Date: Thursday 20 Oct 2011
LONDON (ShareCast) - Sampling at Uranium Resources’ 15-hole diamond drilling programme at its Mtonya project in southern Tanzania has been received well by the markets, as shares jumped higher on Thursday afternoon.
Analysis of seven of the holes has already been completed, with three confirming the company's exploration model and the occurrence of multiple uranium roll-fronts.
Managing director of the firm, Alex Gostevskikh, said: "By confirming mineralised roll-fronts at depth, we have achieved one of the most important milestones in our exploration at Mtonya.”
"Deep-seated sandstone-hosted targets, such as in Kazakhstan, present significant exploration challenges but also yield world-class deposits amenable to in-situ recovery - the most economically effective and environmentally benign method of uranium extraction,” he said
The company expects the completion of the 2011 drilling programme to lead to resource-definition drilling at Mtonya.
The share price rose 12.5% to 2.25p by 13:11.
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|% Change||0.00 %|
|52 Week High||2.63|
|52 Week Low||0.68|
|No dividends found|
|Time||Volume / Share Price|
|11:44||124,843 @ 0.80p|
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