Mantra Resources Limited - Additional drilling results expand new area at
Nyota
Highlights:
- New exploration drilling results have further expanded the new area of
mineralisation identified in the north-eastern part of the Nyota
Prospect, named 'Nyota NE';
- Mineralisation has been intersected at shallow depths (from surface),
including a peak intersection of 63 metres @ 559 ppm eU(3)O(8) from
9 metres depth;
- Mineralisation now covers an area of approximately two square
kilometres and remains open to the north and south; and
- Nyota NE has been drilled on a nominal 100 metre by 100 metre spacing
for inclusion in the revised Mineral Resource Estimate due in Q1 2010.
The exploration drilling has continued to focus on the significant new area of mineralisation, Nyota NE, approximately one kilometre to the northeast of the existing resource area.
The results returned from an additional 106 exploration drill holes have expanded the footprint of Nyota NE, with the mineralisation now occurring over a total area of approximately two square kilometres. Significant intersections continue to be recorded at shallow depths, up to 63 metres thick. Select intercepts include:
---------------------------------------------------------------
Hole No. Down Hole Intercept From Depth
(Down Hole)
---------------------------------------------------------------
MNEA0123 63m @ 559 ppm eU(3)O(8) 9m
---------------------------------------------------------------
MNEA0129 21m @ 781 ppm eU(3)O(8) 11m
---------------------------------------------------------------
MNEA0124 60m @ 235 ppm eU(3)O(8) 10m
---------------------------------------------------------------
MNEA0103 29m @ 290 ppm eU(3)O(8) surface
---------------------------------------------------------------
MNEA0128 10m @ 776 ppm eU(3)O(8) 15m
---------------------------------------------------------------
MNEA0206 12m @ 603 ppm eU(3)O(8) 43m
and 8m @ 732 ppm eU(3)O(8) 78m
---------------------------------------------------------------
MNEA0121 11m @ 632 ppm eU(3)O(8) 32m
---------------------------------------------------------------
MNEA0163 16m @ 368 ppm eU(3)O(8) 22m
---------------------------------------------------------------
MNEA0199 8m @ 712 ppm eU(3)O(8) 32m
---------------------------------------------------------------
MNEA0200 7m @ 745 ppm eU(3)O(8) 20m
---------------------------------------------------------------
Introduction
Mantra is pleased to report the latest set of results from the 2009 exploration drilling program at the Company's wholly owned MRP in southern
The Company has commenced a Pre-Feasibility Study ('PFS') and committed to large drilling and trenching programs that started in
Exploration Drilling
Exploration drilling at Nyota is ongoing with three air drill rigs testing the high priority and priority exploration target areas (Figure 3).
To date, the exploration drilling program has comprised some 450 aircore holes for 31,100m. This phase of the program is scheduled to be concluded by December, and will be followed by a revised global MRE anticipated to be completed in the March quarter of 2010.
Figure 1: Mkuju River Project - Location Map
Figure 2: Mkuju River Project - Airborne Radiometric Image and Prospect Locations
Exploration Drilling Results
The results of 106 new exploration holes, drilled as part of an ongoing program testing Nyota NE, approximately 1km to the northeast of the existing resource area (Figure 3) are reported herein. The results are based on down-hole gamma logging data and are presented as 'equivalent' U(3)O(8) grades or eU(3)O(8). These are the last of the results to be reported for Nyota NE from the current drilling program.
The new drilling has extended the mineralisation to the north and west, and it now occurs over a total area of approximately 2km(2) (Figure 4). Significant intersections have been recorded at shallow depths, up to 63m thick. The mineralisation remains open to the north and south and already extends beyond the original target area in a number of directions. The topography steepens considerably to the north and the majority of the drill holes on the northern-most section (outside of the original target area) did not reach the anticipated target depth. A series of deeper holes (~100m depth) are planned be drilled in 2010 to test for extensions further to the north.
Figure 3: Nyota Prospect - Priority Exploration Targets
Figure 4: Nyota NE - Exploration Drilling Plan
Consistent with the existing resource areas, the new drilling has highlighted the presence of multiple stacked horizons at Nyota NE with a number of the holes intersecting mineralisation at depth below the shallow horizon (e.g. MNAE0206 with 8m @ 732 ppm eU(3)O(8) from 78m). It is also significant that the strong mineralisation recorded in the north of the target area is not coincident with surface radiometric anomalism and as such, represents another 'blind' target (refer ASX Announcement dated 4 December 2008).
