Uranex Plans to Release Maiden JORC Resource for Nachu by November

Uranex Ltd. (ASX:UNX) announced initial 2014 graphite assays from its Tanzania-based Nachu graphite project, commenting that it is on track to release its maiden JORC resource by November 2014.

Highlights include:

• Initial assay results received from Blocks B, D, F & J 
• High grade graphite intercepts on multiple blocks including 
  •  29m @ 8.1% Cg from 0m, including 3m @ 17.8% Cg (NARC080) 
  •  30m @ 9.7% Cg from 38m, including 9m @ 15.9% Cg from 53m (NARC074)
  •  27m @ 8.7% Cg from 9m, including 6m @ 18.3% Cg (NARC057)
  •  21m @ 9.5% Cg from 137m, including 8m @ 11.3% (NARC063)
  •  18m @ 9.9% Cg from 7m, including 9m @ 15.6% Cg from 9m (NARC081)
• Over 14,100 metres drilled so far in 2014
• More assays expected in the coming weeks
• Maiden JORC Resource on track for November 2014
• 2014 Core drill samples arrive for metallurgical test work

Dr. Frank Houllis, CEO of Uranex, commented:

Today’s assays show Nachu is a world class project. Our project has proven its distinct advantage of having a high percentage of graphite flakes in the medium to jumbo categories. Recently in China it was repeatedly highlighted to us that there is a chronic shortage of large graphite flakes. With simple metallurgy we are able to produce a high grade marketable product.

With the exciting assays announced today we are taking all necessary steps to fast track our project into production.

Click here to read the full Uranex Ltd. (ASX:UNX) press release.