Resource Star, an Australian company with interests in uranium and uranium associated exploration assets, has commenced the mineral resource estimation work on the Livingstonia Uranium joint venture, in Malawi. Resource Star and Globe Metals & Mining have signed a JV agreement to explore the Livingstonia Project.
The company said that due diligence on the project is underway, and as part of the work to date, it has reviewed Globe’s drill database, and following an encouraging initial assessment, it has commenced work on a mineral resource estimate for the strongly mineralized areas of the project.
At the Chombe prospect more than 72 out of a total of 81 holes are mineralized (that is, with at least one continuous interval with a grade-thickness >200ppm.m eU3O8). The mineral resource estimate is expected to be complete by mid June of 2010.
The work is being completed by an independent expert, CSA Global, whose consultants are experienced in uranium mineral resource estimations, the company said.
A drilling program undertaken by Globe during 2007 and 2008 appears to demonstrate reasonably consistent tabular mineralization in a gently-dipping horizon towards the base of a relatively permeable sandstone unit lying between a basal coal measure and a mudstone cap. Local thickenings and stacked horizons of mineralization have also been identified.
The mineral resource estimate will be completed to determine the extent of, and to better understand controlling trends within, the drill-defined mineralization. The results of this work will provide Resource Star with targets for the 2010 drilling program, primarily to find extensions to the known mineralization.