Corp?s drilling confirms consistent uranium,
vanadium, phosphate & rare earth mineralization extending over 2.5km in the
Berlin Project, Colombia
Trenching shows mineralization continues northward
beyond the historic resource area
TORONTO, Ontario ? May 25, 2011 ? U3O8 Corp. (TSX Venture: UWE) a
Canadian-based company focused on exploration and resource expansion of uranium
and associated commodities in South America, reports assay results from a
further four bore holes and three trenches completed in the Berlin Project in
Caldas Province, Colombia. The Berlin Project is a sediment-hosted,
multi-commodity prospect with a historic resource1 of 12.9 million tonnes at an average grade of 0.13% U3O8
(38 million pounds (?mlb?) U3O8)
estimated on the southernmost 4.4 kilometres (?km?) of a 10.5km long mineralized trend. This
historic work did not include estimates for commodities other than uranium.
?U3O8 Corp?s exploration drilling has now confirmed consistent,
multi-commodity mineralization in the southernmost 2.5km of the Berlin trend,? said Dr. Richard Spencer. ?Trenching
has also shown that the mineralization occurs in the northern part of the
trend, corroborating previous exploration for the first time, and highlighting
the upside of the project beyond the historic resource. Trenching will continue
along the whole 10.5km trend, followed by drilling. In the southern
portion, we are now focused on infill drilling with the aim of converting part
of the historic resource into an initial National Instrument 43-101 (?NI 43-101?) uranium resource in late 2011.?
Dr. Spencer continued, ?Metallurgical testing on drill core samples from
Berlin is ongoing to define a means of extracting the various metals and
phosphate, although the work is progressing more slowly than anticipated and
results are now expected in the latter half of the year. A bulk sample
has also recently been sent to Australian Nuclear Science and Technology
Organization (ANSTO) for further work. ANSTO has extensive experience
with similar types of ore ? it
established the process to extract uranium and rare earths from phosphate,
generating co-product phosphoric acid, at the Nolans
Bore deposit in Australia. The Berlin Project shares many characteristics
with the Nolans Bore deposit.?
Table 1 ? Assay Results from Drilling in the Southern Part of the
Summary results for the four bore holes drilled from platform P6 in the
southern part of the Berlin Project2 (Figures 1 and 2).
Table 2 ? Assay Results from
Trenches in the Northern Part of the Berlin Project
Summary results for the three trenches excavated in the northern part of
the Berlin Project2 (Figure 1).
2 Assay results ? lbs/st is an abbreviation for
pounds per short ton. 1 short ton = 2,000lbs or 0.907 metric tonnes. Potential quantity and grade are conceptual in
nature. There has been insufficient exploration to define a mineral
resource at the Berlin Project to date and it is uncertain if further
exploration will result in the target being delineated as a mineral
The mineralized unit at Berlin is a sedimentary layer that lies beneath an organic-rich, black shale that is Cretaceous in age
(Figure 2). The mineralized layer changes in composition from
fine-grained sandstone that transitions laterally
through carbonate-bearing siltstone to carbonate rock. Mineralization
lies at the top of this variable unit..
Microscopic study of drill core samples shows that the majority of the
phosphate occurs as fine, crystalline fluorapatite (Ca5(PO4)F) masses in the sandstone,
carbonate-bearing siltstone and carbonate rock. Most of the metals of
potentially economic interest occur as phosphate minerals, or are associated
with the fluorapatite.
and Quality Control (?QAQC?)
incorporated by reference to the press release dated February 24, 2011,
available on U3O8 Corp?s web
site at www.u3o8corp.com and on SEDAR at www.sedar.com.
Spencer, President & CEO of U3O8 Corp., a
Qualified Person within the definition of that term in NI 43-101 of the
Canadian Securities Administrators, has supervised the preparation of, and
verified the technical information in this release.
(1) The Berlin resource estimate is
historical and is reported in Castano, R. (1981), Calcul provisoire des reserves geologiques de Berlin, sur la
base des resultants des sondages, unpublished Minatome report, 15p. There has been insufficient
exploration work completed to verify the historic estimate. U3O8 Corp. is
not treating the historical estimate as current mineral resources and it should
not be relied upon or considered a NI 43-101 compliant resource. The majority
of the prior exploration on the Berlin Project was conducted by the French
company, Minatome, between 1978 and 1981 during which
time 11 widely-spaced bore holes were drilled, 20 trenches were dug and three adits were excavated. The historic estimate was
generated on the southern 4.4km of a 10.5km long syncline (Figure 1). Historic
data from trenching shows that anomalous grades of uranium continue along strike
to the north.
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
to significant historic resources in Colombia.
For further information on U3O8 Corp?s
Berlin Project, refer to the technical report entitled ?Review of Historic
Exploration Data from the Unaniferous Black Shales of the Berlin Project and Chaparral Concession,
Colombia: A guide to future exploration? prepared by Richard Spencer and
Richard Cleath dated March 23, 2010 and available at
www.sedar.com. Additional information on U3O8 Corp. is available on the company?s web site at
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, 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:
President & CEO
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 ? Map
Shows the Location of Trenches and Drill Platforms in the Berlin Project
Geological map of
the 10.5km long syncline in Cretaceous strata (green shades) in the Berlin
Project. The brown coloured areas show the
large extent of the alaskite batholith
on the west, and the location of the smaller batholith
on the east flank of the syncline at Berlin. The alaskite
is believed to be the source of the mineralization in the sedimentary units at
Berlin. The red circle marks the location of platform P6, and the red
triangles mark the location of the trenches from which assay results are
reported on in this press release.
Figure 2 ? Cross Section of the Berlin Project at
Drill Platform P6
This figure shows
the cross section through the fold in the Berlin Project at the location of
platform P6. The mineralized unit is marked in yellow. This cross
section also shows planned drilling from platforms P33 and P34 that should
fully delineate the mineralization across the fold.