--------------------------------------------------
102 M.tonnes @ 543 ppm for 122 M.lbs U(3)O(8)
--------------------------------------------------
Other Highlights:
- Combined Husab Inferred Resource = 268 M.lbs, plus
Indicated Resource = 24 M.lbs U3O8
- Combined Zone 1 & 2 Inferred Resource = 243 M.lbs, plus
Indicated Resource = 24 M.lbs U3O8
- 84% increase on Rossing South global Resource
- Rossing South ranked in top 10 of global uranium deposits
- Zone 1 and Zone 2 mineralisation still open along-strike and down-dipSOUTH PERTH, Western Australia, July 21 /CNW/ - Extract Resources ("the
Company") today announced a new resource estimate, following JORC Code and
NI43-101 guidelines, for Zone 2 Rossing South.
The maiden Zone 2 resource, combined with the upgraded Zone 1 resource
(TSX release July 2, 2009) shows a total Inferred Resource of 243 M.lbs
U(3)O(8), and Indicated Resource of 24 M.lbs U(3)O(8) which positions Rossing
South as one of the world's largest uranium deposits.
Total resources for Rossing South at 100 ppm U(3)O(8) cut-off is as
follows:-------------------------------------------------------------------------
Rossing Category Tonnes Grade U(3)O(8)
South Total (million) (ppm U(3)O(8)) (M.lbs)
-------------------------------------------------------------------------
Zone 1 Indicated 21 527 24
---------------------------------------------------------
Inferred 126 436 121
-------------------------------------------------------------------------
Zone 2 Inferred 102 543 122
-------------------------------------------------------------------------
Note: Figures have been rounded.Extract's Managing Director, Peter McIntyre said that Rossing South
continues to deliver on the upside, and has well exceeded the original targets
established. The project has grown rapidly from the original discovery
announcement in January 2008.
"That we now have combined resources for Rossing South of 267 M.lbs or
121,000 tonnes of U(3)O(8) at such good grade is a measure of the world-class
quality of the deposit," Mr. McIntyre said. He added that Zones 1 and 2 would
continue to grow as they remain open in multiple directions. "The fact that we
have delivered this after only 18 months of resource drilling gives us
confidence that 300 M.lbs by the end of the year is now within our sights."
More details on the Zone 2 maiden resource estimate are shown in Appendix
1.
About Extract
Extract Resources is an Australian-based uranium exploration company
whose primary focus is in the African nation of Namibia. The Company's
principal asset is its 100% owned Husab Uranium Project which contains two
known uranium deposit areas: Rossing South; and Ida Dome. Extensive
exploration potential also exists for new uranium discoveries, in addition to
the already known occurrences.
Extract is listed on the ASX and the TSX under the ticker symbol "EXT".
For more information on Extract visit www.extractresources.comAPPENDIX 1 - ZONE 2 RESOURCE SUMMARYTo view FIGURES 1-5 please go to
http://files.newswire.ca/476/Extract_Res_Zone2.pdf.
For further information: Peter McIntyre, Managing Director; Richard
Henning, Investor Relations, rhenning@extractresources.com
