The Mkuju Uranium Project (100% owned by Uranex) is located in Southern Tanzania and covers a total area of approximately 5000km2(Figure 1).
Extensive uranium anomalism, striking approximately 69km in total, have been identified within five separate prospect areas including Likuyu North (5km), Likuyu South (18km) Mteramwahi South (19 km), Mteramwahi North (17 km) and Matemanga (10 km) (Figure 2). All anomalies are interpreted to occur within Karoo sandstone hosted environment.
The Company is targeting sedimentary uranium type deposits that typically form as tabular and roll-front bodies hosted by coarse sandstones. Examples of sandstone hosted tabular deposits include the Uranium 1 owned (previously Mantra Resources Limited) Nyota deposit in Southern Tanzania (101.4M lbs @ 422ppm U3O8) and the Paladin Energy Limited Kayelekera Mine in Malawi (46M lbs @ 802ppm U3O8), both of which are hosted nearby in similar geological settings of Karoo sandstones. The Alliance Resources/Heathgate Resources Four Mile Project in South Australia (72 Mlbs @ 3,700ppm U3O8) and the extensive uranium deposits in Kazakhstan are other examples of sandstone-hosted uranium deposits.
Results of the 2011 drilling programme carried out at the Likuyu North Prospect (Figure 3) have confirmed and extended the known uranium mineralised zone. A total of 26,887m of drilling was completed (8 diamond and 213 aircore drillholes). All drillholes were sampled via downhole geophysical methods and diamond core was sampled for laboratory analysis. Lab and downhole geophysical assay results will be compared for QAQC purposes. Continuity of uranium mineralisation has been confirmed visually and geophysically (downhole gamma and hand-held Niton XRF) within the eight diamond drillholes drilled adjacent to aircore holes during 2011. Assay results for the drillcore are expected during the first quarter of 2012 (see quarterly reports for detailed lists of best intersections).
Drilling to date at Likuyu North has intersected substantial high grade, with the known mineralised zone now extended to 2.6km of the 5km zone defined by the surface radiometric anomaly. Mineralisation is open in a number of directions, with a number of holes ending in mineralisation. The potential also exists to find economic uranium mineralisation within the project area that is not associated with surface radiometric anomalism.
Comprehensive tables listing significant uranium mineralisation intersected during 2011 drilling at Likuyu North can be found within the quarterly reports for 2011.
Fieldwork planning is currently underway for 2012 and currently includes resource expansion and greenfields target drilling at Likuyu North and Likuyu South. An extensive mapping programme is also planned for the Mkuju Project area. An airborne geophysical survey comprising magnetic and radiometric data collection is currently planned to commence during April 2012.
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Figure 1. Southern Tanzania Projects
