RSS UpdatesCompany Information for Kalahari Minerals Plc
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 AIM; KAH
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Company Statement
Kalahari Minerals plc is an AIM and NSX listed resource company with uranium, gold, copper and other base metal interests in Namibia.
The Company’s key value drivers are its holding of approximately 40% in ASX, TSX and NSX listed Extract Resources Limited and its circa 45% interest in AIM listed North River Resources plc.
Extract Resources is developing the Husab Uranium Project, strategically located within a 50km radius of several world class uranium deposits. Consistently high assay results have identified the Rössing South discovery, one of two key areas within Husab, as one of the world's largest uranium deposits with a JORC resource of 267 M lb at a grade of 487 ppm U3O8 over two zones. Importantly both zones are open ended at depth and along strike. The Board of Kalahari is confident that Extract has the ground and potential to deliver a resource in the region of 500 M lbs U3O8.
Kalahari is interested in extensive copper and base metals projects through its controlling interest in North River Resources. The Dordabis and Witvlei Projects are prospective for sediment hosted copper mineralisation consistent with the world class Zambian Copper Belt. A third project, Ubib, is believed to be prospective for gold mineralisation and is nearby the operating Navachab gold mine. North River, in tandem with Kalahari is also evaluating its highly prospective Namib Lead Zinc Project centred on the old Namib Lead Mine.
Current Operations
Uranium
The Company has exposure to the uranium market through its holding in ASX listed Extract Resources. Extract’s main asset is the Husab Uranium Project, located within the alaskite belt approximately 45km north-east of Namibia’s main port, Walvis Bay. The project is strategically located within a 50km radius of several world class uranium deposits and this geographical region is considered to be one of the most prolific uranium areas globally.
The Rössing Uranium deposit, located to the north of Husab, in which Rio Tinto has a 68% interest, currently supplies 8% of the worlds uranium and has seen 30 years of uninterrupted operation. The Langer Heinrich deposit, located to the east of Extract’s property, is also operational and has been producing since early 2008. Both of these operational mines are located within 30km of Extract leases.
Copper
Kalahari’s copper exposure is through its controlling circa 45% interest in AIM listed North River Resources.
Located within the heart of the prospective Kalahari Copper Belt, which was discovered in the 1960s, North River controls two major project areas:
- The Dordabis Project compromising Exclusive Prospecting Licences (EPL) 3257, 3279 and 3617
- The Witvlei Project comprising EPLs 3258 and 3261, which combined cover a total area of 1532 km².
North River, in tandem with Kalahari, is currently undertaking an exploration programme to define +250,000 tonnes of copper metal at Dordabis and Witvlei. The principal targets are the Koperberg Project, which has a current JORC Inferred Resource of 1.74Mt grading 0.9% copper (‘Cu’), representing 17,000 tonnes in-situ metal, and the RK Project, which has a non-JORC compliant in-house resource estimate of 550Kt grading 1.25% Cu at 0.5% copper cut-off, representing 6,875 tonnes of in-situ metal. Development activity will be focused on the appraisal of these heap leach copper projects with a view to achieving production as soon as practicable.
Ubib Copper/Gold Project
Kalahari, through its circa 45% interest in North River Resources, has exposure to the Ubib Copper/Gold Project which is located 15km south-west of Namibia’s longest producing gold mine, the four million ounce Navachab Gold Mine. A 1.4km of laterally continuous gold in soil anomaly has been identified within a Ferruginous shear zone. Best rock chip assay from the targeted drill area returned 10 g/t Au and 1.6 g/t Ag.
A total of 10 DD holes (2 abandoned) were completed for 2,209.6m testing two soil anomalies, the first over 1km of strike and the second, 1.7km to the NE, over 400m of strike. All holes returned elevated gold values with best assays being:
- 1.25 m @1.17 g/t Au, 1.86 g/t Ag, 0.1% Pb
- 3m @ 3.74 g/t Au, 1.56 g/t Ag.
