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Stmt re Exploration Licence
Stmt re Exploration Licence.
About this update from Gcm Resources Plc
[{"type":"text","content":"\n GCM Resources PLC\n07 May 2008\n\n7 May 2008\n\n PRESS RELEASE\n\n\n\n GCM Resources plc\n\n\n\n GCM AND AURA LOCATES URANIUM MINERALISATION IN ITS NEWLY AWARDED LICENCES IN\n MAURITANIA\n\n\n\n\n\n\n\nGCM Resources plc ('GCM or the Company') (AIM: GCM), in alliance with Aura\nEnergy Limited ('Aura') (ASX: AEE), is pleased to announce that it has been\ngranted three uranium exploration licence areas in Mauritania.\n\nThe licences cover 3600 km2 in Mauritania which is known for uranium\nmineralisation and multiple radiometric uranium anomalies.\n\n\n\n\n\nHighlights\n\n\n\n• Uranium mineralisation, in the form of uranium vanadate, has been\nobserved in all three licences in seven widely spaced shallow pits at grades\nranging from 158 ppm to 3270 ppm U. (from individual 2 kg samples)\n\n\n\n• The licences contain multiple strongly anomalous uranium channel\nradiometric zones outlined from airborne surveys ranging in area up to 3.5\nsquare kilometres. The mineralised pits lie on five of these anomalous features\n\n\n\n• The licences cover 3600 km2 in the uranium-bearing Requibat Shield in\nnorthern Mauritania\n\n\n\n\n\n\n\nThe three newly acquired licences contain strongly anomalous uranium channel\nradiometric zones ranging in area up to 3.5 square kilometres, defined by\nairborne surveys. Recent field reconnaissance by Aura within these areas\nlocated visible uranium mineralisation (uranium vanadate) in each of seven\nshallow pits (to 1.2m) on five separate radiometrically anomalous zones. Uranium\ngrades associated with visible uranium mineralisation in the pits range from 158\nppm to 3270 ppm U, with four of the pits returning assays greater than 2000 ppm\nU. The limited reconnaissance work to date has not indicated whether the uranium\nmineralisation extends below these shallow pits.\n\n\n\nThe licences cover predominantly Precambrian granitic intrusive rocks with\nremnants of meta-sedimentary and volcanic rocks. Drainage channels and calcrete\noccurrences occur within the licences and offer sites for uranium concentration.\n Two of the licences (Oum Ferkik and Oued el Foule Est) have been covered by\nhigh quality regional airborne radiometric / magnetic survey on 700m spaced\nlines. Most of the third licence (Ain Sder) has not been covered by this\nairborne survey. However, the small portion of the Ain Sder licence ...