Xemplar Energy
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2010-11-08 11:13 ET - News Release
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Mr. Simon Tam reports
XEMPLAR PROVIDES UPDATE ON NAMIBIAN URANIUM EXPLORATION
Xemplar Energy Corp. is providing its shareholders with an update on its Namibian uranium exploration program.
Cape Cross uranium project
The Cape Cross project consist of three adjoining EPLs(exploration prospecting licences) which covers a combined area of 2,041 square kilometres and are situated within the uranium corridor in Namibia. World-class uranium mines such as Rossing and Langer Heinrich are located within the uranium corridor, as well as uranium deposits (Trekkopje, Valencia, Rossing South, Idadome, Marenica, Tubas and Etango) which are being developed.
Within the boundaries of Xemplar's current property holdings, General Mining & Finance Corp. Ltd., and Gold Fields Prospecting (Pty.) Ltd. completed a significant amount of trenching as well as a shallow (maximum 25 metres) surface drilling program in the Mile 72 area during the 1970s to expose both pedogenic and primary uranium mineralization. Regional and detailed surface radiometric surveys discovered approximately eight radiometric anomalies of which Mile 72 Area A and Mile 72 Area B were determined as most promising. In "Linning, K. 1973, Myl Sewe-Twee (Pty.) Ltd. Prospecting Grant M 46/3/334, Annual Report 1972 Unpubl. Rep., General Mining and Finance Corporation Ltd.," a combination of two ore bodies (Mile 72 Area A and Mile 72 Area B) was described as ore proven by percussion drilling equalling approximately 200,000 tons grading 0.35 kilograms/ton U3O8. In "Roesener, H. and Schreuder, C.P. (1992). Uranium, 7.1-1-7.1-55. In: Geological Survey of Namibia. (1992). The Mineral Resources of Namibia., 1.1-1-9-17pp.", a probable reserve of 386,000 tons averaging 230 grams/ton was stated. This estimate used "Labuschagne, A.N. 1976. Report on the Damara Mining Company Uranium Proposition. Grant M46/3/399. Unpubl. rep., Gold Fields Prospecting (Pty) Ltd." as its reference (unavailable for viewing).
Xemplar Provides Update on Namibian Uranium Exploration
Vancouver, British Columbia, Canada, November 8, 2010 - Xemplar Energy Corp.(TSX-V:XE, Frankfurt:E7R) (the “Company”) would like to provide its shareholders with an update on its Namibian uranium exploration program.
Cape Cross Uranium Project
The Cape Cross Project consist of three (3) adjoining EPL’s(Exploration Prospecting Licenses) which covers a combined area of 2,041 km² and are situated within the Uranium Corridor in Namibia. World class uranium mines such as Rossing and Langer Heinrich are located within the Uranium Corridor, as well as uranium deposits (Trekkopje, Valencia, Rossing South, Idadome, Marenica, Tubas and Etango) which are being developed.
Within the boundaries of Xemplar’s current property holdings, General Mining & Finance Corporation Ltd, and Gold Fields Prospecting (Pty) Ltd. completed a significant amount of trenching as well as a shallow (maximum 25 meters) surface drilling program in the Mile 72 area during the 1970’s to expose both pedogenic and primary uranium mineralization. Regional and detailed surface radiometric surveys discovered approximately eight (8) radiometric anomalies of which Mile 72 Area A and Mile 72 Area B were determined as most promising. In “Linning, K. 1973, Myl Sewe-Twee (Pty) Ltd. Prospecting Grant M 46/3/334, Annual Report 1972 Unpubl. Rep., General Mining and Finance Corporation Ltd.”, a combination of two ore bodies (Mile 72 Area A and Mile 72 Area B) was described as ore proven by percussion drilling equalling approximately 200,000 tons grading 0.35 kilograms/ton U3O8. In “Roesener, H. and Schreuder, C.P. (1992). Uranium, 7.1-1-7.1-55. In: Geological Survey of Namibia. (1992). The Mineral Resources of Namibia., 1.1–1-9–17pp.”, a probable reserve of 386,000 tons averaging 230 grams/ton was stated. This estimate used “Labuschagne, A.N. 1976. Report on the Damara Mining Company Uranium Proposition. Grant M46/3/399. Unpubl. rep., Gold Fields Prospecting (Pty) Ltd.” as its reference (unavailable for viewing).
The historical reserve estimates do not include assays or details of the calculations, therefore it is not possible to compare the categories of reserve with those required by NI 43-101. The company believes that the estimate is relevant to an appraisal of the merits of the property because the estimate was based on all drill data available at the time, and because there is no evidence of any subsequent work on the property. The company believes that the estimates may, to a limited extent, be reliable because they appear to have been prepared internally, for major companies. No more recent data or resource estimates are available in the public domain. No work has been done by a qualified person to classify the historical reserve estimate as a current resource or reserve. The company is not treating the historical reserve as a current mineral resource or reserve. The historical reserve estimate should not be relied on.
Extensive ground exploration has now been undertaken by Xemplar geologists and grab samples have returned values ranging from 938 ppm to U-13,300 ppm U (spectrometer readings). A single grab sample taken in the Mile 72_Area B has returned the following assay result:
Auch wenn die Nutzung der Atomenergie ein häufig diskutiertes Thema ist, fristet der Uranmarkt im Vergleich zu anderen Energiemärkten eher ein Schattendasein. Dies ist umso überraschender, als dass die Preise am Spotmarkt für Uran überproportional gestiegen sind. Zwar konnte Uran von der starken Preiserholung der anderen Energieträger in den letzten zwei Jahren kaum profitieren und die Preise tendierten zunächst eher seitwärts. Aber setzt man den Vergleich etwas früher zu Beginn der Hausse an den Ölmärkten im Jahr 2002 auf, so hat sich Uran mit einer Verfünffachung des damaligen Preisniveaus am stärksten innerhalb der Energieträger verteuert (Grafik 1). Wir wollen den Uranmarkt im Folgenden näher analysieren, die entscheidenden Preistreiber ausmachen und erklären, warum wir weiteres Preispotenzial sehen.