The resources estimate, based on previously drilled 159 diamond drill holes over 38,591m, was at 255 ppm uranium containing 2 million pounds.
It consisted of tier 1 mineralization over 4.5km of the 36km-long Mtonya Redox Corridor, which includes the unexplored Nyoka and Lukimwa uranium targets.
Estimates at a range of cutoff grades confirm that there is a substantial and very robust component to the resource base, for increasing the cut-off grade from 50ppm to 100ppm uranium reduces the uranium pounds contained by 5%, the company advised.
Uranium Resources managing director Alex Gostevskikh said that the maiden mineral resource at the project is encouraging and the company is specifically pleased with robust continuity of the mineralized strata and preliminary mineralogy analyses on core samples.
"This initial Mineral Resource estimate at Mtonya is major milestone and it signifies several crucial things: the potential of the Luwegu basin for ISR uranium mineralization, the ability of our team to generate credible exploration models and, most importantly, to bring these models to life," added Gostevskikh.
Currently, Uranium Resources is outlining plans to conduct infill and step-out drilling programs to expand the Mtonya resource and to execute a series of pump tests on Mtonya mineralization.
