Rossing South Exploration Update


 

TIDMPRL 
 
RNS Number : 3004Y 
Polo Resources Limited 
01 September 2009 
 

1 September 2009 
 
Polo Resources Limited 
("Polo" or "the Company") 
 
 
Extract Resources provides Rossing South Exploration Update - Zone 3 Emerging 
 
 
Polo Resources (PRL), the AIM listed mining company with uranium and coal 
interests in Africa, Australia, Europe and Asia, is pleased to report that 
Extract Resources Limited ('Extract'), in which Polo holds a 9.06% interest, has 
announced confirmation of additional zones of uranium at Rossing South. 
 
Highlights: 
  *  Zone 3 - Chemical assay results confirm strong uranium mineralisation, 1.2km 
  south of the current Zone 2 resource area. 
 
 
 
  *  Strongly anomalous hand held spectrometer results, 2.5km southwest of the 
  current Zone 2 resource area. 
 
 
 
  *  Eight holes completed so far at the Salem prospect, 10km south of Rossing South. 
  All have returned numerous mineralised intercepts. 
 
 
 
Chemical assay results not previously reported from recent drilling at Rossing 
South include: 
+---------------+------------+--------------------+-------------------------+ 
|    HOLE ID    |  FROM (m)  |      To (m)        |       Mineralised zones | 
|               |            |                    |                  (U3O8) | 
+---------------+------------+--------------------+-------------------------+ 
|    Zone 1     |            |                    |                         | 
+---------------+------------+--------------------+-------------------------+ 
|    RDD030     |    84      |        164         |      80m @ 838 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RDD041     |    254     |        299         |     45m @ 1045 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RDD049     |    235     |        271         |      36m @ 821 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RDD396     |    188     |        278         |      90m @ 796 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    Zone 2     |            |                    |                         | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC388     |    263     |        283         |     20m @ 1420 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC389     |    335     |        380         |      45m @ 781 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC342     |    241     |        285         |     44m @ 1251 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC374     |    175     |        264         |      89m @940 ppm       | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC379     |    151     |        207         |     56m @ 1079 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC382     |    128     |        203         |     75m @ 1445 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC385     |    169     |        184         |     15m @ 2079 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC387     |    135     |        165         |      30m @ 911 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    Zone 3     |            |                    |                         | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC414     |    294     |        366         |      72m @ 676 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|  Including    |    294     |        325         |      31m @ 589 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
 
 
Neil Herbert, Managing Director of Polo Resources, said, 
 
 
"The rapid growth of Zones 1 and 2 is now being complimented by the potential of 
a third zone of mineralisation along the same Rossing South trend. Extract's 
management has consistently under-promised and over-delivered and we expect 
rapid development of the Rossing South Project which has the potential to become 
one of the world's largest operating uranium mines." 
 
 
 
 
 
 
 
 
The full details of Extract's announcement can be found at 
www.extractresources.com. 
 
 
 
 
Contacts: 
 
 
+--------------------------------------------------+------------------------+ 
| Polo Resources Limited                           |  + 27 82 404 36 37     | 
| Neil Herbert, Executive Deputy Chairman          |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
| Canaccord Adams Limited                          | + 44 (0) 20 7050 6500  | 
| Mike Jones/Ryan Gaffney                          |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
| Financial Dynamics                               | + 44 (0) 20 7831 3113  | 
| Ben Brewerton / Ed Westropp                      |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
 
 
Mr. Douglas Christopherson is the responsible Qualified Person, for the 
preparation of the technical information in this announcement.  Mr. 
Christopherson is founding Registered Member (Member Number 558900RM) of the 
Society for Mining, Metallurgy and Exploration Inc. (SME) and a member of The 
South African Institute of Mining and Metallurgy (SAIMM). 
About the Company 
Polo is an emerging energy company focused on acquiring and developing advanced 
stage uranium and coal properties. For complete details on Polo Resources 
Limited, management encourages investors and interested parties to view its 
public documents filed on AIM Exchange at www.poloresources.com. 
 
 
CAUTIONARY STATEMENT 
The AIM Market of London Stock Exchange plc does not accept responsibility for 
the adequacy or accuracy of this release. No stock exchange, securities 
commission or other regulatory authority has approved or disapproved the 
information contained herein. All statements, other than statements of 
historical fact, in this news release are forward-looking statements that 
involve various risks and uncertainties, including, without limitation, 
statements regarding potential values, the future plans and objectives of Polo 
Resources Limited. There can be no assurance that such statements will prove to 
be accurate, achievable or recognizable in the near term.  Actual results and 
future events could differ materially from those anticipated in such statements. 
These and all subsequent written and oral forward-looking statements are based 
on the estimates and opinions of management on the dates they are made and are 
expressly qualified in their entirety by this notice. Polo Resources Limited 
assumes no obligation to update forward-looking statements should circumstances 
or management's estimates or opinions change. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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