Drilling Commences at Ucore’s Bokan – Dotson Ridge Rare Earth Project
(Halifax, N.S., September 10, 2009) Ucore Uranium Inc. (TSX-V: UCU) is pleased to announce that drilling has commenced at its 100% owned Bokan – Dotson Ridge rare earth element (REE) project located in southeast Alaska.
Ucore acquired the property in 2007, and has completed 2,938 meters of drilling over 46 drill holes in 2007 and 2008, primarily investigating the potential for uranium mineralization at the I&L zone. Those drill holes returned anomalously high levels of rare earths, with results of up to 11.5% REE as oxides across 2.5 meters in hole 98-32 (see press release June 15, 2009).
Through its wholly owned US subsidiary, Rare Earth One LLC, Ucore has approved a budget of $2 million for the 2009 Dotson Ridge exploration program, including an extensive ground mapping and surface sampling and mineral characterization initiative, as well as a low level aeromagnetic survey to better understand the REE-prospective area. A drill permit has now been received from the US Forest Service, and More Core Drilling of Stewart, British Columbia has been contracted to provide diamond drilling services on a 24 hour per day basis for a minimum of 2000 meters. The 2009 exploration program will continue to be managed by Aurora Geosciences (Alaska) Ltd. of Juneau, Alaska, under the supervision of Ucore’s senior geological staff.
“We continue to receive excellent support from regulatory authorities and local communities,” said Jim McKenzie, Ucore President and CEO. “We intend to exceed their expectations with compliance, communication, and ongoing consultation. Ucore’s primary focus for the 2009 exploration season will be to expand upon the high grade rare earth mineralization identified over the previous two years. With rapidly growing investor awareness of REE markets and with Bokan’s unique enrichment in heavy REE’s that are in increasingly short supply globally, this is an exciting opportunity to enhance shareholder value by examining well analysed but previously undrilled targets over a wide area. Despite the Bokan area being well known for the presence of uranium and heavy rare earths, this will be the first time it’s ever been explored specifically for REE potential with a rare earth – dedicated advisory team.”
The Bokan – Dotson Ridge project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia. The project area is served by barge and float plane from Ketchikan, with a pre-existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson Ridge project is structurally controlled in multiple dikes and veins radial to a peralkaline intrusive complex. Ucore now controls the entire project area and has separated the uranium-prospective areas at the Ross Adams zone from the REE-prospective zones that comprise the Bokan-Dotson Ridge area to facilitate a dedicated focus on REE potential.
NI 43-101 Compliance
In accordance with NI 43-101 , the technical data in this press release have been prepared under the supervision of Harmen Keyser, P.Geol. (NWT), Ucore’s Vice President of Project Development.
Ucore Uranium Inc. is a well-funded junior exploration company focused on establishing REE and uranium resources through exploration and property acquisition. With multiple projects across North America, Ucore’s primary focus is the 100% owned Bokan – Dotson Ridge REE property in Alaska.
For further information, please contact Mr. Jim McKenzie, President and Chief Executive Officer of Ucore Uranium Inc. at: (902) 482-5214.
Ucore Uranium Inc.
Signed “Jim McKenzie”
Jim McKenzie, President and CEO
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 Corporation 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.