EDITOR: | June 7th, 2013

Uranex Limited: High Grade Graphite Results From Nachu Project

| June 07, 2013 | No Comments
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June 7, 2013 — Melbourne, Australia (Source: Uranex Limited) — Uranex Limited (ASX: UNX) (“Uranex” or the “Company”) is pleased to provide the analytical results of outcrop samples taken on the Nachu Graphite deposit in May 2013.

These samples were taken during a visit to the tenement in early May 2013 by Mr.Laurence Matthews of Badger Mining and Consulting and the Uranex Geology team. The observations of this visit were reported to the market in the announcement made on 13 May 2013.

Mr Matthews commented that, “The graphite mineralization appears to be very similar to the Ancuabe deposit in Mozambique. The variation in grade reflects the lithology of the original beds and is to be expected in this deposit.” CEO Rod Chittenden said, “These excellent results confirm that this tenement has potential for a significant graphite resource which has many attractive features including:

  • up to 19 kms of strike length of potential mineralisation that outcrops
  • a relatively flat lying dip of 20 degrees to the south-west could indicate a relatively easy mining operation
  • medium to coarse flake size observed by the geologists
  • approximately 200 kms to the port of Mtwara.” 

Samples and Results

The analytical results of the May 2013 sampling can be seen in Table 1 below. Samples were analysed and a certificate of the results issued by the accredited ALS Minerals Laboratories. The LECO method was used to determine the graphitic carbon content of the samples.

Table   1 – Analytical results of the May 2013 Nachu outcrop samples
(Sorted by Northing)
Sample ID Rock Type % Graphitic Carbon * Easting Northing
NARK1023 Mica quartz graphitic Schist 9.22 487895 8913949
NARK1024 Mica quartz graphitic Schist 12.15 487821 8913520
NARK1034 Quartz graphite Schist 13.3 485466 8907730
NARK1036 Quartz graphite Schist 11.15 485347 8907706
NARK1030 Graphitic quartz schist 14.45 486469 8907095
NARK1031 Graphitic quartz schist 19.7 486496 8907004
NARK1029 Graphitic quartz schist 16.1 486604 8906879
NARK1027 Graphitic mica quartz Schist 8.38 487062 8904779
NARK1028 Graphitic mica quartz Schist 8.8 486945 8904775
NARK1035 Quartz graphite Schist 7.45 486271 8902103
NARK1025 Mica quartz graphitic Schist 54.7 487404 8898924
NARK1033 Quartz graphite Schist 14.85 487250 8898908
NARK1026 Quartz graphite Schist 9.29 487264 8895158
NARK1032 Quartz graphite Schist 18.95 490149 8894983
* Total Graphitic   Carbon

Figure 1 below indicates the location of where the May samples were taken together with the location of samples taken in February 2013.

Figure 1 – Sample locations on the tenement

Figure 1 – Sample locations on the tenement

 

 

Table   2 – Analytical results from outcrop samples taken in February 2013
Sample Number Host Rock type % Graphitic Carbon Easting Northing
NARK1001 Graphitic schist 13.9 485698 8907770
NARK1003 Graphitic schist 13.6 485689 8907807
NARK1005 Graphitic schist 13.95 485620 8907678
NARK1015 Graphitic schist 11.5 486421 8899372
NARK1017 Graphitic schist 9.55 486419 8899362
NARK1019 Graphitic schist 9.95 486437 8899232
NARK1021 Graphitic schist 7.99 486677 8899166
% Total Graphitic   Carbon

 

Figure 2 – Location of February 2013 samples

Figure 2 – Location of February 2013 samples

 

The latest results show that there may be two main zones. A zone, north of the centre of the tenement, has sample assays ranging from 13.3% to 19.7% Cg. The southern zone has sample grades ranging from 7.45% to 9.95% but with occasional high grades such as sample NARK 1025 with 54.7% Cg.

The latest results do not incorporate the visible high grade samples which were announced on 4 June 2013, a sample of which has been sent to the laboratory for analysis.

Next phase of exploration

As reported recently, the next phase of exploration will commence on June 10 with a programme of trenching and pitting. Samples from this work will be taken for further graphitics analysis and metallurgical testing.

Rod Chittenden

Chief Executive Officer

 


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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