Aussinanis Project - June 2010
The Aussinanis Project is located within EPL 3498 approximately 100 kilometres SSW of Swakopmund (Figure 1).
Figure 1: Tenement and Project Area Location Map
In late May Hellman & Schofield completed a Mineral Resource estimate for Aussinanis comprising Indicated and Inferred resources reported in accordance with the JORC Code for a total of 35 M tonnes at 237 ppm eU3O8 for 8,203 tonnes (18.1 Mlb) eU3O8 at cut-off grade of 150 ppm eU3O8.
Uranium mineralisation is present from surface to an average depth of 6 metres as carnotite hosted in sediments and calcrete. Deep Yellow is assessing a move to a Conceptual Study for the determination of preliminary project economics.
Uranium mineralisation at Aussinanis occurs as secondary carnotite enrichment of variably calcretised palaeochannel and sheetwash sediments and adjacent weathered bedrock within a northeast trending zone approximately 29 kilometres in length (Figure 2). The mineralisation commonly outcrops but is generally overlain by an average thickness 1.7 metres of poorly mineralised material. Mineralised domain thickness ranges from 1 to 19 metres and average approximately 4.4 metres.
Results of the Mineral Resource estimate indicate that Aussinanis is a very large, low-grade uranium resource. However given its proximity to other uranium resources held by RUN in the area, RUN are assessing the merits of embarking on a Conceptual Study to determine preliminary project economics as a standalone project or in conjunction with other 100% owned uranium resources.
Table 1: Aussinanis - Mineral Resource Estimate
| Category | Million Tonnes |
Grade (eU3O8 ppm) |
Tonnes (eU3O8) |
Million Lbs (eU3O8) |
| Indicated | 5.6 | 222 | 1,243 | 2.74 |
| Inferred | 29 | 240 | 6,960 | 15.3 |
| TOTAL | 35 | 237 | 8,203 | 18.1 |
Figures have been rounded to reflect the accuracy of estimates and include rounding errors. Cut-off Grade 150 ppm eU3O8
Figure 2: Mineralised Domain Outlines and Grade Thickness Intersections