Ucore Uranium Reports 1.83 Metres Grading 1.50% U3O8 from Bokan Mountain
Date: September 9, 2008
(Vancouver, BC, September 9, 2008) Ucore Uranium Inc. (TSX-V: UCU) is pleased to provide updated drill program assay results from the I&L Zone drill program, with significant results reported as follows:
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|
Dip
|
From (m)
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To (m)
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Width (m)
|
U3O8 (%)
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|
LM08-20
|
-45°
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34.44
|
40.26
|
5.82
|
0.06
|
|
LM08-21
|
-45°
|
13.72
|
15.74
|
2.02
|
0.12
|
|
LM08-23
|
-65°
|
20.61
|
21.17
|
0.56
|
0.13
|
|
and
|
|
31.66
|
35.20
|
3.54
|
0.14
|
|
including
|
|
34.40
|
35.20
|
0.80
|
0.26
|
|
LM08-25
|
-65°
|
31.45
|
39.01
|
7.56
|
0.59
|
|
including
|
|
36.58
|
38.41
|
1.83
|
1.50
|
|
LM08-26 - 46
|
|
|
|
|
pending
|
“These are preliminary results from holes at the I&L Zone for which uranium assays have been received so far,” said Jim McKenzie, President & CEO of Ucore. “Combined with previously announced results, our data show that uranium grades vary along strike and at depth. Drilling at the I&L zone has shown that the higher grade uranium mineralization is contained within at least two highly mineralized shoots comprising an almost consistently radioactive vein-like structure. This structure remains open at depth and along strike to the southeast. In addition to our comprehensive drill program at the I&L, three additional zones are being tested. Multiple samples which have been analyzed for rare earth and other elements have returned significant overlimit values, and we await final results for confirmation and release.”
The I&L Zone is one of more than 30 known uranium / rare earth element (“REE”) occurrences at Bokan Mountain related to a peralkaline ring dike complex known as the Bokan Intrusive Complex. The Ross Adams Zone, located 450 metres southwest of I&L, produced 1.3 million pounds of U3O8 at an average grade of 0.76% between 1957 and 1971. These were among the highest average grades ever recorded by a U.S. based uranium mine. Most of the uranium mineralization in the area is characterized by multiple, steeply dipping, uraniferous quartz-pegmatite veins localized by radial fractures near the margin of the Complex. Variable concentrations of light and heavy REE, zirconium, beryllium, tantalum, and niobium are associated with the uranium mineralization.
NI 43-101 Compliance
Diamond drill core was split on site, with half the core transported by commercial freight carriers to the Activation Laboratories analytical facility in Hamilton, Ontario, Canada. Blanks, standards, and duplicates were inserted into the sample train in the field and in the laboratory. Analyses were by delayed neutron activation count with checks by X-ray fluorescence. U3O8 values are length-weighted averages from multiple samples converted from ppm U reported by the laboratory using a ratio of 1 part U = 1.17 parts U3O8. Insufficient structural information is available to make a conclusive statement on the relationship between true width and core intercept; however, true width is estimated at 65-80% of apparent width. Harmen Keyser, P.Geol., Ucore’s Vice President of Project Development and a qualified person in accordance with NI 43-101, has reviewed and approved the technical content of this press release. A plan map showing drill hole locations has been posted on Ucore’s web site.
Other News
Keith Abriel, CA, has accepted the position of Chief Financial Officer and Corporate Secretary with Ucore. Mr. Abriel brings a wealth of experience in minerals exploration and other sectors, most recently serving in a CFO capacity for Linear Gold Corp. (TSX:LRR). He replaces James Harris, MBA, who is thanked for his significant contributions to Ucore’s operations.
Background
Ucore Uranium Inc. is a junior exploration company focused on establishing uranium resources through exploration and property acquisition. With more than twenty projects, Ucore’s primary focus is the Bokan Mountain uranium and rare earth element property in southeast Alaska. The Bokan Mountain project contains Alaska’s only prior producing uranium mine. For more information, please visit our website: www.ucoreuranium.com
This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that Ucore expects, are forward-looking statements. Although Ucore believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
For more information, contact
Ms. Dawn McKim
Investor Relations
Tel: 604 484 9402
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