News
RNS Announcements
Acquisition of New Uranium Exploration Joint Venture Tenement in Tanzania
10 May 2007
The Board of Uranium Resources plc, the AIM listed uranium exploration and development company focused in Southern Tanzania, is pleased to announce the acquisition of a further prospecting licence in Tanzania to add to the Company's existing interests in that country.
The reconnaissance prospecting licence PLR 3467/2005 in the south west of Tanzania covers rocks of the middle to upper Karoo sequence of the Ngaka Sub-basin in the Ruhuhu Basin. This sequence includes layered sequences of mudrocks and fluvial sandstones suitable for hosting sandstone host style uranium deposits.
Previous work by Uranerzberbau GmbH ('UEB') in the early 1980's located a 129 ppm U3O8 anomaly within a sandstone/ siltstone outcrop within the tenement. No further work has been conducted on this anomaly. Several untested airborne radiometric anomalies identified from historic geosurvey data also exist within the area.
The ownership structure of this arrangement is:
| Uranium Resources | 45% |
| Western Metals Limited | 45% |
| Tanzanian Partners | 10% (free carry through to feasibility study) |
Western Metals Limited is the project manager of all the exploration activities in Tanzania under the joint venture agreement.
The acquisition of PLR 3467/2005 takes the total licence holding under farm-in and joint venture management to approximately 7,500 square kilometres with a further 6,514 square kilometres under application.
For further information please visit www.uraniumresources.co.uk or contact:
| Ross Warner | Uranium Resources | plc | Tel: | 07760 487 769 | |
| James Pratt | Uranium Resources | Plc | Tel | 07747 832 043 | |
| Hugh Warner | Uranium Resources | Plc | Tel | +618 9388 3006 | |
| Hugh Oram | Nabarro Wells & Co. Limited | Tel | 020 7710 7400 | ||
| Hugo de Salis | St Brides Media & | Finance | Ltd | Tel | 020 7242 4477 |
| Felicity Edwards | St Brides Media & | Finance | Ltd | Tel | 020 7242 4477 |