Uranium Resources Post Six Month Results

Uranium Resources Plc (LSE:URA) announced results for the six month period ended 31 December 2011.

Uranium Resources’ Managing Director, Alex Gostevskikh said:

During the period under review, Uranium Resources has made remarkable progress.  Our exploration model for Mtonya, which was tested by drilling deep holes in 2010, led to the discovery of roll-front uranium mineralisation in 2011.  In 2012, we are taking Mtonya to a new stage by launching a transformative 20,000 m drilling programme.

As quoted in the press release:

The Company’s exploration model is based on the well-substantiated premise that the neighbouring Nyota project, approximately 60 km to the north of Mtonya, is a small segment of a regional mineralised roll-front feature, most of which has no surface exposure.  The Nyota project, which is owned by ARMZ and operated by Uranium One, has an indicated and measured resource of 93 Mlb U3O8.

Click here to read the Uranium Resources (LSE:URA) press release.