13th Jan 2009 07:00
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ALBIDON LIMITED |
Level 1 |
|
62 Colin St |
|
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West Perth 6005 Western Australia ARBN 107 288 755 Tel:+6189211 4600 Fax: +6189211 4699 Email:[email protected] ASX Code: ALB AIM Code: ALD |
|
13 January 2009
FURTHER HIGH-GRADE URANIUM INTERSECTIONS IN GWABE RESOURCE DELINEATION DRILLING, CHIRUNDU JV, ZAMBIA
http://www.rns-pdf.londonstockexchange.com/rns/5247L_-2009-1-13.pdf
HIGHLIGHTS:
Diamond drilling (DDH) drilling at the Gwabe uranium deposit in the Chirundu JV continues to deliver good assay results as part of the resource infill drilling programme.
Recently received assay results from infill DDH drilling at the Gwabe deposit continue to demonstrate ore grades and thicknesses of uranium mineralisation, and include:
|
Hole |
From (m) |
To (m) |
Interval (m) |
U3O8 ppm |
|
GWN276 |
15.05 |
26.00 |
10.95 |
684 |
|
GWN306 |
7.00 |
20.70 |
13.70 |
506 |
|
GWN280 |
21.15 |
32.00 |
10.85 |
502 |
|
GWN278 |
17.90 |
35.00 |
17.10 |
314 |
|
GWN307 |
12.05 |
18.20 |
6.15 |
772 |
|
GWN305 |
10.00 |
15.00 |
5.00 |
899 |
|
GWN282 |
14.00 |
29.00 |
15.00 |
298 |
|
GWN266 |
14.00 |
26.00 |
12.00 |
304 |
|
GWN274 |
11.00 |
27.80 |
16.80 |
206 |
|
GWN268 |
20.60 |
29.00 |
8.40 |
396 |
|
GWN298 |
22.00 |
27.00 |
5.00 |
486 |
|
GWN260 |
15.00 |
26.00 |
11.00 |
200 |
|
GWN284 |
17.20 |
26.90 |
9.70 |
216 |
The infill drilling programme at Gwabe has highlighted a core zone of sub-horizontal mineralisation which averages approximately 8m in true thickness from an average depth of 16m below surface.
All resource delineation drilling and core drilling to provide samples for metallurgical test work at the Njame and Gwabe deposits in the Chirundu JV has been completed, and a Measured and Indicated Resource statement will be finalised in Q1, 2009.
Metallurgical test work to finalise design of the Process Flowsheet and to optimise mineral processing parameters is continuing at Mintek Laboratories in Johannesburg.
INTRODUCTION
The Bankable Feasibility Study (BFS) at the Chirundu Uranium Joint Venture Project (Chirundu JV) commenced in May 2008. The Chirundu JV comprises two uranium deposits, Njame and Gwabe, and is a joint venture between African Energy (the JV Manager and 70% equity holder) and Albidon Exploration Limited (30% equity holder) The project is located 150km by road from the Zambian capital city, Lusaka (Diagram 1).
Prefeasibility Studies (PFS) completed in 2008 demonstrated that commercially viable mining of uranium from the Chirundu JV is possible under the projected uranium price, capital cost and operating cost scenarios derived from the PFS, with mining operations to be by open pit methods and using an acid heap leach and ion-exchange recovery process. On the basis of this study a Bankable Feasibility Study was approved by the joint venture partners and commenced in May 2008.
In October 2008, the joint venture participants announced that some aspects of the BFS would be suspended due to deteriorating market conditions and commodity prices. However, the update of the mineral resources to Measured and Indicated categories, the metallurgical test work programme to design and optimize the Process Flowsheet and an assessment of mining options would continue as planned. The suspension of the other aspects of the BFS is currently under review, with a decision on whether to recommence the remainder of the BFS studies expected by the second quarter of 2009. It will take approximately six months to complete the entire study from the recommencement date.
RESOURCE DRILLING UPDATE
Infill drilling programmes at Gwabe and Njame were completed in early October 2008, satisfying the following goals:
Reverse circulation (RC) percussion drilling to decrease the spacing between sampling points to permit a higher confidence resource classification to be derived.
