bigdog
Retired many years ago
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EXT $6.66 +$0.25 +3.900% @ Thu 09 Sep 2010 1:07 PM
9/09/2010 11:30:00 AM Emergence of Zone 5 at Husab`s Rossing South
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01096657
ASX/MEDIA RELEASE
CHEMICAL ASSAYS CONFIRM THE EMERGENCE OF ZONE 5 AT HUSAB’S RÖSSING SOUTH
Highlights:
• Emerging Zone 5 at Husab’s Rössing South:
--o Chemical assay results including 29 metres assaying 1653 ppm U3O8 in RSRC002a
--o Continuous mineralisation at Zone 5 has now been identified over a strike length of 1.7 kilometres and remains open along strike and down dip.
• Granite hosted uranium mineralisation now confirmed over nine kilometres of strike of the Rössing South Anticline with another six kilometres to be explored.
• Definitive Feasibility Study targeted for completion in Q4 of calendar 2010. Early stage planning for Mining Licence application has commenced.
• Comminution test work commenced on a bulk sample of mineralised alaskite material from Rössing South.
• Continued drilling focussed on upgrading early mined material to a “Measured” Resource classification.
• Further exploration potential within Husab Uranium Project still to be tested with an exploration drilling program continuing with a number of new targets planned for testing in 2H, 2010.
• 17 drill rigs currently in operation.
September 9, 2010: Following the resource update announced on 10 August, 2010, which confirmed Rössing South as one of the world’s largest uranium deposits, Extract Resources Limited (ASX/TSX/NSX:EXT) (“Extract” or “the Company”) is pleased to provide an update on progress at the Husab Uranium Project in Namibia.
Drilling Update
Multiple high grade, previously unreported, drilling results have been received from resource definition and exploration drilling, including:
High grade uranium assays have been returned from newly discovered Zone 5 at Rössing South located approximately three kilometres to the south of Zone 2 along regional strike. Drill hole RSRC002a returned an intersection of 29 metres grading 1653 ppm U3O8 from 279 metres. This intersection ranks in the top 2 per cent for metal content within the current Rössing South
database, and confirms Zone 5 as a high priority exploration target. Potential economic grades have been encountered over 1.7 kilometres of strike at Zone 5, and the mineralisation remains open along strike and down dip. A second significant intersection of 14 metres grading 1211 ppm U3O8 was made in hole RSRC004, located 200 metres to the east of RSRC002a. As RC drilling in this area has not intersected footwall gneiss, selected holes are currently being extended by diamond core. The exploration model suggests that additional uranium mineralisation will be intersected in the extended drill holes.
Drilling has now shown that the geological structure hosting the uranium mineralisation at Rössing South is consistently mineralised over a strike length of nine kilometres. Zones 1 and 2 at Rössing South, which are the subject of the Definitive Feasibility Study (DFS) which is currently in progress, together make up the northern 5.5 kilometres of the total identified mineralised strike
length. Approximately six kilometres of the highly prospective Rössing South Anticline remain to be drill tested.
Resource drilling at Rössing South continues with 17 drill rigs currently in operation, 10 of which are diamond drills and the remainder RC percussion. The principal focus of current drilling is to upgrade the confidence levels of early mining areas in Zones 1 and 2 from Indicated to Measured resources. To this end, a drill spacing study will commence shortly. This will assist in determining optimum drill collar spacing for the determination of Measured resources.
Definitive Feasibility Study Update
Work on the DFS is continuing, with a strong team in place to maximise progress of this critical work. A 200 tonne bulk sample of granitic material recently excavated from the northern portion of Zone 1 is currently undergoing comminution testwork in Johannesburg in order to refine the
current designs for crushing and milling equipment.
The follow up work as a result of the operation of the pilot plant at SGS Oretest in Perth from April to July 2010 continues to return data. This data will feed into the design of the planned processing plant.
The block model used in the resource update announced on 10 August 2010 has been passed onto the mining team for mine design optimisation. Detailed mine design and scheduling of the Zone 1 and Zone 2 resources will form the basis of the mining inventory for the DFS. Zones 3, 4 and 5 are also potential sources of future mine production, but will not feature in the DFS base case, as Indicated or Measured Resources in these zones have not yet been defined.
Information available from the pilot plant indicates that accounting for a leach residue grade and process plant recovery losses, such as belt filtration soluble losses and plant wide scale precipitation from the process leach liquors, is the most representative way to determine total process recovery. Applying this methodology is expected to result in lower recoveries from low grade material (<400 ppm U3O8) and higher recoveries from high grade material (>400 ppm U3O8).
Investigations into minimising the leach residue grade are in progress. This recovery methodology will be applied to optimisation of the August 2010 resource model to help determine overall process recovery for the DFS. Acid consumption based on lithology will also feature in future resource optimisation. Determining total process recovery and acid consumption will form a critical component of detailed mine planning and scheduling for the DFS so that the most robust mine plan can be developed.
Mining Licence Update
In parallel with the DFS and Environmental Impact Assessment study, early planning for a Mining Licence application for Husab’s Rössing South has commenced. It is anticipated that the Mining Licence application will be lodged with the Namibian Ministry of Mines and Energy in Q4, of calendar 2010.
Exploration
A large number of additional uranium exploration targets have been identified within the Husab Project, many of which have had no previous work carried out on them. During the next 12 months, reconnaissance level exploration will be completed on many of these targets in order to assess their potential to host economic concentrations of uranium mineralisation.
