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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 | |
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0.00 | 0.00% | 2.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
MURCHISON UNITED NL ASX, AIM and Media Release 17 March 2008 Re-release of Announcement from 13 March 2008 In order to provide clarification to investors, the Company has re-released its announcement from 13 March that reported initial downhole radiometric logging results from drilling carried out at its Bir En Nar uranium prospect in Mauritania. Additional information has been included with respect to the wireline logging procedure used to obtain these results. HIGH-GRADE URANIUM INTERSECTED AT BIR EN NAR URANIUM PROSPECT, MAURITANIA Highlights - Several high-grade uranium intersections indicated from downhole radiometric logging of samples from RC drilling at the Bir En Nar uranium prospect (Zednes Region, Mauritania). - Logging results received from eight holes of the 41-hole (4,006m) programme, significant results included: Drill Hole Section Intersection Thickness eU3O8 RC From (m) (m) (ppm) BNR02 27.20 5.65 4,070 " " 58.30 0.70 5,750 BNR04 6.25 1.00 7,180 BNR05 40.20 3.85 3,400 BNR07 24.40 2.15 5,130 Drill Hole Section Intersection Thickness eU3O8 RC From (m) (m) (ppm) BNR08 55.50 1.45 3,010 " " 70.80 2.35 ** 11,250 " " 87.45 1.55 5,060 - Further downhole radiometric logging results, together with assay results, will be released when received. Drilling Results - Mauritania Murchison United NL (ASX: MUR, AIM: MUU - "Murchison") is pleased to announce that it has received significant high-grade results from downhole radiometric logging of samples from the recently completed maiden RC drilling program at the Company's 100% owned Bir En Nar uranium prospect, located in the northern Zednes region of the Republic of Mauritania, West Africa (see Fig. 3). To date, downhole logging results have been received for eight holes from the initial drilling program, which comprised a total of 41 RC drill holes of 50 to 150 metres length, inclined 60º towards south west (with a few exceptions) for a total of 4,006m. This programme was carried out during December 2007 by AMCO Construction under the supervision of Murchison's Technical Director, Bosse Gustafsson (see Fig. 1). To view Fig.1 Drilling in Mauritania, December 2007, please open the following link in a new window: http://media3.marketwire.com/docs/muu0317fig1.pdf Anomalous radioactivity was observed on samples from all but six holes, with the best recorded samples exceeding 30,000 c/s with a scintillometer SGR from GF instruments. Poseidon Geophysics carried out radiometric logging to enable calculation of the equivalent uranium content. Results have been received for eight holes so far, with significant readings recorded in seven. Four holes contained intercepts exceeding 5,000ppm eU3O8, with a maximum intercept of 2.35m at 11,250ppm eU3O8. These results are considered to be very encouraging and confirm the prospectivity for uranium mineralization. The Company will announce further results from downhole logging and assay results as soon as they are received. The downhole gamma ray logging, calculation of equivalent uranium grades, and compositing of mineralised intervals was conducted by consultants Poseidon Geophysics (Pty) Ltd. All holes logged were inclined at approximately 60º, with the deepest hole probed being 150 metres. Three holes were not able to be logged due to collapsed bore holes. The logging programme was undertaken with an Auslog Logging System with the estimated grades reported herein based on calculations by Poseidon Geophysics using data logged at 5 cm sampling intervals (see Note at end of this report for further details). To view Fig.2 Bir En Nar 2007 drilling program, locations of first eight holes, please open the following link in a new window: http://media3.marketwire.com/docs/muu0317fig2.pdf The drilling focused on one of the Company's southernmost licences at the Bir En Nar, where episyenite samples collected during previous field reconnaissance visits returned assays of up to 9,500ppm Uranium. The Bir En Nar prospect is a 900 metre long radioactive zone extending 50-70 metres in width and following a tectonic structure in a NW-SE direction (see Fig. 2). A smaller parallel zone occurs a few hundred metres to the SW. The main mineralisation occurs along a fracture zone at the contact between higher radioactive granite in south west and lower radioactive syenite in north east. Episyenite