Drill hole spacing has locally been reduced to a 25m x 25m grid at Njame to provide enough information to derive a Measured Resource for the first two years of planned production, with the remainder of Njame and all of Gwabe drilled to a 100m x 50m or 50m x 50m grid suitable for an Indicated Resource (refer to Diagrams 2 and 3).
A programme of large diameter core drilling (PQ core, 85mm diameter) at both deposits was completed to supplement the assay samples collected from RC drilling, to provide core for geotechnical logging and to provide up to 20 tonnes of mineralised sample for metallurgical test work.
The RC drilling programme was completed in mid-September, and the core drilling programme was completed in early October. Assays results for most of the RC drilling have been received and those for the diamond drill core are now available for 21 of the 34 diamond drill holes. These data will be used as the basis for a resource upgrade to Measured and Indicated Resources, as outlined above.
Initial assay results from the infill DDH drilling programme at Gwabe continue to confirm the presence of ore grades and thicknesses of uranium mineralisation (refer to Table 1 below, Diagram 3 and Table 2). These assays along with those for the RC drilling which were announced in December 2008 demonstrate a core zone of sub-horizontal mineralisation which averages approximately 8m true thickness and which has an average depth to the top of mineralisation of 16m below surface see Diagram 3).
Table 1. Significant assay intersections in Gwabe DDH infill drilling
|
Hole |
From (m) |
To (m) |
Interval (m) |
U3O8 ppm |
|
Hole |
From (m) |
To (m) |
Interval (m) |
U3O8 ppm |
|
GWN276 |
15.05 |
26.00 |
10.95 |
684 |
|
GWN306 |
7.00 |
20.70 |
13.70 |
506 |
|
GWN280 |
21.15 |
32.00 |
10.85 |
502 |
|
GWN278 |
17.90 |
35.00 |
17.10 |
314 |
|
GWN307 |
12.05 |
18.20 |
6.15 |
772 |
|
GWN305 |
10.00 |
15.00 |
5.00 |
899 |
|
GWN282 |
14.00 |
29.00 |
15.00 |
298 |
|
GWN266 |
14.00 |
26.00 |
12.00 |
304 |
|
GWN274 |
11.00 |
27.80 |
16.80 |
206 |
|
GWN268 |
20.60 |
29.00 |
8.40 |
396 |
|
GWN298 |
22.00 |
27.00 |
5.00 |
486 |
|
GWN260 |
15.00 |
26.00 |
11.00 |
200 |
|
GWN284 |
17.20 |
26.90 |
9.70 |
216 |
|
GWN303 |
20.00 |
26.00 |
6.00 |
288 |
|
GWN300 |
16.40 |
23.00 |
6.60 |
259 |
|
GWN264 |
15.00 |
25.60 |
10.60 |
161 |
|
GWN302 |
18.70 |
24.00 |
5.30 |
284 |
|
GWN270 |
20.00 |
27.00 |
7.00 |
210 |
|
GWN304 |
18.00 |
19.65 |
1.65 |
818 |
|
GWN262 |
14.60 |
17.75 |
3.15 |
242 |
|
GWN272 |
19.40 |
22.35 |
2.95 |
245 |
The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the 'JORC Code') sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The information contained in this announcement has been presented in accordance with the JORC Code and references to "Measured and Indicated Resources" are to those terms as defined in the JORC Code.
Information in this report relating to Exploration results, Mineral Resources or Ore Reserves is based on information compiled by Dr Frazer Tabeart (an employee and the Managing Director of African Energy Resources Limited) who is a member of The Australian Institute of Geoscientists. Dr Tabeart has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person under the 2004 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Tabeart consents to the inclusion of the data in the form and context in which it appears.
Should you require further information about this announcement, please contact either Paul Chapman or Alasdair Cooke on +61 8 9211 4600 or email [email protected].
Albidon's nominated adviser is RFC Corporate Finance Ltd, contact Stephen Allen +61 8 9480 2500.
Additional information may also be viewed on Albidon's website at www.albidon.com
Table 2 Drill collar coordinates (wgs84 utm35S) and assays for Gwabe infill drilling programme.
All holes drilled vertically. All assays by XRF pressed pellet method XRF-05u at ALS Chemex laboratories.
