Business
Colorado Drill Program Yields 8.0 feet of 0.714% eU3O8
(via Thenewswire.ca)
About this update from Canada One Mining Corp
[{"type":"text","content":"Colorado Drill Program Yields 8.0 feet of 0.714% eU3O8\n\n(via Thenewswire.ca)\nSeptember 23 2008 - Anglo Canadian Uranium Corp. (URA -- TSX.V) is pleased to announce it has received further\n\nresults from the recently completed drill program on its 100% owned Gunslinger uranium property in Mesa County, Southwestern Colorado.\n\nThis drill program has tested two 25-hole cluster drill-outs within the Outlaw Mesa Uranium Project area, which includes the Gunslinger, the Gunfighter and the Lonestar zones. To date, forty-two (42) holes have been completed with an additional twenty (20) holes to be completed in the third quarter of 2008. Probe work is being done by Jet West Geophysical Services of Farmington, New Mexico.\n\nThe best results obtained from the Gunslinger zone, so far, include:\n\nDrill Hole From To Interval (feet) Grade eU3O8 Grade x Thickness \n \nGS-08-23 260 264.5 4.5 0.076 0.34 \nGS-08-24 248.2 256.2 8.0 0.714 5.71 \nGS-08-25 244.8 248.3 3.5 0.060 0.21 \nGS-08-26 247.4 250.4 3.0 0.024 0.07 \nGS-08-27 241.3 244.3 3.0 0.086 0.26 \n\nThe \"e\" preceding the U3O8 assays indicates that these values were calculated using a gamma ray probe rather than a chemical analytical method.\n\nThese holes are located over a distance of 38 m (125 feet) north-south by about 15m (50 feet) east-west. A map outlining this drilling program is available on the company web site at: www.anglocanex.com.\n\nThe Outlaw Mesa Uranium Project contains the Lonester, Gunslinger and the Gunfighter deposits.\n\nThe Gunslinger, which is surrounded on three sides by the Department of Energy (DOE) uranium leases, has a historical resource of 258,000 pounds of U3O8. Several mines in the area, including the G1 and G2, produced 165,397 tons at 0.25% U3O8 and 1.09% V2O5 between 1950 and 1960. Union Carbide operated the Worchester Mine from 1948 to 1962 which produced 253,703 tons at a range of 0.22% to 0.42 % U3O8 and 1.43% to 1.80% V2O5.\n\nWith regard to the historical information referred to in this news release and details regarding\n\nthe location of these historical resources, the Company considers them to be relevant but not to\n\nNI 43-101 standards.\n\nThe technical portion of this release has been approved by John Nebocat, PEng., a qualified\n\nperson under NI 43-101.\n\nAbout Anglo Canadian Uranium Corp.\n\nAnglo-Canadian Uranium is an aggressive...