U3O8 Corp. Reports Significant Grades of Uranium

U3O8 Corp reports on uranium exploration and resource expansion in South America.

The Berlin Project, recently acquired from Mega Uranium Ltd., is a phosphatic shale uranium prospect with a historic resource¹ of 12.9 million tonnes at a grade of 0.13% U₃O₈ (38 million pounds U₃O₈) with associated vanadium, molybdenum and phosphate.

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

“U3O8 Corp. is aggressively moving forward on the Berlin Project – an exciting multi-commodity opportunity that could add significantly to our resource base in the short-term. We are pleased that the first assay results from our trenching program show similar grades to historic assays, and constitute a first step in verifying the historic resource.”  “The historic resource at Berlin was defined in the southern 4.4 kilometres of a 10.5 kilometre long mineralized trend. Our trenching has commenced in this southern area and will extend to the north to confirm grade continuity over the whole strike length of the uranium-bearing unit. Drilling is planned for the third quarter this year, with the objective of verifying results recorded in historic drilling. Fresh core will then be used for metallurgical test work to determine the approximate recovery rates of the different commodities from the mineralized rock. We aim to be in a position to undertake a National Instrument 43-101 compliant resource estimate in 2011.”

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