Uranium Resources Plc Share News (URA)

LONDON (Dow Jones)--Uranium Resources PLC (URA.LN), an AIM listed uranium exploration and development company, said Monday that it has commenced drilling on its Mtonya prospect in Tanzania. MAIN FACTS: -The Mtonya Prospect is located in the Selous Basin, Southern Tanzania, a known uraniferous district which has yielded the Nyota Deposit for Mantra Resources Ltd as well as numerous other uranium occurrences. -The two-phase drilling programme will comprise 3,000 million in two drill fences. -The programme design is based on a comprehensive analysis of regional geophysical and geological data and the results of previous drilling on the property. -In Phase 1, totalling some 1,500 meters, the company intends to drill three deep diamond core holes to extend already known mineralization and test new prospective areas. -It is expected that Phase 1 will be completed between late July and early August. -The design of Phase 2 will be finalized after completion and analysis of Phase 1 results. -The Company, however, intends that Phase 2, a further 1,500 meters of diamond core drilling, will be carried out between August and October. Shares closed Friday at 1.63 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; razak.baba@dowjones.com (END) Dow Jones Newswires June 14, 2010 02:31 ET (06:31 GMT)