5th Apr 2011 07:00
Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration
5 April 2011
Uranium Resources plc ('Uranium Resources') or ('the Company')
2011 Exploration Update
Uranium Resources plc, the AIM listed uranium exploration company, is pleased to announce an exploration update for its prospective Tanzanian uranium portfolio, including the commencement of the 2011 drilling programme at the Mtonya Project in May.
The drilling programme for Mtonya has been designed after extensive analysis of the results from the 2010 campaign and will cover areas with known surface mineralisation, as well as testing the areas with strong blind mineralisation potential.
The Mtonya programme will comprise 21 holes to a total of 6,850m ranging in depth between 300m and 350m and covering an area 2km by 4km. This programme will target the most favourable strata for roll front mineralisation identified in the course of the 2010 drilling, with its objective being to:
1. intercept the mineralised roll-front and determine the extent and tenor of uraniferous mineralisation; and
2. test the mineralised beds along strike and establish the geometry of mineralisation.
As the Company review and analyse the results of the 2010 drilling programme at Mtonya, it will continue to confirm its geological model and original interpretation. The interpretation of geochemical and mineralogical data has demonstrated material similarities between Mtonya and other basins with significant roll-front deposits.
As part of the pipeline building strategy, the Company will execute a field reconnaissance programme at Mtonya South West, an area with pronounced radiometric anomalies similar in tenor and geometry to anomalism at Mtonya. Mtonya SW also has very similar geological and structural features to Mtonya. This study will apply a congruent geological model and generate drill targets for a scouting drill programme later in the 2011 drilling season. The drilling at Mtonya SW is expected to comprise five diamond drillholes which will be in addition to the 21 holes at Mtonya.
Additionally, the Company is planning a brief prospecting programme at its Eland project area with the objective of determining its rare earth elements potential and the merits of drill testing.
The Company continues assembling and collating comprehensive data packages for other targets within its extensive land holdings in Tanzania. The Board view this as essential to expanding its project pipeline.
**ENDS**
For further information please visit www.uraniumresources.co.uk or contact:
Alex Gostevskikh | Uranium Resources plc | Tel: +255 (0) 752 968 062 |
Ross Warner | Uranium Resources plc | Tel: +44 (0) 7760 487769 |
Hugh Warner | Uranium Resources plc | Tel: +61 (0) 413 621 652 |
Samantha Harrison | Ambrian Partners Ltd (Nomad) | Tel: +44 (0) 20 7634 4700 |
Ben Wright | Ambrian Partners Ltd (Nomad) | Tel: +44 (0) 20 7634 4700 |
Jeremy King | Optiva Securities Ltd | Tel +44 (0)20 3137 1904 |
Jason Robertson | Optiva Securities Ltd | Tel +44 (0)20 3137 1906 |
Hugo de Salis | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Felicity Edwards | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
About Uranium Resources
Uranium Resources plc is an AIM listed exploration and development company. It is the Company's strategy to advance its existing assets and strengthen its portfolio via opportunistic acquisition. Uranium Resources has uranium licences in the highly prospective Karoo Basin in Southern Tanzania.
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