The company has updated that the drill intercepts confirm continuity of uranium mineralisation in Tier 1 roll-fronts at depths between 120m and 220m and the demonstrated extent of the Tier 1 redox interface has three continuous, overlapping roll-fronts.
It has also completed drilling 70 wide wide-spaced diamond drillholes totaling approximately 16,500m over Tier 1 and has found 20 drillholes intersected uranium mineralisation and 16 drillholes encountered grades over 100 ppm U3O8.
The project is being developed by Uranium One and is believed to have significant uranium deposits and is interpreted to be a classic sandstone-hosted roll-front deposit with remarkable similarities to the deposits of Wyoming, USA and Chu-Sarysu, Kazakhstan.
The significant uranium intercepts from latest drillholes include 992 ppm U3O8 over 1.0 m from 145.3 m in Hole 081; 1,869 ppm U3O8 over 0.8 m from 157.8 m in Hole 090; and 841 ppm eU3O8 over 1.3 m from 174.1 m in Hole 097.
It also has intercepted 650 ppm eU3O8 over 1.8 m from 68.0 m in Hole 208; 447 ppm eU3O8 over 1.0 m from 30.7 m in Hole 207; and 335 ppm eU3O8 over 1.8 m from 142.2 m in Hole 095.
The other significant uranium intercepts are 361 ppm eU3O8 over 1.3 m from 103.2 m in Hole 099; 275 ppm eU3O8 over 3.7 m from 127.3 m in Hole 110; and 310 ppm eU3O8 over 3.2 m from 54.0 m in Hole 203.
Mtonya has demonstrated continuous uranium mineralization in stacked roll-fronts in Triassic arkoses, which is expected to be amenable to in-situ recovery.
Uranium Resources Managing Director Alex Gostevskikh said, "The recent results further validate our exploration model for Mtonya where we are exploring for a significant sandstone-hosted deposit amenable to in-situ recovery."
