Hi ALLJust been reading an RAI announcement from last week,...

Hi ALL

Just been reading an RAI announcement from last week, about MHL's JV partner RAI getting approval for a new uranium lease next to MHL's existing uranium lease.

I have pasted a copy below.

Should this be read as if MHL also has an interest in this new lease next to the presently held one or is it completely separate?

If RAI thought it important enough to announce why hasn't MHL?

Cheers

sk2000






February 18 2010

Raisama granted prospective new lease at Kashkasu II Uranium project

Highlights:
Raisama granted new, highly prospective, uranium tenement after discovering high grade uranium mineralisation during recent drilling in the Kyrgyz Republic
New tenement secures ground along strike to the NW and SE of uranium bearing formations in the existing East Kokmoinok Licence
Raisama Ltd (ASX: RAI) has been granted a significant new exploration licence area to extend its tenement package at the East Kokmoinok area of the Kashkasu II uranium project in the Kyrgyz Republic. Raisama applied for and was granted the extension to the East Kokmoinok area after discovering high grade uranium mineralisation in its initial drilling program on the project earlier this year. The results from 4 diamond drill holes have confirmed that the Kashkasu II uranium project is a highly prospective and potentially valuable project requiring more exploration. Assays from the drilling revealed the presence of multiple, high-grade zones of coal and sandstone hosted uranium mineralisation at Kashkasu II within a broad area where mineralisation has been identified at surface over a strike length of more than 350m. The best results from the earlier drilling included 3m @ 1651 ppm U3O8 from a depth of 72m, 2m @ 1521 ppm U3O8 from 77m, 3m @ 499 ppm U3O8 from 44m and 5m @ 465 ppm U3O8 from 55m (see RAI announcement dated 27 January 2010). All four holes were drilled beneath areas of surface anomalism and recorded significant intercepts from as shallow as 33m down hole and to a maximum of 105m down hole. The drilling also indicated the potential for additional hanging wall and foot wall zones that may extend to surface. The mineralisation also appears to be open down-dip. Based on the drilling results the mineralisation appears to be striking north-west to south-east and is open in both directions along strike prompting Raisama to seek the additional ground for further exploration.
A second diamond drilling program at Kashkasu II will commence during April 2010.
2
Raisamas main priority in the new drilling program will be to define the limits and extensions to the mineralisation and identify potential zones of uranium accumulation within the prospective stratigraphic horizons. Further exploration work is continuing and this includes acquisition of further data including satellite imagery, geological mapping, surface sampling and radiometric traversing to define additional targets and extensions of the current mineralisation for drilling in the 2010 field season. An application was submitted to the Kyrgyz Ministry of Natural Resources in January, 2010 for a licence to secure the highly prospective ground for uranium mineralisation located along strike to the north-west and south-east of the U bearing formations covered by the existing East Kokmoinok Licence. On January 25, 2010 the Ministry approved the new licence, N 2546 MP, covering 14km2 for a two-year term. The granting of this new licence is important because it secures the outcropping uranium bearing formation for more than 2.5km to the north-west and for about 1km to the south-east. Raisama owns 75% of the company that has the rights to explore and develop uranium at the Kashkasu II project, located approximately 300km south of the capital, Bishkek. Monitor Energy Limited will retain a 22.5% interest in the project. Uranium was historically mined to the east of the current licence area from 1950-1961. The World Bank recently ranked the Kyrgyz Republic at number 41 in a global survey of the ease of doing business around the world. The Kyrgyz Republic ranked slightly behind Qatar (39), South Africa (34) and the United Arab Emirates (33) and ahead of Portugal (47), Chile (49) and Mexico (51).