Extract Resources has reported new JORC and NI 43-101 compliant resource estimates for its Rössing South uranium deposit in Namibia. Indicated resources in zones 1 and 2 of the deposit now total 241 million mt indicated, grading 480 ppm U3O8 and containing 257 million lb of U3O8; while inferred resources in zones 1, 2, 3 and 4 total 125.5 million mt, grading 400 ppm U3O8 and containing 110 million lb of U3O8. Zones 1 and 2 are the subject of a definitive feasibility study currently in progress.
Extract also reports high-grade uranium assays have been returned from a newly discovered zone 5, approximately 3 km south of zone 2 along the regional strike of the deposit. Drilling has now shown that the geological structure hosting uranium mineralization at Rössing South is consistently mineralized over a strike length of 9 km. Approximately 6 km of the Rössing South anticline remain to be drilled.
“Our immediate priority remains completing the definitive feasibility study on zones 1 and 2 to bring these deposits into production within the shortest possible time frame,” said Extract’s Managing Director Jonathan Leslie.