Germany

Bokan Mountain

Exploration Program

Click to Enlarge

Exploration Program

2007-2008

In 2007, Ucore focused on exploring the I&L zone, located 450 meters northeast of the Ross Adams Mine. A total of nine diamond drill holes spanning 422 meters were completed at the previously tested but unmined I&L zone. A high resolution airborne geophysical survey was flown, and an extensive data compilation program was initiated.

Ucore’s primary focus for the 2008 exploration season was to expand upon the high grade uranium mineralization identified at the I&L zone during the 2007 drill program, and to identify and evaluate additional drill targets.

As of September, 2008, 37 holes (holes 10-46) were drilled at four separate target areas, with the majority coming from the I&L zone. Ucore has received and announced significant uranium and multi-element assay results for the first 16 holes of the season (holes 10-25), and is currently waiting to receive assay results for the remaining holes.

In addition to high grade uranium values, the I&L zone is also enriched in rare earth elements and related metals, including yttrium, zirconium, beryllium, and niobium. Results indicate potentially significant concentrations of highly valuable heavy REE’s, many of which are uncommon at most other North American deposits and have valuations ranging from hundreds to over one thousand dollars per pound. Furthermore, surface sampling has identified several zones with even higher REE values outside of the I&L zone and the other main uranium-bearing zones.

Ucore is compiling and assessing the 2008 drill results. The distribution of uranium and rare earth elements is suggestive of (1) an inverse relationship between uranium and rare earth elements, (2) most of the uranium mineralization is located near the margin of the Bokan peralkaline granite complex, and (3) most of the best rare earth element values are found more distant to the intrusive complex.

 

 

2009-Present

 

 

REE’s at Bokan: Supplement to the September 25/08 Press Release

Element
Symbol
Atomic
Number
Bokan
Range %1
Price2
(US $/kg)
Typical Uses
Light REE’s
Lanthanum
La
57
0-0.5
6-30
Optical glass, cast iron, petroleum refining catalyst, alloys
Cerium
Ce
58
0-0.2
4-40
Glass polishing, steel, autocatalysts, self-cleaning ovens
Praesodymium
Pr
59
<0.025
50-60
Glass, magnets
Neodymium
Nd
60
0-0.1
32-50
Magnets (including computers and voice coils), lasers, catalysts
Promethium
Pm
61
-
Synthetic element
Samarium
Sm
62
0-0.04
4-250
Magnets, lighting, lasers, biofuel catalysts
Heavy REE’s
Europium
Eu
63
<0.01
430-1800
Phosphor, nuclear energy controls
Gadolinium
Gd
64
0-0.2
10-400
Microwaves, phosphors, superconductors, medical MRI’s
Terbium
Tb
65
0-0.06
700-1800
Phosphors, fuel cells
Dysprosium
Dy
66
0-0.6
100-150
Lasers, chalcogenides
Holmium
Ho
67
0-0.2
650-2000
Nuclear control rods, lasers, colorants
Erbium
Er
68
0-0.6
20-500
Alloys, glass pigments
Thulium
Tm
69
0-0.1
790-2500
Ceramic magnets
Ytterbium
Yb
70
0-0.5
130-400
X-rays, lasers
Lutetium
Lu
71
0-0.06
2000-3500
Petroleum cracking catalysts
Yttrium
Y
39
0-5
10-50
Phosphors, lasers, ethylene production, ceramics, alloys
1.  Range of REE values at I&L zone, Bokan Mountain, based on drill results released September 25, 2008.
2.  REE prices are transaction based. Therefore prices vary as determined by supply/demand, purity of oxide, and quantity.
** Source for prices: USGS, www.AsianMetal.com, www.Metal-Pages.com; quoted as oxides **
For more specific information relative to REE’s and the valuation thereof, websites such as www.usgs.gov, www.elementsales.com, www.chemicool.com, www.theanchorhouse.com, and www.periodic.lanl.gov publish periodic updates and element summaries of use to educational institutions, business and industry.

