Ucore Uranium Reports 15.2 Meters Grading 0.42% U3O8 from Bokan Mountain
(Vancouver, B.C.) Ucore Uranium Inc. (TSX-V: UCU) is pleased to report additional assay results from the Bokan Mountain uranium project in southeast Alaska.
A total of nine drill holes spanning 422 meters were completed at the I&L Zone in 2007. Assay results from these holes have been reported in the order of their receipt from the assay laboratory, in order to ensure timely news. Partial results for Hole 1 and Hole 2 have already been released, dated November 1 and October 25, 2007, respectively.
Ucore now reports additional results for Hole 2 and complete results for Holes 3 through 9. Highlights of these new assays include 0.42% U3O8 over 15.23 meters, 0.95% U3O8 over 5.31 meters, and 1.28% U3O8 over 1.2 meters.
Significant results are listed below:
|Hole ID||Dip||From (m)||To (m)||Width (m)||U3O8 (%)|
* Partial results for Hole 1 have been previously reported; additional assays pending.
** Partial results for Hole 2 have been previously reported; this table incorporates additional assays.
Reported widths are drill intercepts; true width will be less.
Results for a partial section of Hole 1, and a schedule of surface channel samples from the greater I&L Zone, remain outstanding from the assay facility, ALS Chemex. A map showing hole locations within the I&L Zone of the Bokan Mountain Intrusive Complex is available via Ucore’s website:www.ucoreuranium.com.
“With just a limited number of startup drill holes in 2007, our success rate at Bokan is already extremely high,” said Jim McKenzie, President & CEO of Ucore. “This is a testament to the highly prospective nature of the area. The promising uranium grades identified in Holes 1 and 2 have now been reinforced with additional high grade intercepts in Holes 3, 4, and 5. Collectively, the 2007 drill program has established the I&L area as a superior exploration target for the continuation of drilling. With current assay results correlating very well with prior drill information, we have an increasing level of confidence in the historical data at Bokan. We will be aggressively drilling the I&L Zone in 2008 with in-fill and step-out holes to explore the high grade mineralization at depth and along strike. We have also applied for permits to drill other prospects.”
NI 43-101 Compliance
The I&L Zone is one of more than 30 known uranium occurrences on the Bokan Mountain property related to a peralkaline ring dike complex known as the Bokan Intrusive Complex. Mineralization at I&L is characterized by multiple, southeast-trending, steeply dipping, uraniferous quartz-pegmatite veins near the margin of the Complex. The Ross Adams Zone, located 450 meters southwest of I&L, produced 1.3 million pounds of U3O8 at an average grade of 0.76% between 1958 and 1971.
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, standards, and duplicates were inserted into the sample train in the field and in the laboratory. Analyses were by ICP-mass spectrometer following a lithium metaborate fusion. U3O8 values are length-weighted averages from multiple samples 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; however, true width will be less than apparent width. Holes 1 and 2 were designed to twin prior -80° holes completed by Newmont parallel to steeply dipping vein-type structures, and the intercepts do not accurately reflect true width.
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 the results of holes 2 to 7 contained in this press release. Roger Hulstein, P.Geo, Ucore’s Vice President of Exploration, has reviewed the results of holes 8 and 9.
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. The BokanMountain project contains Alaska’s only prior producing uranium mine. For more information, please visit our website: www.ucoreuranium.com
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 Ucore expects, are forward-looking statements. Although Ucore 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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