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EXTRACT ASX EXT on the way to 500m pounds of Uranium

November 7th, 2009

From the 2009 Annual report

JORC compliant global resources of 292Mlbs U3O8 (Rossing South + Ida Dome)

Indicated and inferred from Rossing South of 267M U3O8 Jorc compliant plus the company announced an exploration target for areas not included in the current resource estimates. From these additional areas the company had set an initial target in the range of 185-285 Mlb of U3O8.

Again from the annual report: With the new zones of mineralisation emerging our resource target of 500mlbs U3O8 from the current drilling program is within reach.

The image puts it all into perspective:
nambia-uranium-by-metal

Extract resources now one of biggest new uranium finds worldwide

July 2nd, 2009

This has been a wonderful story and it seems to be getting better all the time.

Excerpt from today’s Miningenews.net
Extract grows Rossing South again
Kate Haycock
Thursday, 2 July 2009

EXTRACT Resources has increased the resources at its flagship high-grade Rossing South project by 34% to 145 million pounds of uranium, firming the deposit’s position as one of the biggest new uranium discoveries in the world.
It has been a tough year for the company with corporate raids from the United Kingdom and an attempted board ousting that has ended with managing director Peter McIntyre resigning from his position.

Despite the boardroom drama, Extract has continued to push ahead with exploration at its flagship Rossing South project.

The resource upgrade announced today has upped resources at Rossing South to 145Mlb of uranium at a grade of 449 parts per million uranium.

The overall estimate includes an indicated resource of 21 million tonnes at 527ppm uranium for 24Mlb uranium, and an inferred resource of 126Mt at 436ppm uranium for 121Mlb uranium.

Perth-based Extract said Rossing South was proving itself as the highest-grade granite-hosted uranium deposit in Namibia.

The next step for the company is to define a resource at the Zone 2 area, with the resource due in August.

The project has attracted a great deal of interest, with Rio Tinto buying into the company last year, and the corporate drama from UK companies Kalahari Minerals and Polo Resources proving Extract has attracted a lot of attention.

(IMO BMN will soon be shown to have a similar resource.)