7th Dec 2006 07:00
Albidon Limited07 December 2006 Level 1 62 Colin Street West Perth 6005 Albidon limited Western Australia ARBN 107 288 755 Tel: +61 8 9211 4600 Fax: +61 8 9211 4699 Email: [email protected] ASX Code: ALB AIM Code: ALD 7 December 2006 via electronic lodgement AIRBORNE SURVEY TO ACCELERATE URANIUM EXPLORATION PROGRAM IN ZAMBIA An airborne radiometric survey has commenced with the objective of defining newuranium exploration targets over selected portions of the Company's extensivetenement holdings in southern Zambia. Albidon's joint venture partner, Energy Ventures Limited, advises that itswholly owned subsidiary, African Energy Resources ('AER') has commenced ahelicopter-borne radiometric survey over a number of key uranium explorationprojects in Zambia, including the Kariba Valley Joint Venture, the ChirunduJoint Venture and the Luano Valley area. The survey has been completed over a number of target zones in the ChirunduJoint Venture area, including a detailed orientation survey over the Njame Northuranium deposit. Encouraging results from the Chirundu survey have beenobserved in an area not previously explored for uranium. As a consequence aninfill survey program was undertaken over two areas near Chirundu. The overall survey program will collect approximately 10,000 line kilometres ofnew data. The results from this survey will form the basis for identifying andprioritising drilling targets for African Energy's exploration programme in2007, and it is expected that the final results from this survey will beavailable early in the New Year. The projects at Kariba Valley, Chirundu and Luano Valley areas are subject tothe Option and Farm-In Agreement between Energy Ventures Ltd and AlbidonLimited, under which African Energy has the right to earn up to a 70% equityinterest in these projects. If you have any queries please contact the Company Secretary, Nicholas Day orManaging Director, Dale Rogers on +61 8 9211 4600 or email [email protected]. Additional information may also be viewed on Albidon's website atwww.albidon.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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