Rössing South results come in

Friday, 30 January 2009

A uranium deposit alongside the existing Rössing mine has been shown to be Namibia's fourth largest. An Australian company is now studying the feasibility of mining it.

 

Extract Resources, based in Perth, has announced for Zone 1 of its Rössing South deposit in Namibia an inferred resource of 41,600 tonnes of uranium at an average grade of  0.0365%. The figures, which are compliant with the JORC and NI 43-101 standards, were announced on 27 January.

 

The deposit at Rössing South Zone 1 extends to a depth of about 225 m beneath the sand of the Namibian desert

 

Extract said Rössing South the highest grade granite-hosted uranium deposit in Namibia, and it is an extension of the Rossing stratigraphy. It lies under a shallow (50 metres) alluvial sand cover. Having gone from discovery to project in 12 months, Extract is moving straight into a feasibility study for mining Zone 1. At the same time it will drill further at Zone 2 to "establish an even larger resource base." A further zone remains a target for exploration.
 
Rössing South lies about seven kilometres away from the Rio Tinto-controlled Rossing mine. The resource figures so far rank it fourth in Namibia, after Rössing, Langer Heinrich and Trekkopje.