Blog Coverage Uranium Resources Completes Staking in the Sal Rica Lithium Brine Project

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LONDON, UK / ACCESSWIRE / November 3, 2016 / Active Wall St. blog coverage looks at the headline from Uranium Resources, Inc. (NASDAQ: URRE) ("URI") as the company announced on November 01st, 2016, that it completed the staking of 168 placer claims, covering an area of approximately 3,360 acres of mineral rights at its Sal Rica lithium brine project in Utah. The addition of these claims increases the Company's controlled mineral rights holdings in the project area to approximately 13,260 acres. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

On November 02nd, 2016, one of Uranium Resources' competitors within the Industrial Metals & Minerals – Uranium space, Cameco Corp. (NYSE: CCJ), reported its consolidated financial and operating results for the third quarter ended September 30, 2016, in accordance with International Financial Reporting Standards. AWS will be initiating a research report on Cameco in the coming days.

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The target area is situated within a region of known brine-hosted lithium mineralization and is approximately 25 miles north of the town of Wendover in Box Elder County. The newly acquired claims adjoin the property recently acquired by the Company from Mesa Exploration Corp. and bring under the Company's control projected extensions of known near-surface lithium brine occurrences in the Sal Rica Project area. The company does not have any production royalty obligations from the newly acquired claims.

Sal Rica Project

The company stated that a shallow drilling program carried out by Quintana Petroleum in 1966 at the Sal Rica Project encountered significant levels of lithium-enriched brines (22 to 81 ppm) associated with near surface aquifers over a wide area of the project area. Confirmation brine samples recently collected by Mesa Exploration personnel returned lithium grades averaging 66 ppm lithium, with values as high as 80 ppm. Initial sampling of sediments in the project area by Uranium Resources personnel also yielded lithium values ranging from 82 ppm to 213 ppm Li.

Expansion Drive

On October 26th, 2016, Uranium Resources announced that its wholly-owned subsidiary, Lithium Holdings Nevada LLC, completed the staking of 392 new mining claims at the company's Columbus Basin Project, located in the Columbus Salt Marsh area of Esmeralda County, Nevada. The new mining claims, which encompass an area of approximately 7,840 acres, expanded the Company's property holdings in the project area to a total of about 10,880 acres in a prospective basin for lithium brines. When it was first acquired, the Columbus Basin Project was previously referred to as the Nina Project.

Extension Payment

Uranium Resources also recently announced that it has received the cash extension payment of $250,000 from Laramide Resources Ltd for Laramide's purchase of URI's Churchrock and Crownpoint properties in New Mexico scheduled to close no later than November 30, 2016, subject to customary closing conditions. The $250,000 payment will be treated as a pre-payment of the $12.5 million purchase price once the transaction closes.

Stock Performance

At the closing bell, on Wednesday, November 02, 2016, Uranium Resources' stock slipped 4.84%, ending the trading session at $1.18. A total volume of 587.42 thousand shares were traded at the end of the day. The stock currently has a market cap of $10.88 million.

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