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« China to Build More Nuclear Plants | Main | Washington Capitulates: Peak Oil Is Real »
Sunday
Aug302009

Extract Resources Limited Hits Ten Bucks on the ASX

EXT Chart 31 August 2009.JPG

The shares of Extract Resources Limited (ASX/TSX: EXT) hit ten bucks today following the media release regarding the confirmation of additional zones of uranium mineralization at Rossing South. As we write Extract is up $0.48 or 5.05%, on the ASX.

The highlights are as follows:

• Zone 3 - Chemical assay results confirm strong uranium mineralization, 1.2km south of the current Zone 2 resource area.

• Strongly anomalous hand held spectrometer results, 2.4km southwest of the current Zone 2 resource area.

• Abundant high grade results continue to be returned from Zone 1 and Zone 2.

• Eight holes completed so far at the Salem prospect, 10km south of Rossing South.

All have returned numerous anomalous mineralised intercepts.

Mr. Peter McIntyre, Managing Director, Extract Resources added the following comments “The rapid growth of Zones 1 and 2 is now being complimented by the potential of a third zone of mineralisation along the same Rossing South trend. The potential of the entire 15 kilometre trend is enormous, with some degree of mineralisation being encountered on every line drilled to date.”

“The Company intends to add further value to the project through ongoing exploration and resource definition drilling aimed at defining the full potential of the project. The Company is also, pushing ahead with the Rossing South Feasibility Study on Zones 1 and 2 to get the project into production in the shortest possible time frame.”

To read the news release in full please click here.


Have a good one.

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