23rd July 2009
UPDATE
ON NGM'S DRILLING PROGRAM - NIGER
SUMMARY
Drilling commenced on 6th July as forecast
Results are now available for first phase of drilling
on southern concession - Terzemazour 1
Takardeit zone of mineralisation over 2km in width and
open
High grade at Takardeit at surface - 1.8m @ 0.14%
eU3O8 from 2.2m depth
Exploration target of 35-80M lbs U3O8 at Takardeit
between surface and 30m depth
Drilling Programme
The rotary mud drilling campaign
commenced as forecast on Monday 6th July utilising locally based
drilling contractor Esafor.
Down hole logging has been
undertaken by ULC Afrique de L'ouest (ULC), a French based firm whose
principals have significant international and Tim Merso basin experience in
down hole radiometric logging and geology of sandstone hosted uranium
mineralisation.
The Company identified seven
target areas for drilling on the Terzemazour I (TER1), Toulouk I (TOU1) and
Tagait IV (TAGT4) concessions from the radiometrics, surface mapping and
sampling, and data sourced from old Cogema (Areva) drilling reports (see ASX
release May 25, 2009). Figure 1 shows the location of the tenements and
proposed drill areas.
A total of 1,500m of drilling is planned of which
approximately 1,000m is allocated to the Terzemazour 1 concession. Although the
drill program is small in size the Company now has the results of the first
pass of drilling from the four targets on the Terzemazour I concession.
Drilling is continuing on the Toulouk I and Tagait IV concessions.
Please follow
the link below to view an image of Figure 1 Drilling Location Map for all
Concessions
http://www..purplecom.com.au/_content/documents/1268.JPG
Drilling Results - Terzemazour I
Figure 2 shows the location of
the 16 drill holes testing the four targets on the Terzemazour I concession.
Table 1 provides the details of drill hole locations, and Table 2 summarises
the drill results by prospect.
Please follow
the link below to view an image of Figure 2 Location of Terzemazour 1
Drilling
http://www..purplecom.com.au/_content/documents/1269.JPG
Drill Results - Takardeit
The first phase of drilling at
the Takardeit prospect has identified sandstone hosted mineralisation over an
east west zone of 2,000m (IND011 - IND014 inclusive) and remains open to the
east and south west (Figure 3). Review of the magnetics shows a possible
orientation of the sandstone to the south-west over a distance of 4kms towards
Takardeit South.
The Takardeit drilling has
intersected uranium mineralisation in all seven (7) holes drilled in this target.
Of these, three (3) holes intersected high grade mineralisation including;
IND001, 1.8m @ 1,376ppm eU3O8 from 2.2m depth
IND012, 1.4m @ 1,691ppm eU3O8 from 13.8m depth
IND014, 0.4m @ 1,098ppm eU308 from 7.4m depth
Of particular significance is the
shallow depth of the intersections in all holes drilled in the Takardeit
prospect.
Figure 4 is a cross section
through the Takardeit drill holes IND010 to IND014 inclusive. The sections show
the consistent mineralisation across a width of 2,000m within a particular
carbonaceous sandstone unit, near its contact with the underlying shale
and analcimolite Mousseden Formation. Analcimolite rich units are strongly
associated with uranium mineralisation in the Tim Merso basin.
Drill results - Takardeit South
and East Tageyt
The holes at Takardeit South and East
Tageyt were sited to twin previous Cogema drill holes recorded to
have intersected high grade mineralisation. The twin holes have not intersected
the same geology or the same mineralisation. It is now considered that the
locations of these Cogema holes is in error and further work will be undertaken
to relocate these high grade intercepts.
These targets are therefore still
to be tested with further drilling.
Exploration Target - Takardeit
The Company is proposing a second
phase of drilling at Takardeit to drill test the Exploration Target identified
by drill holes IND11 to IND014 incl. Figure 3 presents the location of the
Target area. The average thickness of the mineralised horizon intersected to
date (defined as a minimum of 2m > 100ppm eU3O8) is 3.5 to 4.0m, the
mineralisation trends over east west for 2 to 2.5kms and is interpreted to
extend to the southwest for 3 to 4kms. The mineralisation is hosted within Jurassic
sandstones that have been mapped at surface by independent consulting group
(SRK Consulting) and mapped as continuing to the south-west. The mineralisation
intersected in these drill holes suggests an average tenor of 300-400ppm U3O8.
The Exploration Target to be
drill tested is potentially 35-80M lbs U3O8. The potential quantity and grade
is conceptual in nature, and there has been insufficient exploration to define
a Mineral Resource, and it is uncertain if further exploration will result in
the determination of a Mineral Resource.
Please follow
the link below to view an image of Figure 3 Takardeit Exploration Target
http://www..purplecom.com.au/_content/documents/1270.JPG
Table 1
Drill Hole Locations
Table 2 Drill Hole Results
Cross Section of Takardeit Exploration Target
Please follow
the link below to view an image of Figure 4 Takardeit Exploration Target
Cross Section
http://www..purplecom.com.au/_content/documents/1271.JPG
Description of Logging
The down hole logging was
undertaken by ULC using their GeoVista Natural Gamma Ray Spectroscopy (NGRS)
system with a NaI crystal. Higher grade intercepts were re-run using a
Geiger-Muller gamma probe. All holes were gamma logged at 10cm intervals.
The holes were also separately
logged for resistivity recording both shallow resistivity (RLLS) and deep
resistivity (RLLD).
The drill holes are approximately
110-121mm in diameter and drilled with bentonite mud.
The natural gamma records were
corrected by ULC for the hole diameter, mud density, logging speed, probe dead
time, to record a "corrected gamma value" expressed in counts per
second (CPS). The corrected gamma is converted to ppm eU using a k-factor of
0.22 and converted to eU3O8 by multiplying by 1.178. All records assume the
radiometric data is in equilibrium. This is a reasonable assumption from the
extensive experience of ULC working for Areva and Goviex on sandstone hosted
mineralisation in similar host rocks and depths north and south of the
Company's concessions.
All holes were logged by an
experienced uranium geologist from ULC with more than five years experience in
logging in the Tim Merso
Basin in Niger.
The drilling program is expected
to be complete by the end of the current week and final results released to
market once logs and geological interpretation has been completed.
Ends
For further information, please contact:
Robert Kirtlan
Director
Tel: +61 (8) 9367 6471
Visit: www..ngmresources.com.au