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Additional information
Additional Information
Market: ASX
Sector: General Mining
Epic: ASX:UNX
News: Latest news
Web Site: Uranex
Other Articles: 10-12-200930-10-200924-06-2009

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Tuesday March 16, 11:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

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Monday March 15, 11:38Calvin Klein owner buys Tommy Hilfiger for US$3 billion from Apax Partners

The New York listed shirt and neckwear company is paying €1.924 billion in cash and issuing €276 million in PVH common stock (approximately 8.7 million shares) to fund the transaction.

 

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Uranex

Uranex

Uranex is an Australian listed company with advanced uranium projects in Australia and Tanzania.

Two uranium resources have been defined in accordance with the 2004 Australian JORC Code guidelines, and further drilling is continuing on these deposits to further upgrade resources as to both quantity (tonnes) and quality (JORC Classification).

Thursday, December 10, 2009

Uranex shares up as drilling and ground survey confirm 5km uranium anomaly at Likuyu North

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Shares in Uranex (ASX: UNX) have jumped 13% after the company confirmed high grade uranium values had been received from drilling and a ground survey at Likuyu North on the wholly owned Mkuju Uranium Project in southern Tanzania.

The company was trading 3.5c, or 13.7%, higher at 29c following this morning's announcement.

The company delineated significant zones and thicknesses (up to 6m) of uranium mineralisation at the Likuyu North prospect where a detailed ground scintillometer survey has demonstrated the internal coherency of the large 5km by 1km aerial radiometric anomaly.

In addition, RC drilling to depths of 130m has further confirmed the depth extent of the mineralisation enabling interpretation of a 3D anomaly envelope that could contain significant mineralisation accumulations similar to that of Mantra’s Nyota deposit, 25km to the north.

Pitting programmes were initiated to investigate the source of the strongest ground scintillometer anomalies with over 50 widely spaced, 3m deep pits dug.

Two pits exposed visible spots of green uranium mineralisation (visually interpreted to be phosphuranylite) associated with extremely high scintillometer readings. Vertical channel samples collected from all pits have been submitted to the laboratory for assaying, and returns are awaited.

Two 300m spaced trenches were also dug to follow up these pits. High grade uranium mineralisation was intersected in trench MKTR0001 which returned 2m at 3,040 ppm U3O8 from a wider (inclined) zone of 6.3m at 1,401 ppm U3O8.

Both trenches exposed visible uranium mineralisation in thick coarse grained cross bedded arkosic sandstone units, separated by thinner siltstone and mudstone

The Likuyu North mineralisation, radiometric anomaly and host stratigraphy are similar to that at Mantra Resources’ Nyota Project.

Managing Director John Cottle said the excellent results provided very strong evidence of the high potential for discovery of significant accumulations of roll-front uranium type mineralisation in Uranex’s Mkuju exploration ground in Southern Tanzania.

"Based on the results to date and expected good results to come, exploration at the Mkuju Project is planned to be intensified for the 2010 field season with the objective of progressing towards, in-fill, and extension of current mineralisation, as quickly and efficiently as possible," Mr Cottle said.

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