Dear all,
Please find below the highlights of announcement made today regarding an update of the Mineral Resource Estimate for the Nyota Prospect, part of the Companys wholly owned Mkuju River Project in southern Tanzania. Highlights: * Mineral Resource Estimate (MRE) has increased by 24% from the previous statement (35.9 Mlbs); * Average grade of the MRE has increased by 11%; * 17.0 Mlbs U3O8 or 38% of the MRE now classified as an Indicated Resource; * Majority of the MRE is within 60 metres of surface; * Results from the exploration drilling program, including Nyota NE, have not been included in this MRE; * The current phase of exploration drilling will be concluded in early December and followed by a further MRE update in the March quarter of 2010; and * Potential exists to substantially increase the resource base with ongoing work.
Mkuju River Project - Nyota Prospect Mineral Resource Estimate as at 2 December 2009
Tonnage (million tonnes) Grade (U3O8 ppm) Contained U3O8 (million pounds) Indicated Resource 15.3 504 17.0 Inferred Resource 29.1 430 27.6 Notes: The resource is estimated at a lower cut-off grade of 200 ppm U3O8 All figures are rounded to reflect appropriate levels of confidence
The full announcement can be viewed by clicking on the following link:
http://mantraresources.com.au/upload/documents/releases/asx/20091203_091 203-MRP_MRE_TSX_final_website.pdf
Please dont hesitate to contact me or Matthew Yates if you have any questions.
Regards
Robert Behets Joint Managing Director
A: Level 9, The BGC Centre, 28 The Esplanade, PERTH WA 6000 T: 618 9322 6322 F: 618 9322 6558 E: W: www.mantraresources.com.au
Matthew Yates Joint Managing Director
A: Level 9, The BGC Centre, 28 The Esplanade, PERTH WA 6000 T: 618 9322 6322 F: 618 9322 6558 E: W: www.mantraresources.com.au