Machinga
The Exclusive Prospecting Licence, EPL 0230/07, “Machinga”, covering an area of 378 sq km, is held by Eastbourne Exploration Ltd, a company fully owned by Retail Star Limited. The Machinga property is located just north of the old capital city of Zomba in south central Malawi.
The EPL encompasses a number of high priority targets for uranium exploration. Peak airborne radiometric anomalies are in the order of 10 to 12 times higher than background readings within these target zones.
Exploration work by Resource Star has defined an area of some 2km x 500m that has outcrops anomalous in uranium, niobium, tantalum, zircon and rare earth elements; and there are indications that some degree of mineralisation may continue for as much as 7km. An extension to the lease area has been applied for to the south and east of the existing tenement.
Resource Star has entered into a joint venture with Globe Metals & Mining Ltd (ASX : GBE) to explore the Machinga Project. The unusual style of mineralisation is similar to their Kanyika Project, also in Malawi, and in addition to funding the exploration, potentially to feasibility study stage, they bring significant expertise in this style of deposit, and short term logistical benefits; and, in the event of development there will be construction, operational and marketing synergies.
The agreement also provides for RSL having first right-of-refusal over an exploration joint venture over Globe's sandstone-hosted uranium Livingstonia Project, also in Malawi.
Orientation soil sampling completed by Resource Star at the end of the 2009 field season has confirmed the multi-metal prospectivity of the 7km airborne radiometric anomaly that lies along the granite contact.
Trenching, further soil sampling, and drilling is planned for 2010.