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Uranium Resources Inc.

Publié le 01 mars 2011

Uranium Resources - Mtonya Drilling Results

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Mtonya Drilling Results

 

Uranium Resources plc, the AIM listed uranium exploration and development company, is pleased to announce the final assay results from its 2010 drilling programme at the Mtonya Project, Songea, Tanzania.

 

The data obtained during the 2010 drilling programme confirmed the Company?s expectations and demonstrated that conditions favourable for roll-front uranium mineralization exist well below the already known horizons.  Of particular note are holes 1, 2, 8, 9, 10 and 11 which intersected beds of permeable arkose sandstone and extensive zones of reduction and pervasive oxidation down to depths of 400 m. The lithological composition of the host rock units, porosity, location and extent of the oxidized zones indicate ideal geological settings for multiple mineralized roll-fronts. The scale and intensity of the observed redox processes is particularly encouraging as they are considered adequate for producing significant uranium deposits.  Roll-front uranium deposits form in flat-lying, permeable clastic sediments at the interface of advancing oxidizing groundwater and reducing conditions. The intensity of oxidation and its spatial extent are indicative of the duration of these processes and volume of the sedimentary rock that has been altered and depleted of uranium and associated elements.

 

The 2010 programme was designed, after extensive and thorough data collation and analysis, to verify the Company?s geological and structural model and generate targets with both near-surface and deep mineralization.  The programme comprised 11 vertical diamond drill holes in two phases totalling 4,170 m and targeted the areas with known uraniferous mineralization as well as new zones.   The eleven holes, 300m to 500 m deep and 500m to 4,000 m apart, were positioned in 3 intersecting fences covering a large area 8 kilometres long and 4 kilometres wide.

 

The ongoing in-depth interpretation of geological and geochemical results of the 2010 programme will significantly narrow the search radius and generate defined drill targets for the 2011 programme. To compress the timeframe and minimize exploration risks, the Company is utilizing sophisticated geological and geochemical modelling to process the 2010 data.  Since acquiring control of the Tanzanian projects, the Company has developed a complex, proprietary geological model by using remote sensing, geophysical, field mapping, and structural interpretation data.  This model is continuously enhanced and updated within the areas with previously known mineralization, the drilling produced contiguous intercepts with significant U3O8 grades in holes 1, 9, 10, and 11.  Details of these are given in the table below.

                                                                                                

Table 1. 2011 Mtonya Drilling Results (composited intercepts, 100 ppm cutoff)

 

Drill Hole

Longitude

Latitude

From, m

To, m

Width, m

U3O8 ppm

URAMT 01

36.52

-10.56

76.60

79.60

3..00

122

92.60

96.60

4..00

215

Including 731 ppm U3O8 at 93.6-94.6 m

URAMT 09

36.54

-10.54

20.00

26.00

6..00

157

URAMT 10

36.52

-10.55

15.60

18.10

2..50

144

46.70

54.60

7..90

141

Including 436 ppm U3O8 at 50.6-52.0 m

66.60

69.40

2..80

163

Including 425 ppm U3O8 at 67.6-68.4 m

74.30

75.80

1..50

106

URAMT 11

36.47

-10.55

7..00

11.00

4..00

239

Including 460 ppm U3O8 at 10.0-11.0 m

14.00

16.00

2..00

142

29.00

34.00

5..00

118

 

 

The 2010 drilling programme has provided the Company with important data which is particularly noteworthy because of the 1) extensive lateral coverage, 2) far-reaching depths, 3) large-diameter core, and 4) geochemical assays (33 elements) on all of core.  The drill core was thoroughly logged and systematically photographed before and after splitting and sampling. Certified standards and duplicate samples were inserted into the sample stream. Transportation of samples to ALS Chemex?s Mwanza laboratory was done by an independent party.

 

Competent Persons declaration

 

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information assessed by Alex Gostevskikh 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?. 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

Hugh Warner

Uranium Resources plc

Tel: +61 (0) 413 621 652

Samantha Harrison

Ambrian Partners Ltd (Nomad)

Tel: +44 (0) 20 7634 4700

Ben Wright

Ambrian Partners Ltd (Nomad)

Tel: +44 (0) 20 7634 4700

Jeremy King

Optiva Securities Ltd

Tel +44 (0)20 3137 1904

Jason Robertson

Optiva Securities Ltd

Tel +44 (0)20 3137 1906

Hugo de Salis

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 1177

Felicity Edwards

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 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 Basin in Southern Tanzania.  

 

Uranium Resources Inc.

PRODUCTEUR
CODE : URRE
ISIN : US9169016063
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Uranium Res. est une société de production minière d'uranium basée aux Etats-Unis D'Amerique.

Uranium Res. détient divers projets d'exploration en Australie.

Ses principaux projets en production sont KINGSVILLE DOME et ROSITA en USA, son principal projet en développement est ROCA HONDA en USA et ses principaux projets en exploration sont VASQUEZ, MOSSER, MARSHALL, WEST LARGO, SOUTH TEXAS LEASE et CROWPOINT en USA et MTONYA, CHURCHROCK / MANCOS et NOSE ROCK en Australie.

Uranium Res. est cotée au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 189,9 millions US$ (169,7 millions €).

La valeur de son action a atteint son plus haut niveau récent le 27 avril 2007 à 9,99 US$, et son plus bas niveau récent le 05 avril 2019 à 0,13 US$.

Uranium Res. possède 27 929 584 actions en circulation.

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