LONDON (ShareCast) - Zambezi Resources rallied today after the explorer said it has identified a high grade uranium mineral within its Oryx prospect in Zambia.

Independent consultants have indicated that the uranium content of a sample of Davidite, a mineral with a uranium content of between 5 and 10%, collected at the prospect is 6.4% uranium.

The radiometric uranium anomaly extends at least 6 kilometres southwest to northeast and 1.5 kilometres at its widest.

Zambezi has identified a number of other uranium radiometric anomalies within its licence area, although these are smaller than the Oryx prospect.

It has also been granted energy mineral rights over the entire 17,333 km2 of its prospecting licences in Zambia.

To date, the company has flown helicopter-borne radiometrics over approximately 10% of its tenement area.

Managing director Julian Ford said, “Results from the Oryx uranium prospect indicate the potential for the occurrence of high grade uranium mineralisation over a large prospect area.”

“Exploration at Oryx during 2006 will be able to take full advantage of the geological knowledge, infrastructure, equipment and personnel established by Zambezi over the last two years to progress our existing copper-gold projects.”

“We look forward to pursuing exploration at Oryx and at our core copper/gold projects during the 2006 field season,” he added.

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