Two related EXT announcements located which are positive.
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1. Located the following article today from "MiningNews.net".
This provides better explanation of yesterdays ASX EXT announcement of July 19 2006.
http://www.miningnews.net/StoryView.asp?StoryID=62290 states:
Extract strikes it rich
Ben Sharples
Thursday, July 20, 2006
FIRST pass drilling at Extract Resources' Husab joint venture in Namibia has returned a number of uranium hits, including an unexpected "very rich zone" of 0.5m at 9.59 kilograms per tonne of uranium oxide.
Extract Resources director Peter McIntyre told MiningNews.net drilling had encountered a very rich but narrow zone of uranium at the Ida Dome, which has a radiometric signature of up to 4km long.
"The Husab area is about 550 square kilometres so it's a fairly significant footprint and all we've been focusing upon so far is those areas where we've had strong radiometrics signals, the first of those targets is what we call the Ida Dome," he said.
"As we analyse those holes, there's a couple of interesting results, particularly very high up in the system we've encountered a very rich zone of uranium, it's quite narrow but it's enriched and that was somewhat of a surprise.
"That in itself warrants us to go back and start putting in some closer spaced drilling around that enriched zone just to see if it does continue, to see what sort of grades and widths we can get out of that particular pocket."
Results from the ongoing 8000m campaign at Ida Dome include hits of 4.5m at 1.24kg/t of uranium oxide, including 0.5m at 9.59kg/t, 2m at 1.01kg/t, 10m at 0.335kg/t, and 10.25m at 0.26kg/t.
"Our first drilling is focusing on a 700m strike extent of the 4km radiometric anomaly so it's very widely spaced. It's not going to be a mine that is 4km long but within that we hope we're able to identify some economic zones," McIntyre said.
He said regionally there were a host of other targets that would be drilled in due course, including a geological structure in the northwest of the tenement close to Rio Tinto's Rossing Mine, and a geological structure to the south of the project area which appears to be part of the Goanikontes deposit, held partly by Bannerman Resources.
"There's another area on our ground which we're quite interested in is looking for palaeochannel potential or secondary hosted calcrete deposit, which is more like the Langer Heinrich deposit that Paladin Resources is developing," he said.
Extract has completed its 51% farm-in to the project by spending $400,000 on exploration, with West Africa Gold, a wholly owned subsidiary of Alternative Investment Market-listed Kalahari Minerals, holding the balance.
McIntyre said the joint venture would look at spending in the order of $2-3 million on exploration of the next 12 months.
"That should certainly make some inroads to each of the targets we've been generating," he said.
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2. London Stock exchange announcement stated:
http://www.lse.co.uk/ShareNews.asp?...rts_positive_results_at_Namibian_uranium_site
Share News for Kalahari Min (KAH)
Wednesday, 19th July 2006 09:56
Kalahari Minerals reports 'positive results' at Namibian uranium site
LONDON (AFX) - AIM-listed Kalahari Minerals PLC says it has received positive results for purity at its uraniam drilling site in Namibia.
The data came from four test holes at the Husab uranium project, a 49-51 joint venture with Extract Resources Namibia (Pty) Ltd.
The results reinforce earlier survey data that the area has significant uranium potential, Kalahari noted.
'The board's confidence in the Husab uranium project is increasing as the ongoing drill programme continues to produce positive results. These results indicate that the geology is similar to the other major uranium deposits in the region and we expect to see further positive indicators as the two-rig 8,000 meter drill programme continues,' chief executive Peter McIntyre said.