Keith Baron's new venture -
u308corp.com
U3O8 Corp. is a private Canadian junior exploration company working towards a listing on a recognized public market exchange. Through a 100% wholly-owned subsidiary, U3O8 has been granted a reconnaissance permit to carry out geological and geophysical surveys for uranium over an area of 579,500 hectares (1.4 million acres) in western Guyana, South America. During the three year term, which can be extended at the Guyana Minister of Mines’ discretion, the subsidiary has the right to stake up to 15 Prospecting Licenses of up to 12,800 acres apiece (aggregate of 192,000 acres or 77,700 hectares) at any time within the permit area. No other parties can stake for uranium while the reconnaissance permit is active - effectively it is a “lock out” to competitor companies.
Uranium mineralization: The reconnaissance permit encloses 8 areas of known outcropping uranium mineralization, spread out over a distance of 70 kilometres, in close proximity to the edge of the Roraima sedimentary basin. A total of 14 of 20 prospects were previously drilled by Cogema of France in 1979-1984. The data base contains 253 drill holes, downhole, ground and airborne radiometric surveys, EM and magnetometer surveys, and soil and stream sediment sampling results.
Athabasca Look-alike: The Roraima Basin is a sedimentary intracratonic basin which is similar in size, age, and composition to the Athabasca Basin of northern Saskatchewan. The uranium showings occur at or below the basin unconformity, in a similar geological setting to the Athabasca and sub-Kombolgie group occurrences of the Northern Territory, Australia – the two premier uranium producing areas in the world.
Favourable Mining Regime: Guyana currently has 14 foreign companies active in mineral exploration, though U3O8 Corp is the sole uranium explorer. The Omai gold mine closed late last year due to depletion of the orebody after 13 years sustained production. The mine produced 3.7 million ounces of gold and contributed more than 20% of Guyana’s GDP. Cambior has recently purchased a bauxite operation and is successfully mining and exporting high grade aluminum ore. The International Finance Corporation of the World Bank is encouraging sustainable mining initiatives in Guyana.
Exploration Going Ahead: U3O8 Corp. is carrying out an intensive exploration programme of the core area where previous uranium mineralization has been found. A combined fixed wing airborne magnetometer, electromagnetic and radiometric survey is planned for Q1 2006, as well as detailed ground investigation of the showings.
Officers & Directors:
Allan Ibbitson President & Director
Dr. Keith Barron Vice-President Exploration & Director
Carmelo Marrelli Chief Financial Officer
Patrick Anderson Director
David Constable Director
Thank you for visiting the website of U3O8 Corp. Our official website is currently under construction and will launch later this quarter. Please bookmark this page and visit us again.
U3O8 Corp.
Suite 3680, 130 King St. West, P.O. Box 99, Toronto, Ontario, Canada M5X 1B1 Tel. (416) 868-1491 Fax. (416) 868-1807 January 31, 2006 |
