Ucore Identifies 11.5% Total Rare Earth Oxides over 2.5 Metres, 95% of which are Heavy REE’s
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(Halifax, N.S., June 15, 2009) Ucore Uranium Inc. (TSX-V: UCU) has identified significant concentrations of Heavy Rare Earth Elements at its Rare Earth One operated Bokan Mountain property. The anomalous drill core demonstrates the presence of the full suite of highly valuable Heavy Rare Earth Elements (HREE’s) europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, and lutetium.
In a previous press release (Feb. 26, 2009), Ucore identified an interval of 6.3 metres averaging 3.62% HREE and 0.26% LREE (Hole LMO8-32; HREE’s deemed to include yttrium). This converts to 4.69% Total Rare Earth Oxide (TREO). The Heavy Rare Earth Oxide (HREO) component of this total is an impressive 95.4%.
Further analysis of this zone has now identified a subset measuring a significant 11.48% TREO over 2.52 metres (106.92 – 109.44 m). This concentration of rare earths is comprised of 10.85% HREO with 7.31% Y2 O3, and 0.63% LREO. The chondrite-normalized distribution of this section of LM08-32 has been graphed against the REE distribution of known REE ores from Mountain Pass, California and Xuanwu-Longman Province, China, and can be found at the following link:
“The detailed analysis of heavy versus light concentrations is an important aspect of the study of rare earths” said Jim McKenzie, President and CEO of Ucore Uranium. “High HREE concentrations are a strong indicator that mineralizing events may well have produced additional proximal areas of similar grade. When compared to the element distribution from other major REE deposits including those in California and China, it’s evident that our prospect may be an extraordinary Heavy Rare Earth Element source.”
Ucore intends to continue extensive drilling over the known strike length in order to define Bokan mineralization to NI 43-101 standards. As previously reported, this strike length is now estimated at over six kilometres beginning at the Bokan Intrusive Complex, from the proximal I&L Zone and continuing to the more distal Geoduck Zone southeast of Kendrick Bay. In addition to the drill program, metallurgical, liberation and extraction studies will be carried out. The Company intends to employ preliminary 2009 USGS funded geological field studies as a template for its ongoing rare earth exploration at Bokan.
The term “rare earth elements” is a trade name for the 15 members of the lanthanoid series, plus yttrium, characterized by similar physical and chemical properties. Grades are usually reported as calculated rare earth oxides. Demand for rare earth elements in a wide variety of high technology applications is increasing, with supply coming primarily from China.
NI 43-101 Compliance
Diamond drill core from hole LM08-32 was split on site, with half the core transported by commercial freight carriers to the Activation Laboratories analytical facility 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 of metal. 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. Reported values are converted from ppm metal reported by the laboratory using a ratio of 1 part light REE = 1.168 parts LRE2O3, 1 part heavy REE = 1.146 parts HRE2O3, and 1 part Y = 1.269 parts Y2O3. 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. Plan maps showing drill hole locations and a table showing complete assay results have been posted on Ucore’s web site.
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 Mountain rare earth element and uranium project. The project is located on the southern part of the 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.
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