Uranium miner climbs on results news
In breaking news Monday, Vancouver-based Xemplar Energy Corp. (TSX: V.XE) reported chemical assay results for nineteen drill holes from the Big Yellow mineralized zones at the Warmbad Uranium project in southern Namibia.
“Xemplar’s 2009 drill program continues to meet our expectations. The chemical assay results clearly demonstrate the size potential of our mineralized zones,” said Simon Tam, the company’s CEO.
At Big Yellow West, the company says RCBYW0026 is of particular interest, as grades of 895.5 PPM U3O8 over three meters from 45 meters to 48 meters (including one meter from 45 to 46 meters at 1,824.5 PPM, or 0.182% and including one meter from 46 meters to 47 meters at 766.0 PPM or 0.08%) were encountered. For full results, see the company’s news release.
Xemplar says exploration drilling will continue with the objective of discovering new zones of mineralization and extending the size of the eight zones of mineralization that have already been discovered.
Shares of the company climbed 14% to 28.5 cents Monday.
