Here is the latest news from Ucore Uranium:
UCORE
URANIUM REPORTS HIGH GRADE RARE EARTH DRILL RESULTS FROM LOST POND
(Vancouver,
BC, July 16, 2008) Ucore
Uranium Inc. (TSX-V: UCU) is pleased
to report the results of a three hole drill program completed in 2007 at the U3
grid on the Lost Pond uranium property in western Newfoundland.
The
Lost Pond property straddles the Trans Canada Highway with forestry road access
to the U3 grid area. All three holes intersected similar mineralization with a
best intersection of 4.47% Rare Earth Oxide (REO) + Y2O3
over 5.64 m. The REO mineralization is outlined by two isolated magnetic highs
with a combined strike length of 250 meters coincident with a larger
radiometric high. The mineralization is associated with banded
magnetite-hematite-chlorite rich units interlayered with a
discrete altered ultramafic
intrusive unit. True widths of the zones are not known, however, core angles on
the alteration banding indicate the true widths should be approximately 75% of
the drill widths. Intersections from the three holes, which were spaced 50
meters apart, are shown below.
Hole #
|
From (m)
|
To (m)
|
Interval (m)
|
Grade
REO + Y2O3
|
07-09
|
61.68
|
66.71
|
5.03 m
|
4.37%
|
incl.
|
64.22
|
65.27
|
1.05 m
|
11.02%
|
07-10
|
63.55
|
69.19
|
5.64 m
|
4.47%
|
incl.
|
65.97
|
67.97
|
2.00 m
|
8.19%
|
and
|
75.96
|
77.46
|
1.50 m
|
4.95%
|
07-11
|
21.10
|
22.10
|
1.00 m
|
2.49%
|
and
|
42.67
|
44.17
|
1.50 m
|
2.01%
|
and
|
62.50
|
64.00
|
1.50 m
|
1.12%
|
The
Rare Earth Elements (REE) include a total of 15 elements in the Lanthanide
series of elements plus Yttrium. Grades are usually reported as calculated Rare
Earth Oxides (REO). Rare Earths are used predominately in the manufacture of
permanent magnets, metal alloys, batteries catalysts, and glass. Growth in
demand over the past four years has exceeded 10% per year and growth is
expected to remain strong at around 10% over the next few years.
The
U3 intersections listed above include the analysis of all the REE, however, the
lighter elements predominate. The most abundant REE, within these zones,
include: Cerium (43.6% to 45.9%), Lanthanum (22.6% to 25.0%), Neodymium (17.2%
to 19.7%) and Praseodymium (5.0% to 5.5%).
Jim
McKenzie, Ucore?s
President and CEO, comments that, ?These highly encouraging drill intercepts
were identified as part of our ongoing uranium exploration efforts at Lost
Pond. The high grade nature of the REO mineralization, multiple zones,
proximity to infrastructure, and the well defined nature of the geophysical
anomaly will allow for straight forward evaluation.?
Wayne
Reid, B.Sc., P.Geo.,
a technical advisor to Ucore, is the qualified person who is responsible for the
technical accuracy of this news release. All analyses were performed by
Activation Laboratories Ltd. of Ancaster, Ontario using industry accepted
procedures.
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 100% owned Bokan
Mountain uranium and rare earth element property in Alaska.
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
Tel: (604) 484-9402
dmckim@ucoreuranium.com
www.ucoreuranium.com