Extract Resources - Rossing South - A new zone of mineralisation
SOUTH
Highlights:
- A new zone of uranium mineralisation has been discovered on the
western limb of the Rossing South antiform.
- Zones 1 and 2 - Infill drilling continues to return high grade
intersections.
Significant mineralisation has been encountered in 2 adjacent RC holes drilled on the western side of the dome structure south of Zone 2. It is in interpreted to dip shallowly to the west. A diamond drill hole (RDD082) is being drilled to confirm this orientation.
The core recovered so far shows that the banding and boundaries are at low angles to the core axis consistent with a shallow westerly dip; further, the hole has already intersected alaskite containing uranium mineralisation.
The mineralisation discovered to date at Zones 1 and 2 lies predominantly on the eastern limb of the Rossing South antiform.
Chemical assay results not previously reported from recent drilling at Rossing South include:
------------------------------------------------------
Hole ID From To Mineralised zones
(m) (m) (U(3)O(8))
------------------------------------------------------
New Zone
------------------------------------------------------
R3RC0001 157 212 55m @ 1474 ppm
------------------------------------------------------
R3RC0002 104 157 53m @ 1616 ppm
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Other Results
------------------------------------------------------
Zone 1
------------------------------------------------------
RDD037 435 522 87m @ 978 ppm
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RDD062 49 142 93m @ 619 ppm
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RRC408 140 185 45m @ 995 ppm
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RRC433 139 186 47m @ 1130 ppm
------------------------------------------------------
Zone 2
------------------------------------------------------
RDD048 348 361 13m @ 1712 ppm
------------------------------------------------------
RRC413 264 292 28m @ 528 ppm
------------------------------------------------------
The broad zones of strong uranium mineralisation from Rossing South continues to increase the known size of this massive mineralised system. The expanded drilling programme has 10 drilling rigs currently on location, 5 diamond rigs and 5 RC.
Extract Resources Chairman,
"The Company intends to add further value to the project through ongoing exploration and resource definition drilling aimed at defining the full potential of the project. As stated recently, we believe a total resource of 500 Mlbs is achievable from targets already defined. The Company is now well advanced with the Rossing South Feasibility Study on Zones 1 and 2 and the project is shaping up to be one of the world's largest uranium mines, capable of producing 15 Mlbs of U3O8 per year."
About Extract
Extract Resources is an Australian-based uranium exploration and development company whose primary focus is in the African nation of
Rossing South Exploration Update
New Zone
As previously reported, a RC rig was completing a line of drilling south of the Zone 2 line (Figure 1). This drilling was aimed at following up on a zone of strongly anomalous uranium mineralisation defined by reconnaissance exploration drilling, a further 400 metres to the south. Some exceptional results have been returned, as indicated by chemical assay of the drill samples, with multiple mineralised zones intersected. Results returned thus far, include: 55m @ 1474ppm and 53m @ 1616ppm. These high grade intersections were returned from pegmatitic leucogranites (alaskite) with abundant smoky quartz and clumpy biotite.
It was necessary to position a diamond rig to determine the stratigraphic orientation and dip of the intersections. This delayed the release of the chemical assay results as the company could not be confident that the results were accurate given the lack of geological knowledge in the exploration zone. The recovered core shows that the banding and boundaries are at low angles to the core axis consistent with a shallow westerly dip. Accordingly, the intercepts are likely to be 65% to 75% of true thickness.
General Exploration
Extensive exploration potential still remains to be tested throughout the Husab Project with priority given to Rossing South. The recently acquired helimag data captured on a 50 metre line spacing reiterates the exploration potential at Rossing South concealed by the Namib Desert (Figure 1). Uranium mineralisation defined at Rossing South thus far has been intersected mainly in the east limb of the Rossing South antiform (Figure 2). With the discovery of the mineralised zone in the west limb position, there will be further exploration along strike to the south and in the true Rossing position located about 2 km further west.
Two RC rigs and one diamond rig are engaged in drilling exploration holes south of Zone 2. The geological sequences observed at Zones 2 and 3 are remarkably similar to each other.
Resource Definition Update
Seven rigs are dedicated to resource drilling at Rossing South. Two RC rigs at Zone 1 and one RC rig at Zone 2 are drilling infill holes on 50m spaced sections, to increase the level of confidence in the material currently classified as Inferred. Two diamond rigs are drilling resource extension and definition holes at Zone 2. Two further diamond rigs are drilling 6 holes at Zone 2 for geotechnical purposes.
