Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration
18 February 2010
Kalahari Minerals plc (`Kalahari')
Outstanding Chemical Assay Results from Rössing South
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 Kalahari's
subsidiary, Kalahari Uranium Limited, holds a 40.44% interest, regarding
further outstanding chemical assay results from the Rössing South mineralised
system, part of Extract's world-class Husab Uranium Project.
Kalahari Executive Chairman Mark Hohnen said, "These are truly stunning
results, with highlights including 146m @ 639ppm and 21m @ 2,003ppm for Zone 1,
129m @ 1,415ppm and 99m @1,078ppm for Zone 2. These results reiterate the
quality and global significance of the Husab Uranium Project in Namibia and we
are confident that, with the highly active on-going drilling programme on the
two zones reported on, which are open down dip and along strike, a resource
target in excess of 550Mlbs will easily be achieved.
"There are now 15 rigs on site at Rössing South, with additional rigs being
secured to speed the drilling programme, which underpins Extract's commitment
to the completion of its pre-feasibility report, and in due course, the
development of a mine. We expect that the pre-feasibility report, which is due
in June 2010, will indicate production throughput levels higher than the 15Mtpa
reported in the scoping study, further reiterating the enormous potential of
this project to support one of the world's largest uranium mines."
Extract Announcement:
Rössing South: Outstanding Chemical Assay Results
18 February 2010: Extract Resources Ltd (ASX/TSX/NSX: EXT), a uranium
exploration and development company with projects in Namibia, today announced
further outstanding chemical assay results from the Rössing South mineralised
system, part of Extract's world-class Husab Uranium Project.
The results reflect the quality and global significance of the Husab Uranium
Project and underpin Extract's commitment to the completion of a Definitive
Feasibility Study and, in due course, the development of a mine at Rössing
South.
Highlights:
* Uranium mineralisation is open down dip and along strike, with further
drilling expected to upgrade the resource classification and increase the
size of this massive mineralised system.
* 15 drill rigs currently operating at Rössing South with 14 dedicated to
infill and resource drilling at Zone 1 and Zone 2.
* Additional drill rigs being sourced and deployed to exploration drilling
targets.
* Multiple high grade chemical assay results from Zone 1 and Zone 2 drilling,
including:
Hole ID From To Mineralised zones
(m) (m) (U3O8)
Zone 1
RRC595 336 367 146m @ 639 ppm
RRC600 222 310 88m @ 650 ppm
Including 263 299 36m @ 1287 ppm
RRC605 65 127 62m @ 786 ppm
Including 78 99 21m @ 2003 ppm
RRC641 274 297 23m @ 1673 ppm
RDD104 152 176 24m @ 848 ppm
Zone 2
RDD072 262 361 99m @ 1078 ppm
Including 351 361 10m @ 9373 ppm
RDD087 186 215 29m @ 1120 ppm
Including 205 215 10m @ 2805 ppm
RDD102 237 366 129m @ 1415 ppm
Including 286 354 68m @ 2363 ppm
RRC588 198 258 60m @ 838 ppm
Including 233 247 14m @ 2298 ppm
RRC611 162 203 41m @ 801 ppm
RRC614 182 257 75m @ 664 ppm
Rössing South Exploration Update
Significant exploration potential remains at Rössing South. To realise this
potential and move a step closer to development, the company is sourcing
additional reverse circulation (RC) and diamond drill rigs to accelerate an
enhanced drilling programme. The main focus will be granite hosted primary
uranium mineralisation within the prospective zones.
Resource Definition Update - Zone 1 & Zone 2
The company has completed 249,810 metres of drilling at the Rössing South
project with 225,951 metres of this total dedicated to resource definition
within Zone 1 and Zone 2. Fourteen drill rigs, including eight RC rigs and six
diamond core rigs are completing infill and resource extensional drilling to
enable an upgrade of the resource to `Indicated' status for inclusion in the
Definitive Feasibility Study. An additional RC rig is continuing with
sterilisation drilling for mine infrastructure east of Zone 1 and Zone 2.
