Note: lbs/t is an abbreviation for pounds per tonne.
Potential quantity and grade are based on drill results that define the approximate length, thickness, depth and grade of the target area, but are considered conceptual in nature. The drilling reported in this release constitutes infill drilling on the Aricheng West structure with the aim of defining a mineral resource. No mineral resource has been completed on the Aricheng West structure to date, and it is uncertain if further exploration will result in such target being delineated as a mineral resource.
Aricheng West Structure
Uranium at Aricheng West is concentrated in a set of near-vertical, sheet-like breccias that have an easterly trend that extends over 1km and is still open along strike. The principal mineralized structures correspond closely with corridors of unusually weak magnetism that goes beyond the area that has been drilled (Figure 2). Extensions to these weakly magnetic corridors constitute targets that warrant further exploration drilling.
Mineralization at Aricheng West extends from the near-surface saprolite to at least 340 metres ("m") below surface. Saprolite is the layer of clay that lies between the soil and hard-rock, and is formed by the weathering of rock in tropical environments. Original uranium minerals found in hard-rock at depth have weathered to a secondary uranium-bearing mineral called torbernite in the clay layer. This may represent a low-cost mining component to the Kurupung Project since open-pit mining of the clay layer would be relatively inexpensive while uranium is typically easily leached from torbernite. Metallurgical test work is underway on samples of mineralized saprolite to determine the extent to which uranium can be extracted. The saprolite varies in thickness from 10m to 80m over the Kurupung Project area, and averages 20m thick at Aricheng West.
Quality Assurance & Quality Control
QA/QC procedures for Aricheng West are the same as those used in U3O8 Corp's exploration elsewhere in the Kurupung Project as described in the press release dated April 20, 2011, available on the company's web site at www.u3o8corp.com and on SEDAR at www.sedar.com.
Dr. Richard Spencer, President and CEO of U3O8 Corp., a Qualified Person within the definition of that term in NI 43-101 of the Canadian Securities Administrators, had overall responsibility for target and drill-site selection at the Aricheng West target. Dr. Spencer has supervised the preparation of, and verified, the technical information in this release.
About U3O8 Corp.
U3O8 Corp. is a Toronto-based exploration company focused on exploration and resource expansion of uranium and associated commodities in South America - a promising new frontier for exploration and development. U3O8 Corp. has one of the most advanced portfolios of uranium projects in the region comprising NI 43-101 compliant resources in Guyana, Argentina and Colombia. Additional information on U3O8 Corp. is available on the Company's web site at www.u3o8corp.com or on SEDAR at www.sedar.com.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of U3O8 Corp., including, but not limited to, the impact of general economic conditions, industry conditions, the timing of laboratory results and preparation of technical reports, the actual results of independent scoping studies and subsequent metallurgical testing, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing and exploration risk. There is no assurance that the Berlin Project will add to U3O8 Corp's resource base in the short-term, or at all. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For information, please contact:
U3O8 Corp. (416) 868-1491
Nancy Chan-Palmateer Richard Spencer
Vice President, Investor Relations President & CEO
nancy@u3o8corp.com richard@u3o8corp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1 - Multiple Uranium-Bearing Structures in the Kurupung Batholith
Map of airborne magnetic data from the Kurupung area. The Kurupung Batholith lies between northwest trending bounding shear zones (black dashed lines). Cool colours (blue and green) represent rocks with poor magnetism while warm colours (pink, red, orange and yellow) represent magnetic rocks. Most uranium found by U3O8 Corp. to date lies within demagnetized faults (cool coloured areas).
The Aricheng West corridor (labeled in red) is located in the central part of an extensive area of weak magnetism in the Kurupung Batholith. White irregular areas show the footprints of uranium mineralization drilled by U3O8 Corp.
Figure 2 - Drill Hole Locations at Aricheng West
Plan view of the location of the 17 bore holes (results reported in this press release labeled in red) drilled on the eastern extension of the Aricheng West structure shown on a map of ground magnetic data (cool colours - cyan and blue - mark least magnetic areas while warmer colours - green, yellow and orange - mark areas of more intense magnetism). The collar position of each hole is shown as a dot and the extent of each inclined hole is shown as a black line. U3O8 grade (%) is shown as a histogram along the trace of each bore hole.