22nd Jan 2007 08:07
Uranium Resources PLC22 January 2007 Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration High Grade Uranium Results Enhance Tanzanian Prospectivity Highlights • The results from the November field programme at the Mtonya Projecthave significantly enhanced understanding of the target size and location of theroll front style uranium mineralisation. • The drill program planned for May/June 2007 will target the Henrianomaly at the Mtonya Project. • Further high grade uranium results obtained from trench and surfaceoutcrops. Best sample results: 2,794 ppm U3O8 (0.28%)2,641 ppm U3O8 (0.26%)1,497 ppm U3O8 (0.15%)1,473 ppm U3O8 (0.15%) These results compliment the previously announced results thatincluded selective grab samples of 6.55% U3O8 (5.56% U) and channel samples intrenches of up to 2.7% U3O8 (2.29% U). • Extension of uranium mineralisation in the Mtonya Project. • A conceptual geological model has been developed and is to be testedin the May/June drilling programme. • Grant of the 3 new joint venture licences in Tanzania covering3,744km2 and 2 pending grant for a further 6,225km2 in the uranium prospectiveKaroo Basin. Shareholders are urged to read the announcement of the company's farm-inpartner, Western Metals Ltd, at www.westernmetals.com.au which includes a numberof diagrams which the directors consider important to gain a properunderstanding of the conceptual model. Introduction The board of Uranium Resources plc ("Uranium Resources") is pleased to announcean exploration update including the assay results from samples collected duringthe November 2006 field program on the Mtonya Project in Tanzania and anincrease in the joint venture land position. The November field program included the excavation, sampling, and geologicalmapping of seven trenches. The trenching also included the extension to Trench 1that was originally excavated in August 2006. At that time, Trench 1 yieldedselective grab results of 5.56% U3O8 and channel samples of up to 0.85% U3O8.Trench 2, which is 15 metres from Trench 1, yielded channel samples of 2.29%U3O8. Radiometric surveys were also completed in November 2006 at the previouslyidentified Henri, Para and Tahbilk anomalies and reconnaissance surveys wereconducted over a five kilometre trend to the north east of Henri identifyingseveral new anomalies. The assay results from soil samples collected proximal tothese anomalies are included in this report. Henri Anomaly The trenching results and detailed radiometrics conducted over the Henri anomalyhave confirmed it as a roll front style uranium mineralisation prospect. Shareholders are urged to read the announcement of the company's farm-inpartner, Western Metals Ltd, at www.westernmetals.com.au which includes a numberof diagrams which the directors consider important to gain a properunderstanding of the conceptual model. The latest assay results in conjunction with radiometric surveys and geologicalobservation have generated a conceptual target for mineralisation. (The modelis shown in diagram 2 of the Western Metals announcement. It is cross section Ato A' on diagram 1 of the Western Metals announcement.) The results from the data locate Trench1 in the core of the roll front whichhosts the very high grade assay