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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 |
---|---|---|---|---|---|
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 9 May 2008 Uranium Drilling to Commence in Guinea, West Africa - Initial uranium drilling programme scheduled to commence at the Bohoduo Uranium Prospect in Guinea around 15 May 2008. - Initial programme will comprise 14 holes of between 50m and 150m in length for 950m in total, with a further six holes planned if warranted. - Drilling programme to follow up previously reported sampling results of up to 433ppm Uranium. Murchison United NL (ASX: MUR, AIM: MUU) is pleased to announce that drilling is scheduled to commence shortly at its Bohoduo uranium prospect in the Republic of Guinea, West Africa. This programme follows recent successful drilling campaigns carried out by the Company at the Firawa prospect in Guinea and the Bir En Nar prospect in Mauritania. With preparations including topographic surveys and bulldozing already completed, the drill rig is currently being transported to Bohoduo and is scheduled to start drilling around 15 May 2008. The initial drilling programme is expected to take approximately one month to complete and will comprise 14 holes of between 50m and 150m in length for a total of 950m, with a further six holes identified for drilling if warranted. The drilling programme will be carried out by Amco Construction, with assay samples taken for multi-element analysis by ALS Chemex in Canada. Drilling will target a 700 metre long uranium anomaly at the Bohoduo Prospect which was the subject of groundwork by Davy McKee in the 1980s. Previous work included pit and trench ground work and some incomplete diamond drilling. The anomaly identified by Davy Mckee occurs in an area where small granite bodies intrude paragneiss along a shear zone. A field visit undertaken in 2006 by Murchison's Technical Director, Bosse Gustafsson, confirmed the presence of uranium mineralization with the limited grab samples collected returning grades of up to 433ppm uranium. Airborne geophysical data indicates a 12 km long extension of the anomaly to the east. Figure 1 overleaf shows the planned drill-hole locations. The map also indicates locations for a further 6 holes for drilling if warranted. Fig.1 Bohoduo drilling programme May 2008 (to view image, please open the following link in a new window) http://media3.marketwire.com/docs/bohohuo.pdf 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/Murchison.pdf Preparatory work at Firawa including topography surveys, bulldozing and site preparations is also being undertaken during May 2008 in readiness for a substantial 5,000 metre diamond drill programme to follow up the results of the initial successful RC drilling programme completed in May 2007. The diamond drilling programme is scheduled to commence in October 2008, following the wet season. Fig.3 Location of Bohoduo drilling programme in Guinea (to view image, please open the following link in a new window) http://media3.marketwire.com/docs/LocationofBohoduo.pdf To support this significant work programme in Guinea, Murchison has appointed a geologist who will be based in Guinea working out of the Company's recently established office at the regional centre of Kankan, from which these exploration programmes will be managed. Murchison United has secured an extensive portfolio of uranium exploration projects comprising some 16,479km2 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/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 Alternative Investment Market (AIM - MUU) of the London Stock Exchange. Please call Mark Reilly with any queries. .......... Mark Reilly Managing Director Murchison's Nominated Advisor for the AIM market is RFC Corporate Finance Ltd. Contact: Stuart Laing, Ph: +618 9480 2506 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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