Extract Resources announced a new resource estimate, following JORC Code guidelines, for Zone 1 Rossing South. The resource has increased to 145 million pounds U3O8 – a 34% increase from previous statement of 108 million pounds. Overall resource grade increased to 449 ppm U3O8. Extract reports 20% of the resource metal now classified as Indicated.
Extract Resources Limited advise that the feasibility study for the Rossing South Project is progressing well, with the scoping study phase due for completion in July. As previously announced, Extract has also engaged Rothschild as an advisor to review the various corporate and business options aimed at bringing Rossing South into production in the most effective manner. This review is expected to be completed in July.
Extract Resources provided drill results from its Rossing South project in Namibia. Highlights include hole RRC289 intersecting 0.2752% U3O8 over 60.0 meters.
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