[REE] Ucore Uranium Inc. Updates Flagship Property Progress
Mon Sep 17, 7:00 AM
ca.news.finance.yahoo.com
HALIFAX, NOVA SCOTIA--(Marketwire - Sept. 17, 2007) - Ucore Uranium Inc. (TSX VENTURE: UCU.V) is pleased to provide an update on exploration work at the Bokan Mountain uranium rare earth property near Ketchikan, Alaska.
A total of five drill holes have now been completed at the BIC (Bokan Intrusive Complex). The core has been logged, sawn, and sampled under NI 43-101 compliant procedures. Samples have also been sent to ALS Chemex Laboratory in Vancouver, BC for multi-element analysis. The radioactivity levels of some of the samples required special packaging and handling to comply with all international hazardous materials shipping regulations.
The BIC is one of numerous known uranium and rare earth element occurrences at Bokan Mountain. These include the Ross Adams uranium deposit which produced 1.3 million pounds of uranium at an average grade of 0.76% U3O8 between 1957 and 1971. Most of the occurrences are associated with a peralkaline intrusive complex or radial dikes extending outward from the main intrusive. Ucore exploration personnel are evaluating other occurrences for future drill testing as drill contractors become available. Two thousand feet of drilling is planned to test the I and L Zone.
"We are making good progress with our drill program, which will add an important component to the verification of Bokan's historical resource," said Jim McKenzie, President & CEO of Ucore. "Our geologists have been working hard to understand the complex structural setting of the uranium and rare earth element mineralization, and this work has identified multiple drill targets in previously untested areas at Bokan Mountain. We will continue to aggressively explore and drill as long as weather conditions permit, and we are already securing drill contractors for 2008."
Ucore Uranium Inc. is a junior mineral exploration company with mineral properties in Alaska, Yukon, Northwest Territories, Nunavut, Ontario, Quebec, New Brunswick, Newfoundland, and Labrador. This news release has been reviewed by John McKenney, CPG, Bokan Mountain Project Manager.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
Contacts
Jenn Gillespie
Ucore Uranium Inc.
Investor Relations
(902) 482-1257 or Cell: (902) 441-4004 |
