Crosshair Anchors 4.5 Kilometer Uranium Mineralization Corridor
February 26 2008 - 8:15AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (AMEX: CXZ) is pleased to announce
that strong uranium mineralization has been intersected in several
drill holes at Armstrong on its Central Mineral Belt (CMB) Uranium
Property. Armstrong anchors the southern end of the 4.5 kilometer
(km) long uranium mineralization corridor, which includes the C
Zone and Area 1.
As a result of this exciting new discovery, a second drill has
been mobilized to Armstrong in order to continue to define the
mineralized zones, which remain open in all directions.
"Hitting uranium mineralization at Armstrong really solidifies
the 4.5 km strike corridor. In addition to having an expanding C
Zone resource at the northern end of the corridor, which has a
current mineralized strike length of 1.5 km, we also have a
developing zone in the middle at Area 1 (with a 600 m strike
length) and now also a southern anchor with Armstrong, which is 1.1
km from Area 1," says Paul Hosford, President and COO of the
Company. "The discovery of new zones of strong uranium
mineralization at Armstrong is an important milestone for the
Company."
A map showing the uranium mineralized corridor is posted on the
Company website at:
http://www.crosshairexploration.com/s/Armstrong.asp
All eight holes drilled in this zone at Armstrong intersected
uranium mineralization. Highlights include:
----------------------------------------------------------
Hole # From (m) To (m) Length (m) % eU3O8(i) % U3O8
----------------------------------------------------------
ML-AR-04 270.0 277.2 7.2 0.07 0.07
----------------------------------------------------------
including 270.9 273.3 2.4 0.11 0.10
----------------------------------------------------------
ML-AR-09 156.0 161.4 5.4 0.07 pending
----------------------------------------------------------
including 158.5 161.0 2.5 0.10 pending
----------------------------------------------------------
ML-AR-14 96.5 100.0 3.5 0.10 pending
----------------------------------------------------------
and 176.5 178.5 2.0 0.09 pending
----------------------------------------------------------
Full DNC (delayed neutron count) assay results are expected in
about six weeks.
(i) These grades are reported as equivalent uranium (eU3O8) as
surveyed with a downhole radiometric probe that measures the amount
of gamma radiation in the immediately adjacent rock, an indirect
measure of the presence of uranium. The survey was carried out by
Corwin Northcott, P.Geo., Geophysicist for the Company using a
2PGA-1000 Poly-Gamma probe with a MGXII logger console and
motorized winch. The down hole logging equipment was manufactured
by Mount Sopris Instruments and calibrated at the company's Grand
Junction, Colorado facilities. Calibration was performed on August
23rd, 2007 in test pits with varying grades. Quality checks are
preformed on the probes prior to surveying using uranium test
sources containing a specified grade of uranium.
Probe highlights of all completed Armstrong holes along with
current drill maps are posted on the Company website at:
http://www.crosshairexploration.com/s/Armstrong.asp
About Crosshair
Crosshair is a dominant player in the exploration for uranium in
the Central Mineral Belt of Labrador-Canada's most promising
emerging uranium district. The 755 sq km Central Mineral Belt
Uranium Project is host to potentially three types of uranium
mineralization - Iron Oxide Copper Gold (IOCG - Olympic Dam),
structurally controlled/shear zone and unconformity types of
mineralization.
The Company's radiometric probe work on the CMB Uranium Project
is supervised by Corwin Northcott, P.Geo., a member of the
Professional Engineers and Geoscientists of Newfoundland and
Labrador, the Geophysicist of the Company and a Qualified Person as
defined in NI 43-101. Mr. Northcott has verified that the probe
results presented above have been accurately summarized. The
Company's exploration work on the CMB Uranium Project is supervised
by J. Wayne Pickett, P.Geo., a member of the Professional Engineers
and Geoscientists of Newfoundland and Labrador, the Vice President
Exploration of the Company and a Qualified Person as defined in NI
43-101. Mr. Pickett has verified that the assay results presented
above have been accurately summarized from the official assay
certificates provided to the Company. A QA/QC program has been
implemented consisting of standard, blank and duplicate
samples.
Split drill core samples are being sent to Activation
Laboratories in Ancaster, ON for analyses. Uranium analysis is
performed by the delayed neutron counting (DNC) method, while
multi-element analysis is performed using Inductively Coupled
Plasma Mass Spectrometry (ICP-MS). Samples that exceed the upper
limit for uranium are re-assayed using X-ray fluorescence
(XRF).
For more information on the Company and its properties, please
visit the website at www.crosshairexploration.com.
ON BEHALF OF THE BOARD
Mark Morabito, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release may involve
forward-looking statements. Forward-looking statements are
statements that relate to future, not past, events. In this
context, forward-looking statements often address a company's
expected future business and financial performance, and often
contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other
similar expressions. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or
other future events, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the
following risks: the risks associated with outstanding litigation,
if any; risks associated with project development; the need for
additional financing; operational risks associated with mining and
mineral processing; fluctuations in uranium, gold and other
commodity prices; title matters; environmental liability claims and
insurance; reliance on key personnel; the potential for conflicts
of interest among certain officers, directors or promoters with
certain other projects; the absence of dividends; competition;
dilution; the volatility of our common share price and volume; and
tax consequences to U.S. Shareholders. Forward-looking statements
are made based on management's beliefs, estimates and opinions on
the date that statements are made and the Company undertakes no
obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change.
Investors are cautioned against attributing undue certainty to
forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of the content of this News Release.
Contacts: Crosshair Exploration & Mining Corp. - Vancouver
Dan McIntyre (604) 681-8030 (604) 681-8039 (FAX) Email:
dan@crosshairexploration.com Website:
www.crosshairexploration.com
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