More land, uranium mineralisation for Globe

Mining News

FIRST trench results from its Kanyika project in Malawi have confirmed widespread uranium mineralisation at the prospect, Globe Uranium reported today, with the company also announcing the addition of a new prospecting licence to its tenements in the area.

At Kanyika, Globe said the first results from trench sampling had returned grades of 18m at 386 parts per million uranium, 13m at 223ppm uranium and 4m at 194ppm. The results came from an area where previous reconnaissance had identified "a strong, coherent uranium anomaly in soil and rock over an area of 2500m by 350m", Globe said.

"They are the first samples from an extensive program of trench excavation and systematic, representative rock chip sampling over an outcropping low ride in the central portion of the anomaly," the company added.

So far, the results have confirmed three zones of uranium mineralisation, which are open to the north and south, with analytical results from a further nine trenches along a 1500m strike length due soon and another 3000m of trenching and rock chip sampling ongoing.

The company also said reverse circulation drilling would begin at Kanyika later this month. Additionally, Globe said it has been granted a new 130 square kilometre exclusive prospecting  licence at Nthalire, 50km north of its Livingstonia project and nearby to Paladin's exploration licences in the region.

The company said it believed the area is "highly prospective for sandstone-hosted, roll-front style uranium deposits" and it was reviewing earlier records and reports to identify priority targets at the new tenement. Shares in Globe shed 1.5c to 98.5c in late morning trade today.