Uranium Resources Plc Share News (URA)

LONDON (Dow Jones)--Uranium Resources PLC (URA.LN), a uranium exploration and development company, said Monday that Hole 1 of its Phase 1 drilling program at the Mtonya Prospect in Tanzania has been completed. MAIN FACTS: -Hole 1 was drilled to a depth of 501 meters producing PQ and HQ diameters sized cores; After splitting, core samples are dispatched to the ALS Chemex laboratory in Mwanza, Tanzania, for further sample-preparation and assaying. -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 program, which is currently underway, comprises 3,000 meters in two drill fences. -Phase 1 consists of some 1,500 meters of diamond drilling in areas with known uranium mineralization as well as in new prospective areas; The company expects to commence drilling Hole 2 shortly. -The design of Phase 2 will be finalized after completion and analysis of Phase 1 results; The company intends that Phase 2, a further 1,500 meters of diamond core drilling, will be carried out between August and October 2010. -Shares at 0936 GMT up 0.13 pence or 7.14%, at 1.9 pence, valuing the company at GBP7.6 million. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires July 12, 2010 05:42 ET (09:42 GMT)