results seen from this trench (selective grabsamples of up to 6.55% U3O8). Trench 6 shows high uranium results (up to 0.14%U3O8) in reduced sandstone which is interpreted to be in advance of the rollfront. These results in conjunction with the radiometric results giveencouragement that the high grade roll front is located behind Trench 6 andbeneath Trench 1. Samples of reduced sandstone taken from an exposed gully face approximately 50metres south-east of Trench 6 produced results between 770 and 1,470 ppm U3O8(0.077% and 0.147% U3O8 respectively). These samples are interpreted to be froma horizon lower than Trench 6 and suggest that mineralisation could be extensivein advance of the roll front. Results from Trench 8 located a further 150 metres south-east of Trench 6 showoxidised sandstone with elevated uranium content (up to 570 ppm U3O8; 0.057%U3O8). This is interpreted to be a remnant portion of a roll front that may havebeen eroded away. The field work on Henri has provided immediate drill targets with radiometricand sampling data identifying an area of approximately 500 metres by 500 metresthat requires drilling to determine the location and nature of the high graderoll front mineralisation. Other Anomalies Trench samples collected at radiometric anomalies Para (Trenches 9 to 12) andTahbilk (Trench 13) gave maximum values of 118 ppm U3O8 (0.012%) at Para and 212ppm U3O8 (0.021%) at Tahbilk. Surface soil grab samples from these areas alsogave elevated results with peak values of 153 ppm U3O8 (0.015%) at Para and 370ppm U3O8 (0.037%) at Tahbilk. These results are well in excess of background (5ppm U3O8; 0.0005%) indicating they are highly anomalous and Western Metalsconsiders that surface trenching has not exposed the location of the roll front.Reconnaissance drilling will be required to determine the profile through theseareas. Soil grab sampling from several radiometric anomalies along the interpretedmineralised trend have given the following peak results: Grandfather 82 ppm U3O8 (0.008%)Moysten 59 ppm U3O8 (0.006%)Galway 59 ppm U3O8 (0.006%) These samples have been collected from the surface soils and are in excess ofbackground. All anomalies have surface radiometric responses in excess of 500counts per second (cps) which is approximately 10 times background. Furtherinvestigation is justified on these anomalies based on the assay andscintillometer results. Grant of Joint Venture Tenements and Further Tenement Applications The three tenements that form the joint venture with Western Metals (42.5%) andTanzanian interest (15%) announced on 23rd November 2006 have been granted bythe Tanzanian Government. This land package covers 3,774km2 of prospectiveuranium properties on the Karoo. The joint venture has also applied for two additional licences subject togovernment approval. These two licence applications cover 6,225 km2 and areexpected to be granted in the next few months. This takes Uranium Resources'uranium exploration tenement interests in Tanzania to 13,865 km2. These latesttenements all show potential for uranium mineralisation based on geology andhistoric radiometric data. The joint venture has also acquired a digital data set of the airborneradiometric surveys flown in the 1980s which will assist with initial groundreconnaissance. Evaluation of this data has provided many uranium anomalies.