NSI = no significant intersection in hole TBA = assays yet to be received
Assay data reported in this release in bold, previously released data in regular font
|
Hole |
Depth |
Type |
Northing |
Easting |
RL |
From (m) |
To (m) |
Interval (m) |
U3O8 ppm |
|
Hole |
Depth |
Type |
Northing |
Easting |
RL |
From (m) |
To (m) |
Interval (m) |
U3O8 ppm |
|
GWN260 |
33.00 |
DDH |
8,232,698 |
690,230 |
403 |
15.00 |
26.00 |
11.00 |
200 |
|
GWN262 |
32.00 |
DDH |
8,232,733 |
690,195 |
395 |
14.60 |
17.75 |
3.15 |
242 |
|
GWN264 |
35.00 |
DDH |
8,232,741 |
690,268 |
390 |
15.00 |
25.60 |
10.60 |
161 |
|
GWN266 |
30.00 |
DDH |
8,232,779 |
690,229 |
399 |
14.00 |
26.00 |
12.00 |
304 |
|
GWN268 |
35.00 |
DDH |
8,232,781 |
690,304 |
393 |
20.60 |
29.00 |
8.40 |
396 |
|
GWN270 |
32.00 |
DDH |
8,232,805 |
690,263 |
391 |
20.00 |
27.00 |
7.00 |
210 |
|
GWN272 |
30.50 |
DDH |
8,232,843 |
690,228 |
393 |
19.40 |
22.35 |
2.95 |
245 |
|
GWN274 |
36.00 |
DDH |
8,232,863 |
690,277 |
389 |
11.00 |
27.80 |
16.80 |
206 |
|
GWN276 |
40.00 |
DDH |
8,232,909 |
690,300 |
387 |
15.05 |
26.00 |
10.95 |
684 |
|
GWN278 |
40.00 |
DDH |
8,232,888 |
690,333 |
393 |
17.90 |
35.00 |
17.10 |
314 |
|
GWN280 |
38.50 |
DDH |
8,232,858 |
690,365 |
376 |
21.15 |
32.00 |
10.85 |
502 |
|
GWN282 |
40.00 |
DDH |
8,232,943 |
690,343 |
404 |
14.00 |
29.00 |
15.00 |
298 |
|
GWN284 |
37.00 |
DDH |
8,232,910 |
690,386 |
380 |
17.20 |
26.90 |
9.70 |
216 |
|
GWN286 |
29.00 |
DDH |
8,232,865 |
690,419 |
385 |
TBA |
|||
|
GWN288 |
33.50 |
DDH |
8,232,834 |
690,461 |
379 |
TBA |
|||
|
GWN290 |
30.50 |
DDH |
8,232,905 |
690,451 |
387 |
TBA |
|||
|
GWN292 |
35.00 |
DDH |
8,233,030 |
690,335 |
387 |
TBA |
|||
|
GWN294 |
35.50 |
DDH |
8,232,988 |
690,356 |
400 |
TBA |
|||
|
GWN296 |
35.50 |
DDH |
8,233,014 |
690,407 |
375 |
TBA |
|||
|
GWN298 |
29.00 |
DDH |
8,233,016 |
690,472 |
381 |
22.00 |
27.00 |
5.00 |
486 |
|
GWN300 |
32.10 |
DDH |
8,232,985 |
690,453 |
401 |
16.40 |
23.00 |
6.60 |
259 |
|
GWN302 |
32.00 |
DDH |
8,232,951 |
690,491 |
377 |
18.70 |
24.00 |
5.30 |
284 |
|
GWN303 |
30.50 |
DDH |
8,232,916 |
690,525 |
385 |
20.00 |
26.00 |
6.00 |
288 |
|
GWN304 |
25.00 |
DDH |
8,232,987 |
690,591 |
384 |
18.00 |
19.65 |
1.65 |
818 |
|
GWN305 |
28.00 |
DDH |
8,233,014 |
690,553 |
10.00 |
15.00 |
5.00 |
899 |
|
|
GWN306 |
28.00 |
DDH |
8,233,056 |
690,523 |
369 |
7.00 |
20.70 |
13.70 |
506 |
|
GWN307 |
37.00 |
DDH |
8,233,047 |
690,662 |
375 |
12.05 |
18.20 |
6.15 |
772 |
|
GWN308 |
37.50 |
DDH |
