RNS Number:5744T
Uranium Resources PLC
01 May 2008
Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration
1 May 2008
Uranium Resources plc ("Uranium Resources" or "the Company")
Quarterly Activity Report Released By JV Partner Western Metals Ltd
Uranium Resources plc, the AIM quoted uranium exploration and development
company operating in Southern Africa, is pleased to provide a quarterly update
released by its joint venture partner, Western Metals Ltd ('WMT'), on activities
underway at its uranium projects in the prospective Karoo Basin in Southern
Tanzania, where it currently has a land package in excess of 13,500 sq km.
Highlights
* Reverse Circulation ('RC') drilling scheduled to commence mid-May,
initially aimed at evaluating the Grandfather prospect at Mtonya - previous
trenching of airborne ground radiometric surveys and surface grab sampling
returned significant results (4.64% U3O8, 0.02% U3O8)
* RC drilling campaigns are also scheduled to evaluate the recently defined
Foxy and Eland prospects
* 2008 exploration programme at Mtonya, Ruhuhu and Ruvuma project areas
includes airborne and ground geophysics, geological mapping, geochemical
sampling, costeaning to generate new drill targets for 2009
* Continues to form strong relationships with the local communities,
non-government and government organisations
Field work and preparation for 2008 programme
Planning and preparations for the 2008 exploration programme has progressed
well, with all major contractors and consultants signed up. Drilling is expected
to commence mid-May and a high-resolution airborne radiometric survey is
scheduled to start in late May.
Field work continued during the March quarter with field trips in February,
March and April. Work focused on re-establishing access into the Mtonya Corridor
prospects after the monsoonal rains and also on establishing access to the
Grandfather, Foxy, Eland, Ngaka, Pedro and Mad Fish Prospects. Work completed
during the quarter included trenching and sampling at prospects within the
Mtonya Corridor, ground scintillometers surveys at Eland, rock chip sampling and
mapping at Eland, geophysical re-logging of holes previously drilled into the
Mtonya Corridor prospects, hydro-geochemical base line and orientation studies
in the Mtonya Corridor area and DGPS surveys at various prospects. Results of
geochemical sampling will be available during the June quarter.
Collation and interpretation of geophysical, geological and geochemical data
continues and significant progress has been made with respect to correlations
between holes and sections and to the possible geometry and controls on
mineralisation.
Community relations
The community relations programme continues to engage all stake holders and form
strong relationships with the local communities, non-government and government
organisations.
Negotiations with hunting licence owners have been successful and work
programmes for 2008 have been endorsed. Mr George Bauk and Mr Moshin Adballah of
Game Frontiers Ltd, local and neighbouring village residents, village leaders,
district and regional government officials and representatives of the
Mbarang'andu wildlife community met in Mchomoro in Southern Tanzania in January.
The visit was a huge success and the community expressed support for joint
venture activities in the area. The joint venture partners and Game Frontiers
committed significant financial support to the community specifically to -
support 250 orphans with schooling for one year, provide four high school
scholarships to private schools and assistance to complete the district office
building.
Exploration programme for 2008
An aggressive regional and prospect specific exploration effort consisting of
airborne and ground geophysics, geological mapping, geochemical sampling,
costeaning and RC drilling is planned for 2008. A dualistic approach to
exploration will be adopted. The 2008 programme will continue to build on the
successes of the 2007 exploration effort, focusing on evaluation of existing
targets and will also aim to generate new targets that will feed the project "
pipeline" and will deliver drill targets for 2009.
Mtonya Project Area - The focus of exploration during 2008 will be RC evaluation
of prospects along the Mtonya corridor and in particular the Grandfather, Rufus,
Para extension and Mad Fish. This includes 8,500m of RC drilling. Work will
include geological mapping, costeaning, ground geochemical and geophysical
surveys, RC drilling and rehabilitation. The discovery of the Eland anomaly/
prospect in "basement" is considered to upgrade the prospectivity of both the
Likuyu and Main blocks. Further work will be done to evaluate "basement areas"
for similar styles of mineralisation.
RC drilling, scheduled to commence in mid-May, will initially be aimed at
evaluating the Grandfather prospect where previous trenching of airborne ground
radiometric surveys and surface grab sampling (4.64% U3O8, 0.02% U3O8) returned
significant results from a series of 5 trenches excavated over a strike of 1.4
kilometres. Visual uranium mineralisation was identified in several trenches
with:
* T25 giving a peak interval of 1.2 metres at 7,723ppm U3O8, including
0.4 metres at 2.13% U3O8;
* T27 giving a peak interval of 4,773 ppm U3O8 and 1.2 metres at
2,393ppm U3O8; and
* T28 giving a peak interval of 1.2 metres at 746ppm U3O8.
Ruhuhu Project Area - The focus of exploration during 2008 will be RC evaluation
of regional potential and existing prospects in particular the Pedro anomaly and
other airborne radiometric anomalies not yet assessed. This includes 1,000m of
RC drilling to drill test the Pedro anomalies and environs. Work will include
helicopter supported reconnaissance, geological mapping, costeaning, ground
geochemical, geophysical surveys, RC drilling and rehabilitation.
Ruvuma Project Area - The focus of exploration during 2008 will be regional
reconnaissance with a view to defining targets for follow-up in 2009 as well as
a ground geophysical work, sampling and RC drilling campaigns to evaluate the
recently defined Foxy and Eland prospects. This includes 3,000m of drilling.
Work will include a helicopter supported reconnaissance, an airborne radiometric
survey, geological mapping, costeaning, ground geochemical, geophysical surveys,
RC drilling and rehabilitation.
Glossary
Costeaning: excavation of trenches to facilitate systematic sampling of the
subsurface rock profile
Ground scintillometers surveys: hand and car-borne systematic surveys of the
variation in various types of radiation emitted from rocks and soil using a
scintillometer
DGPS surveys: differential global positioning system used to locate drillholes,
costeans etc to a high degree of accuracy
**ENDS**
For further information please visit www.uraniumresources.co.uk or contact:
James Pratt Uranium Resources plc Tel: +61 412 743 382
Ross Warner Uranium Resources plc Tel: 07760 487 769
Hugh Warner Uranium Resources plc Tel: +618 9217 3350
Hugh Oram Nabarro Wells & Co Ltd Tel: 020 7634 4705
Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7236 1177
Felicity Edwards St Brides Media & Finance Ltd Tel: 020 7236 1177
Notes to editors
Uranium Resources plc is an AIM listed uranium exploration and development
company focused in Southern Africa. The Company has primarily concentrated on
expanding and developing its portfolio of uranium licences in the highly
prospective Karoo Basin in Southern Tanzania where it currently has a land
package in excess of 13,500 sq km.
This information is provided by RNS
The company news service from the London Stock Exchange
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