zambian near-production manganese projects jv

They arent wasting anytime by the look of the announcement! Check out the grades that the neighbouring company is mining at the moment!

6 January 2011
Exploration to Commence on Zambian Near-Production Manganese Projects
Uran Limited (ASX: URA) is pleased to announce the successful completion of its capital raising of
$800,000 via the issue of 36,363,635 million shares at an issue price of $0.022 per share with one
free attaching option exercisable at 8 cents by 13 July 2012.
Uran has entered into a Heads of Agreement with a private South African company, African Asian
Mining Development Limited, whereby it has an option to earn a 51% interest in a number of
manganese projects in Zambia.
Urans participation in the Joint Venture is subject to completion of due diligence within 3 months,
which will include field mapping, geophysical surveys and drilling as announced on 29 December
2010. Exploration is likely to commence within the next week.
The properties include 5 large-scale prospecting licences (LPLs) in the Kabwe, Mansa and
Serenje areas, and 2 small scale mining licences (SPPs) in the Mansa area. Mining of
manganese has been carried out in 2010 on one of the SPPs and has exposed a number of
manganese reefs at or close to surface.