Extract Resources Ltd. (EXT.AU) said Monday it has recorded promising assay results that could support the expansion of its Rossing South uranium prospect in Namibia to three zones from the current two.

Chemical assay results confirmed a strong mineralization 1.2 kilometers south of the current Zone 2 resource area, Extract said.

Abundant high grade results continue to be returned from Zone 1 and Zone 2, it said.

"The rapid growth of Zones 1 and 2 is now being complimented by the potential of a third zone of mineralization along the same Rossing South trend," outgoing Extract Managing Director Peter McIntyre said in a statement.

"The potential of the entire 15 kilometer trend is enormous, with some degree of mineralization being encountered on every line drilled to date."

Extract shares rose 50 cents to A$10.00 by 0141 GMT after touching a new record high of A$10.20 in early trade. The company's market capitalization is A$2.29 billion.

By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; ross.kelly@dowjones.com
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