Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
12 Nov 2007drilling spud▲ GoodMajor
RC drilling has begun at Marenica to test the radon-indicated palaeochannel and other targets. The aim is to expand the known mineralisation and the non-JORC target of 35-45Mt for 14-22m lb U3O8. Resolves the earlier search for a rig.
25 Oct 2007drilling result▲ Good
Logging of 131 old holes over 4.5 sq km in Areas 1 and 2 found shallow intercepts, best 2.8m at 648ppm and 3.5m at 623ppm eU3O8. The maiden JORC resource target has now moved to year-end 2007.
11 Oct 2007drilling result▲ GoodMajor
A radon-gas (Track Etch) survey over 62.4 sq km indicates a possible new uranium palaeochannel about 10km long and 2km wide, east of the known mineralised areas. It is an indirect indicator, not drilled; the company is seeking an RC rig to test it.
26 Sept 2007drilling result▲ Good
Logging of 45 old holes across 15 sq km south and southeast of Area 3 found shallow intercepts, e.g. 3m at 536ppm eU3O8; historic data from 62 more holes agrees. Scaddan (WA) airborne EM survey finished (917 line km), with preliminary results due early October.
30 Aug 2007drilling result▲ Good
Gamma logging of 203 old Gold Fields holes over 3.5 sq km (Mineralised Area 3) found shallow intercepts, best 5.8m at 1,444ppm eU3O8 and 3.2m at 1,582ppm. Company says this builds confidence in the historic data; a first JORC resource is due in the final quarter of 2007.
21 Aug 2007drilling result▲ GoodMajor
Gamma logging of 31 old holes 5-7km west of known mineralisation found narrow high-grade zones, e.g. 0.3m at 966ppm eU3O8, a new prospective area. Final RC assays were also received, best 3m at 385ppm. Scaddan electromagnetic survey starts 10 September.
25 July 2007drilling result▲ GoodMajor
Drilling found a previously unknown mineralised area in the far east of Marenica (e.g. 1m at 617ppm), and mapping showed widespread alaskite intrusions, the rock type hosting Rössing's uranium. Further assays include 8m at 378ppm. About 15% of results remain outstanding.
28 June 2007drilling result▲ GoodMajor
More Marenica assays include 11m at 409ppm U3O8 (28-39m, with 1m at 1,632ppm) in a sand-covered palaeochannel 2km south of known mineralisation, an area little drilled historically. About a third of results remain outstanding. Extends the shallow mineralisation beyond the historic zone.
31 May 2007drilling result▲ GoodMajor
First assays from 12 of 150 Marenica holes show shallow uranium, e.g. 9m at 488ppm U3O8 from surface and 1m at 1,033ppm. The company says it has spent enough to earn 80% of the Marenica joint venture company; licence transfer applied for. A JORC resource is targeted this year.
22 Mar 2007drilling result▲ Good
Processing of geophysical and satellite data over all of Marenica produced ten new uranium targets, many under cover, and three Rössing-like structures suggesting possible primary uranium. Field checks start immediately. Builds on the earlier airborne survey and target interpretation thread.
15 Mar 2007drilling progress report▲ Good
Field work found 1,945 historic holes, with 24,127m (75% of Gold Fields' drilling) still open for gamma probing, including 1,240 holes the company had no information on. Down-hole logging of up to 10,000m has begun; results will come progressively over several months.
12 Mar 2007drilling spud▲ GoodMajor
RC drilling has started at Marenica, about 2,500m, with all holes gamma probed and assayed. Scaddan's second licence, EL63/1037 (about 180 sq km), was also granted, taking the project to 300 sq km.
20 Feb 2007drilling scheduled▲ Good
A drill rig has been secured to start at Marenica in early March 2007, for about 2,000 to 2,500m of RC percussion drilling on known mineralisation and new targets. This follows the planned drilling flagged since late 2006.
24 Jan 2007drilling progress report▲ Good
Over 1,000 of about 2,000 historic Gold Fields drill holes have been relocated at Marenica, with the rest expected by late February. The airborne survey is complete. Open holes will be re-probed to enable a shorter drill program toward a JORC resource.
11 Jan 2007drilling result▲ GoodMajor
Phase Two trench sampling at Marenica found broad near-surface mineralisation over 100m wide, with grades up to 1,005ppm U3O8 (60m averaging 540ppm in trench A1T2). Drilling is still planned for first half 2007. Follows Phase One results.
21 Nov 2006drilling progress report● Neutral
An airborne radiometric survey has started over Marenica, about 3,400 line km across 130 sq km in the northeast, run by UTS Geophysics. It should take 4-5 days and will help pick new uranium targets. No results yet.
8 Nov 2006drilling result▲ GoodMajor
Phase One trench sampling at Marenica returned uranium up to 1,483ppm U3O8 over 3m, plus 80m at 241ppm, confirming widespread near-surface mineralisation within the old Gold Fields area. This resolves the assays awaited since September; drilling is planned for first half 2007.
17 Oct 2006resource reserve update▲ GoodMajor
Historic Gold Fields reports found in Namibia support an exploration target of at least 8,000 tonnes (about 18 million pounds) of U3O8 in roughly 40 million tonnes at 200ppm at Marenica. This is not a JORC resource, and more work is needed.
12 Sept 2006drilling result▲ Good
First-phase radiometry and sampling at Marenica found strong readings in 6 of 7 trenches, with off-scale readings at Anomaly 4, and visible uranium at two new areas. Assay results are still awaited from South Africa, so grades are unconfirmed.
15 Aug 2006drilling progress report● Neutral
Trench, pit and surface sampling with hand-held radiometry has started at Marenica, focused on historic Anomalies 1 to 4. It is meant to help prioritise targets for a drill program planned for next quarter. No results yet.
4 July 2006drilling result▲ Good
Reconnaissance at Marenica (Marinica) shows past explorers drilled about 32,000 metres in over 2,000 holes, finding four uranium anomalies covering about 7 sq km. New palaeochannel targets and potential Rossing-style uranium are also identified. These are historical results, not new drilling.
9 June 2006farm in farm out completion▲ GoodMajor
Namibia's Minister of Mines and Energy approves the joint venture to earn 80% of the Marinica uranium project, announced in April. Major exploration starts once an environmental contract is granted, which is described as well advanced.
19 Apr 2006farm in farm out agreement▲ GoodMajor
The company enters a joint venture to earn 80% of the Marinica uranium project in Namibia, a 706 sq km licence near Langer Heinrich. This follows the April rumour response and marks a move into uranium. The 49 million tonne figure is a company estimate with unknown grade.
