8th Dec 2008 07:20
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Albidon Limited |
level 1 62 colin street west perth WA 6005 Australia Telephone: +61 89211 4600 Facsimile: +61 8 9211 4699 |
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|
8 December 2008
HIGH-GRADE URANIUM INTERSECTIONS IN GWABE RESOURCE DELINEATION DRILLING, CHIRUNDU JV, ZAMBIA
http://www.rns-pdf.londonstockexchange.com/rns/6908J_-2008-12-8.pdf
HIGHLIGHTS:
Reverse circulation (RC) 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 RC 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 |
|
GWN293 |
15 |
25 |
10 |
907 |
|
GWN235 |
16 |
28 |
12 |
669 |
|
GWN301 |
14 |
26 |
12 |
621 |
|
GWN244 |
22 |
30 |
8 |
625 |
|
GWN253 |
7 |
23 |
16 |
294 |
|
GWN297 |
20 |
34 |
14 |
313 |
|
GWN243 |
21 |
28 |
7 |
599 |
|
GWN229 |
11 |
24 |
13 |
190 |
|
GWN255 |
13 |
21 |
8 |
289 |
|
GWN228 |
14 |
21 |
7 |
330 |
|
GWN299 |
16 |
25 |
9 |
256 |
|
GWN257 |
7 |
15 |
8 |
273 |
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.
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 has commenced at Mintek Laboratories in Johannesburg.
INTRODUCTION
The Bankable Feasibility Study ("BFS") for the Chirundu Uranium Project commenced in May 2008. It comprises two deposits in Zambia, Njame and Gwabe, and is a joint venture between African Energy Resources Limited (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.
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 will be reviewed in the first quarter of 2009.
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, ahead of schedule and on budget, and the core drilling programme was completed in early October. Assays results for most of the RC drilling have been received, but those for the diamond drill core will not be available until January 2009. 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 RC drilling programme at Gwabe have been received, and continue to confirm the presence of ore grades and thicknesses of uranium mineralisation (refer to Table 1 below, Diagram 3 and Table 2):
Table 1. Significant assay intersections in Gwabe RC infill drilling
|
Hole |
From (m) |
To (m) |
Interval (m) |
U3O8 ppm |
|
Hole |
From (m) |
To (m) |
Interval (m) |
U3O8 ppm |
|
GWN293 |
15 |
25 |
10 |
907 |
|
GWN235 |
16 |
28 |
12 |
669 |
|
GWN301 |
14 |
26 |
12 |
621 |
|
GWN244 |
22 |
30 |
8 |
625 |
|
GWN253 |
7 |
23 |
16 |
294 |
|
GWN297 |
20 |
34 |
14 |
313 |
|
GWN243 |
21 |
28 |
7 |
599 |
|
GWN229 |
11 |
24 |
13 |
190 |
|
GWN255 |
13 |
21 |
8 |
289 |
|
GWN228 |
14 |
21 |
7 |
330 |
|
GWN299 |
16 |
25 |
9 |
256 |
|
GWN257 |
7 |
15 |
8 |
273 |
|
GWN295 |
16 |
24 |
8 |
249 |
|
GWN251 |
20 |
29 |
9 |
190 |
|
GWN281 |
10 |
18 |
8 |
209 |
|
GWN227 |
9 |
18 |
9 |
180 |
|
GWN256 |
19 |
27 |
8 |
177 |
|
GWN250 |
19 |
26 |
7 |
190 |
|
GWN277 |
23 |
27 |
4 |
257 |
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.
For more information about Albidon and its projects please visit our web site at www.albidon.com or contact: Paul Chapman or Alasdair Cooke (Albidon's Joint Managing Directors) 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
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
|
Hole |
Depth |
Type |
Northing |
Easting |
RL |
From |
To |
Interval |
U3O8 ppm |
|
Hole |
Depth |
Type |
Northing |
Easting |
RL |
From |
To |
Interval |
U3O8 ppm |
|
GWN227 |
36.00 |
RC |
8,232,621 |
690,240 |
408 |
9 |
18 |
9 |
180 |
|
GWN228 |
36.00 |
RC |
8,232,669 |
690,205 |
396 |
14 |
21 |
7 |
330 |
|
GWN229 |
32.00 |
RC |
8,232,663 |
690,268 |
389 |
11 |
24 |
13 |
190 |
|
GWN230 |
34.00 |
RC |
8,232,740 |
690,115 |
405 |
17 |
24 |
7 |