The latest round of chemical assay results were received from 75 drill holes
located throughout Zone 1 and Zone 2. Multiple intercepts of high grade
mineralisation were reported from drill holes within both Zone 1 and Zone 2,
highlighting the strong continuity of the high grade domains. Uranium
mineralisation remains open along strike and down dip with further drilling
expected to increase the known dimensions of this massive mineralised system.
A full list of recently received and previously unreported chemical assay
results is shown in Appendix 1.
About Extract Resources
Extract Resources Ltd is an Australian-based uranium exploration and
development company whose primary focus is in Namibia. The company's principal
asset is its 100%-owned Husab Uranium Project which contains two known uranium
deposit areas, Rössing South and Ida Dome. Extensive exploration potential also
exists for new uranium discoveries in the region.
For further information, please contact:
Steve Galloway Richard Henning
Chairman Investor Relations
+ 264 61 227950 +61 89367 2111
rhenning@extractresources.com
The information in this report that relates to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled or reviewed by Mr
Martin Spivey, who is a Member of The Australasian Institute of Mining and
Metallurgy and Mr Andrew Penkethman who is a Member of the Australian Institute
of Geoscientists. Mr Spivey and Mr Penkethman are both full time employees of
the Company. Mr Spivey and Mr Penkethman have sufficient experience which is
relevant to the style of mineralisation and type of deposit under consideration
and to the activity which they are undertaking to qualify as a Competent Person
as defined in the 2004 Edition of the `Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves'. Mr Spivey and Mr
Penkethman consent to the inclusion in this report of the matters based on
their information in the form and context in which it appears.
Reference to hand held spectrometer results refers to use of a Company owned
Exploranium, GR-135 Plus or Terraplus RS-125, hand held spectrometer. The
uranium values are recorded by placing the unit on the bulk RC sample bags or
individual trays of drill core and expressed as parts per million (ppm) eU
which is equivalent to ppm U. Results from these units provide an indication of
uranium mineralisation; they may also be affected by uranium mobility and
disequilibrium. These factors should be considered when interpreting eU
information whilst waiting for confirmation chemical assay results.
This press release contains forward-looking statements based on current
expectations. These forward-looking statements entail various risks and
uncertainties that could cause actual results to differ materially from those
reflected.
Husab Project - Rössing South Prospect: 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:
APPENDIX 1
TABLE OF NEW RESULTS
Prospect Hole Easting Northing Azi True Dip From To Width Grade
ID UTM WGS84 UTM WGS84 (deg) (deg) (m) (m) (m) (ppm
U308)
33 S 33 S
Zone 1 RRC539 506500 7506550 270 -60 71 75 4 137
102 105 3 726
113 117 4 554
156 160 4 150
Zone 1 RRC540 506850 7506950 270 -60 69 71 2 142
132 142 10 291
196 207 11 157
220 222 2 147
228 231 3 403
237 243 6 237
