Uranium Resources, Inc. Begins Drilling at Its Los Finados Project

Uranium Resources, Inc. (NASDAQ:URRE)  reports that it began exploratory drilling on the 54,847 acres in Kenedy County, Texas.

The press release is quoted as saying:

The first phase of the drilling program began on June 21 and is expected to be completed by the end of September at a cost of approximately $1 million. This phase of the exploratory core drilling will be done using a widely and evenly spaced program covering a grid designed to test the potential for uranium mineralization over the entire area. Specifically, the objective is to identify oxidation-reduction interfaces within the wide-spaced drilling.

Uranium Resources’ President and CEO, Don Ewigleben says:

 “The Los Finados project allows URI to explore for uranium in one of the largest contiguous untested land blocks in the prolific south Texas uranium district. URI’s water sampling results from our earlier testing, our analysis of local geologic trends, and the history of uranium production in the district suggest that the Los Finados property is highly prospective for the occurrence of one or more uranium deposits that can be produced by commercially viable ISR technology. Our three phase exploratory drilling will confirm what, if any, resources are present on this particular parcel in the district.”

Click here to access the entire news release.