U3O8 Corp. Reports Results of Infill Drilling at Aricheng C in the Kurupung Project, Guyana
September 01 2011 - 5:45AM
Marketwired
U3O8 Corp. (TSX VENTURE: UWE), a Canadian-based company focused on
uranium exploration and resource expansion in South America,
reports results from the infill drilling program completed on the
Aricheng C area in the Kurupung Batholith in Guyana (Figure 1).
Resource estimation has started on data from Aricheng C, while
infill drilling is progressing well on the next mineralized zone -
Aricheng West - towards the goal of increasing the current National
Instrument 43-101 ("NI 43-101") uranium resource(1) on the Kurupung
Project.
"Infill drilling has successfully defined the shape and grade of
the uranium-bearing shoots at Aricheng C - the third area to
undergo resource estimation out of the 10 mineralized zones
identified in the Kurupung Project to date," said Dr. Richard
Spencer, U3O8 Corp's President and CEO. "The resource estimate on
Aricheng C is expected to be reported in early Q4 2011, to be
followed by the estimate for Aricheng West by year-end. Thereafter,
infill drilling will move to the Accori area with the aim of
contributing to sustained resource growth."
Table 1 - Assay Results for Aricheng C
Summary of significantly mineralized intercepts cut in the 24
bore holes (5,591 metres ("m")) completed in the infill drilling
program at Aricheng C (Figure 2).
Assay Results for Aricheng C
----------------------------------------------------------------------------
Intercept Grade
----------------------------------------------------------------------------
Estimated
True
Interval Thickness U3O8 U3O8
Bore Hole Number From (m) To (m) (m) (m) (%) (lbs/st)
----------------------------------------------------------------------------
ARC-011 108 113 5 4.7 0.079 1.6
---------------------------------------------------------
121 134 13 12.2 0.109 2.2
----------------------------------------------------------------------------
Including 127 134 7 6.6 0.137 2.7
----------------------------------------------------------------------------
ARC-012 26 31 5 4.7 0.036 0.7
---------------------------------------------------------
47 49 2 1.7 0.064 1.3
----------------------------------------------------------------------------
ARC-013 189 194 5 4.3 0.087 1.7
---------------------------------------------------------
218 221 3 2.6 0.057 1.1
----------------------------------------------------------------------------
ARC-014 83 85 2 1.5 0.070 1.4
----------------------------------------------------------------------------
ARC-015 18 32 14 13.9 0.073 1.5
---------------------------------------------------------
40 45 5 5.0 0.108 2.2
----------------------------------------------------------------------------
ARC-016 146 155 9 7.8 0.040 0.8
----------------------------------------------------------------------------
ARC-017 111 120 9 8.9 0.074 1.5
----------------------------------------------------------------------------
ARC-018 202 208 6 5.2 0.075 1.5
----------------------------------------------------------------------------
ARC-019 164 199 35 30.3 0.072 1.4
----------------------------------------------------------------------------
ARC-020 No significant intercepts
-------------------
ARC-021
-------------------
ARC-022
----------------------------------------------------------------------------
ARC-023 76 80 4 2.8 0.051 1.0
---------------------------------------------------------
146 148 2 1.4 0.113 2.3
---------------------------------------------------------
165 171 6 4.2 0.057 1.1
---------------------------------------------------------
177 180 3 2.1 0.067 1.3
----------------------------------------------------------------------------
ARC-024 243 259 16 10.3 0.121 2.4
----------------------------------------------------------------------------
Including 248 253 5 3.2 0.193 3.9
----------------------------------------------------------------------------
ARC-025 88 92 4 2.0 0.060 1.2
---------------------------------------------------------
170 175 5 2.4 0.089 1.8
----------------------------------------------------------------------------
ARC-026 47 53 6 4.2 0.080 1.6
----------------------------------------------------------------------------
ARC-027 No significant intercepts
----------------------------------------------------------------------------
ARC-028 289 293 4 2.3 0.081 1.6
----------------------------------------------------------------------------
ARC-029 No significant intercepts
----------------------------------------------------------------------------
ARC-030 239 253 14 10.7 0.115 2.3
----------------------------------------------------------------------------
ARC-031 No significant intercepts
-------------------
ARC-032
----------------------------------------------------------------------------
ARC-033 78 84 6 3.9 0.068 1.4
---------------------------------------------------------
111 116 5 3.2 0.060 1.2
----------------------------------------------------------------------------
ARC-034 170 179 9 5.2 0.168 3.4
---------------------------------------------------------
188 194 6 3.4 0.065 1.3
----------------------------------------------------------------------------
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 C structure with the aim of defining a
mineral resource. No mineral resource has been completed on the
Aricheng C structure to date, and it is uncertain if further
exploration will result in such target being delineated as a
mineral resource.
Aricheng C Structure
Aricheng C consists of a system of vein-breccias that trend
east-northeast and are inclined to the north-northwest. The
mineralized system corresponds with a zone of unusually weak
magnetism that extends beyond the area that has been drilled
(Figure 2). Most uranium found by U3O8 Corp. to date in the
Kurupung Project lies within such demagnetized areas. Exploration
will be undertaken to determine whether mineralization continues
along trend in this extensive corridor of weak magnetism that lies
to the east of Aricheng C.
Mineralization at Aricheng C extends from the near-surface
saprolite to at least 235m 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. Uranium minerals found
in hard-rock at depth have weathered to a 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 and uranium is
typically easily leached from torbernite. Metallurgical test work
is scheduled for samples of mineralized saprolite in order to
determine the extent to which uranium can be extracted from the
saprolite. The saprolite varies in thickness from 10m to 80m over
the Kurupung Project area, and averages 20m thick at Aricheng
C.
Quality Assurance & Quality Control
QA/QC procedures for Aricheng C 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 C 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 C or 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 - Multiple Uranium-Bearing Structures in the
Kurupung Batholith, please visit the following link:
http://media3.marketwire.com/docs/831u3084.pdf
To view Figure 2 - Drill Hole Locations at Aricheng C, please
visit the following link:
http://media3.marketwire.com/docs/831u3085.pdf
To view the photo associated with this release, please visit the
following link: http://media3.marketwire.com/docs/u3o8K8.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.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contacts: U3O8 Corp. Nancy Chan-Palmateer Vice President,
Investor Relations (416) 868-1491 nancy@u3o8corp.com U3O8 Corp.
Richard Spencer President & CEO (416) 868-1491
richard@u3o8corp.com
U3O8 (TSXV:UWE)
Historical Stock Chart
From Apr 2024 to May 2024
U3O8 (TSXV:UWE)
Historical Stock Chart
From May 2023 to May 2024
