3.1 meters grading 0.62% U3O8 reported from Bokan Mountain
(Vancouver, B.C.) Ucore Uranium Inc. (TSX-V: UCU) is pleased to report preliminary assay results from an on-going diamond drill program at the Bokan Mountain uranium-rare earth element project in southeastern Alaska.
While only partial results are available for the holes completed to date, drill results are being reported in the order they are received to ensure timely news. All of the 2007 drilling is being completed at the I&L zone, part of the much larger Bokan Intrusive Complex. Significant results are as follows:
Due to an industry-wide shortage of assay capacity, especially with highly radioactive uranium-bearing samples which are subject to transportation, environmental, and health standards, assay results are still pending for the first hole, the bottom three-quarters of the second hole, and all the remaining holes and surface channel samples. A total of eight holes have now been completed, and assays will be reported when they are received and confirmed. A map showing hole locations has been posted on Ucore’s website www.ucoreuranium.com.
“Ucore’s exploration team continues to deliver successes at our high grade Bokan Mountain uranium-REE project,” said Jim McKenzie, President & CEO. “These results confirm the high-grade nature of uranium mineralization at the I&L zone and will help bring an existing historic database into compliance with modern standards. This prospect remains open to expansion, and drilling will continue as long as weather conditions permit. Meanwhile, preparations are underway for an expanded program in 2008 to test some of the more than 30 known mineral prospects on this property as we anxiously await the remaining assays.”
NI 43-101 Compliance
Results reported in this news release are from near-vertical (-80°) drill holes designed to twin existing holes completed by Newmont in the 1970’s to test multiple, steeply-dipping, quartz-pegmatite dikes and veins with surface uranium mineralization at the I&L zone, part of the Bokan Intrusive Complex. Diamond drill core was sawn on site, with half the core transported by commercial freight carriers to the ALS Chemex analytical facility in North Vancouver, BC. Blanks and duplicates were inserted into the sample streams in accordance with standard laboratory procedures. Analyses were by ICP-mass spectrometer following a lithium metaborate fusion. U3O8values are weighted averages converted from ppm U reported by the
laboratory using a ratio of 1% U = 1.17% U3O8. Insufficient structural information is available to make a conclusive statement on the relationship between true width and core intercept. Alan Morris, CPG, an independent consulting geologist for Ucore’s subsidiary Landmark Alaska Limited Partnership and a qualified person in accordance with NI 43-101, has reviewed this press release.
Ucore Uranium Inc. is a junior exploration company focused on establishing uranium resources through exploration and property acquisition. With more than twenty active projects, Ucore’s primary focus is the Bokan Mountain uranium and rare earth element property in Alaska. Ucore owns a 100% interest in 238 claims at Bokan Mountain, and has the option to purchase a 100% interest in an additional 92 claims.
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.
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