Uranium Resources Plc Regulatory News (URA)

31 Oct 2006 11:23

Uranium Resources PLC31 October 2006 Uranium Resources plc / Market: AIM / Epic: URA / Sector: Exploration Uranium Resources plc Exploration Update Highlights of Henri anomaly uranium exploration • trenching and ground mapping have indicated three sub-horizontal anomalous layers each separated by approximately 8 vertical metres of sediments. • this style of mineralisation is considered typical of roll front uranium deposits. • 100 samples were collected and submitted for analysis and results will be published on receipt. • ground radiometric surveys identified several anomalous areas of radioactivity over an interpreted strike length of 2 kilometres and a width at surface ranging from 100 to 300 metres. Background Uranium Resources plc, the AIM listed uranium exploration and developmentcompany, is pleased to offer the following exploration update in respect of theHenri anomaly which is located in the Mtonya project area of southern Tanzania.The work has been conducted by our farm-in partner, Western Metals Limited (ASX:WMT; www.westernmetals.com.au). Field checking of an airborne radiometric anomaly, as previously announced, gavea peak surface spot assay of 980ppm U3O8. A field crew spent two weeks in thearea during August 2006 conducting ground based radiometric surveys, trenchdigging and sampling, geological mapping and surface sampling. The ground radiometric surveys identified several anomalous areas ofradioactivity over an interpreted strike length of 2 kilometres and a width atsurface ranging from 100 to 300 metres. Exploration results Trenching was conducted on several of the anomalous areas with five trenches dugto approximately 1.5 metres depth. The trenches were extensively sampled.Surface samples were also collected from shallow sample pits over the anomalouszones. A total of 100 samples were collected and submitted for analysis. The 100samples are currently being analysed and results will be published on receipt. Airborne radiometric anomalies occur along strike to the south west and northeast over a further 5 kilometres (i.e. a total of 7 kilometres). The fullextent of the anomaly remains to be determined. The interpretation of the radiometric data indicates the existence of threesub-horizontal anomalous layers each separated by approximately 8 verticalmetres of sediments. Drilling will be required for further evaluation at depth. This style of mineralisation is considered typical of roll front uraniumdeposits. Further exploration A further field program is planned for November and December with the aim ofextending the detailed ground based radiometric evaluation of the trend,particularly to the north east, and continuing to conduct trenching and samplingover anomalies. Qualified Person's Declaration The information in this report that relates to Exploration Results, MineralResources or Ore Reserves is based on information compiled by Dr JosephDrake-Brockman who is a Member of The Australasian Institute of Mining andMetallurgy. Dr Drake-Brockman is employed by Drake-Brockman Geoinfo Pty Ltd. DrDrake-Brockman has sufficient experience which is relevant to the style ofmineralisation and type of deposit under consideration and to the activity whichhe is undertaking to qualify as a Competent Person as defined in the 2004Edition of the 'Australasian Code for Reporting of Exploration Results, MineralResources and Ore Reserves', and a Qualified Person as defined in the March 2006Edition of the AIM Guidance Note for Mining, Oil and Gas Companies. DrDrake-Brockman consents to the inclusion in the report of the matters based onhis information in the form and context in which it appears. **ENDS** Contacts: James Pratt Uranium Resources plc Tel: 07747 832 043 Ross Warner Uranium Resources plc Tel: 07760 487 769 Hugh Oram Nabarro Wells & Co. Limited Tel: 020 7710 7400 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange