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Uranium One announces updated resource estimate for Mkuju River Project
Uranium One Inc. has announced an updated mineral resource estimate for the Mkuju River Project in Tanzania. Following a re-evaluation and additional geological exploration work, Measured & Indicated Resources increased by 42% to 93.3 million pounds of U3O8 (about 35,900 tonnes of uranium). Inferred Resources amounted to 26.1 million pounds of U3O8 (about 10,000 tonnes of uranium). The overall mineral resource estimate increased from 101.4 million to 119.4 million pounds of U3O8 (about 45,900 tonnes of uranium).
Mkuju River is the flagship project of the Australian public company Mantra Resources Limited, 100% of which has been acquired by ARMZ Uranium Holding Co. After the completion of the deal in June 2011, Uranium One Inc. became the operator of the Mkuju River Project.