Los Finados Project phase II drilling commences

2 December 2011: Uranium Resources, Inc. has announced that Cameco Resources has elected to move forward with Phase II of the three phase exploratory program on the 54,847 acres in Kenedy County, Texas, known as the “Los Finados Project.” The second phase of drilling will begin in December 2011 and is expected to be completed by the end of November 2012.

URI has decided to commit an additional $1.5 million in exploration activities during the twelve-month period ended November 30, 2012, in order to maintain the option to lease the property. In May 2011, URI entered into a joint venture agreement with Cameco for a three-phase, three-year exploration program on the Los Finados property.

Source: Yourindustrynews