🕐18.11.09 - 10:47 Uhr
Kalahari Minerals - Extract reports further exceptional results from world-class
Rossing South Project
Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration
18 November 2009
Kalahari Minerals plc (Kalahari)
Exceptional Results from Extract Resources
Kalahari Minerals plc, the AIM listed resource company with uranium, gold and base metal interests in Namibia, is pleased to provide an exploration update published by Extract Resources Ltd (Extract or the Company), in which Kalaharis subsidiary, Kalahari Uranium Limited, holds a 40.44% interest, on the large, high grade, granite hosted uranium system at Rossing South, part of Extracts world-class Husab Uranium Project.
Kalahari Chairman Mark Hohnen said, "The exceptional assay results again underpin the breadth of Rossing South and confirm the global significance of this massive mineralised system.
The continuity being confirmed by the in-fill drilling at Zones 1 and 2 is advancing the resource to Measured and Indicated status which is obviously crucial for the bankable feasibility study.
Importantly all zones of uranium mineralisation are still open at depth and along strike, in at least one direction, which reinforces our belief that the estimated resource figure of 500 million pounds U3O8 for the project is highly conservative.
Additionally at the Salem prospect, located approximately 10km south of Rossing South Zone 2, every hole drilled intersected multiple zones of anomalous uranium mineralisation from shallow depths, which again highlights the huge potential of the ever expanding Husab Project."
Extract announcement:
Rossing South Exploration Results further substantiate the significance of Husab Uranium Project
November 18, 2009: 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 EXTs 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
(m)
To
(m)
Mineralised zones
(U3O8)
Zone 1
RDD078
336
367
31m @
1578 ppm
RRC449
88
225
137m @
464 ppm
RRC456
157
243
86m @
480 ppm
RRC461
61
131
70m @
741 ppm
RRC503
175
277
104 @
485 ppm
RRC504
108
145
37m @
1247 ppm
Zone 2
RDD059
393
411
18m @
3028 ppm
RDD075
371
417
46m @
934 ppm
RRC497
140
203
63m @
924 ppm
Rossing South Exploration Update
General Exploration
RadonX is a proprietary technique whereby radon fluxing through permeable overburden, such as the Rossing South gravel plain, is captured by activated charcoal cartridges within inverted cups.
The cups are buried within the soil for approximately ten days, following which the gamma emitting radon daughter products are measured.
The technique is a refinement of the Radon-On-Activated-Charcoal (ROAC) method developed in South Africa during the 1980s.
A previous orientation RadonX survey over known uranium mineralization at Rossing South produced a compelling case for the effectiveness of the technique in the Rossing South environment, with a clear radon signature being produced in areas with up to 70 metres of overburden.
The planned programme also has the benefit of having a very low environmental impact as the pots will be laid out and collected on foot.
This survey is expected to commence this month and be completed in early 2010.
The results will be evaluated in quarter one 2010.
Following this review priority targets will be defined for drill testing.
This methodology is expected to accelerate progress in testing the enormous potential of the 15 kilometre long Rossing South mineralised trend.
The main targets remain the bulk tonnage primary, granite hosted uranium deposits, but potential also exists for the definition of surficial (secondary) channel hosted mineralisation.
The majority of the prospective zones highlighted by the dashed white lines have yet to be explored.
The Company remains committed to realizing the full potential of this richly endowed project.
Additional geological personnel and drill rigs are being sourced to accelerate exploration efforts.
Another large capacity RC rig has been booked to arrive on site after the Christmas break in January 2010.
Salem Exploration Update
First pass RC drilling has been completed at the Salem prospect located, approximately 10km south of Rossing South Zone 2.
14 holes for 3,955 metres have been completed.
The drilling was targeting a radiometric anomaly associated with a series of alaskite dykes that have intruded grey granite.
The geological setting for this style of primary granite hosted uranium mineralisation differs to that at Rossing South to the north and Ida Dome to the south.
The uraniferous granites at Salem have intruded grey biotite bearing granite.
This style of mineralisation and structural setting is not evident from magnetic data in the same way as Rossing South and Ida Dome.
Potential exists for concealed, Salem type uranium mineralisation further north under the Rossing South gravel plain.
RadonX will help explore for these targets, as well as the more typical Rossing South style of occurrence.
Every hole drilled at Salem intersected multiple zones of anomalous uranium mineralisation from shallow depths.
Unlike Rossing South, uranium mineralization at Salem outcrops at surface, and drilling indicates that the system remains open to the north and south, and at depth.
Results are shown in Appendix 2.
Resource Definition Update - Zone 1 & Zone 2
Eleven rigs are currently dedicated to infill and resource extensional drilling over Zone 1 and 2 to define resources for conversion to reserves as part of the Rossing South Feasibility Study.
A steady flow of quality chemical assay results reconfirms the continuity of the high grade granite hosted uranium mineralisation.
Diamond drilling in the gap between Zone 1 and Zone 2 has confirmed that both zones are part of the same mineralised system hosted within the Rossing South anticline.
The gap between Zones 1 and 2 is thus interpreted to be a down warped section of the anticlinal axis.
Drilling in this area is expected to define additional uranium mineralization which will add to the large resource base already defined.
Further resources are also expected to be defined in the area immediately to the south of Zone 2.
Open pit optimisation on the Inferred Resource defined at Zone 1 and Zone 2 suggests that the majority of resources defined to date are in potentially mineable positions.
The current open pit optimisation, based on a US$65 per pound U3O8 price (approximate long term contract price) has been pushed as deep 370 metres below surface.
The Company believes that ultimate pits in excess of 400 metres depth are a realistic objective, provided the continuity of the mineralised domains can be demonstrated.
Figure 2 shows an example of the Zone 1 uranium mineralisation with strongly mineralised domains open down dip.
All of this material has been captured within preliminary open pit optimisation studies.
A full list of recently received and previously unreported chemical assay results is shown in Appendix 2.
APPENDIX 2:
TABLE OF NEW RESULTS
Husab Project - Rossing South Prospect: RC and diamond drill hole assay results.
Uranium intersections greater than 100 ppm U3O8 over drill hole intersection widths of not less than 2 metres down hole width:
Hole_id
Northing UTM WGS84 33S
Easting UTM WGS84 33S
Azi_True (deg)
Dip (deg)
>From (m)
To (m)
Width (m)
Grade (ppm U3O8)
PC092
7503350
506050
270
-60
65
70
5
424
RDD053
7503654
505306
90
-60
189
192
3
158
276
282
6
109
RDD059
7503303
506205
270
-60
393
411
18
3028
RDD071
7504002
505864
270
-60
303
308
5
226
319
341
22
957
353
359
6
163
RDD073
506107.3
7504005
270
-60
246.6
254
7.4
878
291
294
3
1640
306
316
10
312
328
352
24
688
371
379
8
271
RDD074
7504102
506104
270
-60
400
414
14
287
464
474
10
408
537
542
5
103
553
559
6
543
RDD075
7504404
506126
270
-60
348
353
5
314
371
417
46
934
Including
371
395
24
1516
and
401
417
16
401
RDD078
7505202
506304
270
-60
276
292
16
626
303
314
11
706
336
367
31
1578
424
435
11
159
RDD079
7505503
506105
270
-60
310
313
3
500
328
349
21
1200
Including
328
342
14
1346
and
347
349
2
3130
RDD085
7503153
505656
270
-60
72
74
2
246
92
102
10
109
129
138
9
886
184
199
15
1039
RRC417
7500003
504205
270
-60
237
241
4
356
RRC419
7500003
504405
270
-60
240
246
6
194
RRC420
7500003
504506
270
-60
258
266
8
174
RRC430
7500804
505204
270
-60
197
215
18
221
223
238
15
260
397
405
8
399
RRC443
7506854
506505
270
-60
15
20
5
164
35
43
8
116
52
55
3
105
RRC444
7506851
506606
270
-60
41
44
3
198
75
97
22
208
105
110
5
340
RRC445
7506853
506706
270
-60
44
49
5
111
96
101
5
787
125
133
8
2158
150
162
12
452
RRC446
7506954
506755
270
-60
54
59
5
919
79
82
3
470
136
138
2
163
155
193
38
395
220
232
12
284
244
256
12
240
RRC447
7506953
506656
270
-60
17
23
6
368
40
83
43
526
Including
40
44
4
238
and
51
73
22
896
and
79
83
4
365
94
129
35
618
156
160
4
719
RRC448
7505802
505813
270
-60
159
163
4
299
219
228
9
201
247
249
2
280
259
261
2
1211
RRC449
7505850
506400
270
-60
88
225
137
464
Including
88
100
12
146
and
105
130
25
504
and
137
143
6
256
and
152
225
73
646
248
250
2
365
262
269
7
1122
286
294
8
2725
308
310
2
126
333
364
31
474
RRC450
7505900
505950
270
-60
76
84
8
143
162
164
2
168
202
207
5
228
RRC451
7506453
506303
270
-60
96
98
2
575
RRC453
7506451
506505
270
-60
113
134
21
450
Including
113
122
9
868
and
127
134
7
198
154
156
2
852
188
193
5
110
226
231
5
175
242
244
2
190
258
269
11
265
278
283
5
220
RRC455
7506553
506455
270
-60
53
58
5
136
76
85
9
316
90
95
5
196
RRC456
7506554
506553
270
-60
60
68
8
112
157
243
86
480
Including
157
185
28
1160
and
190
204
14
213
and
213
221
8
309
and
227
243
16
166
RRC457
7506953
506553
270
-60
55
73
18
185
RRC458
7506950
506450
270
-60
0
7
7
107
RRC459
7507050
506400
270
-60
25
29
4
107
RRC460
7507050
506600
270
-60
45
48
3
432
75
81
6
235
118
126
8
280
RRC461
7507252
506505
270
-60
61
131
70
741
Including
61
81
20
1118
and
87
131
44
668
RRC462
7507253
506704
270
-60
263
268
5
265
RRC463
7507153
506449
270
-60
7
18
11
385
38
41
3
220
64
75
11
228
RRC464
7507152
506554
270
-60
25
42
17
109
48
55
7
404
70
75
5
201
116
123
7
145
RRC465
7507153
506657
270
-60
189
194
5
345
201
203
2
218
216
223
7
299
RRC466
7507249
506602
270
-60
174
182
8
273
187
190
3
379
202
215
13
191
RRC467
7502600
505450
270
-60
75
80
5
119
94
115
21
103
137
140
3
600
155
157
2
182
RRC468
7502650
505350
270
-60
116
118
2
144
135
143
8
303
RRC469
7502650
505450
270
-60
144
147
3
138
160
162
2
172
RRC470
7502650
505650
270
-60
208
210
2
121
265
268
3
158
RRC471
7500804
505304
270
-60
198
201
3
203
218
220
2
409
228
241
13
487
RRC472
7500805
505404
270
-60
261
270
9
164
284
290
6
254
RRC473
7500803
505504
270
-60
219
226
7
204
292
296
4
207
320
324
4
341
RRC474
7500400
504700
270
-60
216
230
14
116
RRC481
7500001
504604
270
-60
169
174
5
1766
286
289
3
165
RRC482
7500000
504700
270
-60
210
224
14
737
RRC483
7500000
504800
270
-60
205
232
27
290
244
246
2
142
RRC484
504900
7500000
170
175
5
772
235
240
5
309
RRC491
7507050
506700
270
-60
64
66
2
175
103
111
8
230
118
141
23
332
148
177
29
685
225
238
13
134
RRC492
7507050
506800
270
-60
236
238
2
257
245
250
5
125
262
273
11
186
RRC493
506750
7507150
270
-60
219
236
17
242
241
243
2
273
RRC494
505300
7502950
269.5
-60
51
56
5
113
61
63
2
121
73
79
6
116
100
105
5
421
112
119
7
259
RRC495
7502950
505350
270
-60
94
99
5
235
105
112
7
243
141
145
4
931
159
163
4
1315
RRC496
7502950
505450
270
-60
79
82
3
683
162
164
2
327
RRC497
7502950
505550
270
-60
140
203
63
924
220
226
6
239
237
239
2
199
244
247
3
158
256
263
7
133
RRC501
7505900
506250
270
-60
167
169
2
138
RRC502
7505950
506300
270
-60
58
114
56
315
Including
58
69
11
298
and
74
76
2
302
and
83
89
6
327
and
96
98
2
115
and
105
114
9
1135
127
132
5
193
144
150
6
657
165
172
7
201
233
235
2
172
241
256
15
167
RRC503
7505950
506450
270
-60
83
85
2
354
144
155
11
350
175
279
104
485
303
309
6
131
327
335
8
723
341
346
5
114
RRC504
7505950
506000
270
-60
108
145
37
1247
Including
108
121
13
1216
and
128
145
17
1774
167
172
5
290
208
225
17
356
RRC505
505950
7505950
270
-60
83
96
13
410
126
130
4
322
136
138
2
219
RRC511
7502700
505450
270
-60
102
107
5
128
124
127
3
177
135
139
4
262
202
211
9
299
RRC513
7502700
505650
270
-60
221
233
12
336
253
256
3
470
RRC514
7502750
505350
270
-60
146
148
2
246
RRC515
7502750
505450
270
-60
121
125
4
299
132
168
36
301
SRC001
7492100
505000
270
-60
5
18
13
135
31
55
24
221
63
88
25
103
102
106
4
121
111
127
16
138
133
147
14
255
SRC002
7492200
504900
270
-60
9
13
4
163
25
29
4
129
42
78
36
127
85
88
3
116
SRC003
7492200
505000
270
-60
11
21
10
104
39
70
31
187
79
81
2
138
111
120
9
175
129
131
2
177
SRC004
7492200
505100
270
-60
15
18
3
171
57
83
26
146
88
93
5
114
123
132
9
118
159
162
3
184
170
173
3
111
193
195
2
118
SRC005
7492300
504900
270
-60
8
65
57
294
70
86
16
112
128
134
6
116
SRC006
7492300
505000
270
-60
0
3
3
111
20
31
11
199
39
42
3
149
90
98
8
184
141
164
23
236
187
195
8
201
SRC007
7492300
505100
270
-60
37
39
2
200
102
106
4
134
138
143
5
132
149
166
17
110
184
186
2
160
193
197
4
167
202
206
4
101
SRC008
7492400