The drilling at Nyota NE has been undertaken on a nominal 100m by 100m spacing to facilitate its inclusion in the revised Mineral Resource Estimate due to be completed in the March quarter of 2010.
All significant intersections returned from the new exploration drill holes, along with the details of the collar positions and depths, are summarised in Table 1.
Table 1: Summary of New Significant Exploration Drill Intersections
-------------------------------------------------------------------------
Elev-
Drill Northing Easting ation Depth From To Interval eU(3)O(8)
Hole ID (m) (m) (m) (m) (m) (m) (m) (ppm)
-------------------------------------------------------------------------
MNEA0086 8892030 238089 710 21 Hole collapsed
-------------------------------------------------------------------------
MNEA0087 8891931 238230 710 48 7 10 3 462
-------------------------------------------------------------------------
MNEA0088 8891539 238067 734 48 Hole collapsed
-------------------------------------------------------------------------
MNEA0089 8891596 238051 732 40 7 9 2 137
-------------------------------------------------------------------------
MNEA0090 8891696 238048 728 40 Hole collapsed
-------------------------------------------------------------------------
MNEA0091 8891809 238028 726 36 Hole blocked at 12m
-------------------------------------------------------------------------
MNEA0092 8891904 238043 718 45 Hole collapsed
-------------------------------------------------------------------------
MNEA0093 8891698 238456 721 33 No significant intercepts
-------------------------------------------------------------------------
MNEA0094 8891670 238373 723 36 5 11 6 246
-------------------------------------------------------------------------
MNEA0095 8891625 238290 725 42 14 15 1 298
-------------------------------------------------------------------------
MNEA0096 8891438 238354 734 48 Hole blocked at 25m
-------------------------------------------------------------------------
MNEA0097 8891348 238458 723 39 No significant intercepts
-------------------------------------------------------------------------
MNEA0098 8891317 238339 730 45 No significant intercepts
-------------------------------------------------------------------------
MNEA0099 8891341 238235 725 54 No significant intercepts
-------------------------------------------------------------------------
MNEA0100 8892316 239682 749 58 No significant intercepts
-------------------------------------------------------------------------
MNEA0101 8892204 239657 714 45 0 2 2 144
8 24 16 262
-------------------------------------------------------------------------
MNEA0102 8892200 239747 716 45 1 21 20 194
-------------------------------------------------------------------------
MNEA0103 8892213 239567 712 50 0 29 29 290
-------------------------------------------------------------------------
MNEA0104 8892287 239516 722 60 7 21 14 171
-------------------------------------------------------------------------
MNEA0105 8892294 239592 716 50 16 27 11 263
30 32 2 133
-------------------------------------------------------------------------
MNEA0106 8892112 239605 707 45 0 14 14 156
-------------------------------------------------------------------------
MNEA0107 8892004 239650 701 30 Hole blocked at 14m
-------------------------------------------------------------------------
MNEA0108 8892003 239745 705 35 No significant intercepts
-------------------------------------------------------------------------
MNEA0109 8892010 239825 713 50 No significant intercepts
-------------------------------------------------------------------------
MNEA0110 8892095 239803 712 45 Hole blocked at 20m
-------------------------------------------------------------------------
MNEA0111 8891803 239739 705 40 No significant intercepts
-------------------------------------------------------------------------
MNEA0112 8891913 239698 712 30 Hole collapsed
-------------------------------------------------------------------------
MNEA0113 8891893 239623 706 40 Hole collapsed
-------------------------------------------------------------------------
MNEA0114 8892196 239850 747 72 No significant intercepts
-------------------------------------------------------------------------
MNEA0115 8892104 239708 716 50 12 13 1 214
-------------------------------------------------------------------------
MNEA0116 8892111 239887 735 40
-------------------------------------------------------------------------
MNEA0117 8891927 239799 724 40 18 29 11 127
-------------------------------------------------------------------------
MNEA0118 8891704 239781 714 50 No significant intercepts
-------------------------------------------------------------------------
MNEA0119 8892104 239708 715 40 No significant intercepts
-------------------------------------------------------------------------
MNEA0120 8892567 239356 740 70 33 35 2 141
40 42 2 118
-------------------------------------------------------------------------
MNEA0121 8892490 239303 726 80 32 43 11 632
-------------------------------------------------------------------------
MNEA0122 8892480 239406 725 84 38 41 3 126
-------------------------------------------------------------------------
MNEA0123* 8892402 239342 719 75 9 72 63 559
-------------------------------------------------------------------------
MNEA0124 8892383 239246 716 75 10 70 60 235
-------------------------------------------------------------------------
MNEA0125 8892501 239167 734 80 17 27 10 343
31 45 14 178
-------------------------------------------------------------------------
MNEA0126 8892582 239110 743 93 26 27 1 395
44 54 10 219
-------------------------------------------------------------------------
