Sydney, Mar 27, 2006 AEST (ABN Newswire) - Directors of Korab Resources Limited (ASX: KOR) are pleased to announce that Korab has secured additional 48 square kilometres of uranium exploration ground near Rum Jungle historic uranium mine 75 km south of Darwin in the Northern Territory.
This brings the total area of Korab's exploration ground within this historic uranium producing province to 190 sq km and makes Korab one of the lowest cost entries into the Australian uranium sector.
The ground, comprising exploration licence applications ELA25132 through ELA25137 and ELA25242 through ELA25244, lies between the Batchelor project and the Green Alligator project.
The leases cover ground prospective for uranium and gold and are adjacent to the ground owned by Compass Resources which contains several uranium and gold anomalies.
Korabs explorations efforts will be targeting unconformity style uranium mineralisation within middle and lower Proterozoic units.
About Korab Resources Limited
Korab Resources Ltd (ASX:KOR) is an international mining and exploration company with operations in Australia and Europe. Korab's projects include Winchester magnesium carbonate deposit and Geolsec phosphate rock deposit at Batchelor in the Northern Territory of Australia as well as a gold and silver deposit at Bobrikovo in eastern Ukraine. The Company also explores for gold and copper at Ashburton Downs in Western Australia and for various metals and specialty minerals at Batchelor in the Northern Territory. Korab's shares are traded on Australian Securities Exchange (ASX) and on the Berlin Stock Exchange (Berliner Börse) through Equiduct electronic trading platform. More information about Korab's projects can be sourced from Korab's website at www.korab.com.au.
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