Proactiveinvestors recommends

Syrah Resources intersects 288m of graphite at Balama, brings forward target date for maiden Resource
Kentor Gold impresses with 53.5m at 1.08% copper at Jervois in the Northern Territory
Zeta Petroleum aims to rapidly commercialise advanced Romanian gas assets

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	UNX
Latest Price:	0.14 (3.70% )
52-week High:	0.49
52-week Low:	0.14
Market Cap:	29.61M

1 year chart

1 day chart

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 encouraged by drilling results at Manyoni uranium resource in Tanzania

Tuesday, March 23, 2010

Uranex (ASX: UNX) have announced that recent assays returned from the 2009 drilling campaign continue to confirm the continuity of the Manyoni resource.

In addition, the company said modelling of geology and assays continues to demonstrate extension of mineralisation beyond the current limits of the resource model extents.

Geological interpretation and modelling of new drillhole information continues to advance the understanding of the Manyoni mineralisation within the various Playa Deposits, or Mbugas.

The high grade schrockingerite mineralised clay zone is approximately 1 km long by up to 300 m wide, in, and overlying a broader 3 km by up to 5 km wide carnotite saprolite mineralised zone.

Uranex said the high grade nature of the shallow schrockingerite mineralisation makes it ideal for ‘Starter Pit’ status and will contribute to strong early project cash flows.

To date approximately 50% of assays have been received with the remaining 50% of sample assays expected by late April 2010.

As for the assay results from the high grade schrockingerite zone, these selected intercepts and grades along with the other returned saprolite grades continue to confirm the resource continuity in the existing model, and also extend the mineralised zone to the north and west of the current model extents.

Geological modelling of data from the 2009 drilling and pitting programmes at Playas A, C West, E, F and G has commenced, and indicates the potential for extension of mineralisation beyond current resource boundaries (at Playas A and E) and in areas without existing JORC Inferred Mineral Resources (Playas C West, F and G).

The 2009 drilling results to date are most encouraging and provide the Company with continuing confidence in its Manyoni development strategy and ongoing Pre-Feasibility Study.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.