(These anomalies are as shown in Diagram 4 of Western Metals' announcement). An in country team is being assembled in Tanzania to undertake explorationcampaigns in 2007. Table 1 Assay Results November 2006 Field Program Sample Co-ordinates (WGS84) U3O8 Anomaly Sample LocationNumber Longitude (E) Latitude (S) ppm Type AO 100 36.5222 -10.5511 188.6 Henri Soil In gully face AO 101 36.5221 -10.5509 1497.3 Henri Soil In slope AO 102 36.5223 -10.5509 35.4 Henri Soil base of slope AO 103 36.5236 -10.5508 70.7 Henri Soil In slope AO 104 36.5235 -10.5508 153.3 Henri Soil In slope AO 105 36.5235 -10.5509 778.1 Henri Soil In gully face AO 106 36.5235 -10.5509 1473.7 Henri Soil In gully face AO 107 36.5235 -10.5509 978.6 Henri Soil In gully bottom AO 108 36.5235 -10.5509 283 Henri Soil In gully bottom AO 109 36.5243 -10.5514 23.6 Henri Channel Trench 8 AO 110 36.5243 -10.5514 23.6 Henri Channel Trench 8 AO 111 36.5243 -10.5514 23.6 Henri Channel Trench 8 AO 112 36.5243 -10.5514 70.7 Henri Channel Trench 8 AO 113 36.5243 -10.5514 530.6 Henri Channel Trench 8 AO 114 36.5243 -10.5514 377.3 Henri Channel Trench 8 AO 115 36.5243 -10.5514 565.9 Henri Channel Trench 8 AO 116 36.5243 -10.5514 82.5 Henri Channel Trench 8 AO 117 36.5243 -10.5514 59 Henri Channel Trench 8 AO 118 36.5243 -10.5514 35.4 Henri Channel Trench 8 AO 119 36.5243 -10.5514 106.1 Henri Channel Trench 8 AO 120 36.5271 -10.5541 23.6 Para Channel Trench10 AO 124 36.5276 -10.5567 11.8 Para Soil on slope AO 125 36.5273 -10.555 23.6 Para Soil on slope AO 126 36.5276 -10.5567 94.3 Para Soil on slope AO 127 36.5231 -10.5416 23.6 Tahbilk Channel Trench13 AO 128 36.5231 -10.5416 59 Tahbilk Channel Trench13 AO 129 36.5231 -10.5416 47.2 Tahbilk Channel Trench13 AO 130 36.5231 -10.5416 117.9 Tahbilk Channel Trench13 AO 151 36.5243 -10.5514 82.5 Henri Soil on slope AO 152 36.5238 -10.5413 5.9 Galway Soil on slope AO 153 36.5299 -10.532 59 Galway Soil on slope AO 154 36.5268 -10.5308 47.2 Galway Soil on slope AO 155 36.5395 -10.5343 5.9 Moysten Soil ridge top AO 156 36.5392 -10.5302 11.8 Moysten Soil ridge top AO 157 36.5392 -10.5303 5.9 Moysten Soil ridge top AO 158 36.5393 -10.5307 11.8 Moysten Soil ridge top AO 159 36.539 -10.5297 11.8 Moysten Soil deep gully AO 160 36.5417 -10.5234 5.9 Moysten Soil deep gully AO 161 36.5412 -10.5229 11.8 Moysten Soil deep gully AO 162 36.5398 -10.5244 11.8 Moysten Soil deep gully AO 163 36.5404 -10.5251 23.6 Moysten Soil ridge top AO 164 36.5231 -10.5416 94.3 Tahbilk Channel Trench13 AO 165 36.5231 -10.5416 47.2 Tahbilk Channel Trench13 AO 166 36.5231 -10.5416 212.2 Tahbilk Channel Trench13 AO 168 36.5271 -10.5541 117.9 Para Soil base of slope AO 169 36.5273 -10.555 153.3 Para Soil base of slope AO 170 36.5234 -10.55 176.9 Henri Channel Trench 7 AO 171 36.5234 -10.55 188.6 Henri Channel Trench 7 AO 172 36.5234 -10.55 94.3 Henri Channel Trench 7 AO 173 36.5234 -10.55 129.7 Henri Channel Trench 7 AO 174 36.5234 -10.55 82.5 Henri Channel Trench 7 AO 175 36.5234 -10.55 200.4 Henri Channel Trench 7 AO 176 36.5234 -10.55 106.1 Henri Channel Trench 7 AO 177 36.5234 -10.55 70.7 Henri Channel Trench 7 AO 178 36.5234 -10.55 165.1 Henri Channel Trench 7 AO 179 36.5234 -10.55 