London, England — MININGREVIEW.COM — January 18, 2008 – Uranium Resources Plc (URA) – an AIM-listed uranium development company established to acquire and advance a portfolio of assets in Tanzania – has put an aggressive exploration programme in place to develop and further progress its uranium properties in the east African country in 2008.
A progress report released by the company here today reveals that it has discovered two new uranium prospects at its Tanzanian properties, and has received further positive drilling results from previously intersected uranium mineralisation at its flagship Mtonya Project, which now has identified sub-surface uranium over a strike length of 4km.
Commenting on these latest developments, URA director James Pratt says: “These two new discoveries – in conjunction with the continuing positive drill results from our flagship Mtonya project – act as a further endorsement of the exciting potential of our Tanzanian portfolio to host a significant uranium deposit.”
The regional helicopter-supported field reconnaissance programme conducted in November 2007 has resulted in the discovery of two new important mineralised systems – Foxy and Eland – in the 50:50 owned Ruvuma project area (formerly South Selous). These prospects are located approximately 60km south-east and 110 km south-west of Mtonya respectively.
Results from the third reverse circulation drilling programme at Mtonya have delivered further significant intercepts and extended the area of subsurface uranium mineralisation.
The joint venture (between Western Metals and Uranium Resources) has now planned an aggressive expansion and development programme for its Tanzanian uranium properties during the course of 2008. The budget is expected to be in the order of US$4 million (R28 million).
The planned programme will include reverse circulation drilling, airborne radio-metric, ground- based geological, geo-physical and geo-chemical surveys.