8,233,097 |
690,623 |
398 |
TBA |
|||
|
GWN309 |
28.00 |
DDH |
8,233,127 |
690,582 |
376 |
TBA |
|||
|
GWN310 |
35.00 |
DDH |
8,233,160 |
690,623 |
379 |
TBA |
|||
|
GWN311 |
45.50 |
DDH |
8,233,131 |
690,656 |
390 |
TBA |
|||
|
GWN312 |
45.50 |
DDH |
8,233,097 |
690,691 |
402 |
TBA |
|||
|
GWN313 |
30.50 |
DDH |
8,232,668 |
690,262 |
387 |
TBA |
|||
|
GWN314 |
33.00 |
DDH |
8,232,621 |
690,240 |
408 |
TBA |
|||
|
GWN227 |
36.00 |
RC |
8,232,621 |
690,240 |
408 |
9.00 |
18.00 |
9.00 |
180 |
|
GWN228 |
36.00 |
RC |
8,232,669 |
690,205 |
396 |
14.00 |
21.00 |
7.00 |
330 |
|
GWN229 |
32.00 |
RC |
8,232,663 |
690,268 |
389 |
11.00 |
24.00 |
13.00 |
190 |
|
GWN230 |
34.00 |
RC |
8,232,740 |
690,115 |
405 |
17.00 |
24.00 |
7.00 |
112 |
|
GWN231 |
23.00 |
RC |
8,232,894 |
690,104 |
396 |
NSI |
|||
|
GWN232 |
34.00 |
RC |
8,232,852 |
690,148 |
408 |
NSI |
|||
|
GWN233 |
28.00 |
RC |
8,232,817 |
690,176 |
403 |
NSI |
|||
|
GWN234 |
30.00 |
RC |
8,232,692 |
690,326 |
389 |
19.00 |
24.00 |
5.00 |
193 |
|
GWN235 |
34.00 |
RC |
8,232,655 |
690,355 |
391 |
16.00 |
28.00 |
12.00 |
669 |
|
GWN236 |
32.00 |
RC |
8,232,595 |
690,435 |
394 |
TBA |
|||
|
GWN237 |
32.00 |
RC |
8,232,510 |
690,505 |
377 |
TBA |
|||
|
GWN238 |
34.00 |
RC |
8,232,556 |
690,600 |
380 |
19.00 |
23.00 |
4.00 |
202 |
|
GWN239 |
30.00 |
RC |
8,232,492 |
690,687 |
389 |
TBA |
|||
|
GWN240 |
35.00 |
RC |
8,232,458 |
690,581 |
392 |
23.00 |
26.00 |
3.00 |
160 |
|
GWN241 |
30.00 |
RC |
8,232,629 |
690,538 |
387 |
TBA |
|||
|
GWN242 |
34.00 |
RC |
8,232,699 |
690,461 |
383 |
25.00 |
28.00 |
3.00 |
162 |
|
GWN243 |
34.00 |
RC |
8,232,737 |
690,427 |
383 |
21.00 |
28.00 |
7.00 |
599 |
|
GWN244 |
36.00 |
RC |
8,232,768 |
690,380 |
389 |
22.00 |
30.00 |
8.00 |
625 |
|
GWN245 |
28.00 |
RC |
8,232,986 |
690,154 |
417 |
NSI |
|||
|
GWN246 |
28.00 |
RC |
8,232,964 |
690,168 |
402 |
NSI |
|||
|
GWN247 |
33.00 |
RC |
8,232,929 |
690,209 |
399 |
NSI |
|||
|
GWN248 |
37.00 |
RC |
8,232,902 |
690,240 |
392 |
25.00 |
30.00 |
5.00 |
150 |
|
GWN249 |
31.00 |
RC |
8,233,038 |
690,240 |
387 |
11.00 |
16.00 |
5.00 |
142 |
|
GWN250 |
37.00 |
RC |
8,233,008 |
690,269 |
395 |
19.00 |
26.00 |
7.00 |
190 |
|
GWN251 |
37.00 |
RC |
8,232,975 |
690,304 |
395 |
20.00 |
29.00 |
9.00 |
190 |
|
GWN252 |
34.00 |
RC |
8,233,083 |
690,337 |
391 |
26.00 |
28.00 |
2.00 |
418 |
|
GWN253 |
32.00 |
RC |
8,233,039 |
690,376 |
388 |
7.00 |
23.00 |
16.00 |
294 |
|
GWN254 |
28.00 |
RC |
8,233,075 |
690,414 |
396 |
16.00 |
21.00 |
5.00 |
