Ucore reports multiple zones up to 6.3% total rare earths

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Tue, Nov 17, 2009
Uranium Company News
Post by Melissa Pistilli, Uranium Reporter

Ucore Uranium Inc. reports initial assay results from its 2009 drill program at Bokan-Dotson Ridge.

The latest assay results, pertaining to the first 12 holes completed in the 2009 exploration season, support the Company’s model of multiple structurally-controlled rare earth mineralized systems, each spanning several kilometers in length and remaining open at depth.

Jim McKenzie, President and CEO of Ucore says:

“These assays reinforce the extensive historical research and documentation on the scale and grade of heavy rare earth mineralization in the Bokan area.”  “The U.S. Federal Bureau of Mines (Warner & Barker, USBM, OFR 33-1989) predicted a vast strike length, combined with a pronounced skew towards HREE’s across the entire mineralized system. The USBM estimated a non NI 43-101 compliant resource of 37.7 million tons in 13 mineralized zones grading 0.48% total rare earth oxides (including Y2O3), yielding a total indicated and inferred resource of 363 million pounds TREO. Our assays to date surpass those grades, as well as the diverse heavy rare earth mineralization which form the basis of that calculation. Our objective will now be to establish that the deposit is persistent to depth, which is a cornerstone of the USBM model. With this in mind, we’ve additionally conducted deep drilling in the 2009 season for precisely this purpose, the results of which will be released in our next round of assays due very shortly. Beyond this, our objective will be to move toward a NI 43-101 compliant Inferred Resource as quickly as possible.”

For complete details of this press release, click this link.

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