Uranium miner Kalahari Minerals Plc said on Tuesday that the Australia-based uranium explorer Extract Resources, in which Kalahari subsidiary Kalahari Uranium holds a 39.50 percent stake, had discovered significant uranium deposits at its Namibian prospect.
Kalahari Minerals said that the 108 million pounds of uranium oxide, at a grade of 430 parts per million confirms Rossing South as the highest grade uranium deposit in Namibia.
It gives the uranium explorer, Extract, a total resource estimate of 133.1 million pounds, Kalahari Minerals said.
Kalahari chairman Mark Hohnen said the deposit has become the highest grade granite-hosted uranium deposit in Namibia, and that future upgrades to the estimate could propel it into the top 10 global uranium deposits.
Hohnen said that with the location of Rossing South deposit, which is adjacent to Rio Tinto's Rossing Mine, Paladin Resources' Langer Heinrich Mine and Toronto-listed Forsys Metals Corp, the Rossing South deposit could be developed into a highly profitable project.
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