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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
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 |
MURCHISON UNITED NL ACN 009 087 852 ASX CODE: MUR, AIM CODE: MUU, Telephone: +618 9322 4071, Fax: +618 9322 4073 ASX, AIM and Media Release 28 October 2008 Resource Drilling Commences at Firawa Uranium Project in Guinea, West Africa HIGHLIGHTS * Follow-up drilling underway at the Firawa Uranium Prospect in Guinea, following on from the maiden drilling undertaken in 2007. * Current programme to comprise approximately 50 holes of diamond core drilling of up to 200m in length for 4,000m in total. * Drilling designed to delineate a JORC-Code compliant resource, following previously reported drilling assay results of up to 1,325ppm Uranium. International uranium company, Murchison United NL ("Murchison United" or the "Company") (ASX: MUR, AIM: MUU), is pleased to announce that a program of follow-up resource drilling has commenced at its 100%-owned Firawa uranium prospect in the Republic of Guinea, West Africa. The current follow-up drilling programme follows recent successful drilling campaigns carried out by the Company at the Bohoduo prospect in Guinea and the Bir En Nar prospect in Mauritania. It is designed to build on the Company's initial drilling campaign carried out at Firawa in May 2007. Preparations including topographic surveys and bulldozing were completed earlier this year prior to the wet season. This drilling programme is expected to take approximately one month to complete and will comprise approximately 50 holes of diamond core drilling of up to 200m in length for a planned total of 4,000m of drilling. The drilling programme is being carried out by Amco Construction, with assay samples to be dispatched for multi-element analysis by ALS Chemex in Canada. The programme was designed to follow up previous drilling undertaken in May 2007 within a highly prospective 2km section of a previously identified uranium anomaly which extends more than 5km within the Firawa exploration licences. It is expected that the additional results from the current drilling programme will enable calculation of an initial JORC Code compliant uranium resource for the Firawa prospect. Figure 1 below shows the planned drill-hole locations as well as the locations of the holes drilled in 2007. Fig.1 Firawa drilling programme, October 2008 (to view image, please open the following link in a new window): http://media3.marketwire.com/docs/muu1028fig1.pdf. The previous drilling undertaken in May 2007 comprised 29 RC drill holes for a total of 1,809m. The drilling was undertaken in a deep laterite weathered soil profile. The uranium mineralisation follows an East - West tectonic structure, interpreted as a fault zone, over a distance of five kilometres. Highlights from the assay results for the 2007 campaign follow: Drill Hole Intersection Section U3O8 Maximum 1m Section U3O8 RC Length (m) (m) (ppm) (ppm) FRW12 10 39 - 49 652 1,325 FRW30 5 30 - 35 749 1,020 FRW35 12 13 - 25 771 995 FRW31 5 1 - 6 678 983 FRW14 6 39 - 45 715 883 FRW34 4 53 - 57 615 840 FRW33 20 22 - 42 524 726 FRW33 2 48 - 50 630 680 FRW3 6 66 - 72 480 716 FRW15 8 20 - 28 409 693 FRW9 14 20 - 34 555 680 Murchison United has secured an extensive portfolio of uranium exploration projects comprising some 15,458km2 of highly prospective tenements in Mauritania and Guinea, West Africa. Its objective is to delineate significant new uranium deposits within these under-explored terrains. Fig.2 Location of Murchison United's Guinea Projects (to view image, please open the following link in a new window): http://media3.marketwire.com/docs/muu1028fig2.pdf. Murchison United NL is an Australian-based no liability company whose principal activity is minerals exploration. The Company has uranium exploration projects in Mauritania and Guinea in West Africa and copper interests in the Millennium copper/cobalt leases in Cloncurry, Queensland and the Maroochydore copper/cobalt project in Western Australia. Shares in the company are listed on both the Australian Stock Exchange (ASX - MUR) and the AIM market (AIM - MUU) of the London Stock Exchange. Please call Mark Reilly with any queries. .......... Mark Reilly Managing Director RFC Corporate Finance - Nomad Stuart Laing Tel: +618 9480 2506 Fairfax I.S. PLC - UK Broker Ewan Leggat / Laura Littley Tel: +44 207 598 5368 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. Murchison United N.L
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