Livingstonia Joint Venture
In 2010 Resource Star signed a Joint Venture agreement with Globe Metals and Mining over their Livingstonia Project, with Resource Star managing work and earning up to 80% equity.
The geological setting of Livingstonia is equivalent to Paladin’s recently-opened Kayelekera Mine, less than 100km to the northwest, and Mantra’s Mkuju River discovery in neighbouring Tanzania. The host to the mineralisation consists of a fault-bound block of gently-dipping terrestrial sediments, the same as those hosting Kayelekera.
In the course of their exploration of the area since 2006 Globe have drilled 94 holes for a total of 11,533m, intersecting fine and coarse-grained sediments and a basal coal unit below the main mineralised horizons, with more than 85% of the 80+ drill holes intersecting mineralisation at the Chombe Prospect.
Results have demonstrated reasonably consistent tabular mineralisation in a gently-dipping horizon towards the base of a relatively permeable sandstone unit lying between a basal coal measure and a mudstone cap.
An Inferred Mineral Resource at Livingstonia Uranium Project has been estimated on the basis of Globe’s earlier results as being 7.7 million tonnes averaging 270 ppm U3O8 for a contained 4.6 million pounds of U3O8, using a lower cut-off grade of 150 ppm U3O8. The estimate was prepared by independent consultants CSA Global Pty Ltd and was reported in accordance with the JORC Code (2004) for reporting Mineral Resource estimates, and released to the ASX on July 15th 2010.
Subsequent drilling at Livingstonia was planned to test the continuation of a number of postulated trends of thickened, high grade or stacked zones of the sandstone-hosted uranium mineralisation, and the potential of a zone of low grade mineralisation identified to the south east.
Results from the 2010 program (on the right-hand-side of the image) confirmed the zone of mineralisation along the eastern edge of previous drilling and discovered stacked, thickened horizons.
Results include:
- 11.80m @ 517ppm eU3O8 |
- 21.65m @ 306ppm eU3O8 |
- 33.95m @ 338ppm eU3O8 |
- 22.85m @ 225ppm eU3O8 |