Business
Drilling Update
Drilling Update.
About this update from Uru Metals Limited
[{"type":"text","content":"\n Niger Uranium Limited\n29 January 2008\n\n\nFor Immediate Release 29 January 2008\n\n\n\n\n Niger Uranium Limited\n\n ('Niger Uranium' or 'the Company')\n\n\n 2008 Exploration Drilling Campaign has commenced on Niger Licenses\n\n\n Results of surface rock-chip samples - U3O8 grades of up to 0.98%\n\n\n •2,500 metre Phase 1 drilling and trenching programme commenced on 18\n (eighteen) targets within the Irhazer and In Gall licenses. Drilling to be\n completed by March 2008.\n\n\n •Drilling initially focusing on the more southerly targets where a number\n of surface grab samples and geological mapping indicate strike extensive\n stratiform mineralization, exposed at surface. The target is a Large\n Open-Pittable resource. U3O8 by XRF for 13 surface samples from these\n targets range from 45 to 880 ppm (0.088 %).\n\n\n •Groundwork on the northerly, structurally controlled targets is underway.\n Mapping, ground magnetics and track-etch radon detection work will commence\n in early February. U3O8 by XRF for 13 surface samples from these targets\n range from 45 to 9,829 ppm (0.98 %) - multi-element analyses on these\n samples revealed up to 1% Copper. These results confirm the highly\n prospective character of these targets.\n\n\n •A significant dataset was received from Areva, containing large amounts\n of historic data for Niger Uranium license areas and surrounding areas. This\n data is currently being catalogued and interpreted and will assist with\n target generation and help fast-track the exploration programme.\n\n\n •Work on the southerly targets at Irhazer and In Gall is unaffected by the\n localized security problems experienced elsewhere in northern Niger but the\n situation is being carefully monitored. An independent risk assessment is\n underway.\n\n\n\nNiger Uranium has commenced a preliminary 2,500 metre drilling programme on its\ntargets within the Irhazer and In Gall licenses in Niger. 352 metres of tri-cone\ndrilling have been completed to date. Radiometric probing is underway. Phase 2\nwhich currently consists of 7,500 drilled metres will commence April 2008.\n\n\nDuring mapping carried out late 2007 to assist with borehole planning, twenty\nsix surface samples were collected. These samples were analysed at SGS Lakefield\nof Johannesburg in early January 2008 and the results for U3O8 range from 45 to\n...