261 274 13 143
Zone 1 RRC545 506600 7506250 270 -60 286 299 13 126
326 333 7 353
Zone 1 RRC546 505780 7506300 90 -60 204 226 22 715
Zone 1 RRC547 505820 7506300 90 -60 159 169 10 155
176 178 2 464
200 204 4 215
210 227 17 149
Zone 1 RRC548 506650 7506350 270 -60 275 296 21 655
303 306 3 491
Zone 1 RRC549 506400 7506350 270 -60 48 52 4 107
97 113 16 273
Zone 1 RRC550 506800 7506850 270 -60 61 161 100 331
incl 61 88 27 553
and 98 115 17 858
and 120 126 6 283
and 158 161 3 381
259 261 2 203
266 269 3 292
277 279 2 204
291 298 7 167
303 305 2 156
Zone 1 RRC565 505950 7505200 270 -60 73 159 86 383
incl 73 91 18 437
and 96 122 26 454
and 150 159 9 1383
211 232 21 189
Zone 1 RRC589 506250 7505350 270 -60 137 139 2 147
165 209 44 571
220 236 16 332
264 270 6 325
Zone 1 RRC590 505950 7505350 270 -60 70 83 13 372
88 99 11 202
121 123 2 554
128 130 2 578
Zone 1 RRC592 506550 7506900 270 -60 32 47 15 285
62 68 6 128
84 87 3 135
Zone 1 RRC593 506900 7507050 270 -60 215 219 4 545
297 310 13 173
incl 297 299 2 871
Zone 1 RRC595 506000 7505750 270 -60 101 247 146 639
incl 101 116 15 1488
and 122 126 4 393
and 134 153 19 708
and 161 164 3 285
and 172 247 75 725
296 304 8 140
Zone 1 RRC596 505950 7505750 270 -60 82 107 25 115
incl 82 91 9 164
and 97 99 2 435
and 105 107 2 148
145 171 26 102
incl 145 147 2 697
194 295 101 230
incl 194 215 21 244
and 220 242 22 256
and 249 273 24 183
and 279 295 16 484
Zone 1 RRC597 505830 7505700 90 -60 56 98 42 145
incl 56 88 32 175
148 161 13 115
incl 148 152 4 241
and 158 161 3 137
174 176 2 158
190 199 9 173
223 262 39 653
incl 223 225 2 681
and 232 262 30 798
Zone 1 RRC598 506150 7505550 270 -60 181 208 27 376
incl 181 197 16 605
206 208 2 139
272 277 5 119
315 341 26 393
Zone 1 RRC599 506250 7505550 270 -60 124 188 64 239
incl 124 148 24 256
155 178 23 346
184 188 4 227
Zone 1 RRC600 506050 7505550 270 -60 91 97 6 763
122 128 6 129
134 137 3 201
146 148 2 240
222 310 88 650
incl 222 243 21 231
and 248 255 7 620
and 263 299 36 1287
and 305 310 5 140
Zone 1 RRC601 506950 7506950 270 -60 101 103 2 508
117 121 4 155
130 136 6 117
188 218 30 173
incl 188 192 4 812
and 197 201 4 126
and 208 212 4 119
259 283 24 220
296 343 47 643
incl 296 298 2 213
and 304 343 39 759
375 384 9 234
Zone 1 RRC602 506950 7507150 270 -60 155 226 71 153
incl 155 164 9 258
and 170 183 13 186
and 198 200 2 101
and 205 215 10 285
and 223 226 3 410
274 286 12 152
Zone 1 RRC603 506150 7505700 270 -60 100 181 81 241
incl 129 156 27 353
and 161 181 20 354
Zone 1 RRC604 506150 7505650 270 -60 65 70 5 127
106 112 6 251
133 140 7 171
199 211 12 347
Zone 1 RRC605 506050 7505650 270 -60 65 127 62 786
incl 65 70 5 235
and 78 99 21 2003
and 105 127 22 217
223 226 3 148
294 306 12 274
Zone 1 RRC622 506250 7505250 270 -60 161 191 30 406
233 309 76 584
incl 233 238 5 1185
and 252 266 14 1100
and 281 309 28 787
Zone 1 RRC624 506050 7505250 270 -60 94 96 2 186
118 123 5 1005
151 165 14 563
incl 151 158 7 760
163 165 2 1153
210 222 12 107
incl 210 212 2 248
and 219 222 3 217
315 332 17 133
incl 315 320 5 306
and 330 332 2 216
Zone 1 RRC641 506250 7505450 270 -60 122 151 29 184
incl 129 138 9 230
and 144 151 7 420
174 192 18 258
204 209 5 1083
274 297 23 1673
Zone 1 RDD104 506400 7506200 270 -65 84 116 32 272
