(
Vancouver , B.C.) Ucore Uranium Inc. (TSX-V: UCU) is pleased to report additional assay results from the Bokan
Mountain uranium project in southeast Alaska
.
A total of nine drill holes spanning 422 meters were
completed at the I&L Zone in 2007. Assay results from these holes have been
reported in the order of their receipt from the assay laboratory, in order to
ensure timely news. Partial results for Hole 1 and Hole 2 have already been
released, dated November 1 and October 25, 2007, respectively.
Ucore
now reports additional results for Hole 2 and complete results for Holes 3
through 9.� Highlights of these new
assays include 0.42% U3O8 over 15.23 meters, 0.95% U3O8
over 5.31 meters,
and 1.28% U3O8 over 1.2 meters.
Significant
results are listed below:
Hole ID
|
Dip
|
From (m)
|
To (m)
|
Width (m)
|
U3O8
(%)
|
LM07-01*
|
-80�
|
|
|
pending
|
pending
|
LM07-02**
|
-80�
|
13.13
|
59.85
|
46.72
|
0.16
|
including
|
|
15.13
|
22.86
|
7.73
|
0.37
|
and
|
|
50.19
|
58.37
|
8.18
|
0.34
|
LM07-03
|
-34�
|
7.45
|
8.45
|
1.00
|
0.43
|
LM07-04
|
-60�
|
10.29
|
15.40
|
5.11
|
0.46
|
including
|
|
11.60
|
12.80
|
1.20
|
1.28
|
LM07-05
|
-80�
|
18.42
|
33.65
|
15.23
|
0.42
|
including
|
|
18.42
|
23.73
|
5.31
|
0.95
|
LM07-06
|
-42�
|
25.43
|
30.10
|
4.67
|
0.07
|
LM07-07
|
-56�
|
28.00
|
36.40
|
8.40
|
0.12
|
including
|
|
30.65
|
31.60
|
0.95
|
0.35
|
LM07-08
|
-45�
|
4.00
|
7.20
|
3.20
|
0.12
|
LM07-09
|
-75�
|
7.62
|
12.80
|
5.18
|
0.18
|
* Partial results for Hole
1 have been previously reported; additional assays pending.
** Partial results for Hole 2 have been previously reported; this table
incorporates additional assays.
Reported widths are drill intercepts; true width will be less.
Results for a partial section of
Hole 1, and a schedule of surface channel samples from the greater I&L
Zone, remain outstanding from the assay facility, ALS Chemex. A map showing
hole locations within the I&L Zone of the Bokan Mountain Intrusive Complex
is available via Ucore’s website: www.ucoreuranium.com.
“With just a limited number
of startup drill holes in 2007, our success rate at Bokan is already extremely
high,” said Jim McKenzie , President
& CEO of Ucore. “This is a testament to the highly prospective nature
of the area. The promising uranium grades identified in Holes 1 and 2 have now
been reinforced with additional high grade intercepts in Holes 3, 4, and 5.
Collectively, the 2007 drill program has established the I&L area as a
superior exploration target for the continuation of drilling. With current
assay results correlating very well with prior drill information, we have an
increasing level of confidence in the historical data at Bokan. We will be
aggressively drilling the I&L Zone in 2008 with in-fill and step-out holes
to explore the high grade mineralization at depth and along strike. We have
also applied for permits to drill other prospects.”
NI 43-101 Compliance
The I&L Zone is one
of more than 30 known uranium occurrences on the Bokan Mountain property
related to a peralkaline ring dike complex known as the Bokan Intrusive
Complex.� Mineralization at I&L is
characterized by multiple, southeast-trending, steeply dipping, uraniferous
quartz-pegmatite veins near the margin of the Complex.� The Ross Adams Zone, located 450 meters southwest of
I&L, produced 1.3 million pounds of U3O8 at an
average grade of 0.76% between 1958 and 1971.
Diamond drill core was sawn on
site, with half the core transported by commercial freight carriers to the ALS
Chemex analytical facility in North
Vancouver, BC,��
Blanks, standards, and duplicates were inserted into the sample train in
the field and in the laboratory.�
Analyses were by ICP-mass spectrometer following a lithium metaborate
fusion.� U3O8 values
are length-weighted averages from multiple samples converted from ppm U
reported by the laboratory using a ratio of 1 part U = 1.17 parts U3O8.� Insufficient structural information is
available to make a conclusive statement on the relationship between true width
and core intercept; however, true width will be less than apparent width.� Holes 1 and 2 were designed to twin prior
-80� holes completed by Newmont parallel to steeply dipping vein-type
structures, and the intercepts do not accurately reflect true width.�
John McKenney, CPG, a qualified
person in accordance with NI 43-101 and the Bokan Mountain Project Manager for
Ucore’s wholly owned subsidiary Landmark Alaska Limited Partnership, has
reviewed the results of holes 2 to 7 contained in this press release.� �Roger
Hulstein , P.Geo, Ucore’s Vice President of Exploration, has reviewed the
results of holes 8 and 9.
Background
Ucore Uranium Inc. is a
junior exploration company focused on establishing uranium resources through
exploration and property acquisition. With more than twenty active projects,
Ucore’s primary focus is the Bokan Mountain
uranium and rare earth element property in Alaska
. The Bokan Mountain
project contains Alaska
’s only prior producing uranium mine.�
For more information, please visit our website: www.ucoreuranium.com
This press release includes certain
statements that may be deemed "forward-looking statements." All
statements in this release, other than statements of historical facts, that
address future exploration drilling, exploration activities and events or
developments that Ucore expects, are forward-looking statements. Although Ucore
believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those
in forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include exploitation
and exploration successes, continued availability of financing, and general
economic, market or business conditions.
The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this press release.
Brian MacEachen
Director
(902) 482-1240
For more information, contact
Jenn Gillespie
Investor Relations
Cel: ���� (902) 441-4004
Email: jgillespie@ucoreuranium.com