The MRE completed by CSA Global comprises 6.1m lbs at 237 ppm U3O8 reported at a 100 ppm U3O8 cut off grade, while the ETR for the Likuyu North area is 15-25 million lb range at 200 to 400 ppm U3O8 mineralisation.
The ETR has been compiled using all existing drill hole data, chemical assays, geophysical probing, airborne geophysical survey data and geological assessment.
The exploration program at MRE and ETR at Likuyu North is one of five prospects identified at the Mkuju Uranium project, covering 226km2, and will include field geological mapping and geochemical surveys as well as aircore and diamond drilling.
Mineralization at Mkuju is identified exclusively within sediments of the Karoo Supergroup and is adjacent to a north-easterly striking crustal scale fault, which extends northeast along the Nyota prospect of the Mkuju River Project owned by Russian company, ARMZ, and operated by TSX Listed, Uranium One.
Uranex said the MRE for the Likuyu North prospect represents a small portion of the surface radiometric anomaly tested until now by detailed drilling in 2010 and 2011.
The company will commence drill testing of an interpreted deep southern trend as well as a western and eastern trend of the MRE in May.
A selective core drilling program to depths exceeding 200m is now underway targeting potential deposits.
Uranex will initially drill select deep core holes on this southern extension of the deposit which will be followed by deep AC as soon as a rig is available, in the September quarter.
