Ucore Uranium Reports High Grade Rare Earth Drill Results on Trend between I&L and Geoduck Zones
Date: February 19, 2009
(Halifax, N.S., February 19, 2009) Ucore Uranium Inc. (TSX-V: UCU) is pleased to announce additional high gradeRare Earth Element (REE) mineralization intersected by in-fill drilling between the recently announced Geoduck discovery (released Feb 5, 2009) and the I&L Zone to the northwest. The connecting structural trend, known as the Dotson Zone, strikes southeast from the combined I&L Zone and Ross Adams Mine to include the Geoduck Zone, a total strike length of more than six kilometers. The new Dotson Zone data, combined with the Geoduck discovery and the I&L Zone, suggest a significant zone of REE mineralization.
A summary of assay results from the 2008 drill program at the Dotson Zone are listed below:
|
Hole No.
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From m
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To m
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Width m
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Y ppm
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LREE ppm
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HREE ppm
|
TREE lb/ton
|
|
LM08-33
|
26.55
|
28.30
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1.75
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281
|
1419
|
204
|
3.8
|
|
LM08-36
|
20.93
|
24.44
|
3.51
|
1797
|
2529
|
1065
|
10.8
|
|
LM08-37
|
30.30
|
30.94
|
0.64
|
3033
|
6716
|
1787
|
23.1
|
|
and
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36.34
|
38.53
|
2.19
|
2505
|
5376
|
1657
|
19.1
|
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and
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42.13
|
43.28
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1.15
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1864
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3664
|
1055
|
13.2
|
|
LM08-38
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37.20
|
38.72
|
1.52
|
972
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902
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489
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4.7
|
LREE = Light rare earth elements as metal: La, Ce, Pr, Nd, and Sm
HREE = Heavy rare earth elements as metal: Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, and Lu
TREE = Y + LREE + HREE
“The new assay results from the Dotson Zone are exciting, as they substantially increase the mineral potential of the Bokan Mountain mineral prospect” said Jim McKenzie, President & CEO of Ucore. “Taken together, the three areas examined by Ucore’s 2008 drill program - the Geoduck, Dotson, and I&L zones - along with the already established Ross Adams deposit, now represent a total prospective strike length in excess of six kilometers. According to 1989 U.S. Bureau of Mines estimates, the greater Bokan area houses one of the largest combined heavy and light REE deposits in the U.S. With expanding demand and increasingly restricted rare earth resources worldwide, Bokan’s unique mix of the relatively scarce high-value heavy REE’s couldn’t be better. Further, the project’s location provides ideal access to the world’s leading consumers of REE, a climate suitable for working year-round, and secure mineral title in an area designated by the U.S. Forest Service for sustainable resource development.
Ucore’s 2008 Dotson Zone drill program comprised a series of holes drilled at priority targets along the structural trend of the Dotson Shear. The holes included LM08-33 (-54.2°, total length of 46.03 meters), LM08-36 (a -45°, total length of 49.07 meters), LM08-37 (a -65°, total length of 55.17 meters), and LM08-38 (-45°, total length of 45.87 meters). Drill core intervals were selected for sampling and assaying based upon gamma radiation levels recorded by downhole probes and hand-held spectrometers, under the presumption that uranium and REE mineralization in the area are genetically related. As a result, the potential remains for additional non radioactive zones of unassayed REE mineralization within the existing drill core.
Ucore geological personnel now believe that the uranium and rare earth mineralization at the Bokan Mountain Property were deposited at separate times and within differing mineralizing events. Based on the foregoing, the predominant areas of U and REE mineralization are anticipated to be located within distinct and separate areas of the overall mineralized system. The highest uranium values are hosted within the Bokan Intrusive Complex, which contains the former high grade Ross Adams uranium mine and the high grade uranium-REE mineralization at I&L. Conversely, the highest REE values are structurally controlled in fractures peripheral to the Intrusive Complex, predominantly to the southeast and northeast. This theory is consistent with 1989 USGS data, which predicts increasing REE grades to the southeast.
A substantial component of the REE suite identified in the Dotson Zone assays is the metal neodymium (Nd; 1453 ppm, nearly 3 lbs/ton, across 2.14 m in Hole LM08-37). Neodymium magnets (Nd2Fe14B) are the strongest permanent magnets known to man.
