Uranium Resources Plc Regulatory News (URA)

6 Dec 2006 08:06

Uranium Resources PLC06 December 2006 Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration Uranium Resources plc ('Uranium Resources' or 'the Company') Tanzanian Uranium Project Update HIGHLIGHTS - Increased size and strike length of Henri Anomaly - 6 further anomalies identified at Henri - 3 additional anomalies identified at Mtonya Project - Numerous drill targets now identified at Mtonya - More high grade uranium results from trench sampling - Best trench results from channel samples • 22,950 ppm (2.29%)U* • 20,820 ppm (2.08%) U* * For conversion to U3O8 the uranium ppm values should be multiplied by 1.18. INTRODUCTION Uranium Resources plc is pleased to advise that the November exploration fieldprogram on the Mtonya Uranium Prospect in Tanzania has been successfullycompleted. The Company also advises that it has received the final assay results of fieldwork conducted during the August field program in the area. The work was undertaken by the Company's farm-in partner, Western Metals Ltd(ASX:WMT; www.westernmetals.com.au). NOVEMBER FIELD PROGRAM The field program was completed successfully on 2 December 2006 with a further 7trenches excavated and sampled, bringing the total number of trenches at Mtonyato 13, as well as radiometric surveys completed in detail at Henri. Radiometricsurveys were also completed at the previously identified Para and Tabilkanomalies. Further a field, reconnaissance surveys were conducted over a 5 km trend to thenorth east of Henri, identifying several new anomalies at Galway, Moysten andGrandfather. Exploration activities undertaken were: • Excavating, sampling and geological mapping of a further 7 trenches at the Henri, Para and Tabilk anomalies; • Detailed radiometric surveys over the Henri anomaly area including extensions to the north and south; • Increased radiometric survey coverage over the Para and Tabilk anomalies; and • Reconnaissance radiometric surveys over a further strike extent of 5 kilometres to the north east of Henri. Uranium Resources director James Pratt said, "The data collected by DrDrake-Brockman on the recent field trip further enhances the Company's beliefthat the Mtonya system has the potential to host a significant ore body andprovides the Company with further immediate drill targets for our planneddrilling program in June 2007 post the upcoming wet season.". The Henri detailed radiometric survey has provided greater definition over theknown anomaly and identified a further six >200 cps anomalies within 250 metresof the Henri discovery anomaly. The surveys of the Para and Tabilk anomalies have increased the extents of theanomalies with trenching completed on these areas to determine the distributionof uranium near surface. The reconnaissance radiometric surveys have identified several anomalies to thenorth of Henri over a 5 km strike length. Results for these anomalies exceeded500 cps at surface with some areas exceeding 1000 cps. These results providetargets for further detailed work to determine further drill targets. The radiometric data in conjunction with the known assay values indicate manydrill targets exist in the work area tested to date. For diagrams of the anomalies, refer to Western Metals announcement on their website at www.westernmetals.com.au. FUTURE WORK AT MTONYA The next phase of exploration to be undertaken at Mtonya will follow the end ofthe wet season in April/May 2007. Activities to be conducted include: • Drilling program over identified anomalies; and • Airborne radiometric survey over tenement area. AUGUST 2006 FIELD WORK FINAL RESULTS All results from the August field program have now been received. Initialresults from the August field work were reported on 21 November and this reportfinalises all the results from that exploration program. Trenching work conducted at Mtonya in August included excavating, sampling andmapping 5 trenches at the Henri anomaly area and collecting surface samples fromsites of elevated radiometric response. Trench 6 was excavated during August butnot sampled. This work has now been completed in the November field program withresults pending. Trenches were dug to a depth of 1 to 1.5 metres. Channel samples and selectivegrab samples were collected and the trenches were geologically mapped. Channelsamples were collected at 1 to 2 metre intervals along the length of thetrenches. Sample lengths were based on geological boundaries and collectedperpendicular to the generally sub-horizontal dip of the host geology. Trench 1 and Trench 2 at the Henri anomaly showed visible yellow secondaryuranium mineralisation. Photographs of the project including the visible uraniummineralisation are available shortly on the Western Metals web pagewww.westernmetals.com.au. The assays received from the trenches showed high grade uranium was present inTrench 1 and Trench 2 with lower results from Trenches 3, 4 and 5. The resultsfrom Trenches 4 and 5 are interpreted to be from beneath the redox boundaryfront. The assays remain elevated indicating they are within the mineralizedsystem. Trench 1 and Trench 2 show continuous zones of uranium mineralisation. Ofsignificance is that both trenches remain strongly mineralized at the easternand western extremities and in the bases of each trench indicating that themineralisation is more extensive than these exposures. Samples were also collected from the surface or shallow trenches (