Uranium developer Extract Resources Ltd. (EXT.AU) on Monday updated the market with positive exploration results from its flagship Rossing South project in Namibia, located close to Rio Tinto's Rossing mine.

All zones of uranium mineralization remain open at depth and along strike, in at least one direction, with infill resource definition drilling returning high grade intercepts.

Extract's shares rose on the news, and at 0400 GMT were up 5.0% at A$8.70.

"The quality of the original discovery continues to be confirmed, and if anything, gets better. We are conscious of the need to expand our regional exploration program. Rossing South as defined for our feasibility study represents just a fraction of the prospective area," said Extract Resources Chairman Steve Galloway.

-By Elisabeth Behrmann, Dow Jones Newswires;

61-2-8272-4689 elisabeth.behrmann@dowjones.com
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