central Zone of the Damara Orogeny. The mineralised alaskites occur mainly within the Rössing Formation but locally also intrude the Khan and Chuos Formations.(DEEPER & BELOW THE WATER TABLE ??)
In addition to primary alaskite-hosted uranium mineralisation, the tenement holding also hosts occurrences of SECONDARY uranium vanadate (carnotite)." weathered and concentrated close to the surface by processes such as capillarity ). Hope that helps. I think they are being very responsible in the statements that they have made .I certainly don't want them to overpromise and under deliver . DYOR Q
MLS Price at posting:
1.9¢ Sentiment: LT Buy Disclosure: Held
