Uranium Resources completes initial testing on Ambrosia Lake cores

Source: Uranium Resources

Uranium Resources, Inc. (NASDAQ:URRE) (URI) announced that a third-party laboratory analysis of the approximately 70 feet of cores recovered from its Ambrosia Lake property showed low organic carbons, which, in URI’s opinion, indicates that some of the 860,000 pounds of in-place mineralized material at this property may be amenable to in situ recovery (ISR) mining.

Don Ewigleben, President and CEO of URI, commented, “This property is not yet licensed or permitted. Although further leaching studies will be required to establish recovery percentages in a full scale mining scenario, we do not currently plan such additional work until after the completion of the feasibility study currently underway on our Churchrock/Crownpoint ISR project.”

Mr. Ewigleben concluded, “Currently, we are in the midst of an in depth feasibility study of our New Mexico projects with a priority on our Churchrock/Crownpoint ISR project, which we expect to complete by the end of 2011. Our goal is to be in a position to begin construction of wellfield and processing facilities in 2012 and to be in production in 2013, assuming the license renewal processes move forward in a timely manner, there is a sustained recovery in uranium prices and that financing is available for the necessary capital expenditures to build the infrastructure.”

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