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Uranex to begin 2011 drilling program at Tanzanian uranium project

EBR Staff Writer Published 25 March 2011

Uranex, an Australia-based uranium exploration company, will soon start a 6,000m drilling program at its 100% owned Mkuju uranium project, in southern Tanzania.

This 2011 drilling program, which will be supported by limited diamond drilling in the phase 2 program, aims to extend the high grade uranium mineralization and define an initial resource at the Likuyu North prospect.

Holes will be geophysically probed to generate eU3O8 values, and an induction (EM) conductivity probe will be used to assist in identification of host geological units.

Results from the 2010 drilling program encountered multiple mineralized intersections at the Likuyu North prospect with significant intersections including 10.5m @ 1,124ppm U3O8 ,13m @ 614ppm U3O8, 7.5m @ 352ppm U3O8, 2m @ 1,244ppm U3O8 and 4m @ 337 ppm U3O8.

Additionally regional anomalies were recently found within four separate prospect areas, namely Mteramwahi South (19 km), Likuyu South (18 km), Mteramwahi North (17 km) and Matemanga (10 km).

The company expects the phase 1 drilling program to be completed within eight weeks.