504900
270
-60
0
10
10
125
16
71
55
178
85
88
3
130
97
103
6
137
SRC009
7492400
505000
270
-60
1
3
2
113
94
96
2
109
110
114
4
187
183
185
2
135
SRC010
7492400
505100
270
-60
0
16
16
155
28
50
22
144
123
126
3
120
171
177
6
118
SRC011
7492500
504900
270
-60
5
7
2
343
38
41
3
194
68
70
2
134
SRC012
7492500
505000
270
-60
7
9
2
177
37
45
8
261
189
191
2
114
SRC013
7492500
505100
270
-60
13
16
3
124
27
29
2
254
37
41
4
140
61
70
9
106
78
80
2
117
129
135
6
141
SRC014
7492500
505200
270
-60
39
51
12
165
59
84
25
156
145
153
8
105
188
191
3
111
215
220
5
144
320
325
5
217
Notes:
* Analyses on RC chips and NQ drill core by Genalysis Laboratory Services, Perth.
Uranium assays were carried out by Four Acid Digest/MS (AT/MS).
* Metal values (U) have been expressed as parts per million (ppm) U3O8 converted to oxide values (U3O8) using a factor of 1.179 and rounded to zero decimal places.
Note that 100 ppm U3O8 is equivalent to 0.1 kg/t U3O8, which is 0.01% U3O8.
* Intersection widths are estimated to be approximately true width.
* * ENDS * *
For further information please visit www.kalahari-minerals.com or contact:
Mark Hohnen
Kalahari Minerals Plc
Tel: +61 (0) 8 9389 4488
Simon Raggett
Strand Hanson Limited
Tel: +44 (0) 20 7409 3494
Stuart Faulkner
Strand Hanson Limited
Tel: +44 (0) 20 7409 3494
Rory Murphy
Strand Hanson Limited
Tel: +44 (0) 20 7409 3494
Richard Chase
Ambrian Partners Ltd
Tel: +44 (0) 20 7634 4700
Rory Scott
Mirabaud Securities LLP
Tel: +44 (0) 20 7878 3360
Hugo de Salis
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
Susie Callear
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
Notes to Editors:
Kalahari Minerals Plc is an AIM and NSX listed resource company with uranium, gold and base metal interests in western and eastern central Namibia.
Its key investment is its circa 40% holding in ASX, TSX and NSX listed Extract Resources Limited (www.extractresources.com), which is developing the Husab Uranium Project, strategically located directly south of Rio Tintos producing Rossing Mine.
Work is focussing on three main prospects within the project area, Rossing South, Ida Dome and Hildenhof, and results continue to underpin the prospectivity of the region, particularly following the world class Rossing South discovery.
Extract has reported a JORC compliant combined Husab Resource (Global Resources) in excess of 292 M lbs U3O8 of which 267 M lbs U3O8 at a grade of 487 ppm from the two zones at Rossing South.
Importantly these are both open ended at depth and along strike.
Kalahari believes Extract has the ground and potential to deliver on Kalaharis estimates of a resource in the region of 500 M lbs U3O8.
Kalaharis copper interests are focussed on two project areas, Dordabis and Witvlei, where an exploration programme is underway to define +250,000 tonnes of copper metal.
A third project, Ubib, is believed to be prospective for gold mineralisation, whilst a forth project, the Namib Lead Zinc Project, centred on the old Namib Lead Mine, contains surface tails and underground mining reserves of 1.65 million tonnes at 5.7% zinc, 1.6% lead and 40.2 g/t silver (non JORC compliant).
Kalahari aims to take this final project to bankable feasibility study stage with a view to recommencing mining operations in the short term.
Susie Callear
St Brides Media & Finance Ltd
Chaucer House
38 Bow Lane
London EC4M 9AY
T: +44 (0) 207 236 1177 | M: +44 (0) 7976 749 561 | F: +44 (0) 207 236 1188 | www.sbmf.co.uk
______________________________________________________________________
This email has been scanned by the MessageLabs Email Security System.
For more information please visit http://www.messagelabs.com/email
______________________________________________________________________