Black Range Minerals Limited (ASX:BLR) Intersected Thick High Grade Uranium At The Hansen Deposit

Perth, May 26, 2011 AEST (ABN Newswire) - Black Range Minerals Limited (ASX:BLR) is pleased to advise that it has completed its first diamond drill hole at the Hansen Uranium Deposit in Colorado, USA. The Company holds exclusive rights to acquire 100% of the Hansen Uranium Deposit. It also holds a 100% interest in the adjacent Taylor Ranch Uranium Project, which hosts JORC Code compliant indicated and inferred mineral resources of more than 60 million pounds of U3O8.

Multiple horizons of high-grade uranium were intersected in the first hole drilled at the Hansen Deposit, with results returned from electronic logging including:

- 33.5 metres at 0.061% eU3O8 from 186.6 metres, including:

10.1 metres at 0.093% eU3O8 from 193.0 metres,

1.2 metres at 0.081% eU3O8 from 209.8 metres,

4.3 metres at 0.100% eU3O8 from 215.7 metres, including 1.5 metres at 0.171% eU3O8 from 217.9 metres

These initial results confirm that there is extensive high grade uranium mineralisation present at the Hansen Uranium Deposit.

The Company's current 10-12 hole (approximately 3,000 metre) drilling program will continue over the next 3-4 months as it acquires additional geological, metallurgical, geotechnical and hydrological information as part of its program to update historic feasibility studies undertaken on the Hansen Uranium Deposit.

The Hansen Uranium Deposit - Background

The Hansen Uranium Deposit was discovered in 1977. Approximately 1,000 holes were drilled previously to define the deposit. Mineralisation is hosted by a flat-lying sandstone sequence, with the high-grade portion of the deposit being up to 45 metres in thickness.

Three feasibility studies into the development of the Hansen Deposit were completed between 1979 and 1981. These studies concluded that the deposit could be viably developed by way of open pit mining. All permits necessary to mine the deposit were subsequently issued; however, mining never eventuated because the global uranium price collapsed shortly after permits were awarded.

A JORC-compliant resource is yet to be finalised for the Hansen Uranium Deposit. However, from the abundance of work undertaken previously it was reported that the deposit hosts in the order of 15-20 Mt of mineralised material at a grade of 0.06- 0.08% U3O8 for circa 30 million pounds of U3O8. As a mineral resource is yet to be calculated for the deposit under the JORC Code, this quantity and grade of mineralisation is conceptual in nature and is an exploration target, and it is uncertain if further exploration will result in the determination of a mineral resource of this size.

The Hansen Uranium Deposit is located immediately adjacent to the Company's 100%-owned Taylor Ranch Uranium Project, which hosts JORC Code compliant indicated and inferred mineral resources of more than 60 million pounds of U3O8.

The combined Taylor Ranch/Hansen Uranium Project is one of the largest uranium projects within the USA.

For the complete Black Range Minerals announcement including tables and figures, please view the following link:
http://www.abnnewswire.net/media/en/docs/543089.pdf

Contact

Mike Haynes Managing Director E-mail: info@blackrangeminerals.com Tel: +61-8-9481-4920 http://www.blackrangeminerals.com