Chemical assay results and handheld spectrometer readings from Zone 1 and Zone 2 continue to confirm the presence of broad, high grade alaskite-hosted uranium mineralisation. Further drilling at Zone 1 and Zone 2 in the coming months is expected to extend the known dimensions of mineralisation. Infill drilling is expected to increase the level of confidence in the known mineralisation.
Two RC and one diamond rig are currently undertaking exploration drilling south of Zone 2. Additional rigs are periodically on site for short periods involved in civil geotechnical and hydrogeological investigation for the PFS.
A full list of recently received and previously unreported chemical assay results is shown in Appendix 2.
Appendix 1
To see Appendix 1, please see URL below:
http://files.newswire.ca/476/Extract-Appendix-1-Husab.doc
APPENDIX 2:
TABLE OF NEW RESULTS
Husab Project - Rossing South Prospect: RC and drill core chemical assay
results. Uranium intersections greater than 0.1 kg/t (100 ppm) U(3)O(8)
over drill hole intersection widths of not less than 2 metres down hole
width:
-------------------------------------------------------------------------
Northing Easting
UTM UTM Azi_ Grade Grade Assay
WGS84 WGS84 True Dip From To Width (kg/t (lb/t Met-
Hole_id 33S 33S (deg) (deg)(m) (m) (m) U(3)O(8)) U(3)O(8)) hod
-------------------------------------------------------------------------
R3RC0001 7500000 504000 270 -60 157 212 55 1.474 3.249 AT/MS
-------------------------------------------------------------------------
R3RC0002 7500000 504100 270 -60 104 157 53 1.616 3.562 AT/MS
-------------------------------------------------------------------------
187 192 5 0.440 0.969
-------------------------------------------------------------------------
211 220 9 0.192 0.424
-------------------------------------------------------------------------
RDD037 7506602 506956 270 -60 332 358 26 0.775 1.708 AT/MS
-------------------------------------------------------------------------
Including 332 348 16 0.704 1.551
-------------------------------------------------------------------------
and 353 358 5 1.743 3.842
-------------------------------------------------------------------------
410 425 15 0.285 0.629
-------------------------------------------------------------------------
435 522 87 0.978 2.156
-------------------------------------------------------------------------
Including 435 468 33 0.286 0.630
-------------------------------------------------------------------------
and 473 511 38 1.871 4.125
-------------------------------------------------------------------------
and 518 522 4 1.050 2.314
-------------------------------------------------------------------------
RDD048 7504002 505944 270 -60 309 315 6 0.423 0.932 AT/MS
-------------------------------------------------------------------------
332 335 3 0.226 0.499
-------------------------------------------------------------------------
348 361 13 1.712 3.774
-------------------------------------------------------------------------
373 400 27 0.703 1.551
-------------------------------------------------------------------------
Including 373 378 5 1.155 2.546
-------------------------------------------------------------------------
and 385 400 15 0.864 1.904
-------------------------------------------------------------------------
RDD051 7505404 506407 255.5 -60 357 364 7 1.096 2.415 AT/MS
-------------------------------------------------------------------------
373 375 2 1.316 2.902
-------------------------------------------------------------------------
432 441 9 0.444 0.978
-------------------------------------------------------------------------
RDD052A 7503899 505408 90 -60 100 102 2 0.145 0.320 AT/MS
-------------------------------------------------------------------------
303 308 5 0.336 0.742
-------------------------------------------------------------------------
RDD054 7503903 506205 270 -60 268 273 5 0.126 0.277 AT/MS
-------------------------------------------------------------------------
302 304 2 0.505 1.112
-------------------------------------------------------------------------
333 365 32 0.618 1.364
-------------------------------------------------------------------------
Including 333 353 20 0.641 1.412
-------------------------------------------------------------------------
and 359 365 6 1.127 2.485
-------------------------------------------------------------------------
422 429 7 0.116 0.256
-------------------------------------------------------------------------
438 446 8 0.129 0.283
-------------------------------------------------------------------------
RDD056 7503803 506205 270 -60 272 291 19 0.174 0.384 AT/MS
-------------------------------------------------------------------------
347 352 5 0.240 0.529
-------------------------------------------------------------------------
366 374 8 0.168 0.369
-------------------------------------------------------------------------
409 444 35 0.394 0.868
-------------------------------------------------------------------------
RDD057 7503503 506206 270 -60 422 431 9 0.132 0.290 AT/MS
-------------------------------------------------------------------------