94.3 Henri Channel Trench 7 AO 180 36.5236 -10.5502 23.6 Henri Channel Trench 6 AO 181 36.5236 -10.5502 23.6 Henri Channel Trench 6 AO 182 36.5236 -10.5502 165.1 Henri Channel Trench 6 AO 183 36.5236 -10.5502 613.1 Henri Channel Trench 6 AO 184 36.5236 -10.5502 624.9 Henri Channel Trench 6 AO 185 36.5236 -10.5502 1438.4 Henri Channel Trench 6 AO 186 36.5236 -10.5502 247.6 Henri Channel Trench 6 AO 187 36.5236 -10.5502 672 Henri Channel Trench 6 AO 188 36.5236 -10.5502 660.2 Henri Channel Trench 6 AO 189 36.5236 -10.5502 754.6 Henri Channel Trench 6 AO 190 36.5236 -10.5502 1249.7 Henri Channel Trench 6 AO 191 36.5222 -10.5508 11.8 Henri Soil gentle slope AO 192 36.5225 -10.5492 1072.9 Henri Channel Trench 1 AO 193 36.5225 -10.5492 176.9 Henri Channel Trench 1 AO 194 36.5225 -10.5492 106.1 Henri Channel Trench 1 AO 195 36.5225 -10.5492 2641 Henri Channel Trench 1 AO 196 36.5225 -10.5492 70.7 Henri Channel Trench 1 AO 197 36.5225 -10.5492 59 Henri Channel Trench 1 AO 198 36.5225 -10.5492 176.9 Henri Channel Trench 1 AO 199 36.5225 -10.5492 47.2 Henri Channel Trench 1 AO 200 36.5225 -10.5492 212.2 Henri Channel Trench 1 AO 201 36.5225 -10.5492 70.7 Henri Channel Trench 1 AO 202 36.5225 -10.5492 176.9 Henri Channel Trench 1 AO 203 36.5225 -10.5492 141.5 Henri Channel Trench 1 AO 204 36.524 -10.55 117.9 Henri Soil on slope AO 205 36.5225 -10.5493 59 Henri Soil on slope AO 206 36.5225 -10.5492 47.2 Henri Channel Trench 1 AO 207 36.5225 -10.5492 23.6 Henri Channel Trench 1 AO 208 36.5225 -10.5492 59 Henri Channel Trench 1 AO 209 36.5225 -10.5492 23.6 Henri Channel Trench 1 AO 210 36.5225 -10.5492 35.4 Henri Channel Trench 1 AO 211 36.5225 -10.5492 35.4 Henri Channel Trench 1 AO 212 36.5225 -10.5492 47.2 Henri Channel Trench 1 AO 213 36.5225 -10.5492 47.2 Henri Channel Trench 1 AO 214 36.5225 -10.5492 35.4 Henri Channel Trench 1 AO 215 36.5225 -10.5492 59 Henri Channel Trench 1 AO 216 36.5225 -10.5492 47.2 Henri Channel Trench 1 AO 217 36.5225 -10.5492 82.5 Henri Channel Trench 1 AO 218 36.5225 -10.5492 70.7 Henri Channel Trench 1 AO 219 36.5225 -10.5492 59 Henri Channel Trench 1 AO 220 36.5225 -10.5492 212.2 Henri Channel Trench 1 AO 221 36.5225 -10.5492 1261.5 Henri Channel Trench 1 AO 222 36.5225 -10.5492 789.9 Henri Channel Trench 1 AO 223 36.5225 -10.5492 990.4 Henri Channel Trench 1 AO 224 36.5225 -10.5492 82.5 Henri Channel Trench 1 AO 225 36.5225 -10.5492 2794.2 Henri Channel Trench 1 AO 226 36.5282 -10.5559 11.8 Para Channel Trench 9 AO 227 36.5282 -10.5559 23.6 Para Channel Trench 9 AO 228 36.5282 -10.5559 11.8 Para Channel Trench 9 AO 229 36.5282 -10.5559 23.6 Para Channel Trench 9 AO 230 36.5282 -10.5559 23.6 Para Channel Trench 9 AO 231 36.5282 -10.5559 23.6 Para Channel Trench 9 AO 232 36.5282 -10.5559 11.8 Para Channel Trench 9 AO 233 36.5282 -10.5559 11.8 Para Channel Trench 9 AO 234 36.5273 -10.555 11.8 Para Channel Trench11 AO 235 36.5273 -10.555 11.8 Para Channel Trench11 AO 236 36.5273 -10.555 23.6 Para Channel Trench11 AO 237 36.5273 -10.555 23.6 Para Channel Trench11 AO 238 36.5273 -10.555 11.8 Para Channel Trench11 AO 239 36.5273 -10.555 23.6 Para Channel Trench11 AO 240 36.5273 -10.555 23.6 Para Channel Trench11 AO 241 36.5273 -10.555 11.8 Para Channel Trench11 AO 242 36.5273 -10.555 23.6 Para Channel