NGM Resources reported further results from its second Niger drilling program. At Takardeit prospect, hole IND042 intersected 3.0 m grading 0.1231% U3O8 from 4.5 m. The drilling at the Takardeit North prospect has identified sandstone hosted
mineralisation over a zone approximately 1,500 m northeast-southwest by 600m northwest-southeast and remains open to the south-west. Hole IND066 intersected 0.7 m grading 0.1820% U3O8.
NGM announced that drilling at its Tim Mersoï Basin uranium assets in Niger is anticipated to commence 12 October 2009 and will principally target Takardeit. Several other prospects will also be drilled.
NGM Resources Limited updated exploration and drilling activities in Niger, Africa. Sampling of sandstone outcrops has shown greater than 17% (170,000ppm) U3O8 in assaying by ALS-Chemex. The rotary mud drilling campaign concluded on July 25th with 1,508m drilled across 27 drill holes. The drilling was undertaken on each of the three concessions to test the down dip continuity of a number of surface radiometric anomalies and to confirm reported Cogema drill hole anomalies. Seven target areas for drilling on the Terzemazour I (TER1), Toulouk I (TOU1) and Tagait IV (TAGT4) concessions from the radiometrics, surface mapping and sampling, and from old Cogema (Areva) drilling reports were identified. The drilling at the Takardeit prospect has identified sandstone hosted mineralisation over an east-west zone of 2,000m (IND011 – IND014 inclusive) and remains open to the east and south west. Results include 1.8m @ 1,374ppm eU3O8 from 2.2m depth (IND001) and 1.4m @ 1,688ppm eU3O8 from 13.8m depth (IND012).
Advanced or Above