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Kalahari Minerals plc - Rossing South Drilling and Exploration Update
Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining &
Exploration
11 January 2010
Kalahari Minerals plc (Kalahari)
Rossing South Drilling and Exploration Update
Kalahari Minerals plc, the AIM listed resource company with uranium,
gold and base metal interests in Namibia, is pleased to provide an
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 Executive Chairman Mark Hohnen said, "The infill resource
definition drilling continues at pace, at Rossing South, as Extract
looks rapidly to advance the project and complete the feasibility study.
The ongoing results at Zones 1 & 2 continue to return high grade
intercepts, confirming the world class nature of the resource and its
future production potential."
Extract Announcement:
Rossing South Drilling and Exploration Update
11 January 2010: Extract Resources Ltd (ASX/TSX/NSX: EXT), a uranium
exploration and development company with projects in Namibia, today
announced updated exploration results from the massive Rossing South
mineralised system, part of Extracts world-class Husab Uranium Project.
Highlights:
* Infill resource definition drilling continues to return high
grade intercepts
* All zones of uranium mineralisation still open at depth and
along strike, in at least one direction.
* 13 drill rigs operating on site, with additional rigs due on
site in the next 4 to 6 weeks to accelerate exploration and resource
definition efforts.
* Encouraging results from the RadonX survey programme
The latest round of chemical assay results continues to set Rossing
South apart as a truly impressive uranium project.
Extract Resources Chairman, Mr.
Steve Galloway, said: "We are pleased
that we continue to return results with positive surprises at Rossing
South - the quality of the original discovery continues to be confirmed,
and if anything, gets better.
We are conscious of the need to expand our
regional exploration programme.
Rossing South as defined for our
feasibility study represents just a fraction of the prospective area.
The RadonX survey results give us a useful indicator of where we should
focus future exploration drilling, and the company is committed to this
work.
He added "With the feasibility study on-going and enough cash to fund a
new exploration programme - the company is well positioned to add
substantial resources to our existing inventory over the next six months
and beyond."
Chemical assay results not previously reported from recent drilling at
Rossing South include:
Hole ID
From
(m)
To
(m)
Mineralised zones
(U3O8)
Zone 1
RRC508
98
159
61m @
686ppm
RRC509
108
203
95m @
665ppm
RRC533
296
409
113m @
382ppm
RRC591
209
233
24m @
2349ppm
Zone 2
RRC489
135
185
50m @
1618ppm
RRC528
136
227
91m @
854ppm
RRC576
146
211
65m @
1125ppm
RRC490
155
193
38m @
1699ppm
RRC584
120
195
75m @
770ppm
RDD086
207
230
23m @
2417ppm
including
214
217
3m @
11034ppm
Zone 1&2 gap
RDD077
453
486
33m @
1487ppm
A complete table of new results is included in Appendix 2.
About Extract Resources
Extract Resources Ltd is an Australian-based uranium exploration and
development company whose primary focus is in Namibia.
The Companys
principal asset is its 100% owned Husab Uranium Project which contains
two known uranium deposit areas, Rossing South and Ida Dome.
Extensive
exploration potential also exists for new uranium discoveries in the
region.
* * 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 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
Resource) in excess of 292 M lbs U3O8 at a grade of 439 ppm of which 267
M lbs U3O8 at a grade of 487 ppm is from the two zones at Rossing South
at 100 ppm U3O8 cut-off.
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 other key investment is its circa 44.9% holding in
North River Resources Plc, an AIM listed emerging southern African
focussed multi commodity resource development company.
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
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