NEWS RELEASE
June 8, 2007
Results and Interpretations of the Winter Drilling
Program on Uranium Star’s Quebec Sagar Property
Uranium Star Corp (URST) wishes to announce
results of its winter drilling program at its Sagar Property located in the
Labrador Trough area of northern Quebec.
The primary objective of the
program was to define the potential source area for the high grade Mistamisk
uranium-gold boulders that have been the focus of numerous exploration programs
in the past.
SIXTY REVERSE CIRCULAR (RC)
DRILL HOLES COMPLETED
OVER 8 SQUARE KILOMETERS
The winter program saw the
completion of 60 reverse circulation (RC) drill holes. In addition, seven
diamond drill holes were completed for a total of 1,070 meters. Lower than
projected productivity from one of the reverse circulation rigs necessitated
drilling on 500 meter centers as opposed to the designed 250 meter centers,
which resulted in significantly less coverage than the initially planned
program of 120 RC drill holes at 250 meter spacing. The program covered an area
of 8 km�. Only RC drilling on the Royal Montreal Grid was completed. Several
other primary target areas to the east require testing with the RC rig. (See www.uraniumstar.com - photo gallery)
ANOMALOUS DISPERSION TRAIN IDENTIFIED
During the summer and fall
programs of 2006, exploration efforts by Uranium Star identified a potential
source area for the Mistamisk Boulder Field in the vicinity of Eagle Lake,
located a few kilometers to the south of Mistamisk Lake. Very little
exploration has been conducted over this area in the past as there is poor
outcrop exposure due to a blanket of glacial overburden. A regional
reverse-circulation drill hole program was therefore implemented by Uranium Star
during the winter program to test for anomalous mineral dispersion trains
within the overlying sediments.
Samples from the RC drilling
were analyzed using ICPMS, heavy mineral concentrate analyses, and shortwave
infrared spectrometry (PIMA). Although no high-grade mineralization was
encountered in the RC drill holes, the analytical results delineated two
anomalous dispersion trains of gold and uranium vectoring down-ice to the
Mistamisk Boulder Field. Multiple other elements also proved to have coincident
anomalies with the uranium and gold including selenium, molybdenum and
tellurium. The wide spread drill
spacing makes anomaly
definition and orientation more difficult but additional infill drilling during
the summer program should confirm anomaly directions.
DIAMOND DRILL RESULTS
Initial diamond drilling of 5
holes on the Red Tail Grid, located on the east side of the property, targeted
coincident magnetic and radiometric anomalies. Work in 2006 had defined high
grade gold and uranium mineralization in outcrop and in boulders. The magnetic
anomalies were caused by disseminated magnetite in volcanic rocks. No
radioactive units were intersected so the source of the significantly altered
gold and uranium bearing rocks in the area has yet to be defined. It is
conceivable that interpreted graphitic horizons located immediately to the
south of the winter diamond drilling site may be proximal to the mineralized
source.
Two additional drill holes put
down several kilometers to the west that were to test an area where high grade
uranium boulders had previously been found were likely drilled down dip and
will have to be re-drilled during the summer. One of the holes was lost in
highly brecciated sediments and could not be completed.
SPRING 2007
EXPLORATION PREPARES FOR MAJOR
SUMMER/FALL DRILL PROGRAM
With the advent of improving
weather conditions, exploration is scheduled to resume at the Sagar property
within the week. A team of prospectors and soil samplers will mobilize to the
Sagar property on the 12th of June. A mobile XRF analyzer will be
utilized in the field to obtain real-time geochemical analyses. This will
enable Uranium Star to fine-tune exploration targeting in preparation for RC
and diamond drilling which is anticipated to commence on the 19th of June.
Areas that will be targeted
during the upcoming summer program include the Royal Montreal Grid which is
interpreted to host the mineralized source of the Mistamisk boulders, the Red
Tail Grid and the Bannock Lake grid. A major east west trending structure is
interpreted to underly the Royal Montreal Grid and it is thought that the
mineralized source of the Mistamisk boulders has a direct relationship to this
structure. The structure can be traced for over 10 kilometers along the width
of the property. Both the Bannock Lake and Red Tail target areas are also
associated with this major east west trending structure.
Due to spring break-up, Uranium
Star paused exploration activities at the Sagar property at the end of April.
This enabled Uranium Star to reanalyze the airborne geophysics for the Sagar
property, compile and make interpretations of all previous work on the
property, and await the analytical results for samples submitted for
geochemical analysis. All this data has subsequently been integrated to target
this summer’s exploration work over prospective areas that have seen
little exploration in the past.
The airborne geophysical survey
flown by past operators in 1995 has been re-processed and the more refined data
is assisting in zeroing in on potentially mineralized zones. The Mistamisk
boulder field displays coincident but stronger thorium anomalies than uranium.
This relationship will have to
be determined but it would appear that there is a significant component of
granitic rocks within the boulder field and it is known that these are somewhat
radioactive, caused mostly by thorium. It is quite conceivable that the
mineralized source of the boulders is proximal to a granitic source. Significant
hornfels alteration has also been noted associated with rocks in the Mistamisk
boulder field which also points to a granitic association.
SPECTACULAR MINERALIZATION OF THE MISTAMISK
BOULDER FIELD
The spectacular mineralization
found in the Mistamisk Boulder Field has fueled an ongoing drive to discover
its source since the early 1980's. The Mistamisk Boulder Field is approximately
500 X 250 meters in size and contains many radioactive gold bearing boulders.
In a Virginia Mines report, 70 boulders assayed an average of 64.9g/t Au and
1.3% U (with values up to 640 g/t Au and 4.11% U). Uranium Star is the direct
beneficiary of the extensive exploration efforts incurred by previous operators
including Virginia. These programs have shown that the Sagar Property is
characterized by an impressive amount of uranium, gold, copper and lead/zinc
mineralization of different styles and potential deposit models.
AIRFIELD STRIP COMPLETED TO BE COMPLETED IN MID JUNE
With the completion of the
ground airfield strip adjacent to the camp in mid June, we will be
significantly less dependent upon weather conditions and virtually have year
round access to the property. In addition to this benefit, we will be able to
deliver supplies and personnel to the property in a much more cost effective
and efficient manner.
QUALIFIED PERSON
Craig Scherba, PGeo, is the
qualified person on the project and supervised the preparation of the technical
information in this release.
ABOUT THE COMPANY
Uranium Star Corp. is a rapidly
emerging uranium exploration company with assets in Northern Quebec and
Arizona. Its shares are traded on the OTCBB under the symbol URST, as well as
the Frankfurt Exchange under the symbol YE5. The Company continues to focus on
high priority uranium property acquisition and exploration in order to
participate in meeting the significant and increasing demand for uranium as an
alternative energy source.
Except for historical
information contained herein, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties, including but
not limited to economic, competitive, governmental and technological factors
effecting the Company's operations, markets, products and prices and other
factors discussed in the Company's various filings with the Securities and
Exchange Commission.
FOR
FURTHER INFORMATION PLEASE CONTACT:
The Buick Group
Jon Ruby
1-877-748-0914
jruby@buickgroup.com
or
Uranium Star Corp.
Kirk McKinnon
President and CEO
(416) 364-4986
1-800-818-5442
or
Uranium Star Corp.
Richard Schler
Vice President and CFO
(416) 364-4986
1-800-818-5442
