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Market:ASX TSX
Sector:General Mining
EPIC:BMN
Latest Price: 0.14  (0.00%)
52-week High:0.48
52-week Low:0.14
Market Cap:41.94M
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Bannerman Resources

Bannerman Resources (ASX:BMN;TSX:BAN)) is an Australian-based uranium exploration and mine development company with interests in two properties in Namibia and a number of properties in Botswana and Australia.

 

Its principal and most significant asset is its 80% interest in the Etango Anomaly A Prospect in the Etango Exclusive Prospecting Licence Area.

 

The Etango Project is one of the world's largest undeveloped uranium deposits, boasting a total resource of 212 million pounds (76,700 tonnes) of uranium oxide (U3O8).

 

Pdf

Bannerman Resources sees new uranium targets boosting Etango resource

Monday, May 10, 2010
Bannerman Resources sees new uranium targets boosting Etango resource

Bannerman Resources (ASX: BMN, TSX: BAN, NSX: BMN) has reported very encouraging initial results from the regional exploration program on its Etango exploration licence in Namibia.

In addition, positive results received from further infill diamond drillholes at the Oshiveli and Hyena areas are expected to add to the size and classification of the existing resource estimate of the Etango deposit.

The next updated resource estimate is due in the September quarter.

The RadonXTM cup survey has given excellent definition of potential new uraniferous zones, indicating numerous previously-untested anomalies adjacent to the Etango deposit.

Len Jubber, chief executive officer, said “exploration to the west, east and south of the Etango deposit has confirmed the presence of highly anomalous radon gas occurrences, suggesting the presence of concealed uranium mineralisation in close proximity to the proposed pit area at Etango."

"These areas have not previously been drilled. We are very pleased with this early success,” Jubber added.

Radon cup surveys measure the level of radon gas emissions in soil. Radon gas is a product of the natural uranium radioactive decay process and, as a gas, is free to disperse through soil and cover rocks above buried uranium mineralisation.

Jubber added, “the first extensive radon cup survey was purposefully conducted in and around the area of known mineralisation at Etango. The strong correlation between the previous resource drilling results and the survey provides us with the comfort to drill test the new anomalies."

"Radon cup surveys elsewhere on the Etango licence area are scheduled to commence in late May followed by similar surveys at the Swakop River licence. Exploration is also planned to commence on the company’s licences in Botswana at the end of the rainy season,” he added.

Bannerman Resources resources shares rose 15% to 38 cents in trading this morning.

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