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Monaro Mining [ASX: MRO] - 250% increase in uranium resource inventory at Rio Puerco Deposit, New Mexico USA Monaro Mining NL (ASX: MRO) announces that the detailed, independent re-evaluation of the Rio Puerco mine data-set has resulted in a significant increase in the projects uranium resource inventory. This work, which was initiated to update the previous estimate (4.5 million pounds at 0.12% U3O8) to comply with current JORC requirements, has seen the uranium resource inventory increased some 250% to 11.4 million lbs.
HIGHLIGHTS: * Significant increase in uranium resource inventory at Rio Puerco from 4.6 million lbs to 11.4 million lbs at a grade of 0.09% eU3O8 (900 ppm eU3O8) * Considerable upside to increase resources as the current JORC resource has been calculated on only one claim block - representing just 7% of Monaros total land holding in the Rio Puerco area * Potential for conventional or ISL mining * An exploration target of between 1.3 and 2.6 million lbs identified on mine site claims * Exploration potential of greater Rio Puerco area confirmed with multiple target options defined near mine site as well as regionally * Exploration program to be re-focused as a result of positive data review * Data validates the quality of the Rio Puerco asset
For further information, please contact: James Malone, Chairman on +61 4 19537714 or Mart Rampe, Executive Director, on +61 2 4647 9566 Media Enquiries: Fortbridge - Bill Kemmery on +61 2 9331 0655,
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