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.