The Njame deposit is located around 8km to the south, where measured and indicated resources containing 4.2 Mlb U3O8 at an average grade of 293 ppm U3O8 have been discovered.
Infill sampling is currently in progress to refine the anomaly and assist with the planning of a drilling programme. Reverse circulation drill testing of the
anomaly will be undertaken as a matter of priority.
The evaluation of this target is part of a larger programme of exploration drilling which is scheduled to commence during the current quarter. This is primarily designed to locate additional resources within economic trucking distance of the Njame deposit.
Geochemical Soil Sampling Programme
The Siamboka prospect occurs 8km north of the company’s Njame uranium deposit in the Chirundu uranium project in southern Zambia. The prospect was identified through an airborne radiometric survey which highlighted anomalous uranium response over sedimentary rocks which are interpreted to represent the fault offset continuation of the mineralised sandstones and siltstones at Njame.
Field evaluation of the prospect commenced in early July and includes geological mapping and an assessment of uranium content of the soils on a 400m x 25m grid pattern. The uranium content in soils was established at each grid point using a calibrated RS-125 spectrometer in assay mode. Results to date indicate that anomalous uranium levels occur over a strike length in excess of 5km and up to 0.6km wide. The uranium anomalism is spatially related to the contact between siltstones and coarser grained pebbly grits. Similar contacts are mineralised at both of the nearby Njame and Gwabe uranium deposits.
The soil anomaly is parallel to the strike of the sedimentary rocks. A peak value of 32 ppm U was recorded by the RS-125 spectrometer, which is the equivalent of 38 ppm U3O8. The overall anomaly is defined by the 8ppm U contour (10 ppm U3O8 equivalent) which represents the top 5% of the results. The main anomaly remains open to the northeast (along-strike), and a subordinate anomaly remains open to the southwest (also along strike). Further sampling to close off these anomalies is in progress, and infill sampling will be undertaken to refine the anomalies prior to drill testing.
Forward Exploration Programme
The field evaluation of the Siamboka target is part of a systematic programme of exploration which has commenced on the Chirundu and Kariba Valley uranium projects in southern Zambia. This programme is aimed at discovering additional mineral resources which are within economic radius of the Njame deposit where, subject to the successful completion of feasibility studies and project financing negotiations, the company will build a uranium mine and central uranium processing facility.