- 2.25m @ 5.97g/t Au, 1.86 g/t Ag
The drilling in the NE lies in close proximity to a major thrust and it may have potential for greater mineralised widths than have been intersected to date. Evidence of chlorite/amphibolite/ hematite/sulphide alteration within quartzites at this locality suggests a major hydrothermal system exists in the area. Defining potential mineralisation associated with this alteration zone will form the focus of exploration going forward.
Namib Lead/Zinc Project
Kalahari is interested in the Namib Lead Zinc Project through its circa 45% holding in North River Resources.
The Namib Lead Zinc Project is centred on the previously producing Namib Lead Mine, which was in operation from 1965-1992. The underground mine remains semi-developed and preliminary metallurgical test work undertaken yielded favourable results indicating good separation of Lead (Pb) and Zinc (Zn) with high recoveries and grades.
Kalahari embarked on a detailed diamond and RC drilling programme in 2008, designed to validate remaining underground and tailings resources where historic non code compliant estimates of 1.65 Mt grading 5.7% Zn, 1.6% Pb and 40g/t Ag have been calculated. Down hole electromagnetic geophysical surveys have successfully been used to identify and confirm conductors outlining potential continuity and attitude of ore bodies along strike and at depth over all four of the known ore bodies at the Namib Project. RC drilling results to date (15,929m sub-surface and 1,450m on tailings dump) have confirmed historical grade intercepts and thicknesses and are ongoing in order to define a code compliant inferred/indicated mineral resource.
Geographical Spread
Namibia
Board of Directors and Key Management
| Mark Hohnen | Executive Chairman |
| Neil MacLachlan | Non-executive Director |
| Takashi Yasuda | Non-executive Director |
| Glyn Tonge | Non-Executive Director |
| David de Jongh Weill | Non-executive Director |
| Richard Lockwood | Non-Executive Director |
| Janis Nugawela | Joint Company Secretary |
| Duncan Craib | Chief Financial Officer and Joint Company Secretary |
| Sadike Nepela | General Manager |
Company Address1b, 38 Jermyn Street
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Additional Address/Key ContactFinancial Public Relations |
CapitalTotal issued share capital: 209,299,128 Ordinary Shares |
Year End31st December |
Nominated BrokersAmbrian Partners Limited | Nominated AdvisorsStrand Hanson Limited |
Major Shareholders
| Rio Tinto International Holdings Australia Pty Ltd | 28,179,810 | 13.46% |
| M&G Investment Management | 20,900,000 | 9.99% |
| Emerging Metals Limited | 17,600,000 | 8.41% |
| Coronet Resources Limited | 16,000,000 | 7.64% |
| Henderson New Star | 14,667,179 | 6.64% |
| Niger Uranium Limited | 13,680,000 | 6.54% |
| Blakeney Management Limited | 11,060,900 | 5.28% |
| New City Investment Managers | 6,935,398 | 3.31% |
| Regent Pacific Group Limited | 6,708,430 | 2.98% |
Related News
12/08/10 - Kalahari Minerals Has Orchestrated A Strong Defence Against Rio Tinto’s Attempt To Get Hold Of The Husab Uranium Project On The Cheap19/04/10 - Kalahari Minerals Trumps Rio Tinto At Rossing South By Bringing In Japanese Sovereign Interests
12/10/09 - Kalahari Minerals Hives Off Its Namibian Gold And Base Metals Assets Into North River Resources
17/08/09 - A Bright Future Beckons For Kalahari Minerals As Extract’s Uranium Resource Base Continues To Grow And Grow
05/02/09 - Rio Tinto Adopts Some Questionable Tactics In Its Efforts To Get Its Hands On The Rossing South Uranium Discovery
Most Recent Statement
11/08/10 - Resource Upgrade at Husab Uranium Project02/07/10 - Outstanding Infill Drilling Assay Results
28/06/10 - AGM Statement
22/06/10 - Extract Chairman’s Address to Shareholders
10/06/10 - APAC Resources Increases Interest in Kalahari
21/05/10 - Exceptional Assay Results from Rossing South