Xemplar samples 13,296 ppm U3O8 at Mile 72
2010-11-08 11:13 ET - News Release
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Mr. Simon Tam reports
XEMPLAR PROVIDES UPDATE ON NAMIBIAN URANIUM EXPLORATION
Xemplar Energy Corp. is providing its shareholders with an update on its Namibian uranium exploration program.
Cape Cross uranium project
The Cape Cross project consist of three adjoining EPLs(exploration prospecting licences) which covers a combined area of 2,041 square kilometres and are situated within the uranium corridor in Namibia. World-class uranium mines such as Rossing and Langer Heinrich are located within the uranium corridor, as well as uranium deposits (Trekkopje, Valencia, Rossing South, Idadome, Marenica, Tubas and Etango) which are being developed.
Within the boundaries of Xemplar's current property holdings, General Mining & Finance Corp. Ltd., and Gold Fields Prospecting (Pty.) Ltd. completed a significant amount of trenching as well as a shallow (maximum 25 metres) surface drilling program in the Mile 72 area during the 1970s to expose both pedogenic and primary uranium mineralization. Regional and detailed surface radiometric surveys discovered approximately eight radiometric anomalies of which Mile 72 Area A and Mile 72 Area B were determined as most promising. In "Linning, K. 1973, Myl Sewe-Twee (Pty.) Ltd. Prospecting Grant M 46/3/334, Annual Report 1972 Unpubl. Rep., General Mining and Finance Corporation Ltd.," a combination of two ore bodies (Mile 72 Area A and Mile 72 Area B) was described as ore proven by percussion drilling equalling approximately 200,000 tons grading 0.35 kilograms/ton U3O8. In "Roesener, H. and Schreuder, C.P. (1992). Uranium, 7.1-1-7.1-55. In: Geological Survey of Namibia. (1992). The Mineral Resources of Namibia., 1.1-1-9-17pp.", a probable reserve of 386,000 tons averaging 230 grams/ton was stated. This estimate used "Labuschagne, A.N. 1976. Report on the Damara Mining Company Uranium Proposition. Grant M46/3/399. Unpubl. rep., Gold Fields Prospecting (Pty) Ltd." as its reference (unavailable for viewing). |