The drilling program defined target areas will help the company during initial resource studies.

The program has to date 55 drill holes, including 49 reverse circulation and six diamond drill holes have been completed for a total of 6,480m, Uranex said.

Initial rapid drilling phase for exploration and resource purposes is underway and is expected to be completed by the end of this month using the three currently operating drill rigs.

Uranex said in a statement: "The drill samples are being prepared and analysed for resource quality and metallurgical study data including the preparation of bulk samples to supply end users.

"The objective of the current drilling phase, commenced in July, is to declare Uranex’s maiden JORC resource by November 2014."

Samples from the drilling program are being analyzed at an Australian laboratory and initial assay results are expected to be unveiled by the end of this month with remaining analysis scheduled to be completed by the end of September.