7401
9/09/2010 11:30:00 AM Emergence of Zone 5 at Husab`s Rossing South
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01096657
ASX/MEDIA RELEASE
CHEMICAL ASSAYS CONFIRM THE EMERGENCE OF ZONE 5 AT HUSAB’S RÖSSING SOUTH
Highlights:
• Emerging Zone 5 at Husab’s Rössing South:
--o Chemical assay results including 29 metres assaying 1653 ppm U3O8 in RSRC002a
--o Continuous mineralisation at Zone 5 has now been identified over a strike length of 1.7 kilometres and remains open along strike and down dip.
• Granite hosted uranium mineralisation now confirmed over nine kilometres of strike of the Rössing South Anticline with another six kilometres to be explored.
• Definitive Feasibility Study targeted for completion in Q4 of calendar 2010. Early stage planning for Mining Licence application has commenced.
• Comminution test work commenced on a bulk sample of mineralised alaskite material from Rössing South.
• Continued drilling focussed on upgrading early mined material to a “Measured” Resource classification.
• Further exploration potential within Husab Uranium Project still to be tested with an exploration drilling program continuing with a number of new targets planned for testing in 2H, 2010.
• 17 drill rigs currently in operation.
September 9, 2010: Following the resource update announced on 10 August, 2010, which confirmed Rössing South as one of the world’s largest uranium deposits, Extract Resources Limited (ASX/TSX/NSX:EXT) (“Extract” or “the Company”) is pleased to provide an update on progress at the Husab Uranium Project in Namibia.
Drilling Update
Multiple high grade, previously unreported, drilling results have been received from resource definition and exploration drilling, including:
High grade uranium assays have been returned from newly discovered Zone 5 at Rössing South located approximately three kilometres to the south of Zone 2 along regional strike. Drill hole RSRC002a returned an intersection of 29 metres grading 1653 ppm U3O8 from 279 metres. This intersection ranks in the top 2 per cent for metal content within the current Rössing South
database, and confirms Zone 5 as a high priority exploration target. Potential economic grades have been encountered over 1.7 kilometres of strike at Zone 5, and the mineralisation remains open along strike and down dip. A second significant intersection of 14 metres grading 1211 ppm U3O8 was made in hole RSRC004, located 200 metres to the east of RSRC002a. As RC drilling in this area has not intersected footwall gneiss, selected holes are currently being extended by diamond core. The exploration model suggests that additional uranium mineralisation will be intersected in the extended drill holes.
Drilling has now shown that the geological structure hosting the uranium mineralisation at Rössing South is consistently mineralised over a strike length of nine kilometres. Zones 1 and 2 at Rössing South, which are the subject of the Definitive Feasibility Study (DFS) which is currently in progress, together make up the northern 5.5 kilometres of the total identified mineralised strike
length. Approximately six kilometres of the highly prospective Rössing South Anticline remain to be drill tested.
Resource drilling at Rössing South continues with 17 drill rigs currently in operation, 10 of which are diamond drills and the remainder RC percussion. The principal focus of current drilling is to upgrade the confidence levels of early mining areas in Zones 1 and 2 from Indicated to Measured resources. To this end, a drill spacing study will commence shortly. This will assist in determining optimum drill collar spacing for the determination of Measured resources.
Definitive Feasibility Study Update
Work on the DFS is continuing, with a strong team in place to maximise progress of this critical work. A 200 tonne bulk sample of granitic material recently excavated from the northern portion of Zone 1 is currently undergoing comminution testwork in Johannesburg in order to refine the
current designs for crushing and milling equipment.
The follow up work as a result of the operation of the pilot plant at SGS Oretest in Perth from April to July 2010 continues to return data. This data will feed into the design of the planned processing plant.
The block model used in the resource update announced on 10 August 2010 has been passed onto the mining team for mine design optimisation. Detailed mine design and scheduling of the Zone 1 and Zone 2 resources will form the basis of the mining inventory for the DFS. Zones 3, 4 and 5 are also potential sources of future mine production, but will not feature in the DFS base case, as Indicated or Measured Resources in these zones have not yet been defined.
Information available from the pilot plant indicates that accounting for a leach residue grade and process plant recovery losses, such as belt filtration soluble losses and plant wide scale precipitation from the process leach liquors, is the most representative way to determine total process recovery. Applying this methodology is expected to result in lower recoveries from low grade material (<400 ppm U3O8) and higher recoveries from high grade material (>400 ppm U3O8).
Investigations into minimising the leach residue grade are in progress. This recovery methodology will be applied to optimisation of the August 2010 resource model to help determine overall process recovery for the DFS. Acid consumption based on lithology will also feature in future resource optimisation. Determining total process recovery and acid consumption will form a critical component of detailed mine planning and scheduling for the DFS so that the most robust mine plan can be developed.
Mining Licence Update
In parallel with the DFS and Environmental Impact Assessment study, early planning for a Mining Licence application for Husab’s Rössing South has commenced. It is anticipated that the Mining Licence application will be lodged with the Namibian Ministry of Mines and Energy in Q4, of calendar 2010.
Exploration
A large number of additional uranium exploration targets have been identified within the Husab Project, many of which have had no previous work carried out on them. During the next 12 months, reconnaissance level exploration will be completed on many of these targets in order to assess their potential to host economic concentrations of uranium mineralisation.
7401
