Sydney, Jan 18, 2008 (ABN Newswire) - Western Metals Limited (ASX: WMT) is pleased to announce the discovery of two new uranium prospects within its Tanzania exploration area. Drilling has also continued to extend previously intersected uranium mineralisation at the Mtonya Project, identifying high grade uranium over a strike length of 4km. WMT continues to deliver on its stated exploration objectives and complete work programmes both on budget and on schedule.
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New Discoveries
Results from the regional helicopter supported field reconnaissance programme carried out in November 2007 are considered very exciting. This work has resulted in the discovery of two new important mineralized systems, Foxy and Eland, in the Ruvuma project area. The prospects are located approximately 60km south-east and 110 km south-west of Mtonya respectively.
Foxy Prospect - mineralisation at Foxy is related to a hematised sandstone bed exposed over an area of approximately 0.5km2. Counts up to 20,000 counts per second (cps) were found in association with the abundant yellow secondary uranium mineral, uranophane. A grab sample taken from the eastern edge of the anomaly returned an assay result of 13,400 parts per million (ppm) U3O8.
Eland Prospect - mineralisation is associated with a banded, leuco gneiss. WMT geologists located an area of anomalism of approximately 0.6km2 with hotspots up of up to 4,000cps. Grab samples collected from the area returned assay results of 141ppm U3O8, 440ppm U3O8 and 1,080ppm U3O8.
The discovery of a new type of uranium mineralisation in basement rock in SW Tanzania is extremely encouraging. The potential presence of this type of mineralisation opens up a number of possibilities and warrants the re-evaluation of a number of highly significant airborne radiometric anomalies that were previously downgraded and dismissed as anomalous basement.
Mtonya Uranium Project
Results from the recently completed RC drilling programme at Mtonya continue to provide encouragement for this project. This third phase of RC drilling has delivered more significant intercepts and extended the area of subsurface uranium mineralisation. Significant intercepts from the October drill programme include;
- 4 metres at 737ppm U3O8 from 44 metres
- 1 metre at 1140ppm U3O8 from 25 metres
- 2 metres at 970ppm U3O8 from 20 metres
- 3 metres at 216ppm U3O8 from 61 metres
An aggressive and ambitious work programme supported by a substantial exploration budget has been planned for SW Tanzanian uranium exploration for 2008. The budget is expected to be in the order of $4 million during which Western Metals will achieve 60% ownership of the URA Farm-in tenements by approximately June 2008. Our Joint Venture partner URA Resources plc, will also be contributing financially to this exploration programme.
The planned programme will include RC drilling, airborne radiometric, ground based geological, geophysical and geochemical surveys.
Our Tanzanian team will be strengthened with the addition of a second senior geologist, dedicated field technicians, drivers and a logistics officer. Technical support will continue to be provided by Western Metals' Perth based team.
Contact
George Bauk
Managing Director
Tel: +61-8-6380-3600
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