Crosshair Plan 2012 Exploration Uranium Vanadium Program

Crosshair Energy Corporation (TSX:CXX,NYSE:CXZ) announced its 2012 exploration program for the CMB uranium/vanadium project set to begin on July 1, 2012.

As quoted in the company news:

The $2.2 million program of up to 3,500 metres (11,480 feet) of drilling will focus on the Two Time, Firestone, Blue Star and C zones. The goal of this year’s program is to expand the existing uranium and vanadium resources as well as test new uranium targets within the main property.

The CMB project consists of a total of 2,607 claims in 26 licences as the Company now owns a 100% interest in the Two Time Property, subject to a 2% Net Smelter Return Royalty payable to Silver Spruce Resources Inc. on their original 800 claim area. The Two Time mineralized zone currently contains an Indicated uranium resource estimate of 2.33 M pounds (1.82 M tonnes grading 0.058% U₃O₈) and an Inferred resource estimate of 3.73 M pounds of uranium (3.16 M tonnes grading 0.053% U₃O₈).

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