Uranex
Uranex (ASX: UNX) is uranium exploration and development company with a diverse pipeline of projects in Australia and Africa.
The company holds an extensive portfolio of uranium exploration targets in the east African nation of Tanzania, including an initial resource estimate for its Manyoni Project in the Bahi Region of central Tanzania. Uranex’s exploration activities in Tanzania have resulted in the emergence of two separate uranium provinces at Bahi and Mkuju.
Uranex identifies additional 69km of uranium anomalies at Mkuju Project in Tanzania
Tuesday, March 01, 2011
Uranex's (ASX: UNX) recently completed radiometric review has identified a further 69 kilometres of uranium anomalies within its 100% owned Mkuju Uranium Project in Southern Tanzania.
The anomalies are within an additional four prospect areas to the recently drilled Likuyu North prospect, which covers only five km.
The most significant include prospects at Mteramwahi South (19km long), Mteramwahi North (17km long) and Likuyu South (18km long).
All additional uranium anomalies are interpreted to occur within sandstone hosted environment similar to Likuyu North.
The company plans drilling in 2011 at these additional prospects within the globally significant uranium district of Southern Tanzania.
The aim will be to extend the existing mineralisation along the 5km strike extent of Likuyu North, to define an initial resource at Likuyu North, and to drill test all other anomalies which cover the total strike extent of 69km.
The 5000 square km Mkuju Uranium Project adjoins Mantra Resources (ASX: MRU) Mkuju River Project where a Mineral Resource of 101.4 million pounds at 422 parts per million (ppm) uranium (U3O8) has been defined at the Nyota Prospect, located 30km NE of the Mkuju Uranium Project.
Mantra Resources is currently the subject of an A$1.16 billion all cash takeover offer which equates to US$10.26/lb of resource at Nyota.
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