UraMin is pleased to announce an additional 50 reverse circulation ("RC") drilling results from the Patricia Deposit, the largest of the 10 historically identified uranium deposits making up the Bakouma Project in the Central African Republic ("CAR"). Further mineralisation has been encountered with higher grade intersections along the full strike length of the Patricia Deposit:
- 25 m at 0.3% U(3)O(8) from 75 m depth in drill hole PRC024
- 45 m at 0.4% U(3)O(8) from 61 m depth in drill hole PRC025
- 32 m at 0.15% U(3)O(8) from 23 m depth in drill hole PRC029
- 40 m at 0.25% U(3)O(8) from 30 m depth in drill hole PRC034
- 6 m at 0.21% U(3)O(8) from 44 m depth in drill hole PRC039
- 12 m at 0.46% U(3)O(8) from 35 m depth in drill hole PRC045
- 19 m at 0.35% U(3)O(8) from 12 m depth in drill hole PRC052
- 23 m at 0.16% U(3)O(8) from 17 m depth in drill hole PRC056
- 13 m at 0.18% U(3)O(8) from 13 m depth in drill hole PRC058
The open ended mineralization at depth and higher grade intervals identified confirm the potential to exceed the existing historically identified exploration target for Bakouma. It is anticipated that a NI 43-101 compliant resource statement will be completed on the Patricia deposit in March 2007.
Assay results received thus far for 67 drill holes, of the total of 166 drilled on the Patricia Deposit, have indicated U(3)O(8) values ranging between 0.15% (over 32 metre composite width) to 0.46% (over 12 metre composite width). Within these composited intervals individual samples, representing vertical intersection widths of 1 metre, range in grade from 0.01% to as high as 2.4% U(3)O(8). These results confirm the occurrence of uranium mineralization at grades and widths similar to that documented by the previous studies.
The uranium mineralisation at Bakouma occurs as pods and lenses within phosphatic sediments contained by northeast to southwest aligned depressions that were created by karstification of the Bakouma dolomite. The uranium mineralisation of the Patricia Deposit has been identified over an area of 850 metres by 250 metres with vertical widths ranging between 85 metres and 15 metres. In the current drilling program uranium mineralization has been intersected from depths below surface ranging from 8 metres to 50 metres extending downward to 105 metres (the maximum depth for the results of the drilling thus far).
An airborne helicopter based radiometric and magnetic survey was recently completed. The survey totalled 14,510 line km over an area of 1,400 km2. The survey covered the known mineralized areas around Bakouma, as well as the newly acquired areas to the east and abutting the Bakouma Mining License. The data is currently being processed and interpreted in order to delineate potential targets for follow-up investigation.
Mr. G M Greenway, Pr.Sci.Nat. (SACNASP), MSAIMM, MGSSA, Divisional Manager of Mr. G M Greenway, Pr.Sci.Nat. (SACNASP), MSAIMM, MGSSA, Divisional Manager of Snowden Mining Industry Consultants, is the qualified person responsible for the Bakouma drilling program and has verified the data reported above. Mr Greenway is an independent consultant to Uramin, with no interest in the company and has consented to the inclusion in this announcement of his name in the form and context in which it appears.
Exploration data is acquired by UraMin using best practice quality assurance and quality control protocols. Reverse circulation percussion chip assay samples are collected by appropriately qualified personnel and are assayed at SANAS accredited laboratories in Johannesburg, South Africa; Set Point Laboratory (SANAS No. T0223) and ISO/IEC 17025, SGS Lakefield Research Africa (SANAS No. T0169) and Mintek Analytical Services (SANAS No. T0042). U(3)O(8) assays are performed using x-ray fluorescence spectrometry on a pressed powder pellet. Samples containing more than 2000ppm uranium are re-analysed by XRF using a fused disc. Quality control procedures follow industry best practice and include the use of blind control samples. --
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