Initial drill results at Oshiveli

Australian-based uranium mine development company, Bannerman Resources...

  Australian-based uranium mine development company, Bannerman Resources has announced the initial results of an exploration drill program at its Oshiveli prospect in Namibia. Initial results confirm the presence of thick accumulations of uranium-bearing alas kite host rocks, with results including 58m @ 260 eppm U3O8 and some narrower, but higher-grade intercepts, including 14m @ 391 and 7m @ 913 eppm U3O8.Bannerman Resources Managing Director, Peter Batten said Oshiveli was the second prospect outside of the Anomaly A deposit to recently return economic grades and widths from drill holes. “The drilling was conducted at the southern end of the Oshiveli alas kite trend where it overlaps the Anomaly A deposit and indicates that the prospect has good potential to host further resources,” Mr Batten said. “The overlapping nature of the prospects could result in continuous mineralisation over a distance approaching six kilometres," he said.Bannerman drilled nine holes into the southern end of the prospect. The holes were probed with the company's Auslog total count gamma ray spectrometer. The radiometric counts were converted to represent eppm U3O8.The Oshiveli prospect is a 3km-long alaskite accumulation and is the largest in strike length of three overlapping prospects that include (from south to north) Anomaly A, Oshiveli and Onkelo.The initial nine-hole program was conducted at the very southern end of the prospect where Oshiveli overlaps with Anomaly A on the readily accessible peneplain. Bannerman said further drilling is planned at Oshiveli, following infill drilling of the Anomaly a resource.