Equinox confirms high grade uranium at Lumwana project
Equinox confirms high grade uranium at Lumwana projectBy Kabanda Chulu
Saturday November 17, 2007 [03:00]
EQUINOX Minerals has confirmed that its Uranium Feasibility Study (UFS) has revealed high grade uranium mineralisation within the Malundwe ore body being mined as part of the Lumwana copper project in north-western Zambia. However mines minister Dr Kalombo Mwansa recently stated that it would be illegal for any investor to start mining uranium because current regulations do not allow for such operations.
After discovering uranium deposits earlier this year, Equinox contracted Ausenco Projects Limited to manage and implement the UFS, which would soon be completed and it has revealed an intensive infill drill programme comprising a total of 158 reverse circulation (RC) percussion drill holes spread along the 2 kilometre strike length of uranium mineralisation.
Announcing the drill results yesterday, Equinox chief executive officer Craig Williams stated that the Malundwe deposit hosts significant uranium mineralisation along the central portion of the copper ore body’s western flank.
“The purpose of the UFS drilling programme is to upgrade the previously defined Malundwe uranium resources to an indicated and measured status and we are pleased to report that the UFS infill drilling programme at our Lumwana Project in the North Western Province of Zambia has further defined and confirmed discrete zones of high grade uranium mineralisation within the larger Malundwe copper ore body currently being mined as part of the Lumwana Copper Project,” Williams stated.
He stated that the UFS infill drill programme has provided the confidence required to fully evaluate and define the high-grade uranium zones associated with the Malundwe copper ore body.
“We are encouraged that these results will support a viable development plan to extract a uranium by-product as part of Lumwana copper mine that is now at an advanced stage of construction,” stated Williams.
The Lumwana Uranium Mineral Resources has been estimated at 9.5 million tonnes with a grading of 0.042 per cent and its mineralisation is predominantly hosted within the Malundwe copper sulphide ore body.
Dr Mwansa said the government would soon start reviewing the 1995 mines Act so that it could conform to recent discoveries in the sector.
He said the Act does not allow mining of uranium and recent discoveries in the Kariba area by OmegaCorp and in North Western Province by Equinox were being closely monitored.
posted by MrK @ 9:11 PM
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