MNEA0127 8892590 239048 743 90 19 20 1 249
43 44 1 120
-------------------------------------------------------------------------
MNEA0128 8892507 239008 739 93 15 25 10 776
40 49 9 224
-------------------------------------------------------------------------
MNEA0129 8892496 239097 732 69 11 32 21 781
45 49 4 139
-------------------------------------------------------------------------
MNEA0130 8892409 239142 723 69 18 20 2 199
-------------------------------------------------------------------------
MNEA0131 8891970 239175 698 30 2 5 3 150
9 16 7 439
-------------------------------------------------------------------------
MNEA0132 8891900 239300 692 33 7 15 8 366
-------------------------------------------------------------------------
MNEA0133 8891607 239160 722 50 No significant intercepts
-------------------------------------------------------------------------
MNEA0134 8892537 238214 732 85 Hole blocked at 24m
-------------------------------------------------------------------------
MNEA0135 8892464 239690 766 70 No significant intercepts
-------------------------------------------------------------------------
MNEA0136 8892502 239564 766 70 No significant intercepts
-------------------------------------------------------------------------
MNEA0137 8892598 239490 772 90 Hole collapsed
-------------------------------------------------------------------------
MNEA0138 8892735 239452 778 71 No significant intercepts
-------------------------------------------------------------------------
MNEA0139 8892931 239506 776 80 No significant intercepts
-------------------------------------------------------------------------
MNEA0140 8891244 238248 725 51 No significant intercepts
-------------------------------------------------------------------------
MNEA0141 8891187 238197 742 57 No significant intercepts
-------------------------------------------------------------------------
MNEA0142 8891126 238132 747 42 Hole blocked at 13m
-------------------------------------------------------------------------
MNEA0143 8891050 238252 747 60 Hole collapsed
-------------------------------------------------------------------------
MNEA0144 8891791 238804 717 60 1 17 16 221
-------------------------------------------------------------------------
MNEA0145 8891697 238886 720 60 Hole collapsed
-------------------------------------------------------------------------
MNEA0146 8891544 238696 730 60 Hole collapsed
-------------------------------------------------------------------------
MNEA0147 8892025 238981 705 36 Hole collapsed
-------------------------------------------------------------------------
MNEA0148 8892014 239098 700 36 Hole blocked at 13m
-------------------------------------------------------------------------
MNEA0149 8892003 238900 695 38 No significant intercepts
-------------------------------------------------------------------------
MNEA0150 8892016 238598 690 42 No significant intercepts
-------------------------------------------------------------------------
MNEA0151 8891929 238706 690 45 No significant intercepts
-------------------------------------------------------------------------
MNEA0152 8892016 238798 695 42 No significant intercepts
-------------------------------------------------------------------------
MNEA0153 8892108 238305 704 37 No significant intercepts
-------------------------------------------------------------------------
MNEA0154 8892188 238307 707 56 No significant intercepts
-------------------------------------------------------------------------
MNEA0155 8892194 238197 710 50 4 18 14 267
-------------------------------------------------------------------------
MNEA0156 8892346 238196 716 60 31 37 6 190
-------------------------------------------------------------------------
MNEA0157 8892376 238299 718 55 17 19 2 123
34 38 4 187
-------------------------------------------------------------------------
MNEA0158 8892451 238104 728 75 27 28 1 254
33 39 6 664
44 54 10 173
-------------------------------------------------------------------------
MNEA0159* 8892548 238062 738 73 22 25 3 428
43 45 2 157
55 60 5 479
-------------------------------------------------------------------------
MNEA0160 8892445 238197 722 66 9 13 4 695
35 37 2 113
-------------------------------------------------------------------------
MNEA0161 8892547 238308 726 66 No significant intercepts
-------------------------------------------------------------------------
MNEA0162 8892497 238408 730 78 45 50 5 268
-------------------------------------------------------------------------
MNEA0163 8892740 238314 740 75 22 38 16 368
63 64 1 285
66 67 1 216
-------------------------------------------------------------------------
MNEA0164 8892648 238261 732 84 23 29 6 129
42 44 2 164
53 57 4 192
61 63 2 181
-------------------------------------------------------------------------
MNEA0165 8892202 239151 708 60 11 16 5 269
-------------------------------------------------------------------------
MNEA0166 8892202 239151 708 84 12 24 12 245
32 35 3 271
52 57 5 267
-------------------------------------------------------------------------
MNEA0167 8891905 239303 692 45 Hole collapsed
-------------------------------------------------------------------------
MNEA0168 8891494 238174 776 60 17 23 6 180
40 42 2 162
-------------------------------------------------------------------------
MNEA0169 8891860 238381 730 45 4 8 4 100
-------------------------------------------------------------------------
MNEA0170 8891794 238328 738 60 No significant intercepts
-------------------------------------------------------------------------
MNEA0171 8892884 239725 746 50 Hole collapsed
