Uranium Resources, Inc. Enters into Uranium Mining Lease Option Agreement

- January 3rd, 2011

Uranium Resources, Inc. (NASDAQ: URRE) reports that it has entered into a uranium mining lease option agreement.

Uranium Resources, Inc. (NASDAQ:URRE)  reports that it has entered into a uranium mining lease option agreement.

The press release is quoted as saying:

 The lease would have a primary term of eight years after lease commencement. The property is located within the prolific South Texas uranium district which has been a major producer of uranium for half a century. Situated near uranium mining operations which produce from the Goliad Formation, the property also hosts several oil and gas fields and is bisected by a major depositional channel system. These provide the geologic, stratigraphic, and geochemical components for uranium deposition and water-saturated host sand with good rock permeability. Locally, water samples taken from a number of wells on the property contain levels of uranium or uranium decay products that indicate anomalously high concentrations of uranium in nearby rock.

Click here to access the entire news release.

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