17th Apr 2009 10:00
Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration
17 April 2009
Kalahari Minerals plc ('Kalahari' or 'the Company')
Emerging Metals Increases Stake
Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of uranium, copper and base metal interests in Namibia, was notified on 16 April 2009 that Emerging Metals Limited had purchased 1,780,000 ordinary shares in the Company, raising its total interest in Kalahari to 17,600,000 ordinary shares representing 9.84% of its total voting rights.
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For further information please visit www.kalahari-minerals.com or contact: |
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Mark Hohnen |
Kalahari Minerals Plc |
Tel: +61 (0) 8 9389 4488 |
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Olly Cairns |
Blue Oar Securities Plc |
Tel: +61 (0) 86430 1631 |
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Andrew Raca |
Blue Oar Securities Plc |
Tel: +44 (0) 20 7448 4400 |
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Richard Chase |
Ambrian Partners |
Tel: +44 (0) 20 7634 4700 |
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Rory Scott |
Mirabaud Securities LLP |
Tel: +44 (0) 20 7878 3360 |
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Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: +44 (0) 20 7236 1177 |
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Susie Callear |
St Brides Media & Finance Ltd |
Tel: +44 (0) 20 7236 1177 |
Notes to Editors:
Information relating Kalahari
Kalahari Minerals Plc is an AIM listed mining and exploration group with a portfolio of copper, base metal and uranium interests in western and eastern central Namibia.
The Company's key investment is its current 38.68% holding in ASX and TSX listed Extract Resources. Extract's main focus is the Husab uranium project in Namibia which contains three main prospects, Rossing South, Ida Dome and Hildenhof, and is located directly south of Rio Tinto's producing Rossing Mine. At Rossing South, an initial resource estimate of 108 M lbs of U3O8 at a grade of 430 ppm was announced in January 2009 for Zone 1, whilst at Ida Dome, a 25.1 M lbs of U3O8 has been defined, effectively giving Extract a total resource of 133.1 M lbs. The Zone 2 resource is expected to be announced in summer 2009, which should once again expand Extract's quantified resource base. Results from an ongoing drilling programme reinforce the Company's belief that the area has a strong potential to host a world class uranium deposit.
Kalahari's copper interests are focussed on two project areas, Dordabis and Witvlei, which are prospective for sediment hosted copper mineralisation consistent with the world class Zambian Copper Belt. A third project, Ubib, is believed to be prospective for gold mineralisation and is located close to the operating Navachab gold mine.
The Company also has a 100% interest in the highly prospective Namib Lead Zinc Project centred on the old Namib Lead Mine, which was an underground operation from 1965 - 1992. Previous mine studies (non JORC compliant) indicate surface tails and underground mining reserves of 1.65 million tonnes at 5.7% zinc, 1.6% lead and 40.2 g/t silver. Kalahari aims to take the project to bankable feasibility study stage with a view to recommencing mining operations in the short term.
Information relating to Extract
Extract Resources Limited is an Australian-based uranium exploration company whose primary focus is in the African nation of Namibia. Extract's principal asset is its 100%-owned Husab Uranium Project which contains three known uranium targets: Ida Dome; Hildenhof; and Rossing South. Rossing South represents Extract's first new discovery in this area. Extract is listed on the ASX and the TSX under the ticker symbol 'EXT'. For more information on Extract visit www.extractresources.com.
Related Shares:
OKYO.L