Update Mtonya Uranium Project Tanzania (5488A)
April 02 2012 - 2:01AM
UK Regulatory
TIDMURA
RNS Number : 5488A
Uranium Resources PLC
02 April 2012
Uranium Resources plc / Market: AIM / Epic: URA / Sector:
Exploration
2 April 2012
Uranium Resources plc ('Uranium Resources' or 'the Company')
Update on Exploration Programme at Mtonya Uranium Project
Tanzania
Uranium Resources plc, the AIM listed uranium exploration
company is pleased to provide an update on its ongoing drilling
programme at its 100%-owned Mtonya project in southwest
Tanzania.
The 2012 exploration programme has been designed on the basis of
a significantly enhanced redox interface model. The new drill data
are continuously assessed and integrated into the model to improve
the accuracy of drill targeting.
To date, four diamond drillholes have been completed to a total
of 1,360 m. Two drillholes reported significant intercepts as
follows:
Hole Longitude Latitude From To Length eU3O8
--------- --------
DH 187 36.52 -10.55 303.5 m 305.2 m 1.7 m 308 ppm
including 304.0 m 304.6 m 0.6 m 630 ppm
--------- -------- ------- ------- ------ -------
DH 189 36.52 -10.55 4.0 m 10.0 m 6.0 m 101 ppm
------------- --------- -------- ------- ------- ------ -------
and 37.6 m 38.9 m 1.3 m 102 ppm
------------- --------- -------- ------- ------- ------ -------
and 245.2 m 247.2 m 2.0 m 141 ppm
------------- --------- -------- ------- ------- ------ -------
and 310.3 m 314.6 m 4.3 m 153 ppm
------------- --------- -------- ------- ------- ------ -------
Only intercepts above 100 Grade Thickness are shown. Grade
thickness (GT) is the product of the grade and true thickness of
intercepted mineralisation.
An important outcome from the drilling of the last 4 holes is
that all of them encountered uranium mineralisation, with 3 holes
intersecting grades over the 100ppm eU3O8. All four holes
intercepted stacked uranium channels. These four holes are set in a
fence-like pattern, 50-150 m apart. All drillholes at Mtonya are
vertical. Holes DH 187 and DH 189 intercepted a previously unknown
mineralized feature below at depths over 300 m.
Uranium Resources Managing Director Alex Gostevskikh said,
"These initial drillholes from our 2012 programme continue to
confirm the presence of stacked roll-fronts at depth. All four
holes intercepted strata with elevated uranium values both near
surface and at depth. They take us one step further in defining the
geometry of the Mtonya roll-fronts and mark a great beginning of
the 2012 programme."
About Mtonya
The company's 100%-owned Mtonya project is situated about 60 km
south of Nyota, a significant uranium deposit currently developed
by Uranium One.
Mtonya is interpreted to be a classic sandstone-hosted
roll-front deposit with remarkable similarities to the deposits of
Chu-Sarysu, Kazakhstan and Wyoming, USA.
To date, Mtonya has demonstrated continuous uranium
mineralisation in stacked roll-fronts in Triassic arkoses, which is
expected to be amenable to in-situ recovery.
The Company's ongoing exploration programme is expected to
generate sufficient data to delineate a maiden resource at
Mtonya.
Assaying and QA/QC
The Company is using a Mount Sopris' Matrix gamma-logging system
to ensure proper instrument calibration and establish the framework
for disequilibrium adjustments. The disequilibrium factor (DEF) is
used to adjust the grade obtained from measurements by a gamma-ray
probe (eU3O8) and to provide rapid estimates for the uranium
content in the rock.
In addition to gamma-ray downhole surveys, Uranium Resources plc
uses the most reliable methods of quantifying uranium
mineralisation by sampling half-core and subjecting the samples to
the ME-MS41 and ME-ICP61 analytical methods at the ALS laboratory
in Vancouver, BC, Canada.
In accordance with industry standards, the assayed samples
include certified standards and duplicates. Analytical results are
routinely subjected to statistical review.
Competent Person's Declaration
The information in this statement that relates to Exploration
Results, Mineral Resources or Ore Reserves is based on information
reviewed by Alex Gostevskikh, Managing Director of Uranium
Resources plc, who is a Member of the Mining and Metallurgical
Society of America. Mr. Gostevskikh has sufficient experience which
is relevant to the style of mineralisation and type of deposit
under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2004 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves' and as a qualified person under the AIM
Note for Mining, Oil and Gas Companies. Mr. Gostevskikh consents to
the inclusion in the report of the matters based on his information
in the form and context in which it appears.
**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
-------------------------- -------------------------
Samantha Harrison Ambrian Partners Ltd Tel: +44 (0) 20 7634
(Nomad) 4700
-------------------------- -------------------------
Jason Robertson Optiva Securities Ltd Tel: +44 (0) 20 3137
1904
-------------------------- -------------------------
Hugo de Salis / Felicity St Brides Media & Finance Tel: +44 (0) 20 7236
Edwards Ltd 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 Basins in Southern Tanzania.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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