WME 11.5% 14.5¢ west australian metals ltd

west australian metals looks to increase grade

  1. 1,592 Posts.
    International uranium company West Australian Metals (ASX: WME) has unveiled more excellent results from the final batch of down-hole probe work undertaken within the resource area at its 80%-owned Marenica Uranium Project in Namibia.

    The results, which saw shares in West Australian Metals increase 7.7%, or 1c, to 14c, have led the company to schedule a full resource upgrade for the early part of 2010 as the foundation to advance the project towards production.

    Preliminary testwork has shown that by screening and scrubbing ore grades could be increased by up to 375% prior to processing.

    In the latest results, the down�]hole geophysical probe survey was completed during November, and included probing of previously un�]assessed historical drill�]holes from the main Marenica resource area as well as exploration holes drilled by WME at the regional Springbok prospect.

    Significant final down-hole probe results received from historical drill holes at Marenica with better intersections including 14.6m @ 363ppm eU3O8, 19.8m @ 313ppm eU3O8, 12.5m @ 621ppm eU3O8, 7.9m @ 1,256ppm eU3O8 and 13.6m @ 406ppm eU3O8.

    The calculated weighted mean of significant intersections for the final 355 re-probed historic holes is 196ppm eU3O8.

    This is in excess of the recently announced interim resource grade of 140ppm U3O8.

    This interim upgrade was based on results received up to the end of September 2009 (approximately 39% of the total). The January 2010 resource will include all results received since then, including the final probe results announced today.

    This announcement follows on from encouraging metallurgical results announced for the Marenica Project last week.




 
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