Uranium Hunter Corp. (URHN.OB) was founded with the purpose of building a portfolio of quality Uranium exploration properties in East Africa. The Company is already well positioned in the region with its 100% interest in the Uranium-Au property in Njombe & Songea Districts in Tanzania.
Uranium Hunter’s Tanzania property covers sediments of the Karoo sequence, which shares features similar to that of the rocks of the Colorado Plateau in the western U.S. where uranium exploration companies have become prolific producers. Uranium has been discovered in Karoo rocks in Tanzania and northern Malawi where Paladin Resources (TSX:PDN) has produced a positive feasibility study for an open pit Uranium mine with an inferred resource of 9.4 Mt of ore at 0.12% U3O8 containing 10,850t U3O8.
The company has also signed letters of intent with NPK Resources Ltd to earn 100% interests in both “Kagadi” and “Nikoko” Uranium Exploration projects in the Kibaale District, Western Uganda. The region contains more than 820 km2 of land, and is located close to the southeast corner of Lake Albert. In January 2007, a $42 million high value mineral centered aerial survey commenced and the results of the aerial survey are expected to be released soon.
The President of Uranium Hunter, Ghaith Qamheiah, recently expressed his optimism regarding his company’s future stating, “Recent strengthening in the price of uranium is encouraging. We are seeing a strong renewal of interest in our market for Uranium exploration. With all these new reactors being built over the coming years, we expect to see the demand and price of uranium appreciate considerably. We are now well positioned to capitalize on this demand and expect our results to reflect positively in our Company’s bottom line. Once all the results of the airborne surveys are complete, we will release additional information to our shareholders and the investment world.”
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