incl 84 92 8 273
and 97 103 6 329
and 108 116 8 503
134 136 2 305
152 176 24 848
incl 152 168 16 1200
and 173 176 3 333
Zone 1 RDD120 507050 7506950 270 -60 90 133 43 163
Zone 2 RRC553 505350 7503450 270 -60 86 91 5 114
96 98 2 158
146 148 2 328
165 172 7 136
191 193 2 206
201 203 2 414
Zone 2 RRC556 505650 7503450 270 -60 128 135 7 729
140 146 6 433
181 184 3 264
219 232 13 504
260 264 4 129
Zone 2 RRC557 505750 7503450 270 -60 165 298 133 333
incl 165 174 9 378
and 182 189 7 1588
and 195 212 17 226
and 221 225 4 364
and 235 250 15 1776
and 257 262 5 273
and 277 280 3 125
and 295 298 3 208
Zone 2 RRC558 505850 7503450 270 -60 105 116 11 101
125 144 19 353
150 153 3 399
195 203 8 976
216 247 31 334
Zone 2 RRC559 505950 7503450 270 -60 161 190 29 356
222 234 12 214
253 294 41 449
incl 253 267 14 575
and 291 294 3 3241
Zone 2 RRC560 505290 7503500 90 -60 185 203 18 712
209 218 9 145
223 226 3 799
235 237 2 1321
Zone 2 RRC563 506150 7505200 270 -60 70 100 30 814
incl 70 75 5 3724
and 82 100 18 309
151 154 3 188
164 171 7 466
201 211 10 197
231 234 3 140
275 282 7 821
309 319 10 1066
Zone 2 RRC564 506050 7505200 270 -60 81 83 2 122
101 103 2 343
121 124 3 388
189 192 3 263
Zone 2 RRC572 505350 7503250 270 -60 75 90 15 105
96 112 16 104
122 141 19 1302
Zone 2 RRC573 505450 7503250 270 -60 80 85 5 110
102 104 2 304
110 112 2 307
117 139 22 806
Zone 2 RRC574 505550 7503250 270 -60 122 235 113 230
incl 122 127 5 416
and 160 193 33 394
and 204 208 4 411
and 220 235 15 482
241 245 4 154
Zone 2 RRC575 505650 7503250 270 -60 110 244 134 267
incl 110 113 3 184
and 118 120 2 1601
and 130 135 5 269
and 164 166 2 1360
and 186 214 28 577
and 219 224 5 278
and 237 244 7 1221
Zone 2 RRC577 505850 7503250 270 -60 90 95 5 120
142 147 5 145
153 303 150 270
incl 153 160 7 259
and 172 174 2 802
and 184 215 31 509
and 232 234 2 199
and 266 303 37 534
Zone 2 RRC578 505300 7503600 90 -60 169 181 12 172
227 229 2 401
261 264 3 971
Zone 2 RRC579 505400 7503600 90 -60 162 164 2 814
204 213 9 168
238 242 4 525
Zone 2 RRC580 505760 7503600 270 -60 65 70 5 168
157 166 9 170
172 255 83 274
260 266 6 171
Zone 2 RRC581 505550 7503650 270 -60 55 60 5 103
225 257 32 381
263 267 4 216
Zone 2 RRC582 505650 7503650 270 -60 145 147 2 354
185 200 15 345
215 225 10 270
243 245 2 230
Zone 2 RRC583 505850 7503650 270 -60 144 156 12 633
164 172 8 148
193 195 2 369
200 220 20 245
231 235 4 643
Zone 2 RRC585 505950 7503700 270 -60 128 303 177 296
incl 128 133 5 654
and 159 187 28 446
and 193 213 20 733
and 220 227 7 641
and 244 275 31 261
and 290 303 13 517
321 325 4 172
Zone 2 RRC586 505650 7503750 270 -60 111 119 8 121
281 285 4 233
Zone 2 RRC588 505850 7503750 270 -60 198 258 60 838
incl 198 228 30 549
and 233 247 14 2298
and 254 258 4 302
Zone 2 RRC611 505850 7503500 270 -60 115 148 33 158
incl 115 122 7 237
and 131 133 2 179
and 138 148 10 301
162 203 41 801
incl 162 166 4 199
and 171 203 32 993
221 264 43 387
incl 221 235 14 750
and 242 264 22 268
Zone 2 RRC612 505230 7503550 90 -60 144 172 28 225
incl 144 154 10 115
and 163 172 9 552
186 197 11 231
237 241 4 145
Zone 2 RRC613 505450 7503550 270 -60 256 262 6 113
Zone 2 RRC614 505650 7503550 270 -60 144 169 25 246
182 257 75 664
incl 182 207 25 791
214 247 33 877
