Uranex Limited: High Grade Graphite Results From Nachu Project
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.
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|Table 2 – Analytical results from outcrop samples taken in February 2013|
|Sample Number||Host Rock type||% Graphitic Carbon||Easting||Northing|
|% Total Graphitic Carbon|
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.
Chief Executive Officer
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>