These are widely used in the manufacture of technology-based products which demand low mass, limited volume and strong magnetic properties, including microphones, loudspeakers, in-ear headphones, electric instruments and computer hard disks. The metal has an unusually large specific heat capacity at liquid-helium temperatures, and is seeing increasing applications in hi-tech cryocoolers. Neodymium is deployed in the construction of specific lasers, and is a component of didymium, essential to the coloring of industrial glass and heat resistant eyewear.
The term “rare earth elements” refers to the 15 metallic elements of the lanthanoid series, plus yttrium, which are characterized by similar physical and chemical properties. International demand for REE’s, particularly the heavy REE’s (HREE’s), has escalated markedly in recent years, with current worldwide production originating primarily within Asia. As the world’s primary producer of HREE’s, China has recently established limits to the exportable quantities of these critically important high technology metals, many of which trade between $100 and $1000 per pound on North American markets. The US Geological Survey has acknowledged the increasing importance of the HREE suite to the United States’ military-industrial complex, and the risk associated with supply sources outside of U.S. control. International and domestic car manufacturers are a primary user and have now entered the REE supply chain, securing long-term sources to ensure availability of raw materials for increasingly energy efficient car models. More details on individual elements are available on the Bokan project page of Ucore’s web site.
In addition to the REE mineralization, elevated concentrations of the non REE metal zirconium (Zr) have been identified in assays from the Dotson Zone. Of particular interest are the results of hole LM08-37, containing zirconium values ranging between 2818 ppm (5.6 lbs/ton across.64 meters) and 2383 ppm (4.8 lbs/ton across 2.19 meters). Zirconium's excellent non corrosive properties have made it an increasingly high-demand alloy agent in industrial applications exposed to corrosion, such as surgical appliances, explosive primers, vacuum tubes and filaments. At present, nearly all produced zirconium is employed in nuclear reactors due to its low neutron-capture cross-section and corrosion resistance. Zirconium dioxide (ZrO2) is widely employed in the manufacture of laboratory crucibles, metallurgical furnaces, and refractory materials. Zircon (ZrSiO4) is experiencing increasing demand in the manufacture of gemstones. Additionally, zirconium alloys are used in the fabrication of aerospace materials for their resistance to heat, an important quality given the extreme heat associated with atmospheric re-entry, and is also a useful component in high performance abrasives.
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 Ancaster, Ontario, Canada. As part of a rigorous QA/QC program, blanks, standards, and duplicates were inserted into the sample train in the field and in the laboratory. Analyses were by a combination of inductively-coupled plasma mass spectrometry and X-ray fluorescence. Reported values are length-weighted averages from multiple samples as ppm metal. Insufficient structural information is available to make a conclusive statement on the relationship between true width and core intercept. Harmen Keyser, P.Geol. (NWT), 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. Plan maps showing drill hole locations and a table showing complete assay results have been posted on Ucore’s web site.
Background
Ucore Uranium Inc. is a junior exploration company focused on establishing mineral resources through exploration and property acquisition. With more than ten projects, Ucore’s primary focus is the Bokan Mountain uranium and rare earth element property on Prince of Wales Island in southeast Alaska. The Bokan Mountain project contains Alaska’s only prior producing uranium mine. The Ross Adams Zone at Bokan 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.
REE mineralization at Bokan Mountain is hosted in a complex system of felsic dikes radial to a zoned, peralkaline, granite intrusive known as the Bokan Intrusive Complex. 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, while the majority of the REE mineralization is more distal in more than 30 known occurrences.
Ucore Uranium owns a 100% interest in 512 Federal lode mining claims at Bokan Mountain, subject to NSR’s ranging from 1% to 4% payable on less than 20% of the total mineral claims. Bokan Mountain is located on Prince of Wales Island in southeastern Alaska, with excellent deep water access and proximity to major sea and rail shipping routes across North America and to Asia.
For more information, please visit our website: www.ucoreuranium.com . For specific information relative to REE’s, their valuations, and their applications, websites such as www.periodic.lanl.gov, , www.elementsales.com , www.theanchorhouse.com, www.chemicool.com, and www.usgs.gov publish information of use to educational institutions, business, and industry.
On behalf of the Board of Directors
Ucore Uranium Inc.
James McKenzie
President
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.
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