| EXTRACT RESOURCES: ASX Announcement |
QUARTERLY 21
4 September 2007
Significant drill results from initial drilling at Garnet Valley on the Husab Uranium Project, Namibia
Extract Resources (ASX:EXT) is pleased to announce the assay results from the first 20 Reverse Circulation holes drilled at Garnet Valley on the Husab Uranium Project in Namibia and provide an update on further progress made on the Uis
Project also in Namibia.
SUMMARY:
- Excellent assay results from initial RC drilling have been returned from the Garnet Valley area on the Ida Dome structure. These results represent the first drilling to have been completed in the Garnet Valley Prospect (formerly Anomaly "A") since the
late 1970’s.
Significant new intersections include:
- 55 metres assaying 0.226 kg/t U3O8 (226 ppm)
- 23 metres assaying 0.365 kg/t U3O8 (365 ppm)
- 33 metres assaying 0.352 kg/t U3O8 (352 ppm)
- 24 metres assaying 0.255 kg/t U3O8 (255 ppm)
- 11 metres assaying 0.643 kg/t U3O8 (643 ppm)
- First holes intended to define the foot wall position only, with better results anticipated from hanging wall positions still to be drilled and/or assayed.
- Drilling continues at Garnet Valley with one RC rig and two Diamond rigs on site. Additional drilling rigs have been secured and are expected to be on site to commence further drilling in October. A third Diamond rig continues to operate at Ida
Central.
- Airborne magnetic and radiometric surveys have been flown over EPL 3328 in the Uis Project area. Preliminary results show a strong uranium channel anomaly located in the south west of the license.
Assay results returned to date from Reverse Circulation drilling at Garnet Valley are included in a table along with maps and additional detail on both the Garnet Valley and Uis Project in the attached ASX announcement which was released by
Extract today.
Download the full ASX announcement by clicking
here.
Extract Resources Limited (ABN 61 057 337 952)
30 Charles Street
South Perth WA 6151 • P.O. Box 752 South Perth WA 6951
Telephone: +61 (08) 9367 2111 • Facsimile: +61 (08) 9367 2144 • reception@extres.com.au
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Extract Resources
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DEVELOPMENT STAGE |
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CODE : EXT.AX |
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ISIN : AU000000EXT7 |
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Extract Res. is a gold development stage company based in Australia. Extract Res. develops gold and uranium in Australia and in Namibia, and holds various exploration projects in Australia. Its main assets in development are BURNAKURA / NOA2 in Australia and ROSSING in Namibia and its main exploration properties are UIS and HUSAB in Namibia and BURNAKURA and TUCKABIANNA in Australia. Extract Res. is listed in Australia, in Canada and in Germany. Its market capitalisation is AU$ 2.7 millions as of today (US$ 1.7 millions, € 1.6 millions). Its stock quote reached its highest recent level on February 25, 2011 at AU$ 9.92, and its lowest recent point on September 08, 2023 at AU$ 0.01. Extract Res. has 243 552 298 shares outstanding. |