Extract Resources: Rossing South Positive Exploration Results
January 10 2010 - 11:31PM
Dow Jones News
Uranium developer Extract Resources Ltd. (EXT.AU) on Monday
updated the market with positive exploration results from its
flagship Rossing South project in Namibia, located close to Rio
Tinto's Rossing mine.
All zones of uranium mineralization remain open at depth and
along strike, in at least one direction, with infill resource
definition drilling returning high grade intercepts.
Extract's shares rose on the news, and at 0400 GMT were up 5.0%
at A$8.70.
"The quality of the original discovery continues to be
confirmed, and if anything, gets better. We are conscious of the
need to expand our regional exploration program. Rossing South as
defined for our feasibility study represents just a fraction of the
prospective area," said Extract Resources Chairman Steve
Galloway.
-By Elisabeth Behrmann, Dow Jones Newswires;
61-2-8272-4689 elisabeth.behrmann@dowjones.com
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