REE’s at Bokan: Supplement to the February 26 09 and June 15 09 Press Releases:

Individual Rare Earth Oxide Concentrations in Hole LM08-32

From 106.22 to 112.47 m (apparent width 6.25 meters):

La

Ce

Pr

Nd

Sm

Eu

Gd

Tb

Dy

Ho

Er

Tm

Yb

Lu

Y

LREO

HREO

ΣREO

ppm

534

1184

149

849

297

62

1262

425

3903

1027

3491

549

3322

445

29824

3013

44312

47325

Percent

0.053

0.118

0.015

0.085

0.030

0.006

0.126

0.042

0.390

0.103

0.349

0.055

0.332

0.045

2.982

9.412

0.30

4.73

Kg/tonne

0.534

1.184

0.149

0.849

0.297

0.062

1.262

0.425

3.903

1.027

3.491

0.549

3.322

0.445

29.825

3.01

44.31

47.33

lb/ton

1.068

2.367

0.298

1.699

0.594

0.123

2.524

0.850

7.806

2.054

6.983

1.099

6.645

0.890

59.649

6.03

88.62

94.6

From 106.92 to 109.44 m (apparent width 2.52 m)

La

Ce

Pr

Nd

Sm

Eu

Gd

Tb

Dy

Ho

Er

Tm

Yb

Lu

Y

LREO

HREO

ΣREO

ppm

1091

2401

298

1843

675

146

3057

1038

9564

2520

8566

1348

8142

1091

73133

6309

108604

114913

Percent

0.109

0.240

0.030

0.184

0.068

0.015

0.306

0.104

0.956

0.252

0.857

0.135

0.814

0.109

7.313

0.63

10.86

11.49

Kg/tonne

1.1

2.4

0.3

1.8

0.7

0.1

3.1

1.0

9.6

2.5

8.6

1.3

8.1

1.1

73.1

6.31

108.60

114.91

lb/ton

2.4

5.3

0.7

4.1

1.5

0.3

6.7

2.3

21.0

5.5

18.8

3.0

17.9

2.4

160.9

13.88

238.93

252.81

·
Element
Symbol
Atomic Number
Oxide
Abundance in crust ppm
Bokan
Range %1
Price2
(US $/kg)
Typical Uses
Light REE’s
Lanthanum
La
57
La2O3
18
0-0.5
4-30
Optical glass, cast iron, petroleum refining catalyst, alloys
Cerium
Ce
58
CeO2
46
0-0.2
3-40
Glass polishing, steel, autocatalysts, self-cleaning ovens
Praesodymium
Pr
59
Pr6O11
5.5
<0.025
20-60
Glass, magnets
Neodymium
Nd
60
Nd2O3
24
0-0.1
20-50
Magnets (including computers and voice coils), lasers, catalysts
Promethium
Pm
61
Pm2O3
-
-
Synthetic element
Samarium
Sm
62
Sm2O3
6.5
0-0.04
3-250
Magnets, lighting, lasers, biofuel catalysts
Heavy REE’s
Europium
Eu
63
Eu2O3
0.5
<0.01
32o-1800
Phosphor, nuclear energy controls
Gadolinium
Gd
64
Gd2O3
0.9
0-0.2
10-400
Microwaves, phosphors, superconductors, medical MRI’s
Terbium
Tb
65
Tb4O7
5.0
0-0.06
500-1800
Phosphors, fuel cells
Dysprosium
Dy
66
Dy2O3
1.2
0-0.6
70-150
Lasers, chalcogenides
Holmium
Ho
67
Ho2O3
4.0
0-0.2
25-650
Nuclear control rods, lasers, colorants
Erbium
Er
68
Er2O3
0.4
0-0.6
20-200
Alloys, glass pigments
Thulium
Tm
69
Tm2O3
2.7
0-0.1
80-900
Ceramic magnets
Ytterbium
Yb
70
Yb2O3
0.8
0-0.5
25-230
X-rays, lasers
Lutetium
Lu
71
Lu2O3
10.0
0-0.06
500-2500
Petroleum cracking catalysts
Yttrium
Y
39
Y2O3
28.0
0-10
10-50
Phosphors, lasers, ethylene production, ceramics, alloys
1.  Range of REE values at I&L zone, Bokan Mountain, based on 2008 drill results.
2.  REE prices are transaction based. Therefore prices vary as determined by supply/demand, purity of oxide, and quantity.
** Source for prices: USGS, www.AsianMetal.com, www.Metal-Pages.com; quoted as oxides **

REE’s at Bokan: Supplement to the November 17, 2009 Press Release:

Drill Hole Plan 2007-2009

Dotson Zone DDH Location Map (Oct 20, 2010)

www.ucore.com/trenches

 

 

All Resources Classified as Inferred

Supplement to the March 7, 2011 Press Release

http://ucore.com/bokan-property

Ray Mountains Assay Summary

Supplement to the June 6, 2011 Press Release

Dotson Zone 2011 Drill Locations