198 |
|
GWN255 |
27.00 |
RC |
8,233,088 |
690,481 |
377 |
13.00 |
21.00 |
8.00 |
289 |
|
GWN256 |
32.00 |
RC |
8,233,046 |
690,454 |
395 |
19.00 |
27.00 |
8.00 |
177 |
|
GWN257 |
25.00 |
RC |
8,233,118 |
690,452 |
382 |
7.00 |
15.00 |
8.00 |
273 |
|
GWN258 |
27.00 |
RC |
8,233,126 |
690,381 |
375 |
TBA |
|||
|
GWN259 |
25.00 |
RC |
8,233,077 |
690,201 |
383 |
NSI |
|||
|
GWN261 |
23.00 |
RC |
8,233,147 |
690,270 |
388 |
NSI |
|||
|
GWN263 |
23.00 |
RC |
8,233,152 |
690,343 |
382 |
NSI |
|||
|
GWN265 |
20.00 |
RC |
8,233,184 |
690,311 |
397 |
NSI |
|||
|
GWN267 |
20.00 |
RC |
8,233,222 |
690,373 |
403 |
NSI |
|||
|
GWN269 |
23.00 |
RC |
8,233,185 |
690,378 |
396 |
NSI |
|||
|
GWN271 |
23.00 |
RC |
8,233,252 |
690,364 |
384 |
NSI |
|||
|
GWN273 |
27.00 |
RC |
8,233,222 |
690,408 |
381 |
NSI |
|||
|
GWN275 |
25.00 |
RC |
8,233,148 |
690,417 |
373 |
2.00 |
6.00 |
4.00 |
202 |
|
GWN277 |
32.00 |
RC |
8,232,804 |
690,489 |
385 |
23.00 |
27.00 |
4.00 |
257 |
|
GWN279 |
30.00 |
RC |
8,232,876 |
690,564 |
380 |
TBA |
|||
|
GWN281 |
23.00 |
RC |
8,233,197 |
690,693 |
386 |
10.00 |
18.00 |
8.00 |
209 |
|
GWN283 |
35.00 |
RC |
8,233,197 |
690,693 |
386 |
NSI |
|||
|
GWN285 |
45.00 |
RC |
8,233,067 |
690,732 |
396 |
TBA |
|||
|
GWN287 |
25.00 |
RC |
8,233,303 |
690,411 |
384 |
NSI |
|||
|
GWN289 |
30.00 |
RC |
8,233,268 |
690,439 |
380 |
NSI |
|||
|
GWN291 |
30.00 |
RC |
8,233,225 |
690,479 |
383 |
NSI |
|||
|
GWN293 |
26.00 |
RC |
8,233,170 |
690,485 |
377 |
15.00 |
25.00 |
10.00 |
907 |
|
GWN295 |
27.00 |
RC |
8,233,199 |
690,518 |
392 |
16.00 |
24.00 |
8.00 |
249 |
|
GWN297 |
34.00 |
RC |
8,233,231 |
690,548 |
383 |
20.00 |
34.00 |
14.00 |
313 |
|
GWN299 |
33.00 |
RC |
8,233,185 |
690,589 |
389 |
16.00 |
25.00 |
9.00 |
256 |
|
GWN301 |
28.00 |
RC |
8,233,162 |
690,561 |
385 |
14.00 |
26.00 |
12.00 |
621 |
Location of the Chirundu Uranium JV Project and the prospects referred to in the text See Diagram in the hyperlink above
Drill location plan for Gwabe showing the locations of all drill holes completed for resource delineation drilling on a background image of the airborne radiometric survey uranium channel. See Diagram in the hyperlink above
Drill location plan for Gwabe showing the locations of drill holes completed for resource delineation drilling coded by assay grade multiplied by intersection thickness, and highlighting those holes referenced in the text. See Diagram 3 in the hyperlink above
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