🕐03.12.09 - 02:37 Uhr
Mantra Announcement: Significant Increase in Nyota Resource
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
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