Uranium developer Extract Resources Ltd. (EXT.AU) Tuesday reported "exceptional" assay results from its Rossing South project in Namibia.

The Perth-based company said chemical assays showed uranium oxide concentrations of 28 meters at 4,544 parts per million, including 3 meters at 32,865 ppm, or 3.29%.

"The latest round of high grade assay results from Rossing South are exceptional with some of the best results returned thus far," Chairman Steve Galloway said in a statement.

Work on a feasibility study for Rossing South, which is located close to one of Rio Tinto Ltd.'s key uranium mines Rossing, was progressing well, Extract said.

-By Elisabeth Behrmann, Dow Jones Newswires;

61-2-8272-4689 elisabeth.behrmann@dowjones.com
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