The Mtonya group of tenements covers about 625sqkm of Karoo sediments with numerous
contrast radiometric anomalies that have been confirmed by surface traverses, trenching and
drilling.
The two-phase drilling program, which is currently underway, comprises approximately 3,000mt
in two drill fences. The program design is based on an analysis of regional geophysical and
geological data and the results of previous drilling on the property.
Phase 1 consists
of some 1,500mt of diamond drilling in areas with known uranium mineralization as well as in
new prospective areas. The company expects to commence drilling Hole 2 shortly.
The design of Phase 2 will be finalized after completion and analysis of Phase 1 results.
The company intends that Phase 2, a further 1,500mt of diamond core drilling, will be
carried out between August and October 2010.
Hole 1 was drilled to a depth of 501mt
producing PQ and HQ size core. After splitting, core samples are dispatched to the ALS Chemex
laboratory in Mwanza, Tanzania for further sample-preparation and assaying. The Company expects
to receive the analytical and assay results in due course.
Alex Gostevskikh, managing
director of Uranium Resources, said: “We are very happy that our drilling program is
progressing as intended and we look forward to receiving the first assay results.
“Undoubtedly, these initial results shall be the first serious test of our interpretation
of the property’s geology as well as our ideas on uranium mineralization, although we view this
first hole’s primary objective as helping us confirm the geological interpretation based on
exhaustive data compilations on a regional and prospect scale.”
