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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Murchison Utd | LSE:MUU | London | Ordinary Share | AU000000FTE4 | NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
FOR: MURCHISON UNITED N.L AIM SYMBOL: MUU ASX SYMBOL: MUR October 15, 2007 Murchison United NL: Uranium Drilling to Commence in Mauritania West Africa - Initial 4,000m RC drilling program to commence in Bir En Nar region of Mauritania. - Drilling scheduled to commence in the first half of November 2007. - Drilling to follow up previously reported sampling results of up to 9,500ppm Uranium. PERTH, WESTERN AUSTRALIA--(Marketwire - Oct. 15, 2007) - Murchison United NL (ASX:MUR)(AIM:MUU) is pleased to announce that it is preparing to commence its second uranium drilling program in West Africa, focusing on one of its key Exploration Licences in the Bir En Nar region of the Republic of Mauritania. The forthcoming drilling represents the first drilling program to be conducted by Murchison United within the extensive portfolio of uranium interests it has secured in Mauritania. It follows the successful completion of its maiden drilling program earlier this year at the Firawa prospect in Guinea, which returned encouraging initial results. The drilling program at Bir En Nar is scheduled to commence in the first half of November 2007, and will comprise 40 RC drill holes to an average depth of 100m per hole for a total of 4,000 metres of drilling. The drilling will focus on one of the Company's southernmost licences in the Bir En Nar region, where episyenite samples collected during previous field reconnaissance visits have returned assays of up to 9,500ppm U. The Company's original intention was to conduct a program of diamond drilling at Bir En Nar, however this was changed due to difficulties in obtaining adequate water supplies. Samples will be taken every metre for multi-element analysis in Canada and the Company will release the results of the drilling to the market as they become available. Figure 1 overleaf shows the planned drill-hole locations in relation to historical exploration work undertaken in the region by Minatome. The map also indicates locations where samples of greater than 2,000ppm U were collected during previous field visits conducted by Murchison United. To view Fig.1 Planned R/C drilling program, click on the following link: http://www.ccnmatthews.com/docs/muu115a.pdf To view Fig.2 Location of Murchison United's "Group 4" Uranium Exploration Permit Areas in Mauritania, click on the following link: http://www.ccnmatthews.com/docs/muu115b.pdf Murchison currently holds six uranium exploration permits in Mauritania covering a total area of 8,200km2 with additional permits under application. The permit areas are in the north of the country near the town of Bir Moghrein and in the Bir En Nar region. They are contained within the Reguibat Shield, part of the West African Craton. This significant uranium exploration opportunity was originally identified by the Company's Technical Director, Mr Bosse Gustafsson, from a study commissioned by the World Bank, and further refined from aeroradiometric data highlighting the areas' prospectivity for uranium occurrences and follow up field reconnaissance visits. To view Fig.3 Location of Murchison United's Bir En Nar Project in Mauritania, click on the following link: http://www.ccnmatthews.com/docs/muu115c.pdf Commenting on the announcement, Murchison United's Managing Director, Mr Mark Reilly, said the Company was embarking on an exciting phase with the commencement of drilling in Mauritania to follow up promising results from previous fieldwork. Murchison United has secured an extensive portfolio of uranium exploration projects comprising some 13,600km2 of highly prospective tenements in Mauritania and Guinea, West Africa. Its objective is to delineate significant new uranium deposits within these under-explored terrains. Murchison United NL is an Australian-based no liability company whose principal activity is minerals exploration. The company currently has uranium exploration projects in Mauritania and Guinea in West Africa and copper interests in the Millennium copper leases in Cloncurry, Queensland and the Maroochydore copper project in Western Australia. Shares in the company are listed on both the Australian Stock Exchange (ASX:MUR) and the Alternative Investment Market (AIM:MUU) of the London Stock Exchange. The information in this announcement that relates to exploration results is based on information compiled by Mr. Bosse Gustafsson, who is a member of the European Federation of Geologists a Recognised Overseas Professional Organisation ("ROPO"). Mr Bosse Gustafsson is a full time Technical Director of Murchison United NL and is responsible for exploration activities in Mauritania and Guinea. Mr Gustafsson has sufficient experience, which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve'. Mr Gustafsson consents to the inclusion in this report of the matters based on their information in the form and context in which it appears. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Murchison United NL Mark Reilly Managing Director +618 9322 4071 +618 9322 4073 (FAX) OR RFC Corporate Finance Ltd. Stuart Laing Nominated Advisor for the AIM market +618 9480 2506 Murchison United N.L
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