News

May 15, 2008

Mantra Resources Is On The Verge Of Opening Up A Whole New Uranium Province

By Alastair Ford

How do you tell the world that you’re on the verge of opening up a new uranium district when you’re hidebound by reporting restrictions, and one of your managing directors actually sits on the Joint Ore Reserves Committee (JORC)? The answer is you get out into the market and show people the size of the anomalies that are showing up on airborne radiometrics. For Mantra Resources, which fits the above description to a tee, that means travel across four continents and managing director Robert Behets has certainly been clocking up the airmiles lately.

The company has been delivering consistently good grades from its core Mjuku River project in Tanzania since it started drilling there in May last year. But the grades don’t tell the whole story, because, although out of 71 holes drilled and assayed so far, 80 per cent have showed up mineralised, and some with grades as high as high as 15 metres at 1,582 parts per million (ppm), they don’t on their own give any indication of the sheer scale of what Mantra is looking at. For that you need the...