Universal Power Revs into Exploration in Tanzania
Published in February 15th, 2008
ideaforinvestment.com
With the price on the spot of uranium to rise by $93/lb (still), and a sulphuric shortage of acid in Kazakhstan - the chemicals necessary for the process of leaching which isolates U3O8 from ore - probably to compose the request, there are each indicator which the uranium prices will abruptly go up (still) in month to come. And in spite of the recent seismic shifts for gold and the noble metals, the majority of the analysts project the markets bulls for invaluable and noninvaluable metals will continue to launch snowballs.
Universal Power Corp (TSX.V: UNX, FSE: 3U2A) aims at arming a certain number of promising projects at the market running with resource of charge-bull.
“I believe - and the company believes - that we are in the second round of beater of a total supercycle for uranium, of fossile fuels, noninvaluable metals and gold - and silver plate perhaps as well,” known as Barry Swanson, director and President of universal. “We want to make sure that we are diversified enough to touch all these classes. ”
The universal one has three main targets: In Tanzania, Territories of the North-West (in Canada), and Ontario - this goal to raise the value of shareholder. The Tanzanian project of compartment of Mbamba recently announced a certain dash forwards.
Tanzanian property of compartment of Mbamba to be moved ahead with exploration
Tanzania became increasingly attractive for mineral exploration these last years. An exemplary political climate - filled of the exploitation-friendly policies - facilitated an annual economic growth of the _ 5 since 2000, and the exploitation explains more than half of Tanzania of foreign currencies. Mining industry went up in balloon in the country, and more and more of the structures strongly of promise are explored there.
The project of compartment of Mbamba of the universal power, close to the lake Nyasa, is a perfect example. The square property of 960 kilometers is strongly possible for the layers concealed in the uranium sandstone and igneous. The airborne radiometric outlines have with beginning of the year 80 suggested that the granites and the gneisses in the zone of target are abnormal for uranium, and are rocks of source for a uranium deposit of substantial redox-model. The detailed cartography and radiometry on the ground of the same period described a depth of higher sandstone 20m and depth of a transitory stone 40m. It is of the conditions related to the type roll-before uranium deposits.
Exploration results on the close properties and geologically contiguous indicate that the sector is richly abnormal. The property is on the same structural tendency as Paladin Resource-have had the deposit out of uranium of Kayelekera in Malawi, which supports a resource proven of more than 25 million books of out of uranium. Work makes by Mantra Resources close to the Western border of Mbamba analyzed up to 0.68 _ U in samples of ditch and piece. Drilling in the sector carried out by Geosurvey International returned intersections of 0.04 uranium oxide of _ more 11.7m, with the intersections richest weighing inside with 0.122 uranium oxide of _ more 1.6m.
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