RDD060 7505103 506307 270 -60 194 196 2 0.119 0.262 AT/MS
-------------------------------------------------------------------------
207 211 4 0.157 0.347
-------------------------------------------------------------------------
268 270 2 0.119 0.262
-------------------------------------------------------------------------
288 299 11 0.359 0.791
-------------------------------------------------------------------------
305 311 6 0.406 0.894
-------------------------------------------------------------------------
330 343 13 0.516 1.138
-------------------------------------------------------------------------
RDD061 7506901 506654 270 -60 26 31 5 0.154 0.339 AT/MS
-------------------------------------------------------------------------
71 88 17 2.245 4.949
-------------------------------------------------------------------------
104 120 16 0.703 1.551
-------------------------------------------------------------------------
146 152 6 0.168 0.370
-------------------------------------------------------------------------
RDD062 7506752 506677 270 -60 49 142 93 0.619 1.364 AT/MS
-------------------------------------------------------------------------
Including 49 64 15 0.306 0.674
-------------------------------------------------------------------------
and 69 77 8 0.210 0.462
-------------------------------------------------------------------------
and 85 142 57 0.892 1.966
-------------------------------------------------------------------------
203 215 12 0.441 0.972
-------------------------------------------------------------------------
222 230 8 0.209 0.461
-------------------------------------------------------------------------
RDD063 7506602 506585 270 -60 57 62 5 0.736 1.622 AT/MS
-------------------------------------------------------------------------
83 106 23 0.675 1.487
-------------------------------------------------------------------------
Including 83 88 5 0.835 1.841
-------------------------------------------------------------------------
and 94 106 12 0.939 2.069
-------------------------------------------------------------------------
RDD064 7505405 506186 270 -60 96 112 16 0.906 1.998 AT/MS
-------------------------------------------------------------------------
RDD076 7504901 506205 270 -60 379 381 2 0.274 0.603 AT/MS
-------------------------------------------------------------------------
397 404 7 0.178 0.392
-------------------------------------------------------------------------
439 468 29 0.306 0.676
-------------------------------------------------------------------------
RRC399 7506301 505954 270 -60 79 84 5 0.922 2.032 AT/MS
-------------------------------------------------------------------------
119 125 6 0.104 0.229
-------------------------------------------------------------------------
181 186 5 0.202 0.446
-------------------------------------------------------------------------
202 212 10 0.576 1.269
-------------------------------------------------------------------------
221 265 44 0.301 0.664
-------------------------------------------------------------------------
RRC400 7506303 506005 270 -60 142 146 4 0.142 0.314 AT/MS
-------------------------------------------------------------------------
169 206 37 0.237 0.522
-------------------------------------------------------------------------
234 252 18 0.248 0.548
-------------------------------------------------------------------------
281 315 34 0.410 0.904
-------------------------------------------------------------------------
325 343 18 0.772 1.702
-------------------------------------------------------------------------
355 362 7 0.535 1.179
-------------------------------------------------------------------------
373 387 14 0.530 1.169
-------------------------------------------------------------------------
RRC407 7505953 506256 270 -60 140 142 2 0.221 0.486 AT/MS
-------------------------------------------------------------------------
RRC408 7505952 506356 270 -60 103 126 23 0.299 0.660 AT/MS
-------------------------------------------------------------------------
140 185 45 0.995 2.193
-------------------------------------------------------------------------
211 213 2 0.285 0.629
-------------------------------------------------------------------------
259 306 47 0.505 1.113
-------------------------------------------------------------------------
RRC410 7506051 506307 270 -60 56 61 5 0.279 0.614 AT/MS
-------------------------------------------------------------------------
76 104 28 0.296 0.653
-------------------------------------------------------------------------
110 112 2 0.809 1.784
-------------------------------------------------------------------------
RRC413 7501204 505306 270 -60 207 225 18 0.357 0.788 AT/MS
-------------------------------------------------------------------------
231 239 8 0.455 1.003
-------------------------------------------------------------------------
264 292 28 0.528 1.164
-------------------------------------------------------------------------
Including 264 279 15 0.390 0.860
-------------------------------------------------------------------------
and 284 292 8 1.081 2.383
