Perth, June 28, 2006 AEST (ABN Newswire) - Korab Resources Ltd (ASX: KOR) advise that it has received from the Northern Territory Department of Primary Industry, Fisheries and Mines a notice of intent to grant Exploration Licences EL25132-EL25135 (inclusive) in the Northern Territory.
The licences cover the area immediately to the north, north/east and east of the Batchelor JV and extend over approximately 5 km length of the contact zone between the Coomalie Dolomites and the Whites Formation within Mount Partridge Group.
This contact zone hosts the majority of the uranium mineralisation within the Rum Jungle complex, including the Rum Jungle and Rum Jungle Creek South mines. The mines around Rum Jungle complex produced approximately 17.5 million pounds of uranium oxide from 1954-1971.
The grant of the licences will enable Korab to bring forward the commencement of our exploration program within the area covered by the licences to coincide with the drilling programs at the Batchelor JV and at the Green Alligator project which are scheduled to start in late July / early August 2006.
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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