253 257 4 144
286 288 2 352
Zone 2 RRC615 505850 7503550 270 -60 97 100 3 143
120 130 10 116
145 195 50 514
incl 145 149 4 282
and 157 195 38 643
231 253 22 205
291 299 8 305
Zone 2 RRC616 505350 7503350 270 -60 102 149 47 532
incl 102 105 3 494
and 112 149 37 634
161 165 4 537
Zone 2 RRC617 505450 7503350 270 -60 90 98 8 328
114 117 3 446
139 177 38 224
incl 139 148 9 199
and 155 162 7 148
and 169 177 8 689
197 203 6 120
212 217 5 111
Zone 2 RRC621 505920 7503600 270 -60 101 109 8 328
120 171 51 567
incl 120 141 21 657
and 149 171 22 682
191 233 42 358
incl 191 212 21 305
and 220 233 13 645
248 284 36 665
306 310 4 123
Zone 2 PC112 506150 7503650 270 -60 223 230 7 174
Zone 2 RDD072 506020 7504000 270 -60 240.55 245 4.45 255
262 361 99 1078
incl 262 270 8 242
and 282 284 2 416
and 299 315 16 569
and 351 361 10 9373
387 405 18 821
422 446 24 607
Zone 2 RDD083 505656 7502952 270 -60 91 94 3 114
128 145 17 818
166 177 11 833
207 218 11 253
Zone 2 RDD087 505550 7503550 270 -60 186 215 29 1120
incl 186 200 14 313
and 205 215 10 2805
230 263 33 972
Zone 2 RDD089 505750 7503650 270 -60 149 153 4 154
171 181 10 463
208 265 57 467
incl 208 234 26 464
and 239 259 20 709
313 336 23 101
incl 321 330 9 158
Zone 2 RDD090 505550 7502650 270 -60 171 174 3 243
186 242 56 336
incl 195 199 4 941
and 214 219 5 1532
and 225 235 10 527
Zone 2 RDD091 505450 7502850 270 -60 85 190 105 394
incl 85 137 52 391
144 161 17 241
167 180 13 1226
Zone 2 RDD092 506050 7503350 270 -60 65 70 5 424
324 359 35 213
incl 324 333 9 128
and 342 347 5 731
and 355 359 4 530
Zone 2 RDD093 506050 7503900 270 -60 70 75 5 147
143 147 4 111
210 216 6 423
228 249 21 182
incl 228 235 7 297
and 245 249 4 421
314 325 11 195
incl 314 318 4 374
340 358 18 329
376 400 24 613
Zone 2 RDD100 505595 7503000 270 -70 82 84 2 290
98 205 107 290
incl 98 115 17 442
124 150 26 461
158 161 3 233
167 182 15 567
Zone 2 RDD101 505600 7503500 270 -65 60 65 5 111
80 85 5 145
116 118 2 202
163 173 10 614
189 202 13 939
213 216 3 1573
228 232 4 180
265 267 2 157
Zone 2 RDD102 505900 7503900 270 -65 237 366 129 1415
incl 237 245 8 267
and 251 280 29 615
and 286 354 68 2363
and 364 366 2 791
Zone 2 RDD106 506000 7503200 270 -60 275 280 5 193
301 304 3 169
Zone 2 RDD109 506250 7503450 270 -60 501 506 5 221
Zone 2 RDD081 504055 7500003 270 -60 111 122 11 230
Extension
150 153 3 238
166 170 4 631
183 185 2 261
Zone 2 RDD082 503720 7500000 90 -60 145 155 10 190
Extension
234 239 5 543
Notes:
* Analyses on RC chips and ½ 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.
* Figures rounded to zero decimal places.
* * 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 Namibia. Its key investment is its 40.4%
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 Tinto's producing Rössing Mine.
Work is focussing on three main prospects within the project area, Rössing
South, Ida Dome and Hildenhof, and results continue to underpin the
prospectivity of the region, particularly following the world class Rössing
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 Rössing 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
Kalahari's estimates of a resource in the region of 500 M lbs U3O8.
Kalahari's 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.