-------------------------------------------------------------------------
311 318 7 0.205 0.453
-------------------------------------------------------------------------
323 332 9 0.105 0.232
-------------------------------------------------------------------------
338 346 8 0.148 0.326
-------------------------------------------------------------------------
RRC415 7501204 505506 270 -60 178 182 4 0.134 0.296 AT/MS
-------------------------------------------------------------------------
224 238 14 0.153 0.336
-------------------------------------------------------------------------
269 272 3 0.151 0.333
-------------------------------------------------------------------------
318 320 2 0.219 0.482
-------------------------------------------------------------------------
347 352 5 0.507 1.117
-------------------------------------------------------------------------
RRC416 7501200 505600 270 -60 270 278 8 0.113 0.250 AT/MS
-------------------------------------------------------------------------
300 307 7 0.240 0.530
-------------------------------------------------------------------------
337 340 3 0.141 0.310
-------------------------------------------------------------------------
RRC421 7501602 505206 270 -60 134 136 2 0.356 0.785 AT/MS
-------------------------------------------------------------------------
141 160 19 0.187 0.412
-------------------------------------------------------------------------
294 296 2 0.127 0.281
-------------------------------------------------------------------------
RRC422 7501602 505305 270 -60 142 151 9 0.660 1.456 AT/MS
-------------------------------------------------------------------------
223 261 38 0.189 0.417
-------------------------------------------------------------------------
276 290 14 0.119 0.263
-------------------------------------------------------------------------
RRC423 7501602 505405 270 -60 217 229 12 0.647 1.427 AT/MS
-------------------------------------------------------------------------
300 321 21 0.196 0.433
-------------------------------------------------------------------------
330 335 5 0.118 0.260
-------------------------------------------------------------------------
348 351 3 0.243 0.535
-------------------------------------------------------------------------
368 379 11 0.222 0.490
-------------------------------------------------------------------------
RRC424 7501600 505500 270 -60 287 297 10 0.338 0.744 AT/MS
-------------------------------------------------------------------------
320 324 4 0.149 0.328
-------------------------------------------------------------------------
378 382 4 0.136 0.299
-------------------------------------------------------------------------
RRC425 7501600 505600 270 -60 284 299 15 0.183 0.404 AT/MS
-------------------------------------------------------------------------
307 314 7 0.129 0.285
-------------------------------------------------------------------------
328 360 32 0.196 0.431
-------------------------------------------------------------------------
RRC426 7501600 505700 270 -60 307 326 19 0.164 0.361 AT/MS
-------------------------------------------------------------------------
332 354 22 0.243 0.536
-------------------------------------------------------------------------
RRC427 7500800 504900 270 -60 149 153 4 0.129 0.285 AT/MS
-------------------------------------------------------------------------
328 339 11 0.139 0.305
-------------------------------------------------------------------------
352 359 7 0.128 0.281
-------------------------------------------------------------------------
383 385 2 0.197 0.435
-------------------------------------------------------------------------
391 399 8 0.116 0.255
-------------------------------------------------------------------------
RRC428 7500800 505000 270 -60 145 150 5 0.227 0.500 AT/MS
-------------------------------------------------------------------------
189 198 9 0.695 1.532
-------------------------------------------------------------------------
238 240 2 0.562 1.239
-------------------------------------------------------------------------
247 252 5 0.291 0.641
-------------------------------------------------------------------------
RRC429 7500800 505100 270 -60 128 140 12 0.678 1.494 AT/MS
-------------------------------------------------------------------------
236 238 2 0.292 0.645
-------------------------------------------------------------------------
253 255 2 0.161 0.355
-------------------------------------------------------------------------
RRC431 7506053 506405 270 -60 49 61 12 0.141 0.310 AT/MS
-------------------------------------------------------------------------
74 115 41 0.542 1.195
-------------------------------------------------------------------------
Including 74 93 19 0.520 1.147
-------------------------------------------------------------------------
and 99 115 16 0.749 1.652
-------------------------------------------------------------------------
152 154 2 0.624 1.376
-------------------------------------------------------------------------
169 201 32 0.452 0.997
-------------------------------------------------------------------------
222 225 3 0.701 1.545
