Business
Anglo Canadian Uranium Announces Colorado Drill Program Yields 3.5 feet of 0.258% eU308
(via Thenewswire.ca)
About this update from Canada One Mining Corp
[{"type":"text","content":"Anglo Canadian Uranium Announces Colorado Drill Program Yields 3.5 feet of 0.258% eU308\n\n(via Thenewswire.ca)\nAugust 13 2008 - Anglo Canadian Uranium Corp. (URA -- TSX.V) is pleased to announce is has received\n\nresults from the current drill program on its 100% owned Eula Belle uranium project in\n\nMontrose County, Southwestern Colorado. To date, twenty-six (26) holes have been completed.\n\nProbe work is being done by Jet West Geophysical Services of Farmington, New Mexico. This\n\ndrill program is testing two 25-hole cluster drill outs within the Eula Belle Uranium Project\n\narea, bordering the Company's 100% owned King Uranium Project, within the Uravan Mineral\n\nBelt of Colorado.\n\nThe best results from the Eula Belle drill-out, located about 700m north of the old mine\n\nworkings, are shown in the following table.\n\nWell Name From To Interval Grade eU3O8 Grade Thickness \n \nMC-09-07 747.2 753.2 6 0.193 1.16 \nMC-08-07 749.6 752.6 3 0.136 0.41 \nMC-13 749 754 5 0.044 0.22 \nLM29-49N-17W#1 552.1 554.1 2 0.013 0.03 \nLM21-49N-17W#1 651.1 654.6 3.5 0.029 0.10 \nMC-15 529.5 544 14.5 0.026 0.38 \nMC-14 761 764.5 3.5 0.022 0.08 \nMC-7-07 742.3 746.3 4 0.040 0.16 \nMC-19-07 784.3 787.3 3 0.348 1.04 \nMC-20-07 778.4 784.4 6 0.040 0.24 \nMC-24-27 749.5 753 3.5 0.258 0.90 \n \n\nThe \"e\" preceding the U3O8 assays indicates that these values were calculated using a\n\ngamma ray probe rather than a chemical analytical method.\n\nThe recent work confirms the presence of uranium mineralization in multiple sandstone beds\n\nranging in depth from 529 feet to 787 feet. A review of the area has indicated several old\n\ndrill-outs just north of the Eula Belle workings. A map outlining this drilling program is\n\navailable on the company web site at: www.anglocanex.com.\n\n* The distance between hole MC-19 and hole MC-24 is approximately 275m or 900 feet.\n\nHoles MC-15, 19, 20 & 24 occur in the Union Carbide drill-out where \"ore grade\" material is\n\nnoted on historic maps.\n\nNote: \"ore grade\" as used in this context is not a term consistent with NI 43-101 standards.\n\nUnion Carbide used this term as a grade that they could potentially mine. The grade cutoff\n\nfrom Union Carbide's maps appears to be 0.025 % eU3O8.\n\nThe Eula Belle Uranium Project contains the Eula Belle uranium/vanadium mine which was\n\noperated by Uni...