Western Metals Uranium Joint Venture Completed

by James Rogers
(UK)

Australian uranium miner Western Metals (ASX:WMT) has completed its target of achieving a 60% joint venture interest with Uranium Resources plc in Tanzania.

The company, which is also currently carrying out due diligence on Parys Mountain on Anglesey with a view to acquiring the copper, zinc, lead project here, has a number of uranium projects in Tanzania.

According to the company, it achieved its Joint Venture target on 30 June 2008 after investing A$4m in the project since May 2006.

WMT says that drilling restarted at the Mtonya Prospect in late May and about 3,500 metres of drilling was completed at the end of June.

Samples have been sent from site for assay and first results should be released in late July 2008.

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