Ucore Uranium Inc. Reports 3.9 meters grading 2.43% U3O8 from Bokan Mountain
(Vancouver, B.C.) Ucore Uranium Inc. (TSX-V: UCU) is pleased to report additional assay results from an on-going diamond drill program at the Bokan Mountain uranium project in southeastern Alaska.
Partial results for the first hole are as follows:
|Hole ID||From (m)||To (m)||Width (m)*||U3O8 (%)|
* Reported width is drill intercept; true width will be less.
Preliminary drill results are being announced in the order they are received from the assay laboratory to ensure timely news. A total of nine drill holes have now been completed, and assays will continue to be reported when they are received and confirmed. Partial results were released for hole 2 on October 25, 2007. Assays remain pending for the bottom half of hole 1, the bottom three-quarters of hole 2, and all of the remaining seven holes completed to date. A map showing hole locations is available on Ucore’s website www.ucoreuranium.com.
“These are the kind of results we’ve been hoping for,” said Jim McKenzie, President & CEO of Ucore. “Our geologists have a great deal of work remaining before we can assess the significance of the I&L zone, but clearly we have some very high grade uranium mineralization. We look forward to releasing a steady flow of assay results over the next few months.”
NI 43-101 Compliance
Results reported in this news release are from a near-vertical (-80°) drill hole designed to twin an existing hole completed by Newmont in the 1970’s to test multiple, steeply-dipping, quartz-pegmatite dikes and veins with uranium mineralization exposed on surface at the I&L zone, part of the Bokan Intrusive Complex. Diamond drill core was sawn on site, with half the core transported by commercial freight carriers to the ALS Chemex analytical facility in North Vancouver, BC, Canada. Blanks and standards were inserted into the sample train in accordance with standard laboratory procedures. Analyses were by ICP-mass spectrometer following a lithium metaborate fusion. U3O8 values are weighted averages converted from ppm U reported by the laboratory using a ratio of 1 part U = 1.17 parts U3O8. Insufficient structural information is available to make a conclusive statement on the relationship between true width and core intercept. John McKenney, CPG, a qualified person in accordance with NI 43-101 and the Bokan Mountain Project Manager for Ucore’s wholly owned subsidiary Landmark Alaska Limited Partnership, has reviewed this press release.
Ucore Uranium Inc. is a junior exploration company focused on establishing uranium resources through exploration and property acquisition. With more than twenty active projects, Ucore’s primary focus is the Bokan Mountain uranium and rare earth element property in 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.
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