| Wed 18 Nov 2009, 12:55 | | EXT - Extract Resources Limited - Rossing South Exploration results further |
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JSE
EXT
EXT - Extract Resources Limited - Rossing South Exploration results further
substantiate the significance of Husab Uranium Project
Extract Resources Limited
Registration No. ABN 61 057 337 952
Registered as an external company in Namibia
ISIN Code: AU000000EXT7
NSX Share Code: EXT
Rossing South Exploration Results further substantiate the significance of Husab
Uranium Project
Extract Resources Limited (ASX/TSX/NSX:EXT), a uranium exploration and
development company with projects in Namibia, today announced an exploration
update on the large, high grade, granite hosted uranium system at Rossing South,
part of EXT`s world-class Husab Uranium Project.
Highlights:
* Chemical assay results confirm the continuity of uranium mineralisation at
Rossing South, as the infill drilling moves the Inferred Resource closer to
`Measured` and `Indicated` status.
* All zones of uranium mineralisation still open at depth and along strike,
in at least one direction.
* 11 drill rigs operating on site, with more rigs being sourced to accelerate
exploration and resource definition efforts.
* A RadonX exploration programme to commence over the entire Rossing South
area of cover to delineate additional uranium anomalies.
* Further results assessed in early 2010; EXT continuing to progress the
Rossing South Feasibility Study (due for completion in mid-2010).
The return of consistent zones of high grade, granite hosted uranium
mineralisation from Rossing South continues to confirm the global significance
of this massive mineralised system.
Extract Resources Chairman, Mr. Steve Galloway, said: "Exceptional chemical
assay results reinforce the view that Rossing South is one of the most
significant uranium discoveries ever made. The company remains committed to
defining the full potential of Rossing South with extensions to known resources
being defined, along with exciting new discoveries."
"A programme of radon emanometry using a proprietary technique (RadonX) to
further quantify the enormous potential of this project, will be completed over
the next two months. RadonX has been shown to be effective in the Rossing South
environment and should accelerate exploration progress. Results will be assessed
in the New Year with additional rigs sourced to test the new targets."
The Company is also progressing the Feasibility Study for Rossing South, a key
step in bringing the project into development in a timely and efficient way," Mr
Galloway concluded.
Chemical assay results not previously reported from recent drilling at Rossing
South include:
Hole ID From To Mineralised zones
(m) (m) (U3O8)
Zone 1
RDD078 336 367 31m @ 1578ppm
RRC449 88 225 137m @ 464ppm
RRC456 157 243 86m @ 480ppm
RRC461 61 131 70m @ 741ppm
RRC503 175 277 104 @ 485ppm
RRC504 108 145 37 @ 1247ppm
Zone 2
RDD059 393 411 18m @ 3028ppm
RDD075 371 417 46m @ 934ppm
RRC497 140 203 63m @ 924 ppm
Steve Galloway
Chariman
Windhoek, 18 November 2009
Registered Office
Swakop Uranium (Pty) Ltd
3 Schutzen Street
Windhoek
Namibia
Sponsor
IJG Securities (Pty) Ltd
Member of the NSX
100 Robert Mugabe Avenue
P O Box 186, Windhoek, Namibia
Registration No. 95/505
Date: 18/11/2009 12:55:01 Produced by the JSE SENS Department.
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