Tanzanian Project

Mkuju – (OML 100%)

Mkuju is situated in Southern Tanzania and adjoins the Mkuju River Project owned by Uranium One. It displays a high potential for an economic deposit, provided the stratigraphy is right and hydro geological conditions for ISL are met.

The majority of the uranium deposits and occurrences in eastern and southern Africa occur within the Karoo Supergroup, a thick sequence of continentally derived clastic sediments. Sandstones are the dominant lithology, with lesser amounts of conglomerate, siltstone, and mudstone. Coal measures are also present within the supergroup, which ranges from late Carboniferous to Jurassic in age.

In southern Tanzania the Karoo sediments are within the north-northeast trending Selous Basin, a rift basin that extends over a length of about 550km and a width of up to 180km (Figure 3). Most of the uranium occurrences in southern Tanzania are within these sediments. The uranium occurrences of the Mkuju River Project area are within very coarse felspathic sandstones, which contain minor interbedded siltstone units. The sediments are interpreted to have formed within a braided river system.

The project is located almost 985kilometers SW of Dar es salaam city. In 2011 a resource was declared by Uranex at 6.1MIb of U3O8 at a grade of 237ppm.