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About this update from Gcm Resources Plc
[{"type":"text","content":"\n RNS Number : 5220M GCM Resources PLC 30 January 2009 \n \nGCM Resources plc \n\nGCM RESOURCES PLC - AURA ENERGY LIMITED JOINT VENTURE DEFINES WIDESPREAD STRONG URANIUM MINERALISATION IN NORTHERN MAURITANIA\nAura Energy Limited (ASX:AEE), with which GCM Resources plc (GCM) has a joint venture, made the following announcement today covering the joint venture exploration activities in Mauritania. In addition to its joint venture, GCM has an 18.5% interest in the ordinary shares of Aura Energy Limited.\n\n\n\nThe second phase of sampling in the Oued Foule Est permit confirms the presence of widespread, significant uranium grades at surface\n\n\n\n\n\nUranium mineralisation, ranging up to 2217 ppm U3O8, was located in shallow sampling pits, \n\n\n\n\n\nThe uranium mineralisation is located within zones of strong radiometric response defined by ground geophysical surveying.\n\n\n\n\n\nWithin one 3.0 km long radiometric zone in Survey Area A, 10 out of 15 sample pits contained significant uranium mineralisation averaging 810 ppm U3O8. \n\n\n\n\n\nMineralisation appears to be as strong at the base of the pits as at surface\n\n\n\n\n\nThe mineralisation lies within a 1400 km2 exploration permit held under Aura / GCM joint venture.\n\n\n\nAura Energy Limited, in joint venture with GCM Resources plc (GCM), carried out a field programme in December 2008 on its Oued el Foule Est exploration permit in Northern Mauritania. The objective of the programme was to test the extent of uranium mineralisation, high grade in places, encountered during previous reconnaissance surveying by Aura. \nThe Joint Venture carried out a programme of detailed ground-based geophysics (radiometrics) over 8 target areas. Additionally a programme of pitting and sampling was conducted. In total 85 shallow pits were excavated to an average depth of approximately 0.7m. Samples were taken for analysis from pit walls and bottoms. \nRegional sampling pits were dug generally on a 500m x 500m grid to determine the extent of mineralisation. In addition, in one area, 12 sampling pits were dug on an approximate 50m grid to determine short range variability. \nIn total, 19 of the pits contained elevated U values ranging from 119 ppm U3O8&n...