London, England — MININGREVIEW.COM — 29 May 2009 – Kalahari Minerals plc – the AIM-listed mining exploration and evaluation group with a portfolio of uranium, copper and base metal interests in Namibia – says the high grades found at its Rossing South deposit in Namibia continue to indicate that it is part of one of the largest uranium projects in the world.
Revealing this in a statement issued here, the company said that the latest drill results suggested a resource estimate of more than 200 million pounds of uranium oxide (U3O8) for Zone 1 and 2 of Rossing South.
Kalahari holds a 39% stake in Australian-based Extract Resources Limited – owner of the Rossing South deposit.
Extract Resources is an Australian-based uranium exploration company whose primary focus is Namibia. The company’s principal asset is its 100% owned Husab Uranium Project which contains two known uranium deposit areas, Rossing South and Ida Dome. Extensive exploration potential also exists for new uranium discoveries.
Kalahari chairman Mark Hohnen commented: “Rossing South continues to yield fantastic results and highlights yet again that this uranium project is world class. With the project moving at pace, and with Extract referring to the potential of Rossing South as being a very large uranium producer, I would like to reiterate our call that it is now time for the relocation of Extract and its management to Namibia to ensure that this project is developed rapidly and to the benefit of all parties,” he added.