Here is the latest news from Ucore Uranium:
UCORE URANIUM REPORTS 2.57 METRES GRADING 0.50% U3O8 FROM BOKAN MOUNTAIN
(Vancouver, BC, July 30, 2008) Ucore Uranium Inc. (TSX-V: UCU) is pleased to report the first assay results from the 2008 drilling program at Bokan Mountain.
Assay results for the first two holes at the I&L Zone have now been received, and are reported below:
|
Hole ID |
Dip |
From (m) |
To (m) |
Width (m) |
U3O8 (%) |
|
LM08-10 |
-45� |
36.27 |
46.94 |
10.67 |
0.23 |
|
including |
|
37.89 |
40.46 |
2.57 |
0.50 |
|
LM08-11 |
-63� |
21.82 |
30.80 |
8.98 |
0.07 |
|
including |
|
29.70 |
30.80 |
1.10 |
0.26 |
"These holes are located 100 meters apart along the strike of the I&L Zone," said Jim McKenzie, President & CEO of Ucore. "Hole 10 was drilled across the same steeply dipping vein structure intercepted in last year's first two holes, and Hole 11 serves to extend the mineralized zone 100 meters along strike to the southeast. Our immediate plan is to move one of our drill rigs away from the core of I&L zone for aggressive step-outs to the southeast, where radiometric anomalies suggest additional strike potential over two kilometers away. Permits from the USFS are now in hand to drill three more target areas, and on-going reconnaissance has identified new mineralized zones. Our exploration team has developed a geological model which will also be drill tested this year. We are awaiting multi-element assays, including rare earth analyses, from the first two holes. Drill results will continue to be announced as they are received and confirmed."
The I&L Zone is one of more than 30 known uranium occurrences at Bokan Mountain related to a peralkaline ring dike complex known as the Bokan Intrusive 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. These were among the highest average grades ever recorded by a U.S. based uranium mine. Most of the uranium mineralization in the area is characterized by multiple, steeply dipping, uraniferous quartz-pegmatite veins localized by radial fractures near the margin of the Complex. Variable concentrations of light and heavy rare earth elements (REE), zirconium, beryllium, tantalum, and niobium are associated with the uranium mineralization.
NI 43-101 Compliance
Diamond drill core was split on site, with half the core transported by commercial freight carriers to the Activation Laboratories analytical facility in Hamilton, Ontario, Canada. Blanks, standards, and duplicates were inserted into the sample train in the field and in the laboratory. Analyses were by delayed neutron count. 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 is estimated at 70-80% of apparent width. Harmen Keyser, P.Geol., Ucore's Vice President of Project Development and a qualified person in accordance with NI 43-101, has reviewed and approved this press release. A plan map showing drill hole locations will be provided shortly on Ucore's web site.
Background
Ucore Uranium Inc. is a junior exploration company focused on establishing uranium resources through exploration and property acquisition. With more than twenty projects, Ucore's primary focus is the Bokan Mountain uranium and rare earth element property in southeast Alaska. The Bokan Mountain project contains Alaska's only prior producing uranium mine.
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
For more information, contact
Dawn McKim
Investor Relations
Ucore Uranium Inc.
Tel: (604) 484-9402 ext. 225
www.ucoreuranium.com
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