EPL 3138, 3439 – 637 km²

Bordering Rio Tinto’s Rossing Mine to the north and 25km to the Langer Heinrich project to the east, the Husab Project covers an area of 637 km²  and contains several uranium prospects ranging from grass roots exploration through to advanced resource definition. The area has also been mined for copper and flurospar. The main focus for Extract is defining a significant uranium resource base that can under pin profitable and sustained production.

The main target areas include:

Rossing South is 5 km south of the Rossing Mine – a mine that has had 30 years of uninterrupted operation @ 300ppm U3O8. Rossing and Rossing South share the same stratigraphy with potential extensions of 15 km into EPL 3138. Extract is yet to fully explore the potential of Rossing South - early investigation of previous drill holes and recent drilling has intersected alaskite with anomalous levels of uranium mineralisation. Four lines of drilling in recent months have produced significant results both from lab assay and hand-held spectrometer - the company announced its first JORC-compliant resource of 108 mlb U3O8 at a grade of 430 ppm. Rossing South represents the first significant New Discovery in the area for many years.

The Ida Dome - a synformal structure with approximately 10,000 metres of Uranium mineralisation defined by ground radiometrics (pdf 269kb) and follow up ground spectrometer surveys. The area contains seven different prospects that are either JORC compliant or are at the resource definition stage; these include Ida Central, Swakop West, Garnet Valley, Hook, New Camp, Hollands Dome and Ida East. 

Hildenhof is the eastern extension of the Goanikontes dome and has an indication of anomalous uranium over 2,000m of strike.

The main deposit types being investigated include alaskite and calcrete hosted uranium mineralization. Alaskite hosted primary uranium deposits are leucogranites that have exploited pre-existing structures, such as unconformity surfaces, and occur as extensive sheet-like intrusions and anastomising dykes. The best example of this style of mineralisation - bulk tonnage and low grade - is the Rossing deposit. The Ida Dome targets are one of four known occurrences of this style of uranium mineralisation in Central West Namibia - the others being Rossing, Goanikontes and Valencia.

Much of the Husab project area is dominated by flat desert peneplain cut by major drainage systems, such as the Swakop and Khan Rivers and tributaries. These areas are prospective targets for defining palaeo channel and calcrete hosted mineralisation. The best example of this style of mineralisation in Namibia is the Langer Heinrich.

Rossing South

Located about 5km south of the Rossing Mine, this is an area which is interpreted to contain the folded extensions of the stratigraphy hosting the Rossing deposit alaskites. The area is characterised by a flat peneplain surface with sands and gravels obscuring the underlying lithologies.

First vertical derivative, air borne magnetic data clearly indicates that the Rossing stratigraphy trends into EPL 3138. This has been verified in the field with the first ever drilling in the area intersecting alaskites with anomalous mineralisation. Recent work in this area continues to define the potential of this highly prospective zone.

Surface coatings of carnotite (secondary uranium mineral) in calcretes have also been mapped in the area with potential to define additional secondary hosted uranium mineralisation.

map pdf | larger image

On February 1 2008, Extract released the first ever drill holes into the Rössing South zone which included an intersection of 40 metres at 240ppm U3O8 (including 8 metres at 998 ppm U3O8), and 100 metres at 265 ppm U3O8 (including 69 metres at 321 ppm U3O8. The results were the establishment of a new uranium discovery. Normally, uranium mineralization is identified by radiometric testing on surface.

The mineralization at Rossing South is covered by approximately 30 metres of overburden which completely eliminates any radiometric signature. The drilling at Rössing South was aimed at testing a magnetic low feature interpreted to represent the Khan and Rössing Formation unconformity surface. The uranium mineralised alaskites at the Rössing Mine and around Ida Dome generally occur proximal to this surface.

Reconnaissance exploration drilling has now been completed on 4 separate lines each 1,600 metres apart with holes spaced on 80 metre centres and a fifth hole, 400m to the north. Assays are not yet available for most these holes, but hand held spectrometer analysis returned values up to 2,520 ppm uranium metal (0.25% U or approximately 0.295% U3O8). Subsequent downhole spectral logging has provided a number of highly encouraging readings.

These holes have now outlined a mineralized body in two zones - Zone 1 and Zone 2 - each with an indicated strike length of approx 2,400 metres (open to the East and South) and a width of approximately 180 metres to a depth of approximately 300 metres.

On January 27th 2009, less than one year since the initial discovery was announced, the Company released its initial resource estimate, following JORC Code and Canadian NI 43-101 guidlines :- 108 million pounds U3O8 at a grade of 430ppm, using a lower cut-off at 100ppm giving 115 million tonnes of contained metal. In June 2009 infill drilling provided an upgrade to the maiden resource to produce a JORC estimate of 145 million pounds of U3O8 at a grade of 449ppm (in both indicated and inferred categories).

In July 2009, the company released the maiden resource for Zone 2 - 122 m.lbs U3O8 at an impressive grade of 543ppm.

Zones 1 and 2 now provide a combined resource of 267 m.lbs U3O8 at 488ppm.

Hence, the initial targets set by the Company for Zone 1 and Zone 2 have been exceeded, and drilling continues to define the resource and determine new targets along strike.

map pdf