Ucore Reports 0.51% U3O8 from Mineralized Float Proximal to 3 km Long Radiometric Anomaly at Elliott Lake
( Vancouver, B.C.) Ucore Uranium Inc. (TSX-V: UCU) is pleased to announce encouraging exploration results from its 100% owned Elliot Lake West property in Ontario.
The Elliot Lake uranium camp has produced more than 270 million pounds of U3O8 from a variety of pyritic quartz pebble conglomerate units. Ucore’s claims cover the western strike extension of two of these productive quartz pebble conglomerate units. Previous work had identified bedrock mineralization with historic values up to 0.32% U3O8 over narrow widths, but the ground remains under-explored.
Ucore has completed a two week prospecting program on the property and collected a total of 24 bedrock and float samples for uranium analyses. Results varied from 15 ppm U to 4,340 ppm U (0.51% U3O8 equivalent). Highlights of the prospecting program include the identification of a cluster of semi-massive hematitic float boulders within a 0.4 x 1 km area which assayed between 0.034% and 0.51% U3O8 and averaged 0.26% U3O8.
Following these encouraging results, Ucore contracted Precision GeoSurveys Inc. to collect airborne radiometric data over the entire property area. The low-level survey was completed with a high resolution multi-channel spectrometer flown by a helicopter with flight lines spaced 100 meters apart. The radiometric survey has identified a number of total count and uranium channel anomalies closely coincident with the favorable quartz pebble conglomerates. The most significant anomaly is a discrete target 3 km long by up to 700 meters wide which has radioactivity up to ten times background. This target, referred to as the Ten Mile Lake East target, is located within a linear west-northwest trending anomaly which traverses across the claims and includes the area of uranium-bearing float.
Jim McKenzie , Ucore’s President and CEO, stated, “despite the similar geological setting and proximity of our Elliott Lake West property to one of the world’s largest uranium mining areas, very little prior exploration has been done on this ground. A follow-up program of linecutting and ground geophysics will be carried out this winter to better define the target area for drilling.”
Ucore’s Elliot Lake West property covers a total of 197 contiguous claim units in 14 claim blocks covering 3152 hectares staked in the west end of the Elliot Lake uranium camp. An additional two claim blocks (32 units) were also staked on the northwest corner of the package; however ownership is subject to a dispute filed with the Ontario Mining Recorder.
Ucore Uranium Inc. is a junior exploration company focused on establishing uranium resources through exploration and property acquisition. Ucore holds more than 20 active uranium exploration projects, including the Bokan Mountain property in Alaska . Wayne Reid , P.Geo., a technical adviser to Ucore, has reviewed this press release.
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.
For more information, contact
Tel: (902) 482-5214
Cel: (902) 441-4004