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U3O8 Corp. Intersects 36.5 Metres at 0.09% U3O8 in a New Target
Jul. 14, 2010 08:50PM PST
Company NewsU3O8 Corp. (CVE:UWE) reports the discovery of a ninth uranium-bearing structure, the Aricheng C target, in the Kurupung Batholith, Guyana.
Assay results from the scout drilling suggest that the Kurupung structures identified to date may contain a conceptual target of 10-15 million tonnes at a grade of 0.08% to 0.10% U3O8 (for an estimated 20-25 million pounds […]
U3O8 Corp. (TSXV:UWE) reports the discovery of a ninth uranium-bearing structure, the Aricheng C target, in the Kurupung Batholith, Guyana.
Assay results from the scout drilling suggest that the Kurupung structures identified to date may contain a conceptual target of 10-15 million tonnes at a grade of 0.08% to 0.10% U3O8 (for an estimated 20-25 million pounds U3O8) including the initial National Instrument 43-101 (“NI 43-101″) resource estimate of 5.8 million pounds U3O8 Indicated and 1.3 million pounds U3O8 Inferred(1).
Dr. Richard Spencer, U3O8 Corp’s President and CEO says:
“The discovery of Aricheng C marks a break-through in the exploration of the uranium-bearing fault system in the Kurupung,” said Dr. Richard Spencer, U3O8 Corp’s President and CEO. “We knew that uranium occurred within faults that could be identified through geophysics, but with Aricheng C, we now know which parts of the fault system are more likely to contain greater uranium content. Given the efficiency and success of our geophysical targeting, the scout drilling required to test those targets has been extended to December 2010 with the aim of further increasing the potential size of the Kurupung uranium district. We have drilled only a small part of the extensive fault network in the Kurupung and we believe that further drilling will add to our inventory of mineralized structures poised for resource estimation.”