Ucore Announces Start up of Diamond Drill Program at Lost Pond Newfoundland
( Halifax, N.S. ) Ucore Uranium Inc. (TSX-V: UCU) is pleased to announce the commencement of Phase II of a diamond drill program at its Lost Pond property in western Newfoundland . A drill has been mobilized to the U2 grid and the first of several holes is now in progress. This drill program is a follow-up to the Phase I drill program completed in Q1 2007. Initial drilling will test the dip and strike extension of the 07-02 zone, discovered during the first phase of drilling.
The discovery hole had an intersection of 0.045% U3O8 over 12.3 meters within a heavily altered (hematite/magnetite/chlorite) cataclastic unit. A number of other targets are scheduled to be tested on the U2 grid during the Phase II program, including the Dome 2 showing which will further investigate channel sampling results up to 0.52% U3O8 over 0.5 meters.
The Phase II drill program has a minimum objective of 1000 meters, followed by a down hole radiometrics survey of all completed drill holes.
The Company’s Qualified Person (“QP”) is Wayne Reid , P.Geo. As the QP, Reid has prepared or reviewed the technical information for this release. Wayne Reid is a Technical Advisor for Ucore Uranium Inc.
Ucore is a junior exploration company focused on establishing uranium resources through exploration and property acquisition. The Company holds more than 20 active uranium exploration projects across North America, including a flagship property at Bokan Mountain,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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.