U3O8 Corp. Reports 9.2m at 0.13% U3O8,

U3O8 Corp. (TSXV:UWE) reports grades of uranium, phosphate, vanadium, yttrium, rhenium, silver and molybdenum intersected in its first drilling of the Berlin project in Caldas Province, Colombia.

The press release is quoted as saying:

The Berlin Project is a sediment-hosted, multi-commodity prospect with a historic resource¹ of 12.9 million tonnes at an average grade of 0.13% U₃O₈ (38 million pounds U₃O₈) estimated on the southern 4.4 kilometres (“km”) of a 10.5km long mineralized trend. No estimate of other elements was reported from historic work. Trenching is underway to confirm historic data that indicates similar uranium grades occur in the northern 6km of the property. 

U3O8 Corp’s President and CEO, Dr. Richard Spencer says:

U3O8 Corp’s drilling has intersected similar uranium grades to historic data, but over greater widths and with an additional suite of valuable potential co-products. Given these results and the potential to define a high-value, multi-commodity resource in the near-term, a 10,000m drill program commenced immediately following the initial 1,500m drill program at Berlin.” “Samples from recent drilling are undergoing metallurgical test work to determine the extent to which various co-products can be recovered from the mineralized rock. Preliminary metallurgical results are expected in Q1 2011 as we progress towards positioning the Berlin Project for potential National Instrument 43-101 (“NI 43-101″) resource estimation in 2011.”

Click here to access the entire news release.