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Impact Minerals announces final infill drill results at the Lekobolo Uranium deposit

Steel News - Published on Sat, 09 Oct 2010

Impact Minerals Limited has completed the interpretation of an infill drilling campaign at the Company’s wholly owned Lekobolo deposit in eastern Botswana. This deposit is Impact’s first drill target and first significant discovery of uranium within its Botswana Uranium Project. It is 20 kilometers southwest of the large Letlhakane Uranium Project.

The infill program comprised 61 Reverse Circulation holes and 5 core holes for a total of 2,278 meters and was focused on an area measuring about 2,400 meters by 800 meters. Drill holes are now mainly at 200 meters by 200 meters spacing with 200 meters by 100 meters spacing on four sections.

All holes were analyzed by down‐hole gamma probe. The results for the first 36 RC holes were announced to the ASX on July 15th 2010. The results for the remaining 25 RC holes and 5 core holes are described here. Results for the whole program of infill drilling are listed at the back of this report.

RC Drill Results Confirm Extensive Lekobolo Uranium Mineralization;
The results for the remaining 25 RC holes have confirmed the interpretation that uranium mineralization at Lekobolo extends over a broad area about 1,800 meters by 700 meters in extent and which is open to the west at depth

The mineralization occurs as broad, largely horizontal layers and lenses from surface down to about 45 meters depth within altered and weathered carbonaceous mudstone, sandstone and conglomerate of the Karoo Super group. Visible carnotite occurs in some holes.

Interpretation of geological and airborne magnetic data indicates that the mineralization occurs within an east west trending, fault controlled Karoo aged palaeochannel that trends to the west. The geology of the palaeochannel is similar to that which hosts the adjacent Letlhakane deposit.

The mineralization at Lekobolo is open to the west but at depths greater than 40 m: for example an intersect of 11.6 meters from 37.2 meters averaged 280 ppm at the western end of the section. This may not be economic at this time. Further, the drill hole spacing is inadequate for the calculation of a resource because of insufficient continuity in the higher grade zones.

Impact estimates that for the area drilled there is the potential for a Target Mineralisation of between 14 Mt and 18 Mt of mineralization at an average grade range of between 135 ppm to 180 ppm for a contained 4 Mlb to 7 Mlb of U3O8. Investors should note that this Target Mineralization is conceptual in nature and should not be construed as a resource calculated in accordance with the JORC Code.

The Lekobolo deposit could be considered significant as a satellite source of mineralization for an existing mining operation, but is currently inadequate for a stand‐alone mine. Accordingly, further resource definition drilling will be placed on hold until circumstances warrant.

A Cap Resources Limited has reported that metallurgical test work at the Letlhakane Project using radiometric sorting can pre concentrate the plant feed, significantly reducing processing costs. The higher grade, though thinner zones evident in the drill results at Lekobolo, supported by the portable XRF analyses on core suggest that similar pre‐concentration may be possible for the deposit.

There is potential for further discoveries near the Lekobolo deposit and this could augment the existing mineralization. Several untested soil anomalies within the Lekobolo Prospecting Licence to the north of the existing drilling are under review for drilling as part of a future campaign, a date for which has yet to be set.

Exploration Progress at Impact’s other Botswana Uranium Prospects;
(I). Morolane, Mosolotsane and Moiyabana Prospects - The interpretation of the drill results from the other prospects drilled by Impact is in progress and will be released when completed.

(II). Sua Prospect - The aircore drill program at the Sua Prospect to test numerous uranium in soil anomalies in the playa lake is in progress but will be curtailed. Initial results from the down‐hole gamma probe in holes up to 50 meters deep are poor. Drilling conditions have prevented penetration past these depths in most areas. Impact is reviewing the soil sampling results and the behavior of uranium in the surface waters in the lake in order to resolve the nature of the anomalism.

(III). Other Areas - Impact has commenced a program of regional systematic mapping and field checking in order to advance its knowledge and understanding of the other areas considered to be prospective within its Prospecting Licenses. This work will help define new areas for further work that will lead to drill testing and is an ongoing effort.

Posted By : admin on Sat, 09 Oct 2010
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