Mtonya Uranium Update Tanzania (6296F)
June 19 2012 - 2:00AM
UK Regulatory
TIDMURA
RNS Number : 6296F
Uranium Resources PLC
19 June 2012
Uranium Resources plc / Market: AIM / Epic: URA / Sector:
Exploration
19 June 2012
Uranium Resources plc ('Uranium Resources' or 'the Company')
Provides Update for its Mtonya Exploration Programme
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.
Highlights
-- Further encouraging intercepts have been obtained in the
Company's ongoing wide-spaced scouting drilling at Mtonya,
continuing to confirm uranium mineralisation in Tier 1
roll-fronts;
-- Four holes have intercepted high-grade mineralisation in Tier
1 roll-fronts, at depths of less than 220 m below surface
-- The latest significant intercepts include:
- 446 ppm eU3O8 over 1.2 m at 142.7 m in Hole 081 (Tier 1 mineralisation);
- 901 ppm eU3O8 over 1.0 m at 144.9 m in Hole 081 (Tier 1 mineralisation);
- 980 ppm eU3O8 over 0.9 m at 157.0 m in Hole 090 (Tier 1 mineralisation);
- 463 ppm eU3O8 over 0.9 m at 129.7 m in Hole 092 (Tier 1 mineralisation);
- 829 ppm U3O8 over 1.0 m at 75.5 m in Hole 181 (Tier 1 mineralisation);
- 670 ppm U3O8 over 1.0 m at 168.5 m in Hole 013 (Tier 1 mineralisation).
Uranium Resources Managing Director Alex Gostevskikh said, "The
wide-spaced 20,000m drilling programme at Mtonya is progressing
well. It is ahead of schedule, under budget and advancing us
towards an area on which to focus our resource definition drilling.
The new results in Tier 1 include two areas approximately 3 km
apart, separated by an area that has not been tested by drilling
and remains open to the south and the north. I look forward to
updating the market with our further progress in due course."
Update
The Company continues to generate encouraging results from its
planned 2012 20,000m drilling exploration programme at Mtonya. To
date, 40 wide-spaced diamond drillholes have been completed to a
total of approximately 10,400m. Three drill rigs are operating at
the property with a fourth rig commencing in mid-August, slightly
later than planned due to an increase in manufacturing
lead-time.
The Tier 1 drilling continues to generate encouraging results in
the roll-fronts that were discovered earlier in the season. These
roll-fronts occur at depths of less than 220m. Shallower holes and,
consequently, faster drilling generate a large volume of new data
which are continuously assessed and integrated into our models to
improve the accuracy of drill targeting. The drilling has targeted
both deep mineralisation amenable to in-situ recovery and
near-surface mineralisation amenable to conventional mining.
The Company continues using both full sampling and assaying as
well as downhole gamma-logging to ensure the reliability and
accuracy of drilling data. It is noted that the initial
gamma-logging in its current interpretation may significantly
underreport uranium grades.
Table 1. Significant intercepts
Hole Longitude Latitude From To Length eU3O8
-------------- --------- -------- ------- ------- ------ --------
DH 181 (1) 36.523 -10.544 74.5 m 77.5 m 3.0 m 409 ppm*
including 75.5 m 76.5 m 1.0 m 829 ppm*
-------------- --------- -------- ------- ------- ------ --------
DH 013 (1) 36.528 -10.528 165.7 m 169.5 m 2.0 m 380 ppm*
-------------- --------- -------- ------- ------- ------ --------
Including 168.5 m 169.5 m 1.0 m 670 ppm*
-------------- --------- -------- ------- ------- ------ --------
DH 059 (1) 36.523 -10.549 310.0 m 311.0 m 1.0 m 279 ppm*
-------------- --------- -------- ------- ------- ------ --------
DH 019 36.515 -10.548 164.6 m 165.6 m 1.0 m 116 ppm
-------------- --------- -------- ------- ------- ------ --------
DH 081 36.528 -10.526 136.4 m 137.3 m 0.9 m 149 ppm
-------------- --------- -------- ------- ------- ------ --------
and 140.2 m 142.1 m 1.9 m 238 ppm
-------------- --------- -------- ------- ------- ------ --------
and 142.7 m 143.9 m 1.2 m 446 ppm
-------------- --------- -------- ------- ------- ------ --------
and 144.4 m 146.8 m 2.4 m 434 ppm
-------------- --------- -------- ------- ------- ------ --------
including 144.9 m 145.9 m 1.0 m 901 ppm
-------------- --------- -------- ------- ------- ------ --------
DH 082 36.526 -10.531 138.5 m 142.8 m 4.3 m 102 ppm
-------------- --------- -------- ------- ------- ------ --------
and 144.9 m 147.2 m 2.3 m 164 ppm
-------------- --------- -------- ------- ------- ------ --------
DH 090 36.526 -10.530 122.3 m 124.8 m 2.5 m 141 ppm
-------------- --------- -------- ------- ------- ------ --------
and 150.8 m 152.0 m 1.2 m 104 ppm
-------------- --------- -------- ------- ------- ------ --------
and 154.3 m 158.2 m 3.9 m 339 ppm
-------------- --------- -------- ------- ------- ------ --------
including 157.0 m 157.9 m 0.9 m 980 ppm
-------------- --------- -------- ------- ------- ------ --------
DH 092 36.525 -10.531 129.0 m 131.7 m 2.7 m 265 ppm
-------------- --------- -------- ------- ------- ------ --------
including 129.7 m 130.6 m 0.9 m 463 ppm
-------------- --------- -------- ------- ------- ------ --------
DH 083 36.527 -10.531 0 m 2.2 m 2.2 m 126 ppm
-------------- --------- -------- ------- ------- ------ --------
Notes to table:
(1) Figures updates for assay results from previously reported gamma-log data.
* Assays based on core samples analysed by ALS Global (Vancouver).
Only intercepts above 100 Grade Thickness are shown. Grade
Thickness is the product of the grade and true thickness of
intercepted mineralisation.
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 analysis at the ALS Global 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 RFC Ambrian Ltd (Nomad) Tel: +44 (0) 20 7634 4700
Jason Robertson Optiva Securities Ltd Tel: +44 (0) 20 3137 1904
Hugo de Salis / St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
Felicity Edwards
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
MSCKMGMVVRFGZZM
Uranium (LSE:URA)
Historical Stock Chart
From Oct 2024 to Nov 2024
Uranium (LSE:URA)
Historical Stock Chart
From Nov 2023 to Nov 2024
