Welcome to Mantra Resources Limited
Mantra Resources Limited ('Mantra') is an emerging uranium company with a portfolio of quality projects in southern Africa.
The results of drilling at the Company’s flagship Mkuju River Project ('the Project') in southern Tanzania have confirmed the presence of multiple thick zones of sandstone-hosted uranium mineralisation at shallow depths at the Nyota Prospect ('the Prospect').
An Inferred Mineral Resource of 35.9 million pounds U3O8 has been estimated for the Prospect. This initial resource estimate is based on drilling that covers only a small part of the total area of the Prospect, and the potential exists to substantially grow the resource base with ongoing work.
The results of a recently completed Scoping Study have confirmed the technical and economic viability of the Project, and its capacity to operate with strong cash margins. Using the current resource estimate as a base case scenario, the Project can support a minimum annual production of 2.5 million pounds U3O8 for a minimum ten year mine life.
A Pre-Feasibility Study is underway and will be finalised during the fourth quarter of 2009, ahead of the award and commencement of a Bankable Feasibility Study. Infill and exploration drilling is also currently being undertaken with the objective of upgrading the resource classification of portions of the current Inferred Mineral Resource, and increasing the overall resource base. The drilling programs are scheduled to be concluded by December 2009, and will be followed by a revised resource estimate expected to be completed in the first quarter of 2010.
Mantra is focused on aggressively pursuing the ongoing exploration, appraisal and potential development of this outstanding uranium Project in order to fulfil its strategic objective of becoming a significant uranium producer in the near-term.
The Board of Mantra includes Directors experienced in the resources industry and the Company’s technical team has experience in uranium exploration as well as operating in African environments, in particular Tanzania and southern Africa.
The Company has an established strategic alliance with Highland Park S.A. (includes original founders and former executives of LionOre Mining International Limited), strong cash reserves and recently announced that it intends to seek a dual listing on the Toronto Stock Exchange ('TSX') in late 2009.
For an animated fly through of the Nyota Prospect please click here.
