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stockhouse post

  1. 3,704 Posts.
    This is a copy/paste from StockHouse.com on the EXT thread. It is by former HC member Uncle Barry. I thought it was worth sharing this on the EXT thread.

    ....................................................

    Good afternoon.

    It would appear some people have missed the exciting part of the last Announcement on the 25th of this month from Extract.

    Lets have a look at some facts,

    1 Quote from the Report, (Q)
    "uranium mineralisation extends over a zone of at least 3.2 kilometres along regional strike"
    The key word being, AT LEAST.

    2 Q
    "Width of mineralised system at least 160 metres on discovery Line 1 and anomalism over 500 metres wide on Lines 2 and 3."
    "The key word being, AT LEAST."

    3 Q
    "The Rossing South target area extends for 15 kilometres onto Extract’s licence, and is covered by desert sands."
    "The key words being, 15 KILOMETRES."

    4 THEREFORE
    The potential of this ore bearing zone could MOST LIKELY be roughly or even LARGER than, 500mters wide x 15 kilometres long and 300 to 400metres deep.
    This to me is the exciting section of the Report.

    5 The RIO Rossing mine is 3 kilometres x 1.5 k's x 330 metres deep.
    This has been a 30 year plus life mine that employs roughly 1,500 people, including contractors.

    6 It would be reasonable to guess that EXTRACT's Rossing South zone could have a mine LARGER than RIO's Rossing mine.
    This to me is the exciting section of the Report.

    This fact shines as an example of the potential of EXTRACT's monster potential in the very near future.

    And totally excludes the grading of U found.

    This one zone, (one of many that EXTRACT has discovered) has the potential of being a Company maker in its own right !
    This to me is the exciting section of the Report.
    BUT, there is more, other zones producing amazing grades.
    AND other zone that have not been drilled and tested yet !

    7 The suggested idea that EXTRACT may, or possibly use the RIO processing plant for their early recovery of U.

    This would appear 'easy' and as a bonus save money on the distance travelled and turn around time by the dump trucks.

    Because if there is a connection to RIO, who use a trolley system to move their trucks after they have left the 'hole' to the selected grade of U dump site.

    The trucks just drive onto the trolley system, are screened for the grade of U contained within their load and directed to the dump area of that grade of U, and then return to the 'hole' via the trolley.

    THEREFORE
    EXTRACT could extend this trolley system to meet their 'hole'.
    And with a huge saving in costs and truck turn around time, just like RIO have found.

    Kind regards,
    UB
 
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