-------------------------------------------------------------------------
MNEA0172 8892802 239670 752 55 Hole collapsed
-------------------------------------------------------------------------
MNEA0173 8892701 239193 760 66 No significant intercepts
-------------------------------------------------------------------------
MNEA0174 8892704 238861 826 72 No significant intercepts
-------------------------------------------------------------------------
MNEA0175 8892968 238597 834 75 No significant intercepts
-------------------------------------------------------------------------
MNEA0176 8892981 238297 812 75 No significant intercepts
-------------------------------------------------------------------------
MNEA0177 8892891 238061 812 80 No significant intercepts
-------------------------------------------------------------------------
MNEA0178 8892645 238001 782 80 No significant intercepts
-------------------------------------------------------------------------
MNEA0177 8892891 238061 812 80 No significant intercepts
-------------------------------------------------------------------------
MNEA0178 8892645 238001 782 80 No significant intercepts
-------------------------------------------------------------------------
MNEA0179 8892380 237908 752 60 No significant intercepts
-------------------------------------------------------------------------
MNEA0180 8892408 237808 730 30 No significant intercepts
-------------------------------------------------------------------------
MNEA0181 8892390 237693 720 30 No significant intercepts
-------------------------------------------------------------------------
MNEA0182 8892587 237791 738 36 No significant intercepts
-------------------------------------------------------------------------
MNEA0183 8892770 237849 746 55 No significant intercepts
-------------------------------------------------------------------------
MNEA0184 8892687 237652 736 40 No significant intercepts
-------------------------------------------------------------------------
MNEA0185 8892551 237868 762 72 No significant intercepts
-------------------------------------------------------------------------
MNEA0186 8892392 238001 766 80 No significant intercepts
-------------------------------------------------------------------------
MNEA0187 8891797 239644 696 39 Hole blocked at 10m
-------------------------------------------------------------------------
MNEA0188 8891687 239603 690 33 12 19 7 124
-------------------------------------------------------------------------
MNEA0189 8891724 239493 688 33 2 11 9 316
18 20 2 156
-------------------------------------------------------------------------
MNEA0190 8891853 238502 710 36 No significant intercepts
-------------------------------------------------------------------------
MNEA0191 8891956 238506 702 36 No significant intercepts
-------------------------------------------------------------------------
MNEA0192 8891953 238401 708 40 6 8 2 152
-------------------------------------------------------------------------
MNEA0193 8891955 238292 708 35 Hole collapsed
-------------------------------------------------------------------------
MNEA0194 8891191 238004 808 72 58 60 2 140
63 66 3 144
-------------------------------------------------------------------------
MNEA0195 8891286 238074 800 81 No significant intercepts
-------------------------------------------------------------------------
MNEA0196 8891305 237962 802 75 62 64 2 161
-------------------------------------------------------------------------
MNEA0197 8891490 237798 768 78 No significant intercepts
-------------------------------------------------------------------------
MNEA0198 8892550 238600 750 100 28 31 3 186
35 37 2 131
62 64 2 157
-------------------------------------------------------------------------
MNEA0199 8892650 238665 750 102 32 40 8 712
57 67 10 198
-------------------------------------------------------------------------
MNEA0200 8892525 238500 740 87 11 15 4 453
20 27 7 745
30 33 3 176
43 52 9 283
58 62 4 101
-------------------------------------------------------------------------
MNEA0201 8892448 238296 722 30 No significant intercepts
-------------------------------------------------------------------------
MNEA0202 8892650 238425 742 93 15 18 3 208
-------------------------------------------------------------------------
MNEA0203 8892638 238537 742 96 28 32 4 448
35 37 2 114
46 48 2 141
50 51 1 164
54 56 2 339
-------------------------------------------------------------------------
MNEA0204 8892380 238389 738 84 56 61 5 123
-------------------------------------------------------------------------
MNEA0205 8892340 238305 724 72 16 18 2 223
-------------------------------------------------------------------------
MNEA0206 8892495 238600 764 94 43 55 12 603
61 62 1 262
67 73 6 303
78 86 8 732
-------------------------------------------------------------------------
Notes:
1. Uranium results are reported as parts per million (ppm) equivalent
U(3)O(8) (eU(3)O(8)) grades as derived from down-hole gamma ray
logging. The down-hole logging was undertaken by Mantra personnel
under the supervision of geophysical consultant Mr Andrew Boyd
(Integrated Geophysical Solutions), with daily QA/QC procedures in
place. Equivalent U(3)O(8) results may be affected by local
disequilibrium caused by the mobility of uranium. A disequilibrium
factor derived from all chemical assay data within the Prospect has
been applied to the eU(3)O(8) results. While local variation between
chemical assay U(3)O(8) and the gamma logging derived eU(3)O(8)
values will exist, it is considered that the eU(3)O(8) value provides
a representative estimate of the U(3)O(8) grade within the Prospect.
