2nd Jul 2008 07:30
Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration
2nd July 2008
Uranium Resources plc ("Uranium Resources" or "the Company")
Farm-in partner earns further interest in Tanzanian uranium project
Uranium Resources plc, the AIM quoted uranium exploration and development company operating in Southern Africa, announces that Western Metals Limited ("WMT") has advised the Company that it has increased its interest in the Tanzanian farm-in and joint venture assets on the Mtonya, Ruhuhu and Ruvuma licence areas ("Tanzanian Farm In Areas") to 60% by spending a further A$2 million. This brings WMT's total expenditure on the Tanzanian Farm In Areas to A$4 million since May 2006, which completes the farm-in phase. URA Uranium Resources and WMT will now develop the Tanzanian Farm In Areas in joint venture.
WMT has also announced that other activities completed during the June quarter include:
Completion of a high-resolution airborne radiometric survey - Ruvuma Project area
Commencement of ground based reconnaissance work in the Ruvuma Project area -including detailed mapping, ground geophysical and geochemical surveys of the recently discovered Eland prospect
Drilling is also currently underway in Tanzania and results will be released in due course.
**ENDS**
For further information please visit www.uraniumresources.co.uk or contact:
|
James Pratt |
Uranium Resources plc |
Tel: 07747 832 043 |
|
Hugh Warner |
Uranium Resources plc |
Tel: +33 643 916 003 |
|
Hugh Oram |
Nabarro Wells & Co. Limited |
Tel: 020 7634 4705 |
|
Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
|
Felicity Edwards |
St Brides Media & Finance Ltd |
Tel: 020 7236 1177 |
Notes to editors
Uranium Resources plc is an AIM listed uranium exploration and development company focused in Southern Africa. The Company has primarily concentrated on expanding and developing its portfolio of uranium licences in the highly prospective Karoo Basin in Southern Tanzania where it currently has a land package in excess of 13,500 sq km.
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