This is what West Wits stated in its last announcement to the ASX:
West Wits will retain a JORC resource of 307,000 ounces over three prospects; the Radiant Resource, the Marquise Resource and the Emerald East Resource as well as all further underground gold and uranium targets. The exploration team will now commence a number of exploration programs immediately, which will be focused on two previously identified near surface targets, the LIP Target and the Emerald East Target, as well as two uranium targets known as Harrier and Raptor Targets. In anticipation of completing this transaction and receipt of the proceeds, the Company is also assessing a number of additional gold projects within West Africa.
This is what was said in their 2009 Annual Report about the Harrier and Raptor Targets:
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Harrier Target The Bird Reef Group, which is predominately uranium bearing, intersects the Rand Leases
on an approximate 3km east-west span.
This section of Bird Reef has remained unexploited primarily due to the strategic focus of the
previous lease owner.
On the adjacent DRD Lease an initial exploration program completed in the June quarter
2008, confirmed significant uranium mineralisation within the reef.
The Bird Reef continues to run through the Rand Lease from the DRD Lease forming 10km
of uranium strike potential.
The reef is intact from surface and open at depth.
A planned diamond program has been finalised to test the grades and widths of the Bird
Reef within the Rand Lease to confirm the length of the strike horizon of the reef.
Harri er Targ et (Rand Lease Bird Reef)
In conjunction with further drilling programs focused on the Raptor Target, West Wits intends to pursue
drilling the section of Bird Reef Group within the adjacent Rand Lease, known as the Harrier Target. The Bird
Reef Group intersects the Rand Leases on an approximate 3.4km east-west span. Whilst the Bird Reef Group
within the DRD Lease experienced no historical mining activity, the Bird Reef Group was exploited within Rand
Leases, but for gold only. The Company is expecting to undertake its initial drill program at this target once
commissioning at the Emerald Resource has been achieved and board approval for exploration on new targets
has been resolved.
Rand Leases supported gold mining on the White Reef within the Bird Reef Group, however there is no known
recorded exploitation of the uranium bearing Monarch Reefs. The Company has designed a drilling program as
well as identified possible underground access points to investigate the potential of the Monarch Reefs within
Rand Leases, if initial assay results confirm the Harrier Target's prospectivity for uranium.
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Raptor Target 3.3km of 6km strike tested for uranium mineralisation.
Assay results received were in line with historically mined average grades.
Follow up program has been finalised and will be completed in conjunction with the Harrier
Target program.
Raptor Targ et (Bird Reef DRD Lease)
West Wits completed its initial exploration program on the Raptor Target, a section of the Bird Reef Group
within the DRD Lease, in June 2008. The Raptor Target is being explored for uranium mineralisation and the
initial program undertaken was seeking to confirm the precise location of the Bird Reef Group (Monarch and
White Reefs), the nature of the reefs (grade and width) and the continuity of the reefs down to approximately
500m below surface. The Company currently has a conceptual target at the Raptor Target of 12.2 to 16.2
million pounds of uranium as well as 460,000 to 565,500 ozs of gold down to 500 metres vertical depth.
The assay results from this program, confirmed the prospectively of the target, with a consistent mineralised
uranium and gold bearing system across a 3.3km section of Bird Reef within the DRD Lease being identified.
This exploration program left this target section of reef open to the east and west boundaries of the DRD lease,
and open at depth. A further 2.7km section of the Bird Reef within the DRD lease is yet to be investigated along
with approximately 3.4km of Bird Reef which intersects the adjacent Rand Lease.
The Company is encouraged by the grades and widths of the intercepts returned from this program. A follow
up drill program has been finalised and will be completed in conjunction with the exploration program focused
on the section of Bird Reef which intersects the adjacent Rand Lease, known as the Harrier Target.
The Bird Reef Group was never mined on the DRD Lease and only limited mining for gold mineralisation occurred
on the adjacent Rand Lease, yet approximately 37 million pounds of uranium was extracted from three of the
Companys other leases to the west, East Champ dOr, Luipaardsvlei and West Rand Consolidated leases
The gold assays received as part of the initial program confirmed anomalous gold mineralisation and has
offered the possibility of gold being produced as by-product if the uranium mineralisation proves economic.
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Last
1.2¢ |
Change
-0.002(14.3%) |
Mkt cap ! $40.66M |
Open | High | Low | Value | Volume |
1.4¢ | 1.4¢ | 1.2¢ | $27.33K | 2.109M |
Buyers (Bids)
No. | Vol. | Price($) |
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15 | 4737266 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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1.4¢ | 674741 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 151538 | 0.009 |
7 | 3588613 | 0.008 |
2 | 1409048 | 0.007 |
2 | 2142999 | 0.006 |
3 | 1400000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 2172152 | 5 |
0.011 | 390000 | 2 |
0.012 | 3000000 | 2 |
0.014 | 1000000 | 1 |
0.015 | 1000000 | 1 |
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