Resource Star (ASX: RSL) has interests in uranium exploration assets in the Northern Territory, Western Australia and Malawi.
The company's main projects include joint ventures with Globe Metals and Mining on the Livingstonia Uranium Project and Machinga Rare Earths Project in Malawi, the 100%-owned Edith River Uranium Project in the Northern Territory and the Spinifex joint venture with Thundelarra Resources in Western Australia.
Resource Star: Livingstonia extension offers possible increase to uranium resource in Africa
Resource Star (ASX: RSL) has been granted an extension to the northern boundary of the Livingstonia EPL0187/05R tenement, which provides a boost to the exploration potential of the project in Malawi.
The company is earning up to an 80% interest in the Livingstonia Uranium Project from Globe Metals and Mining (ASX: GBE).
The company recently sought clarification from the Malawian authorities regarding the positioning of the northern boundary of the tenement and the projection system used to determine that boundary.
The clarification made it clear that the northern boundary was 300 metres further north than previously understood.
In addition, a further 100 metres of ground to the north of that boundary was able to be applied for and that has now been granted as an extension to the existing exploration licence.
The Chombe Prospect has an Inferred JORC Resource of 8.3 million tonnes at 325 parts per million equivalent uranium oxide for a contained 6 million pounds of uranium oxide at a lower cut-off grade of 150 parts per million.
The additional 400 metres to the north of the Inferred Resource is unexplored. The mineralisation identified to date at the Chombe Prospect extends up to the previously understood boundary, and trends in a north westerly direction into this area.
Drill holes along that boundary include Resource Star’s 2010 intersection of 11.8 metres at 517 parts per million equivalent uranium oxide. This mineralisation remains completely open to the north.
Also, the geophysical anomaly that originally indicated the presence of the Chombe mineralisation extends across the extended tenement boundary into an exploration licence held by Paladin Energy (ASX: PDN).
This newly recognised and acquired ground will be a focus of the next round of drilling at Livingstonia.
Resource Star/Globe Metals JV
In March 2010, Resource Star and Globe signed a joint venture agreement to explore the Livingstonia Project. Resource Star is earning up to 80% equity in the project through delivery on project development milestones.
At the end of 2010 Resource Star completed a program of a further 13 percussion holes for a total of 1,502 metres on the Chombe Prospect.
Mineralised zones were intersected in all but one of the holes, with some significant thick intersections along the eastern edge of the July 2010 Resource boundary.
Future work will focus on the exploration potential that exists in a number of areas around the defined resource, specifically:
- East of the northern end of the resource, where recent drilling has defined excellent thick zones of mineralisation;
- Along strike from the interpreted north-west trending zone of this thickened, higher grade mineralisation defined in the 2010 drilling within the resource;
- Within the resource, where interpretation suggests that earlier drilling has not always drilled through the full thickness of the host sequence; and
- In the new lower grade zone to the south, where sparse drilling indicates potential for defining shoots of higher grade mineralisation within the system and within the areas defined as resource potential by CSA Global.
