U3O8 Corp's Infill Drilling Intersects 24m at 0.09% U3O8 at Aricheng West in the Kurupung Project, Guyana
10 11월 2011 - 8:45PM
Marketwired
U3O8 Corp. (TSX VENTURE:UWE), a Canadian-based company focused on
uranium exploration and resource expansion in South America,
reports results from infill drilling from the one kilometre ("km")
long Aricheng West structure in the Kurupung Batholith in Guyana
(Figure 1). These drill results are being incorporated into a
National Instrument 43-101 ("NI 43-101") resource estimate
presently underway, with the aim of increasing the current uranium
resource(1) in the Kurupung Project.
"Infill drilling is confirming that the Aricheng West corridor
is one of the most consistently mineralized areas of the Kurupung
Project, and we expect these results to contribute to an updated
resource estimate for completion at the end of 2011," said Dr.
Richard Spencer, U3O8 Corp's President and CEO. "As with many of
the structures in the Kurupung, uranium mineralization at Aricheng
West starts in the near-surface clay layer that offers an
opportunity for low-cost mining. Furthermore, the uranium mineral
found in the soft clay is typically easily extracted and tests are
underway to confirm this from material from Aricheng West."
Table 1 - Assay Results for Aricheng West
Summary of significantly mineralized intercepts cut in the 19
bore holes completed in the infill drilling program at Aricheng
West (Figure 2).
----------------------------------------------------------------------------
Intercept Grade
--------------------------------------------------------------
Estimated
True
Bore Hole Interval Thickness U3O8
Number From (m) To (m) (m) (m) U3O8(%) (lb/st)
----------------------------------------------------------------------------
ARW-036 121 133 12 7.7 0.048 0.97
----------------------------------------------------------------------------
ARW-037 19 33 14 11.5 0.041 0.81
----------------------------------------------------------------------------
ARW-038 89 91 2 1.5 0.101 2.02
----------------------------------------------------------------------------
ARW-039 339 370 31 10.6 0.072 1.45
----------------------------------------------------------------------------
ARW-040 268 276 8 6.1 0.083 1.65
----------------------------------------------------------------------------
ARW-041 237 247 10 7.1 0.072 1.44
--------------------------------------------------------------
255 302 47 33.2 0.040 0.80
----------------------------------------------------------------------------
ARW-042 173 178 5 4.8 0.111 2.23
--------------------------------------------------------------
367 374 8 7.7 0.055 1.11
----------------------------------------------------------------------------
ARW-043 180 211 32 26.2 0.075 1.51
----------------------------------------------------------------------------
Including 203 210 7 5.7 0.144 2.87
----------------------------------------------------------------------------
218 222 4 3.3 0.062 1.23
----------------------------------------------------------------------------
ARW-044 112 115 3 2.3 0.070 1.40
--------------------------------------------------------------
168 171 3 2.3 0.060 1.21
----------------------------------------------------------------------------
ARW-045 No Significant Results 0.00
----------------------------------------------------------------------------
ARW-047 No Significant Results 0.00
----------------------------------------------------------------------------
ARW-049 166 171 5 2.5 0.042 0.84
----------------------------------------------------------------------------
ARW-050 121 128 7 3.5 0.042 0.85
--------------------------------------------------------------
133 137 4 2.0 0.078 1.56
----------------------------------------------------------------------------
ARW-051 87 91 4 2.6 0.038 0.77
----------------------------------------------------------------------------
ARW-052 77 79 2 1.5 0.124 2.49
--------------------------------------------------------------
94 98 4 3.1 0.060 1.21
--------------------------------------------------------------
117 121 4 3.1 0.056 1.11
--------------------------------------------------------------
143 176 33 25.3 0.055 1.11
----------------------------------------------------------------------------
ARW-053 78 82 4 2.3 0.052 1.03
--------------------------------------------------------------
157 189 32 18.4 0.104 2.08
----------------------------------------------------------------------------
ARW-054 34 81 47 23.5 0.094 1.89
--------------------------------------------------------------
56 62 6 3.0 0.154 3.09
--------------------------------------------------------------
90 98 8 4.0 0.085 1.69
----------------------------------------------------------------------------
ARW-056 69 83 14 9.0 0.049 0.98
----------------------------------------------------------------------------
ARW-057 19 30 11 7.1 0.038 0.76
--------------------------------------------------------------
57 80 23 14.8 0.047 0.95
--------------------------------------------------------------
57 65 8 5.1 0.058 1.15
----------------------------------------------------------------------------
Note: 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 based on drill results that
define the approximate length, thickness, depth and grade of the
target area, but are considered conceptual in nature. The
exploration 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. Most
uranium found by U3O8 Corp. to date in the Kurupung lies within
such demagnetized areas.
Mineralization at Aricheng West starts 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 uranium
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 and Argentina to significant
historic resources in Colombia.
(1) Scout drilling results suggest that the ten Kurupung
structures identified to date may contain a conceptual target of
13-18 million tonnes at a grade of 0.08% to 0.10% U3O8 (estimated
30 to 35mlb U3O8) including the initial NI 43-101 resource
estimate. The initial NI 43-101 resource estimate of 5.8mlb
Indicated at an average grade of 0.10% (2.0 lbs/st) U3O8 and 1.3mlb
Inferred at an average grade of 0.09% (1.9 lbs/st) U3O8 has been
reported on the Aricheng North and Aricheng South structures in the
Kurupung Batholith. Refer to the technical report dated January 14,
2009 titled "A Technical Review of the Aricheng North and Aricheng
South Uranium Deposits in Western Guyana for U3O8 Corp. and
Prometheus Resources (Guyana) Inc.", available on U3O8 Corp's web
site at www.u3o8corp.com and 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,
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 mineralization encountered at
Aricheng West will add to U3O8 Corp's resource base. 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.
To view Figure 1, visit the following link:
http://media3.marketwire.com/docs/Uranium.pdf.
To view Figure 2, visit the following link:
http://media3.marketwire.com/docs/Archeng.pdf.
To view the photo associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/Kurupung.jpg.
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.
Contacts: U3O8 Corp. Nancy Chan-Palmateer Vice President,
Investor Relations (416) 868-1491nancy@u3o8corp.com U3O8 Corp.
Richard Spencer President & CEO (416)
868-1491richard@u3o8corp.comwww.u3o8corp.com
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