Platinum Palladium Nickel Property Increases in Size
Wed Apr 22, 11:45 AM
ca.news.finance.yahoo.com
Vancouver, BC, April 22, 2009: Ultra Uranium Corp. (“Ultra”) (TSX.V-ULU) is pleased to announce that Ultra has increased the size of its Buck Lake Platinum/Palladium/Nickel property located in the Lac Des Iles area of North Western Ontario approximately 25 kilometers west of the Lac Des Iles Palladium Mine and 100 kilometers north west of Thunder Bay. Ultra has reported assay results of up to 31.6 grams per ton palladium, 2.82 grams per ton platinum, 0.64 grams per ton gold, 1.5% copper and 9.96% nickel in grab samples taken from fresh open pits blasted in the rock at the Main Discovery Area at the Buck Lake Project.
The Buck Lake Project is underlain by the Buck Lake Intrusion, one of several mafic-ultramafic intrusions on the “Ring of Fire” which is a 30 kilometre circular geological structure located in the Lac Des Iles area, well known for the presence of platinum/palladium mineralization. North American Palladium’s Lac Des Iles Palladium Mine is located on the Lac Des Iles Intrusive Complex, another mafic-ultramafic intrusion located on the “Ring of Fire”. Reported contained resources (measured and indicated) at North American Palladium’s Lac Des Iles mine are 3.87 million ounces palladium, 300,000 ounces platinum and 300,000 ounces of gold.
The additional property areas consist of 8 claims totalling 66 units (1 unit is approximately 400 square metres) staked surrounding the eastern portion of the Main Discovery Area at the Buck Lake Project, and continuing south to surround the southern portion of Ultra’s entire property group at Buck Lake. The additional property areas were selected to cover a larger portion of the Buck Lake intrusion.
Ultra is planning continuing exploration for additional high grade Platinum/Palladium/Nickel mineralization at the Buck Lake intrusion that could help to determine the source of previous high grade samples at the Main Discovery Area. Consulting geologists believe that the highly mineralized pyroxinite clasts discovered on surface showings at the Main Discovery Area are in fact fragments of a mineralized unit located at depth that was intruded by mafic and felsic magma, which caused the brecciation and remobilization of the platinum group elements to form highly mineralized heterolithic breccia. Ultra’s current goal is to find the extensions of this breccia.
This news release was reviewed and approved for technical disclosure by Dr. Bohumil (Boris) Molak, P.Geo, a consulting geologist and qualified person for the Buck Lake project.
Ultra’s common shares are listed and called for trading on the TSX Venture Exchange with the trading symbol “ULU”. Information on Ultra can be accessed at www.ultrauranium.com.
ULTRA URANIUM CORP.
Per: “Raymond W. Roland”
Raymond W. Roland, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. |