Trench11 AO 243 36.5273 -10.555 11.8 Para Channel Trench11 AO265 36.5271 -10.5541 23.6 Para Channel Trench10 AO266 36.5271 -10.5541 23.6 Para Channel Trench10 AO267 36.5276 -10.5567 82.5 Para Channel Trench12 AO268 36.5276 -10.5567 82.5 Para Channel Trench12 AO269 36.5276 -10.5567 70.7 Para Channel Trench12 AO270 36.5276 -10.5567 70.7 Para Channel Trench12 AO271 36.5276 -10.5567 23.6 Para Channel Trench12 AO272 36.5276 -10.5567 47.2 Para Channel Trench12 AO273 36.5276 -10.5567 47.2 Para Channel Trench12 AO274 36.5276 -10.5567 23.6 Para Channel Trench12 AO275 36.5276 -10.5567 23.6 Para Channel Trench12 AO276 36.5237 -10.5406 11.8 Tahbilk Soil on slope AO277 36.5231 -10.5416 70.7 Tahbilk Channel Trench13 AO278 36.5231 -10.5416 70.7 Tahbilk Channel Trench13 AO281 36.5271 -10.5541 47.2 Para Channel Trench10 AO282 36.5271 -10.5541 117.9 Para Channel Trench10 AO283 36.5271 -10.5541 82.5 Para Channel Trench10 AO284 36.5271 -10.5541 23.6 Para Channel Trench10 AO285 36.5433 -10.5397 23.6 Moysten Soil ridge top AO286 36.5432 -10.5397 11.8 Moysten Soil ridge top AO287 36.544 -10.5384 47.2 Moysten Soil ridge top AO288 36.544 -10.5385 11.8 Moysten Soil ridge top AO289 36.5438 -10.5388 59 Moysten Soil ridge top AO290 36.5581 -10.5131 23.6 Grandfather Soil ridge top AO291 36.5585 -10.5073 11.8 Grandfather Soil Slope AO292 36.5585 -10.5074 82.5 Grandfather Soil Slope AO293 36.5584 -10.5074 11.8 Grandfather Soil Slope AO294 36.556 -10.5099 11.8 Grandfather Soil ridge top AO295 36.5557 -10.5095 23.6 Grandfather Soil ridge top AO296 36.5554 -10.5093 35.4 Grandfather Soil ridge top Notes on Table 1: Samples have been analysed by ICP using laboratory method ME-ICP61s by ALSChemex laboratory Perth Australia. Certified reference standards and blanks havebeen included by Western Metals in addition to laboratory control standards. All results are in U3O8 ppm uranium with analysis method accuracy quoted at + 10ppm U3O8. Co-ordinates are WGS84 and have been measured by hand held GPS. The information in this report that relates to Exploration Results, MineralResources or Ore Reserves is based on information compiled by Dr JosephDrake-Brockman who is a Member of The Australasian Institute of Mining andMetallurgy. Dr Drake-Brockman is employed by Drake-Brockman Geoinfo Pty Ltd. DrDrake-Brockman has sufficient experience which is relevant to the style ofmineralisation and type of deposit under consideration and to the activity whichhe is undertaking to qualify as a Competent Person as defined in the 2004Edition of the 'Australasian Code for Reporting of Exploration Results, MineralResources and Ore Reserves', and a Qualified Person as defined in the March 2006Edition of the AIM Guidance Note for Mining, Oil and Gas Companies. DrDrake-Brockman consents to the inclusion in the report of the matters based onhis information in the form and context in which it appears. For further information please see: www.uraniumresources.co.uk or contact: James Pratt Uranium Resources plc Tel: +61 412 743 382Ross Warner Uranium Resources plc Tel: 07760 487 769Hugh Warner Uranium Resources plc Tel: +618 9217 3350Hugh Oram Nabarro Wells & Co. Limited Tel: 020 7710 7400Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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