Announcement
New Uranium
Mineralisation Discovered by Drilling at Gwabe, Zambia
Highlights
·
Significant
thickness and extent of uranium mineralisation intersected in initial
reverse circulation drilling at the Gwabe prospect, Zambia.
·
Results from
initial twenty-five hole reconnaissance programme confirm the presence
of sandstone hosted uranium mineralisation with potentially economic
grades and thicknesses at shallow depths that may be amenable to open
pit extraction.
·
Discovery of
mineralisation at Gwabe is further confirmation of the high
prospectivity for uranium in the Company’s extensive tenement
holdings within the Karoo Basins of Zambia (Diagram 1).
·
The table below
summarises significant results from the initial twenty-five hole
programme:
GWN019:
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6m @ 566 ppm U3O8 from 21m
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including:
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3m @ 703 ppm U3O8 from 21m
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and:
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1m @ 993 ppm U3O8 from 25m
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GWN012:
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15m @ 137 ppm U3O8 from 12m
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including:
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4m @ 261 ppm U3O8 from 12m
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and:
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2m @ 228 ppm U3O8 from 25m
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GWN016:
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18m @ 230 ppm U3O8 from 10m
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including:
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6m @ 250 ppm U3O8 from 10m
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and:
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6m @ 313 ppm U3O8 from 22m
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GWN017:
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8m @ 185 ppm U3O8 from 18m
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·
Assay results for
approximately 90 infill holes from Gwabe are expected in August.
·
Extensional
drilling around the known Njame North Inferred Resource will commence
within a week, once infill drilling at Gwabe is completed.
·
Rock-chip sampling
programme completed along several traverses across ground radiometric
anomalies at the Company’s Chisebuka uranium prospect, assay
results are expected in August. Drilling planned to commence at
Chisebuka near the end the of September quarter 2007.
·
Reconnaissance of the
Namakande uranium prospects has commenced, work will include ground
scintillometer surveys, soil sampling programmes and rock-chip sampling
aimed at prioritising drilling targets for assessment in December
quarter 2007.
Please
find a link below to Albidon's website to view the full announcement,
which has been released onto the ASX and AIM.
http://www.albidon.com
Additional
information may also be viewed on Albidon’s website at www.albidon.com
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