BANNERMAN RESOURCES LIMITED - ASX: BMN

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Description

Bannerman Resources Limited is an emerging uranium development company with interests in uranium exploration and development properties in Namibia and Botswana, southern Africa. Our principal and most significant asset is an 80 per cent interest in the Etango Project, located near the western coast of Namibia, southern Africa.

Bannerman offers investors access to a uranium project of extraordinary scale. The Etango Project is one of the world's largest undeveloped uranium deposits, boasting a total resource of 212 million pounds (76,700 tonnes) of uranium oxide (U3O8). We are focussed on the feasibility study assessment and development of a 5-7 million pounds (U3O8) per annum open-pit mining operation at Etango.

Bannerman also has extensive landholdings in prime uranium exploration areas.

Etango

Resource Reported at Lower Cut-off of 100 ppm U3O8:

Measured: 62.7mt @ 205ppm for 28.3Mlbs of metal (U3O8)
Indicated 273.5mt @ 200ppm for 120.4Mlbs of metal (U3O8)
Inferred: 164.6mt @ 176ppm for 63.9Mlbs of metal (U3O8)

Swakop River

The Swakop River Project area is located in the Erongo region of central coastal Namibia, approximately 67 kilometres east of the town of Swakopmund. The Swakop River mineral licence, EPL 3346, surrounds Paladin Energy Limited’s Langer-Heinrich uranium mine on three sides. The Langer-Heinrich licence area contains an extensive palaeochannel with carnotite mineralisation in calcrete and channel sediments. Limited exploration drilling has been completed within the Swakop River Project area.

Botswana

Bannerman Resources controls three prospecting licences for uranium, precious metals, base metals and platinum group minerals in Botswana. These licences are referred to as the Serule South, Serule North and Dukwe licences and are located in the Foley and Sua Pan regions in Botswana (131/2005 to 133/2005). The tenements total approximately 2300 square kilometres. The results of the initial aerial survey ad reconnaisance drilling are under review and drilling programs for 2010 are being prepared.

Mine For

uranium

Location of operation(s)

Botswana, Namibia

Address

Se 18, Level 1, 531 Hay St
SUBIACO, WA, AUSTRALIA

Phone

(08) 9381 1436

Email

Website

http://www.bannermanresources.com.au/

Last Updated

19/04/2011