RESOURCE WRAP - egoli's mining, resource & energy round up 30/08/05 By: egoli
Giralia Resources NL (GIR) advises that they have acquired two new adjoining tenements that compliment existing holdings in the Kimberley region of Western Australia. The two new exploration tenements include the Mad Gap uranium prospect, from private interests for a consideration of 60,000 Giralia shares and a further 200,000 shares in a proposed new uranium listing. The private group will retain rights to diamond deposits. Rock chip sampling in the 1970s on the newly acquired Mad Gap tenements returned assays including 4.65% U3O8, 4.42% U3O8 and 1.69% U3O8 from pits on outcropping secondary uranium mineralisation located along joints and cracks and within porous, highly weathered sandstones, said Giralia. Uranium mineralisation is exposed for over 20 kilometres around the Mad Gap Anticline, hosted by the Brown Sandstone unit of the O'Donnell Formation, the basal member of a Palaeoproterozoic sediment sequence unconformably overlying older rocks of the Halls Creek Orogen, they said. They said they would continue to review various options for the possible separate listing of its wholly owned uranium assets.
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