Bokan Mountain Drill Program in Progress
(Vancouver, B.C., June 18, 2008) Ucore Uranium Inc. (TSX-V: UCU, the Company) is pleased to report that the Company’s 2008 exploration program at the Bokan Mountain uranium and Rare Earth Element (REE) exploration project in southeast Alaska is now under way.
A total of 10 diamond drill holes have already been completed at the I&L zone, an area which returned high grade uranium values from Ucore’s 2007 drilling program. The holes are being logged with a downhole gamma ray spectrometer. Drill core samples from the completed holes are being split and packaged for immediate shipment to Activation Laboratories of Hamilton, Ontario, for analysis.
“With two drills at work, we are very pleased with the rapid progress being made at Bokan this year,” said Jim McKenzie, President and CEO. “Our staff and contractors have been working hard, and are dedicated to long term project success. Depending on assay turn-around time, we hope to be announcing results from our first holes within a matter of weeks. Thereafter, we intend to provide a steady stream of assay results as drilling continues throughout the 2008 season.”
Ucore is planning a minimum of 6,000 meters of drilling at Bokan in 2008. The objectives of the 2008 drill program are as follows: (1) verify uranium and rare earth element values reported from 2007 and earlier drilling; (2) test Ucore’s geological model for the style of mineralization; (3) explore previously untested portions of the I&L zone; and (4) determine if the I&L zone mineralization persists to depth and/or along strike, especially to the southeast where radiometric data suggest high radioactivity levels for a strike length of 3 km.
The Bokan Mountain project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia. The project area is accessed by barge and float plane from Ketchikan, and a pre-existing road network provides access to key target areas. A total of 1.3 million pounds of U3O8 were produced between 1957 and 1971 at an average grade of 0.76% from the Ross Adams zone. More than 30 zones of uranium mineralization in veins, disseminations, and felsic dikes are hosted within, or proximal to, the high level, concentrically zoned, peralkaline Bokan Intrusive Complex. The exploration work continues to be completed through Ucore’s wholly owned US subsidiary, Landmark Alaska Limited Partnership. The 2008 exploration program is being managed by Aurora Geosciences (Alaska) Ltd. under the supervision of Mike Power, P.Geo., a qualified person in accordance with NI 43-101, in collaboration with Ucore’s senior geological staff.
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 100% owned Bokan Mountain uranium and rare earth element property in Alaska.
On behalf of the Board of Directors
Ucore Uranium Inc.
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 Ucore expects, are forward-looking statements. Although Ucore 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.
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Tel: (604) 484-9402