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DOME PROPERTY
Calcrete Hosted Uranium
Mineralization
In early 2009, a zone of calcrete
hosted uranium mineralization was discovered on the northern
portion of the Dome property. Grab samples from this zone contain 196 to 1,620 ppm uranium (0.02 - 0.19%
U3O8). A ground electromagnetic
survey was completed over the area and several conductivity anomalies
thought to represent buried paleochannels (Figures 3 and 4) were
observed. A first phase reverse circulation drilling program totaling 734
meters in 37 holes was completed in September 2009.
The drilling confirmed the presence of widespread calcrete and
local paleochannels. Significant radioactivity was observed in down hole gamma
probe results in two drill holes, with the best geochemical
result being 352 ppm U3O8 over 1.0 meter in DN09-23, 7
meters beneath the surface (Figure 5). A program of additional detailed
electromagnetic geophysical surveying in November 2009 identified potential paleochannels associated with the mineralization in DN09-23.
Reconnaissance EM surveying north of this area also located additional conductivity highs that
were thought to be calcrete bearing paleochannels (Figure 5).
A second phase of reverse
circulation drilling was completed in August 2010 with 10
holes testing for extensions of the mineralization observed in
DN09-23 (Figure 6) and 8 holes testing the northern
conductivity anomalies. The mineralization in the area
of DN09-23 has been named the Marble Ridge Zone. Six of
the 10 holes completed at the Marble Ridge zone intersected
elevated radioactivity in calcrete. Figure 7 is a
cross-section showing the continuity and shallow depth of the
mineralized layer. The location of the cross-section is
displayed in Figure 6. The location of all drill holes, including those drilled in February 2011, is shown in Figure 8.
Further drilling is planned to determine the extent of the
Marble Ridge zone and test the airborne anomalies.
Drilling at the northern conductivity anomalies confirmed the
presence of thick zones of calcrete within the surfical
materials beneath the gravel plains. However, no
elevated radioactivity was observed.
In February 2011, a program of reverse circulation drilling was completed at the Marble Ridge zone on the Dome property. Down hole gamma probe results indicate 11 of the 28 holes completed have intersected elevated radioactivity within calcrete at depths between 4 and 15 m below surface.
Leucogranite Hosted Uranium
Mineralization
Uranium bearing sheeted
leucogranite (commonly referred to as alaskite) was first
discovered at Dome North in December 2010 during a
reconnaissance mapping program. Follow up detailed
geological mapping confirmed the presence of a large area of
outcropping and subcropping leucogranite, with grab samples
returning up to 0.61% U3O8. The
leucogranites intrude Damaran schists, marbles and quartzites
that mark the contact between the Nosib and Swakop groups
(Figure 9). This horizon marks the location where most
mineralized leucogranites are found within the Erongo region (ie: Rössing, Rössing
South, Etango, etc.).
A first phase program of reverse
circulation drilling was completed in August 2010 in
conjunction with the calcrete drilling program described
above. Thirteen drill holes were completed in the 6
kilometer by 2 kilometer leucogranite target area.
Eleven of these intersected leucogranite. Two of the
holes, DN10-67 at the south end of the target area and DN10-74
at the north end, intersected particularly thick sections of leucogranite that included sporadic intervals of elevated
radioactivity. DN10-67 intersected a total of 47 meters
of leucogranite, of which approximately 5 meters is
characterized by radioactivity greater than 5 times background
(Radeye hand-held scintillometer). DN10-74 intersected
98.5 meters of leucogranite, of which approximately 3 meters
is characterized by radioactivity greater than five times
background. Geochemical analyses are underway to confirm
that the radioactivity is due to uranium. Figure 10
shows the location of the drill holes.
KAOKO PROPERTY
Work at Kaoko has included
geological mapping, ground geophysical surveying
(electromagnetic) and radon emanometry (RadonX). Some
prospective targets have been identified, particularly in
areas of radon anomalies that are coincident with carbonaceous
sediments. The next phase of work at Kaoko will likely
involve shallow reverse circulation drilling to determine the
source of the radon. 
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Pitchstone has earned a 71% interest
in two properties from Manica Minerals Ltd. through Manica's
wholly-owned subsidiary Cheetah Minerals Exploration Ltd.
The two properties, Kaoko
and Dome, total approximately 300,000 ha (Figure 1).
Targets at Dome include granite hosted mineralization similar
to the large Rössing uranium deposit
and calcrete hosted mineralization similar to the nearby
Langer Heinrich deposit.
The Rössing and Langer Heinrich
mines are currently the only uranium producers in Namibia.
Figure 2 shows the location of the Dome property relative to
the producing mines and development projects in west central
Namibia. The target on the Kaoko property is sediment
hosted (Karoo) uranium.
