Ucore's primary focus is the Bokan Mountain uranium and rare earth element

Tag : zirconium wire
"These holes are located 100 meters apart along the strike of theI&L Zone," said Jim McKenzie, President & CEO of Ucore."Hole 10 was drilled across the same steeply dipping vein structureintercepted in last year's first two holes, and Hole 11 serves toextend the mineralized zone 100 meters along strike to thesoutheast. Our immediate plan is to move one of our drill rigs awayfrom the core of I&L zone for aggressive step-outs to thesoutheast, where radiometric anomalies suggest additional strikepotential over two kilometers away. Permits from the USFS are nowin hand to drill three more target areas, and on-goingreconnaissance has identified new mineralized zones. Ourexploration team has developed a geological model which will alsobe drill tested this year. We are awaiting multi-element assays,including rare earth analyses, from the first two holes. Drillresults will continue to be announced as they are received andconfirmed."
The I&L Zone is one of more than 30 known uranium occurrencesat Bokan Mountain related to a peralkaline ring dike complex knownas the Bokan Intrusive Complex. The Ross Adams Zone, located 450meters southwest of I&L, produced 1.3 million pounds of U3O8 atan average grade of 0.76% between 1958 and 1971. These were amongthe highest average grades ever recorded by a U.S. based uraniummine. Most of the uranium mineralization in the area ischaracterized by multiple, steeply dipping, uraniferousquartz-pegmatite veins localized by radial fractures near themargin of the Complex. Variable concentrations of light and heavyrare earth elements (REE), zirconium, beryllium, tantalum, andniobium are associated with the uranium mineralization.
NI 43-101 Compliance
Diamond drill core was split on site, with half the coretransported by commercial freight carriers to the ActivationLaboratories analytical facility in Hamilton, Ontario, Canada.Blanks, standards, and duplicates were inserted into the sampletrain in the field and in the laboratory. Analyses were by delayedneutron count. U3O8 values are length-weighted averages frommultiple samples converted from ppm U reported by the laboratoryusing a ratio of 1 part U = 1.17 parts U3O8. Insufficientstructural information is available to make a conclusive statementon the relationship between true width and core intercept; however,true width is estimated at 70-80% of apparent width. Harmen Keyser,P.Geol., Ucore's Vice President of Project Development and aqualified person in accordance with NI 43-101, has reviewed andapproved this press release. A plan map showing drill holelocations will be provided shortly on Ucore's web site.
Background
Ucore Uranium Inc. is a junior exploration company focused onestablishing uranium resources through exploration and propertyacquisition. With more than twenty projects, Ucore's primary focus is the Bokan Mountain uranium and rare earth element property insoutheast Alaska. The Bokan Mountain project contains Alaska's onlyprior producing uranium mine.
This press release includes certain statements that may be deemed"forward-looking statements." All statements in this release, otherthan statements of historical facts, that address futureexploration drilling, exploration activities and events ordevelopments that Ucore expects, are forward-looking statements.Although Ucore believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions,such statements are not guarantees of future performance and actualresults or developments may differ materially from those inforward-looking statements. Factors that could cause actual resultsto differ materially from those in forward-looking statementsinclude exploitation and exploration successes, continuedavailability of financing, and general economic, market or businessconditions.
The TSX Venture Exchange does not accept responsibility for theadequacy or accuracy of this press release.
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