🕐04.05.10 - 11:48 Uhr
Mantra Announcement: Exploration and Resource Infill Drilling Ramping Up at Nyota
Dear all,
Please find below the highlights of a recent announcement regarding the
ramping up of the 2010 exploration and resource infill drilling programs
at the Nyota Prospect (Nyota or the Prospect), part of the wholly
owned Mkuju River Project (MRP or the Project) in southern Tanzania.
A significant trenching program will also be completed concurrently with
the drilling
Highlights:
The drilling programs will comprise diamond core, aircore and open-hole
drilling and are being completed with the following objectives:
* To substantially increase the overall resource base by
extending open resource areas and testing new priority targets,
proximal to the existing resource areas;
* To upgrade the resource classification of portions of the
current MRE to the Indicated and Measured categories;
* To complete additional sterilisation drilling to facilitate
optimal site selection of waste dumps and site infrastructure; and
* To allow further assessment of the high grade surface
mineralisation.
The resource infill drilling program will comprise approximately 2,000
metres of diamond core, 13,000 metres of aircore, and 50,000 metres of
open-hole drilling.
With the effects of the wet season dissipating,
three air rigs are now operating at site.
A diamond rig and a fourth air
rig are currently being mobilised to site and will be in operation in
the coming weeks.
The program is anticipated to take approximately four
months to complete and will facilitate the announcement of a revised MRE
in the fourth quarter of 2010.
Surface mapping and geological model development undertaken during 2009
significantly enhanced the Companys exploration targeting capability
and lead to the generation and ranking of numerous priority target
areas, proximal to the known areas of mineralisation at Nyota.
The
initial drill testing of a select number of these targets in late 2009
delivered outstanding results, including the discovery of the Nyota NE
deposit which currently comprises 2.5 million tonnes averaging 503 ppm
for 2.8 million pounds U3O8 of Indicated Resources and 15.4 million
tonnes averaging 469 ppm for 15.9 million pounds U3O8 of Inferred
Resources.
The 2010 exploration drilling program is a continuation of the
evaluation of these priority target areas and will comprise
approximately 1,000 metres of diamond core and 25,000 metres of aircore
drilling on a nominal 100 metre by 100 metre spacing.
This phase of the
program is scheduled to be completed by December, and a further revision
of the MRE is expected to be announced in early 2011.
The full announcement can be viewed by clicking on the following link:
http://mantraresources.com.au/upload/documents/releases/asx/20100504_100
504-Drilling_final.pdf
Please dont hesitate to contact Peter Breese, Robert Behets or Alex
Buck if you have any questions.
Regards
Peter Breese
Chief Executive Officer
A: Level 9, The BGC Centre, 28 The Esplanade, PERTH WA 6000
T: +61 (0)8 9322 6322 F: 61 (0)8 9322 6558 in Australia
T: +27 (0)11 467 2172 F: +27 (0)86 658 3476 M: +27 (0)82 888 6852 in
South Africa
E:
W: www.mantraresources.com.au
Robert Behets
Executive 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
Alex Buck
Investor Relations
T: +44 7932 740 452
E:
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