-------------------------------------------------------------------------
239 244 5 0.216 0.477
-------------------------------------------------------------------------
252 255 3 0.197 0.434
-------------------------------------------------------------------------
291 295 4 0.177 0.391
-------------------------------------------------------------------------
RRC433 7506150 506350 270 -60 105 110 5 0.254 0.560 AT/MS
-------------------------------------------------------------------------
139 186 47 1.130 2.492
-------------------------------------------------------------------------
RRC434 7506150 506450 270 -60 70 77 7 0.199 0.438 AT/MS
-------------------------------------------------------------------------
86 97 11 0.358 0.790
-------------------------------------------------------------------------
190 215 25 0.544 1.199
-------------------------------------------------------------------------
234 257 23 0.791 1.743
-------------------------------------------------------------------------
293 300 7 0.440 0.969
-------------------------------------------------------------------------
RRC436 7506250 506400 270 -60 74 81 7 0.218 0.480 AT/MS
-------------------------------------------------------------------------
176 178 2 0.169 0.372
-------------------------------------------------------------------------
223 231 8 0.379 0.835
-------------------------------------------------------------------------
241 245 4 0.126 0.277
-------------------------------------------------------------------------
251 255 4 0.361 0.797
-------------------------------------------------------------------------
260 265 5 0.183 0.404
-------------------------------------------------------------------------
RRC437 7506250 506500 270 -60 67 126 59 0.683 1.506 AT/MS
-------------------------------------------------------------------------
Including 67 108 41 0.703 1.550
-------------------------------------------------------------------------
and 113 126 13 0.874 1.927
-------------------------------------------------------------------------
161 213 52 0.586 1.291
-------------------------------------------------------------------------
Including 161 188 27 0.636 1.402
-------------------------------------------------------------------------
and 193 213 20 0.659 1.454
-------------------------------------------------------------------------
222 225 3 0.169 0.373
-------------------------------------------------------------------------
RRC439 7506350 506450 270 -60 51 71 20 1.236 2.724 AT/MS
-------------------------------------------------------------------------
278 280 2 0.743 1.638
-------------------------------------------------------------------------
RRC440 506550 7506350 270 -60 78 120 42 0.159 0.351 AT/MS
-------------------------------------------------------------------------
Including 78 87 9 0.187 0.413
-------------------------------------------------------------------------
and 96 101 5 0.172 0.380
-------------------------------------------------------------------------
and 108 120 12 0.316 0.697
-------------------------------------------------------------------------
152 192 40 0.322 0.710
-------------------------------------------------------------------------
Including 152 170 18 0.529 1.165
-------------------------------------------------------------------------
and 177 192 15 0.212 0.467
-------------------------------------------------------------------------
RRC441 7506303 506106 270 -60 73 75 2 0.190 0.420 AT/MS
-------------------------------------------------------------------------
Notes:
- Analyses on RC chips and 1/2 NQ drill core by Genalysis Laboratory
Services, Perth. Uranium assays were carried out by Four Acid
Digest/MS (AT/MS) or Pressed Pellet X-ray fluorescence (XRFPP).
- Metal values (U) have been converted to oxide values (U(3)O(8))
using a factor of 1.179, and expressed as kg/t U(3)O(8). Note that
100 ppm U(3)O(8) is equivalent to 0.1 kg/t U(3)O(8), which is
0.01% U(3)O(8).
- Assays expressed as kg/t U(3)O(8) have been converted to lb/ tonne by
multiplying by 2.2046.
- Intersection widths are estimated to be approximately true width.
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Neal Culpan, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Culpan is a full time employee of the Company. Mr Culpan has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Culpan consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Reference to hand held spectrometer results refers to use of a Company owned Exploranium, GR-135 Plus or Terraplus RS-125, hand held spectrometer. The uranium values are recorded by placing the unit on the bulk RC sample bags or individual trays of drill core and expressed as parts per million (ppm) eU which is equivalent to ppm U. Results from these units provide an indication of uranium mineralisation; they may also be affected by uranium mobility and disequilibrium. These factors should be considered when interpreting eU information whilst waiting for confirmation chemical assay results.
For further information: Steve Galloway, Chairman; Richard Henning, Investor Relations, [email protected]
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