PRL Polo Res.(See LSE:POL)

 

TIDMPRL 
 
RNS Number : 5779A 
Polo Resources Limited 
12 October 2009 
 

Monday 12 October 2009 
 
 
 
Polo Resources Limited 
("Polo" or "the Company") 
 
 
Extract Resources announces a new zone of mineralisation at Rossing South 
 
 
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 21.4 million shares 
(ASX:EXT A$9.29/share*), has announced confirmation of a new zone of uranium at 
Rossing South. 
 
Highlights: 
 
 
  *  A new zone of uranium mineralisation has been discovered on the western limb of 
  the Rossing South antiform. 
  *  Zones 1 and 2 - Infill drilling continues to return high grade intersections. 
 
 
 
Significant mineralisation has been encountered in 2 adjacent RC holes drilled 
on the western side of the dome structure of Zone 2. It is interpreted to dip 
shallowly to the west. A diamond drill hole (RDD082) is being drilled to confirm 
this orientation. 
 
 
The core recovered so far shows that the banding and boundaries are at low 
angles to the core axis consistent with a shallow westerly dip; further, the 
hole has already intersected alaskite containing uranium mineralisation. 
 
 
The mineralisation discovered to date at Zones 1 and 2 lies predominantly on the 
eastern limb of the Rossing South antiform. 
 
 
Chemical assay results not previously reported from recent drilling at Rossing 
South include: 
 
 
+---------------+------------+--------------------+-------------------------+ 
|    HOLE ID    |  FROM (m)  |      To (m)        |       Mineralised zones | 
|               |            |                    |                  (U3O8) | 
+---------------+------------+--------------------+-------------------------+ 
|   New Zone    |            |                    |                         | 
+---------------+------------+--------------------+-------------------------+ 
|   R3RC0001    |    157     |        212         |      55m @ 1474ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|   R3RC0002    |    104     |        157         |     53m @ 1616 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|Other Results  |            |                    |                         | 
+---------------+------------+--------------------+-------------------------+ 
|    Zone 1     |            |                    |                         | 
+---------------+------------+--------------------+-------------------------+ 
|    RDD037     |    435     |        522         |      87m @ 978 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RDD048     |    49      |        142         |      93m @ 619 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC408     |    140     |        185         |      45m @ 995 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC433     |    139     |        186         |      47m @1130 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    Zone 2     |            |                    |                         | 
+---------------+------------+--------------------+-------------------------+ 
|    RDD048     |    348     |        361         |     13m @ 1712 ppm      | 
+---------------+------------+--------------------+-------------------------+ 
|    RRC413     |    264     |        292         |      28m @ 528ppm       | 
+---------------+------------+--------------------+-------------------------+ 
 
 
The broad zones of strong uranium mineralisation from Rossing South continues to 
increase the known size of this massive mineralised system. The expanded 
drilling programme has 10 drilling rigs currently on location, 5 diamond rigs 
and 5 RC. 
 
 
Neil Herbert, Managing Director of Polo Resources, said: 
 
 
"Infill drilling on Zone 1 continues as Extract seeks to progress the resource 
base into the measured and indicated category. We believe a total resource base 
of 500 mlbs is achievable from targets already defined. 
 
 
"Meanwhile, the Rossing South exploration programme has further extended the 
known mineralisation at the project and Extract has now confirmed the discovery 
of a new high grade zone. These results are very exciting and should add 
significant further value to the project which is already expected to become one 
of the world's largest uranium mines." 
 
 
 
 
The full details of Extract's announcement can be found at 
www.extractresources.com. 
 
 
*Share price as at 9 October 2009. 
 
 
 
 
Contacts: 
 
 
+--------------------------------------------------+------------------------+ 
| Polo Resources Limited                           |  + 27 82 404 36 37     | 
| Neil Herbert, Managing Director                  |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
| Canaccord Adams Limited                          | + 44 (0) 20 7050 6500  | 
| Mike Jones/Ryan Gaffney                          |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
| Financial Dynamics                               | + 44 (0) 20 7831 3113  | 
| Ben Brewerton / Ed Westropp                      |                        | 
|                                                  |                        | 
+--------------------------------------------------+------------------------+ 
 
 
The information contained in this announcement has been reviewed by Mr. Paul 
Ingram, CEO, Australia & Director of Polo, P.Geo, AIMM, MICA, BSc Geo. Mr. 
Ingram has sufficient experience relevant to the style of mineralisation and 
type of deposit under consideration and to the activity which he is undertaking, 
to qualify as a Qualified Person for the purposes of this announcement. 
 
 
About the Company 
Polo is an emerging energy company currently focused on acquiring and developing 
advanced stage uranium and coal projects. 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 
 
 DRLBLBDGDSGGGCC 
 

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