Further refinement of local disequilibrium factors will continue with
ongoing collection of assay and down-hole gamma ray logging data.
2. Following review of the large dataset of comparative assay and
down-hole gamma data from the 2008 drilling program, the Company is
satisfied with the veracity of the down-hole logging data.
Accordingly, the combination of open-hole drilling and down-hole
gamma logging is being used for the 2009 resource infill drilling
program. The down-hole gamma logging process is subjected to
comprehensive QA/QC procedures and analysis on an ongoing basis. In
addition, a minimum of 10% of the resource infill holes are being
drilled and sampled using the aircore method, as well as being logged
using the down-hole gamma probe. This allows a comparative study of
the eU(3)O(8) and U(3)O(8) data to be undertaken as part of the
ongoing QA/QC analysis.
3. All of the holes in the 2009 exploration/extension drilling program
are being drilled and sampled using the aircore drilling method, as
well as being logged using the down-hole gamma probe. This allows a
comparative study of the eU(3)O(8) and U(3)O(8) data to be undertaken
as part of the ongoing QA/QC analysis and any local variations in
equilibrium-disequilibrium characteristics to be identified and
adjustments to eU(3)O(8) factors to be made.
4. Co-ordinates are in UTM grid (WGS 84 Zone 37S) and have been measured
by DGPS (+/- 1m accuracy).
5. All holes were drilled vertically.
6. Drill intersections are calculated using a 100 ppm U(3)O(8) lower
cut-off and reported when grade by thickness for an intersection is
greater than 200 ppm metres.
7. Geological units are flat lying to shallowly dipping so reported
intervals approximate true widths.
8. The maximum depth of down-hole gamma logging may be less than the
'end of hole' drilling depth due to partial collapse and 'blocking'
of the hole prior to geophysical logging being completed.
9. * denotes drill holes in which mineralisation is recorded at the
'end of down-hole gamma logging' depth.
10. 10,000 ppm = 1%
Regulatory Disclosures:
For further information regarding the Mkuju River Project, including a description of Mantra's quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Mkuju River Project please refer to the technical report prepared in accordance with NI 43-101 entitled "Technical Report on the Mkuju River Project located in
Competent Person / Qualified Person Statements
The information in this release that relates to Exploration Results in
Mr Behets consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
The information in this report that relates to in-situ Mineral Resources is based on information compiled by Mr Malcolm Titley of CSA Global Pty. Ltd. He is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity 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 (The JORC Code) and is a "Qualified Person" under National Instrument 43-101 - 'Standards of Disclosure for Mineral Projects'. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release.
Mr Titley consents to the inclusion of such information in this Report in the form and context in which it appears.
Forward Looking Statements
This report contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, objectives, performance, outlook, growth, cash flow, earnings per share and shareholder value, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses, property acquisitions, mine development, mine operations, drilling activity, sampling and other data, grade and recovery levels, future production, capital costs, expenditures for environmental matters, life of mine, completion dates, uranium prices, demand for uranium, and currency exchange rates. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast' and similar expressions. Persons reading this report are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company's Annual Information Form.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to update or revise any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.
For further information: Robert Behets, Joint Managing Director, Phone: +61 8 9322 6322; Matthew Yates, Joint Managing Director, Phone: +61 9322 6322
Share this article