Slide 1: Overview of Activities
For personal use only OVERVIEW OF ACTIVITIES Australian Uranium Conference 22 July 2009 Leon Pretorius ‐ Managing Director
Slide 2: Disclaimer
Disclaimer For personal use only While technical information contained in this presentation is based upon an independent technical review, no representation or warranty is made as to the accuracy, completeness, or reliability of the information in this presentation. Any forward looking information i
Slide 3: Competent Person Statement
Competent Person Statement For personal use only • The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Leon Pretorius a Fellow of The Australasian Institute of Mining and Metallurgy. Dr Pretorius has sufficient
Slide 4: The Company
The Company For personal use only • Technically strong pure Uranium Exploration Company • Advanced projects in Namibia and Australia • Well-funded with about $50 million in cash and liquid assets • Top 10 shareholders hold ~47% (Paladin Energy largest at 19.29%) • Top 40 shareholders hold +70% • Sha
Slide 5: Project Activities
Project Activities For personal use only • Exploration spend about $2 million per month • RC and Diamond drilling in Namibia and Mt Isa with + 10 rigs • Combined JORC Code inferred and indicated resources 31,337 tonne U3O8 at 150 ppm for heap leach in Namibia • Aussinanis and Tubas Red Sand drilling
Slide 6: Namibian Projects and Tenements
For personal use only Namibian Projects and Tenements • INCA uraniferous magnetite - primary / hardrock / drill and blast / acid plant • Tubas Red Sand - secondary / free-dig / acid or alkali plant • Tumas, Tubas and Oryx palaeochannels - secondary / free-dig &/or drill and blast / alkali plant • Au
Slide 7: INCA Discovery in 2007
For personal use only INCA Discovery in 2007 Uraniferous Magnetite Core Hole AM 03 returned 115 m at 229 ppm eU3O8 from 14 m under old iron diggings “Low-grade” led us to believe there was little potential AEM anomalies led to renewed drilling a year later
Slide 8: INCA – Iron Diggings (Von Stryk Pit)
INCA – Iron Diggings (Von Stryk Pit) For personal use only
Slide 9: Intricate Metasomatic / Skarn Alteration
Intricate Metasomatic / Skarn Alteration For personal use only
Slide 10: For personal use only
Maximum eU3O8 to EOH – holes mostly only to 100 m For personal use only Grid area for detail JORC Code resource drilling
Slide 11: INCA Project Drilling
INCA Project Drilling For personal use only
Slide 12: Excessive water hampers deep RC drilling at INCA
Excessive water hampers deep RC drilling at INCA For personal use only
Slide 13: Status of Inca Resource Grid Drilling
Status of Inca Resource Grid Drilling For personal use only
Slide 14: South to North Section on 488900E
South to North Section on 488900E For personal use only INCA DEEPS
Slide 15: S–N Long Section 488900E
S–N Long Section 488900E For personal use only
Slide 16: East to West Section on 7476900N
East to West Section on 7476900N For personal use only
Slide 17: Inca Deeps Assays
Inca Deeps Assays For personal use only From To Width eU3O8 cU3O8 Hole (m) (m) (m) ppm ppm INCR152 204 263 59 604 INCRD155 186 241 55 722 incl 200 216 16 1,938 INCR156 209 252 43 424 1,734 INCR139* 206 226 20 INCR147* 210 234 24 544 INCR150R* 233 269 36 634 INCR167* 195 210 15 540 INCR169* 169 191 2
Slide 18: Highly mineralised massive uraniferous magnetite
Highly mineralised massive uraniferous magnetite For personal use only
Slide 19: High Grade Secondary Uranium Mineralisation in Altered Granite at 50 m
High Grade Secondary Uranium Mineralisation in Altered Granite at 50 m For personal use only
Slide 20: INCA Conceptual Pit and Deeps Development
For personal use only INCA Conceptual Pit and Deeps Development
Slide 21: Look-alike INCA Airborne Targets Abound
For personal use only Look-alike INCA Airborne Targets Abound
Slide 22: Summary of INCA Project
Summary of INCA Project For personal use only • Detail resource grid drilling area roughly 500 by 300 metre • All holes in grid being deepened to “footwall” marble marker • Aim to drill out ~8,000 tonne of U3O8 at +400 ppm by October • Will augment plant feed with ore from Red Sand project • Potenti
Slide 23: Tubas Red Sand Trench
Tubas Red Sand Trench Discovery hole 0 to 10 metre at 1,638 ppm U3O8 For personal use only
Slide 24: Tubas Red Sand Trench – channel box sample around discovery hole
Tubas Red Sand Trench – 1 m channel box sample around discovery hole For personal use only Depth in metre XRF Assay in ppm U3O8 0 to 1 92 1 to 2 154 2 to 3 275 3 to 4 493 4 to 5 3,672 5 to 6 1,862 6 to 7 1,472 7 to 8 2,309 8 to 9 853 9 to 10 1,781
Slide 25: Tubas Red Sand Trench – Detail Reserve & Resource Drilling
Tubas Red Sand Trench – Detail Reserve & Resource Drilling For personal use only
Slide 26: Extensive Palaeochannel Development on Tenements
Extensive Palaeochannel Development on Tenements For personal use only
Slide 27: Carnotite in Outcropping Calcrete at Tumas
Carnotite in Outcropping Calcrete at Tumas For personal use only
Slide 28: Tumas JORC Code Resource
Tumas JORC Code Resource of 3,450 t U3O8 at 345 ppm For personal use only
Slide 29: Tumas - Two Mineralised Horizons in Palaeochannel
Tumas - Two Mineralised Horizons in Palaeochannel For personal use only HOLE UTM E UTM N TD FROM TO INT eU3O8 GTM B2.175 0.750 513755 7451845 30 1 19 18 676 12,209 B3.925 6.150 519154 7450079 18 0 13 13 820 10,294 B2.475 0.850 513854 7451532 20 0 10 10 902 8,708 B2.375 0.850 513854 7451633 18 0 12 1
Slide 30: 2009 reconnaissance palaeochannel RC drilling
For personal use only 2009 reconnaissance palaeochannel RC drilling includes 39 m at 1,254 ppm U3O8 from 4 metre
Slide 31: Mount Isa District Projects
Mount Isa District Projects For personal use only
Slide 32: Isa West 2009 Drilling Results
Isa West 2009 Drilling Results For personal use only BAMBINO AND THANKSGIVING RC DRILLING • BBRC 029 - 25 m at 532 ppm eU3O8 from 107 m • BBRC 030 - 27 m at 522 ppm eU3O8 from surface • BBRC 033 - 23 m at 418 ppm eU3O8 from 86 m • BBRC 034 - 19 m at 636 ppm eU3O8 from 115 m • TGRC 023 - 21 m at 490
Slide 33: Thanksgiving discovery section and 2009 drilling results
For personal use only Thanksgiving discovery section and 2009 drilling results ? ?
Slide 34: Why Invest In
WHY INVEST IN For personal use only • A multi-project Company • Project diversity - grade, geographical setting and deposit-type • Sufficient funds to complete present exploration and at least one DFS • Agreements concluded with Namibian Black Economic Empowerment and local Community Partners • High