Namibia-focused Kalahari Minerals says assay results confirm a ‘major new uranium discovery’ at the country’s Rossing South.

The AIM-quoted company, which has a portfolio of copper and base metal prospects in Namibia, also owns 36.2 per cent of Extract Resources, which is exploring Rossing South. Drilling results from this prospect, which is only 7 km south of Rio Tinto’s long-standing Rossing uranium mine, show 40 metres with 240 parts per million of uranium, including 8 metres with 998 parts per million from one hole (RBA001), and 100 metres with 265 parts per million, including 69 metres with 321 parts per million from another hole (RBA002).

Kalahari, which is also interested in the Ida Dome uranium project 20 km from Rossing South, says it might undertake feasibility work on both projects if drilling continues to return results like these. Kalahari shares, recommended by Growth Company Investor when they were floated in 2006 at 15p and again last week at 26.25p, have now hit 43.5p, valuing the company at £48 million.

Hold on.

Growth Company Investor is the UK’s leading authority on small-cap and AIM companies. You can gain immediate access to all the recent share recommendations with no obligation, with a free 30-day trial. Click here to join today.

Kalahari Minerals	AIM	£47.47m	28.50p	0.00p
Click here for interactive charting
Other company articles:
Rossing target for Kalahari			31/07/2008
Rossing rouses Kalahari			14/05/2008
Rossing boost for Kalahari			01/02/2008
Uranium cheer for Kalahari			23/01/2008
Kalahari upbeat on Ida Dome			19/10/2007