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Ucore Confirms New Rare Earth Discovery at Sunday Lake, Intersecting 4.8 meters of 1.8% TREO and 95% Heavy Rare Earth Content

 

November 30, 2009 – Ucore Uranium Inc. (TSX-V: UCU) (“Ucore” or the “Company”) is pleased to provide ongoing assay results from its 2009 drill program at the Bokan-Dotson Ridge project in southeastern Alaska.

Two of three drill holes completed northwest of Bokan Mountain have now confirmed a new discovery of high grade heavy rare earth element (HREE) mineralization. The location, known as Sunday Lake, first indicated the possibility of a new discovery marked by strongly anomalous REE abundances from hand-pit sampling at surface (see Ucore press release: Aug. 20/09). Drilling has now confirmed the presence of significant HREE mineralization at this location in the subsurface. The results of these holes are summarized below.

Hole ID Zone From (m) To

(m)

Width (m) LREO % HREO % TREO % % HREO*
LM09-65 Sunday L (A) 21.20 26.00 4.80 0.10 1.73 1.83 95
Including (B) 22.20 23.00 0.80 0.13 3.82 3.95 97
LM09-66 Sunday L (C) 18.12 19.84 1.72 0.07 0.81 0.88 92
LM09-67 Sunday L           NSV  
LM09-68-73 pending           pending  
  • LREO = Light rare earth elements: La, Ce, Pr, Nd, and Sm as oxide
  • HREO = Heavy rare earth elements: Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu, and Y as oxide
  • TREO = Total rare earth oxides: LREO + HREO
  • * % HREO = HREO as percent of TREO
  • NSV = no significant values
  • All widths are apparent widths.

 

Individual light rare earth oxide values in Pounds per Ton are detailed in the table below.

Zone Width (m) La2O3 Ce2O3 Pr2O3 Nd2O3 Sm2O3
A 4.80 0.25 0.54 0.01 0.50 0.55
B 0.80 0.11 0.36 0.01 0.83 1.22
C 1.72 0.21 0.51 0.07 0.37 1.45

 

Individual heavy rare earth oxide values in Pounds per Ton are detailed in the table below.

Zone Width (m) Eu2O3 Gd2O3 Tb2O3 Dy2O3 Ho2O3 Er2O3 Tm2O3 Yb2O3 Lu2O3 Y2O3
A 4.80 0.11 2.11 0.52 3.69 0.79 2.27 0.29 1.35 0.16 23.29
B 0.80 0.26 4.91 1.13 7.69 1.58 4.23 0.49 2.14 0.23 53.81
C 1.72 0.06 0.96 0.23 1.68 0.34 0.96 0.11 0.55 0.06 11.18

Note: to convert lbs/ton to ppm multiply by 500; to convert lbs/ton to % multiply by 0.05.

“This is the first time that the Sunday Lake area, located more than 4 kilometres northwest of the Dotson Trend, has ever been drilled,” said Jim McKenzie, President and CEO of Ucore. “This is a new discovery in an area which had no bedrock exposed at surface. Hand pitting of an airborne geophysical anomaly identified mineralized rubble in overburden, which subsequently returned some very high HREE values, as reported earlier this year. The current drill holes now confirm an extraordinarily high skew towards the valuable heavy rare earths. At 95% HREE content, as a percentage of total REE’s, Bokan-Dotson Ridge continues to deliver some of the highest skews toward heavy REE’s on record in North America. This is an important discovery for Ucore since it adds substantially to the potential resource available within the overall project area. Sunday Lake will be high on our list of prospective targets as exploration continues at Bokan-Dotson Ridge.”

The Sunday Lake prospect has long been a geologic target of interest dating as far back as the US Bureau of Mines resource study of 1989 (Warner & Barker; USBM OFR 33-89). However, the 2009 drill program represents the first time that drill equipment has been deployed to this area which is to the immediate northwest of Bokan Mountain. Sunday Lake is spatially removed from the I&L Zone and the Dotson Trend, the latter of which has been the primary focus of 2009 drilling. A structural interpretation of results from the three Sunday Lake holes suggests that the third hole (hole 67) was stopped prior to intersecting the mineralized zone, which appears to be dipping steeply to the west rather than to the east as originally anticipated.

The Sunday Lake prospect is located along the northwestern margin of the Bokan Mountain Intrusive Complex. Reconnaissance mapping of the area suggests that the Sunday Lake prospect may be the southern extent of a 3 kilometre long structural trend that includes the Sunday Lake, Boots, and Geiger Prospects (collectively referred to as the Sunday Trend). The Dotson and Sunday Trends represent significant prospective mineralized areas spanning more than 3 kilometres each on opposite sides of Bokan Mountain. Further investigation will be required to determine if the two trends are geologically related.

Mineralization at the newly discovered Sunday Lake area is hosted by altered granitoid rocks adjacent to the Bokan peralkaline intrusive complex in an area with very limited exposure. Additional assay, mineralogical, and metallurgical investigations are underway.

NI 43-101 Compliance

Diamond drill core was split on site, with half the core transported by commercial freight carriers to the EcoTech Laboratories analytical facility in Kamloops, B.C., Canada, with check assays submitted to Actlabs in Ancaster, Ontario, Canada. As part of a rigorous QA/QC program, blanks, standards, and duplicates were inserted into the sample train in the field and in the laboratory. Analyses were by a combination of inductively-coupled plasma mass spectrometry and X-ray fluorescence. Reported values are length-weighted averages from multiple samples. All widths reported are core intercepts; insufficient structural information is available to make a conclusive statement on the relationship between true width and core intercept. Harmen Keyser, P.Geol. (NWT), Ucore’s Vice President of Project Development and a qualified person in accordance with NI 43-101, has reviewed and approved the technical content of this press release. A map showing drill hole locations is available at:

/docs/Bokan_Drill_Location_Map.pdf

Background

Ucore Uranium Inc. is a junior exploration company focused on establishing REE and uranium resources through exploration and property acquisition. With multiple projects, Ucore’s primary focus is the Rare Earth One operated Bokan – Dotson Ridge rare earth element and uranium project. The project is located on the southern part of Prince of Wales Island in southeastern Alaska, with excellent deep water access and proximity to major sea and rail shipping routes across North America and to Asia.

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 the TSX Venture Exchange nor its Regulation Services Provider (as defined by the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.