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Extract Resources moves Rossing South Uranium Project closer with tests on mineralisation

Extract Resources moves Rossing South Uranium Project closer with tests on mineralisation

Extract Resources Ltd (ASX/TSX:EXT) has advised that preliminary metallurgical test work at Extract Resources' Rossing South Uranium Project in Namibia has revealed that uranium could be extracted using a low-cost, coarse grind mill and acid leach processing plant.

This is based on NQ size drill core from 19 drill holes has indicated excellent semi autogenous grind (SAG) mill amenability with relatively low SAG mill work index results and consequently, a reduced power demand for a coarse grind size.

Acid leach testwork has commenced at the Australian Nuclear Science and Technology Organisation Minerals Division (ANSTO Minerals) with the initial work aimed at determining the optimum grind size.

Based on the mineralogical analysis outcomes and the amenability of uraninite and coffinite to acid leaching it is expected that high acid leach recoveries can be achieved from the Rossing South ore.

Extract said the company "is very pleased with these results which support the view that uranium from Rossing South could be recovered by low-cost coarse grind, acid leach processing plant."

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.

Proactive Investors Comment:  Preliminary test-work results are very encouraging. 

Recent results confirm that Rossing South is the highest grade granite hosted uranium deposit in Namibia and developing to become one of the largest uranium deposits in the world.

The Inferred Mineral JORC Resource is 115 mt @ 430 ppm for 108.3m lbs of uranium.  The Rossing South Feasibility Study has commenced.

Further upside is likely from resource upgrades as well as information derived from feasibility studies.

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