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 |
24 |
5 |
193 |
|
GWN235 |
34.00 |
RC |
8,232,655 |
690,355 |
391 |
16 |
28 |
12 |
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 |
23 |
4 |
202 |
|
GWN239 |
30.00 |
RC |
8,232,492 |
690,687 |
389 |
TBA |
|||
|
GWN240 |
35.00 |
RC |
8,232,458 |
690,581 |
392 |
23 |
26 |
3 |
160 |
|
GWN241 |
30.00 |
RC |
8,232,629 |
690,538 |
387 |
TBA |
|||
|
GWN242 |
34.00 |
RC |
8,232,699 |
690,461 |
383 |
25 |
28 |
3 |
162 |
|
GWN243 |
34.00 |
RC |
8,232,737 |
690,427 |
383 |
21 |
28 |
7 |
599 |
|
GWN244 |
36.00 |
RC |
8,232,768 |
690,380 |
389 |
22 |
30 |
8 |
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 |
30 |
5 |
150 |
|
GWN249 |
31.00 |
RC |
8,233,038 |
690,240 |
387 |
11 |
16 |
5 |
142 |
|
GWN250 |
37.00 |
RC |
8,233,008 |
690,269 |
395 |
19 |
26 |
7 |
190 |
|
GWN251 |
37.00 |
RC |
8,232,975 |
690,304 |
395 |
20 |
29 |
9 |
190 |
|
GWN252 |
34.00 |
RC |
8,233,083 |
690,337 |
391 |
26 |
28 |
2 |
418 |
|
GWN253 |
32.00 |
RC |
8,233,039 |
690,376 |
388 |
7 |
23 |
16 |
294 |
|
GWN254 |
28.00 |
RC |
8,233,075 |
690,414 |
396 |
16 |
21 |
5 |
198 |
|
GWN255 |
27.00 |
RC |
8,233,088 |
690,481 |
377 |
13 |
21 |
8 |
289 |
|
GWN256 |
32.00 |
RC |
8,233,046 |
690,454 |
395 |
19 |
27 |
8 |
177 |
|
GWN257 |
25.00 |
RC |
8,233,118 |
690,452 |
382 |
7 |
15 |
8 |
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 |
6 |
4 |
202 |
|
GWN277 |
32.00 |
RC |
8,232,804 |
690,489 |
385 |
23 |
27 |
4 |
257 |
|
GWN279 |
30.00 |
RC |
8,232,876 |
690,564 |
380 |
TBA |
|||
|
GWN281 |
23.00 |
RC |
8,233,197 |
690,693 |
386 |
10 |
18 |
8 |
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 |
25 |
10 |
907 |
|
GWN295 |
27.00 |
RC |
8,233,199 |
690,518 |
392 |
16 |
24 |
8 |
249 |
|
GWN297 |
34.00 |
RC |
8,233,231 |
690,548 |
383 |
20 |
34 |
14 |
313 |
|
GWN299 |
33.00 |
RC |
8,233,185 |
690,589 |
389 |
16 |
25 |
9 |
256 |
|
GWN301 |
28.00 |
RC |
8,233,162 |
690,561 |
385 |
14 |
26 |
12 |
621 |
|
GWN260 |
33.00 |
DDH |
8,232,698 |
690,230 |
403 |
TBA |
|||
|
GWN262 |
32.00 |
DDH |
8,232,733 |
690,195 |
395 |
TBA |
|||
|
GWN264 |
35.00 |
DDH |
8,232,741 |
690,268 |
390 |
TBA |
|||
|
GWN266 |
30.00 |
DDH |
8,232,779 |
690,229 |
399 |
TBA |
|||
|
GWN268 |
35.00 |
DDH |
8,232,781 |
690,304 |
393 |
TBA |
|||
|
GWN270 |
32.00 |
DDH |
8,232,805 |
690,263 |
391 |
TBA |
|||
|
GWN272 |
30.50 |
DDH |
8,232,843 |
690,228 |
393 |
TBA |
|||
|
GWN274 |
36.00 |
DDH |
8,232,863 |
690,277 |
389 |
TBA |
|||
|
GWN276 |
40.00 |
DDH |
8,232,909 |
690,300 |
387 |
TBA |
|||
|
GWN278 |
40.00 |
DDH |
8,232,888 |
690,333 |
393 |
TBA |
|||
|
GWN280 |
38.50 |
DDH |
8,232,858 |
690,365 |
376 |
TBA |
|||
|
GWN282 |
40.00 |
DDH |
8,232,943 |
690,343 |
404 |
TBA |
|||
|
GWN284 |
37.00 |
DDH |
8,232,910 |
690,386 |
380 |
TBA |
|||
|
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 |
TBA |
|||
|
GWN300 |
32.10 |
DDH |
8,232,985 |
690,453 |
401 |
TBA |
|||
|
GWN302 |
32.00 |
DDH |
8,232,951 |
690,491 |
377 |
TBA |
|||
|
GWN303 |
30.50 |
DDH |
8,232,916 |
690,525 |
385 |
TBA |
|||
|
GWN304 |
25.00 |
DDH |
8,232,987 |
690,591 |
384 |
TBA |
|||
|
GWN305 |
28.00 |
DDH |
8,233,014 |
690,553 |
TBA |
||||
|
GWN306 |
28.00 |
DDH |
8,233,056 |
690,523 |
369 |
TBA |
|||
|
GWN307 |
37.00 |
DDH |
8,233,047 |
690,662 |
375 |
TBA |
|||
|
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 |
.
Location of the Chirundu Uranium JV Project and the prospects referred to in the text. See Diagram 1 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 2 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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