Encouraging Assay Results from Sandybeach Lake, Nunavut
( Halifax, N.S. ) Ucore Uranium Inc. (TSX-V: UCU) is pleased to report encouraging assay results from the 100% owned Sandybeach Lake property in southern Nunavut.
The Sandybeach Lake property consists of 18 square kilometers staked by Ucore in 2006 to cover an area where historic work had located subcrop and float with high uranium and precious metal values. These historic showings were partially covered by an existing 8 square kilometre claim block owned by Cameco Corporation. Subsequent to Ucore’s staking, Cameco blanket staked the area and completed a detailed airborne radiometric survey.
Ucore’s 2007 follow-up prospecting was directed at select radiometric anomalies identified from airborne data provided by Cameco. Ground prospecting identified an area of highly anomalous uranium values in altered arkosic material and granite. A cluster of angular float material from one of the radiometric targets returned values ranging from 0.18% to 1.47% U3O8. This target area is comprised of a discrete airborne radiometric (uranium) anomaly coincident with a northeast trending magnetic high. Additional targets remain untested.
“We are very encouraged by these results,” said Jim McKenzie , Ucore’s President and CEO. “With the world’s largest uranium producer surrounding us with their claims, we hold a very strategic and prospective land position. Follow-up work for 2008, including diamond drilling, is now being planned.”
Wayne Reid, P.Geo., a technical advisor to Ucore 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.
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.
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