Crosshair Energy Corporation (TSX:CXX,NYSE:CXZ) announced it has identified a new uranium mineralized zone at the Juniper Ridge East resource area.

As quoted in the press release:

Initial results indicate a thick zone of uranium mineralization ranging from 50 and 150 feet below surface, with grade thickness values ranging up to 3.65 %eU₃O₈xFt. The trend is open to the northwest and will be followed during subsequent drilling.

Crosshair’s President and CEO, Mark Ludwig said:

We are very pleased with the results from our 2012 drill program at Juniper Ridge. Discovering that the uranium mineralization we’ve been tracking extends into previously unexplored territory is a significant development. It’ll be one of our key priorities now to determine how far the trend continues toward Juniper Ridge West.

Click here to read the Crosshair Energy Corporation (TSX:CXX) press release.