Extract Resources – Massive uranium zones continue to be intersected at Rossing South
Extract Resources, a Uranium exploration company with projects in Namibia, Africa, today announced further strike extensions and the return of wide zones of uranium mineralization, at Rossing South.
Recently received chemical assay data continues to highlight the continuity of high grade, alaskite hosted uranium mineralization in both Zone 1 and Zone 2.
Uranium mineralization at Zone 1 has been extended to 1.8 kilometers of strike with mineralization still open along strike to the south and at depth. Three large capacity RC rigs are dedicated to drilling out this zone on a 100 x 100 metre spacing to define an initial resource by the first quarter 2009. Hand held spectrometer readings taken from the one metre bulk RC samples continue to indicate that broad zones of strong uranium mineralisation are being intersected within uraniferous alaskite.
Following the definition of the initial Rossing South resource, full scale feasibility work will be undertaken to determine optimum mining and processing options. Preliminary metallurgical and base line environmental monitoring is being undertaken to continually progress the project in tandem with the resource definition drilling in progress.
Preliminary metallurgical test work and mineralogical work from core hole RDD002 indicates favorable mineralogy for a conventional acid leach processing plant, such as that in use at the Rossing Mine (Rio Tinto 69%). The dominant uranium mineral is uraninite occurring, as discrete grains, on grain boundaries and in veinlets and fractures.
Future analysis on Rossing South samples is to be predominantly by pressed pellet XRF. This will result in an increased sample turn around time which will both reduce the sample backlog and cope with the accelerated drilling rates, at Rossing South.
Peter McIntyre, Managing Director of Extract Resources, said today “Rossing South is the first new alaskite hosted uranium discovery in Namibia in many years and is shaping up as the most significant discovery since the SJ deposit at the Rossing Mine.”
Extract Resources is an Australian-based uranium exploration company whose primary focus is in the African nation of Namibia. The Company’s principal asset is its 100%-owned Husab Uranium Project which contains three known uranium targets: Ida Dome; Hildenhof; and Rossing South. Rossing South represents the Company’s first new discovery in this area with enormous potential. Extract is listed on the ASX and the TSX under the ticker symbol “EXT”. For more information on Extract visit www.extractresources.com
