Commences Drilling at Mtonya Uranium Project (3460X)

TIDMURA

RNS Number : 3460X

Uranium Resources PLC

14 February 2012

Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration

14 February 2012

Uranium Resources plc ('URA' or 'the Company')

Commences Drilling at Mtonya Uranium Project

Uranium Resources plc, the AIM-listed uranium exploration company, announces the commencement of its 2012 drilling campaign at its 100%-owned Mtonya Project in southern Tanzania.

As previously set out in the Company's announcement of 12 December 2011, URA has identified three tiers of reduction-alteration at Mtonya. The Company's 2012 programme is designed to comprise 20,000 metres of open-hole and diamond-core drilling and pursue the following objectives:

   --     further test the roll-fronts identified in tier 2 at depths of 240-260 metres; 
   --     identify and establish geometries for roll-fronts in tier 1 at depths of 170-200 metres; and 
   --     test for uranium mineralisation in tier 3 at depths of 300-320 metres.

Drilling is currently underway by a single rig, with further rigs to be deployed during the course of the campaign. The 2012 programme will be executed by several drill rigs simultaneously with part of the fleet to target tight-spaced drilling with a view of establishing a maiden resource estimate while the other rigs will be extending the already known roll-fronts laterally.

The 2011 drilling and results of the recent mineralogical studies suggest similarities with the well-known sandstone-hosted roll-front uranium deposits of Kazakhstan and the USA.

Alex Gostevskikh, Managing Director, said: "We are delighted to launch the 2012 drilling programme so early in the year. 2012 will be a very important year for our Company as we advance from our conceptual model and uranium discovery through to defining a maiden resource. Our drill targeting is based on a comprehensive interpretation of geochemical, mineralogical, and radiometric data and we hope we can significantly shorten the exploration cycle for our project."

**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 
 Anthony Rowland    Ambrian Partners Ltd (Nomad)   Tel: +44 (0) 20 7634 
                                                    4700 
 Jeremy King /      Optiva Securities Ltd          Tel: +44 (0) 20 3137 
                                                    1904 
 Jason Robertson 
 Hugo de Salis      St Brides Media & Finance      Tel: +44 (0) 20 7236 
  /                  Ltd                            1177 
 Felicity Edwards

Notes

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 is advancing its uranium assets in the highly prospective Luwegu Basin, Southern Tanzania where it is exploring for roll-front deposits amenable to in-situ recovery.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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