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Xemplar Energy Corp. – Impressive Assay Results from Cape Cross Uranium Project
Namibia is fast making headway as a premier destination for uranium. According to the World Nuclear Association, Namibia has two significant uranium mines capable of providing 10% of world mining output. Unlike some African countries Namibia has ushered in a mining friendly environment as well thus prompting several established mining companies to set up operations in the country. Mining is the main foreign exchange earner and accounts for 50% of export earnings and approximately 15% of GDP. Together with diamonds, uranium plays a major role in the Namibian mining industry. Its main uranium mine Rossing Uranium, is majority-owned by Rio Tinto. Australian listed Paladin Resources opened Namibia's second mine, Langer Heinrich Uranium.
It is against this backdrop that the rapid progress by Xemplar Energy Corp. (TSX-Venture: XE, Frankfurt: E7R, Namibian Exchange: XEM) in Namibia becomes a matter of interest. Xemplar has amassed an impressive portfolio of uranium properties and holds a 100% exploration rights in the Engo Valley, Cape Cross, Aus-Garub and Warmbad regions through its wholly owned Namibian subsidiary.
Since its acquisition, Xemplar has been working on these properties and has made considerable progress. The latest development is preliminary chemical assay results from reverse circulation drilling carried out on the Cape Cross Uranium project. Highlights of the initial chemical assay results received to date, from the Company's 2008 and 2009 drill programme at Cape Cross have indeed been promising with some holes yielding grades as high as 264 ppm U3O8 (RCOR21). Drill holes RCOR20, RCOR19, RCOR22 and RCOR18 have also reported attractive grades (199.6 ppm, 160.7 ppm, 157.45 ppm and 85.6 ppm respectively).
Spaced 100 metres apart, these five drill holes were drilled in the Oraweb paleochannel in a fence at a right angle to the channel. Drill holes to the west of drill RCOR18 did not carry any significant values while the area to the east of drill hole RCOR22 has not been tested. These results show a minimum width of 500 metres for the paleochannel at this point. Geophysical surveys and geological mapping has outlined 3 prospective paleochannels, totalling 100 kilometres in length on the Cape Cross property.
Given its location, high grades from Cape Cross cause little surprise. The project is located approximately 20 kilometres inland from Henties Bay and within the country's Uranium Corridor, where large uranium mines (Rossing, Langer Heinrich) and deposits (Trekkopje, Valencia, Rossing South, Idadome, Marenica, Tubas, Etango) are found.
The exploration targets at Cape Cross are mineralized palaeochannels containing uranium in the form of carnotite (that is, secondary uranium mineralization associated with calcrete palaeochannels). The mineralization model would best be described as Langer Heinrich-type deposit. Langer Heinrich is a sedimentary uranium deposit located within the Namib-Naukluft Park and where Paladin Resources of Australia commenced production in March, 2007. The mineralization model at Cape Cross is also similar to that of Areva's (Uramin Inc.) Trekkopje deposit which is currently being developed into a mine.
Exploits at Cape Cross has not taken Xemplar’s focus away from its equally attractive Warmbad project and the company is continuing its extensive drill programme. Drill results so far at the Warmbad remain encouraging as they confirm wide zones of uraniferous granite (alaskite) at depth and are proving highly successful in prioritizing project drill targets. The prioritisation of drill targets is founded upon an enhanced understanding of the underlying geology of the Warmbad alaskite bodies.
About Xemplar
Xemplar is a Canadian company focused on uranium exploration in Namibia. The Company holds a 100% exploration rights in uranium properties in the Engo Valley, Cape Cross, Aus-Garub and Warmbad regions through its wholly owned Namibian subsidiary. The Company currently holds Exploration Prospecting Licenses (EPL) for its Cape Cross, Aus and Warmbad properties and is waiting to be awarded EPLs for its Engo Valley and Garub properties. With the current EPLs that it holds, it is the largest uranium exploration license holder in Namibia.