pods with uranium impregnation build up the mineralisation. The prospect was covered by RC drilling with SW-NE traverses at 70 metre spacings. Radiometric logging results received to date from initial drilling at the Bir En Nar Prospect: Drill Hole Section Intersection Thickness eU3O8 RC From (m) (m) (ppm) BNR01 4.60 0.65 540 BNR02 27.20 5.65 4,070 34.20 2.15 770 58.30 0.70 5,750 62.75 0.30 1,470 89.40 0.75 1,230 104.30 0.55 1,730 BNR03 No anomaly BNR04 6.25 1.00 7,180 BNR05 40.20 3.85 3,400 BNR06 91.60 4.00 580 BNR07 24.40 2.15 5,130 BNR08 55.50 1.45 3,010 70.80 2.35 11,250 74.10 0.40 2,060 85.15 1.40 3,130 87.45 1.55 5,060 Approximately 1,000 assay samples, each representing 1 metre of drilling, were also collected for multi- element analysis in Canada by ALS Chemex. Assay results will be released as they become available. The permit areas are located in the north of the country near the town of Bir Moghrein and at Bir En Nar in Zednes region. These were 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 region's prospectivity for uranium occurrences. To view Fig.3 Location of Murchison United's exploration permits in Mauritania, please open the following link in a new window: http://media3.marketwire.com/docs/muu0317fig3.pdf 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. In Guinea, initial drilling of the Company's Bohoduo uranium prospect and reconnaissance exploration at the Sesse uranium prospect is to be carried out during Q2 2008. A 5,000m diamond drilling program at Firawa prospect in Guinea, is scheduled to commence in September 2008 following the wet season, targeting a JORC compliant resource estimate to follow up initial drilling carried out in 2007. Commenting on the results, Murchison United's Managing Director, Mr Mark Reilly, said "The exciting results attained so far at Bir En Nar in Mauritania follow on from the successful drilling program undertaken last year at Firawa, Guinea, and the recently completed A$7.4 million share placement. We are eagerly awaiting the remaining logging and assay results from Bir En Nar and we look forward to embarking on further drilling programmes this year at the Bohoduo and Firawa Prospects in Guinea." 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 For further information regarding this announcement, please call Mark Reilly. .......... Mark Reilly Managing Director Notes: The information in this report that relates to exploration results in West Africa 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. Down hole gamma logging/probing of drill holes provides a powerful tool for uranium companies to explore for, and evaluate, uranium deposits. Such a method measures the natural gamma rays emitted from material surrounding a drill hole out to around 0.5 metre from its centre - the gamma probe is therefore capable of sampling a much larger volume than that which would normally be recovered from a core or RC hole. These measurements are used to estimate uranium concentrations with the commonly accepted initial assumption being that the uranium is in (secular) equilibrium with its daughter products (or radio-nuclides) which are the principal gamma emitters. If uranium is not in equilibrium (viz. in disequilibrium) - as a result of the redistribution (depletion or enhancement) of uranium and/or its daughter products - then the true uranium concentration in the holes logged using the gamma probe will be higher or lower than those reported in the announcement. Total count gamma logging does not account for energy derived from thorium and potassium but is calibrated on the uranium band and factor applied to account for the average effect of thorium and potassium and thus the result is expressed as an equivalent value or ppm eU308. The logging programme was undertaken by Poseidon Geophysics (Pty) Ltd utilising an Auslog Logging System using instruments calibrated at Pelindaba, South Africa, an IAEA accepted and approved standard facility. Data was converted from raw counts per second of natural gamma rays to eU3O8 using the calibration constant obtained from measurements made at the Pelindaba calibration borehole. Poseidon Geophysics carried out regular checks to validate the accuracy of probe data using a test hole, BNR14, located on site. Uranium mineralisation grades through this report annotated with a sub-prefix 'e' have been reported as uranium equivalent grades derived from down-hole gamma ray logging results and should be regarded as approximations only. Murchison United N.L
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