Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

2011 Exploration Update

5th Apr 2011 07:00

RNS Number : 2809E
Uranium Resources PLC
05 April 2011
 



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.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLIIMFTMBTMBAB

Related Shares:

Uranium Resources Plc
FTSE 100 Latest
Value8,275.66
Change0.00