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Commences Phase II Vanadium Resource Expansion Program - Commences Preparations for End of Labrador Uranium Moratorium
Commences Phase II Vanadium Resource Expansion Program - Commences Preparations for End of Labrad...
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[{"type":"text","content":"\nCommences Phase II Vanadium Resource Expansion Program - Commences Preparations for End of Labrador Uranium Moratorium\n\n\n Jul. 15, 2010 (Filing Services Canada) -- Crosshair Exploration & Mining Corp. (CXX - TSX, CXZ - NYSE Amex),  (\"Crosshair\") is pleased to announce the commencement of Phase II of the vanadium resource expansion program on the Central Mineral Belt (CMB) Project in Labrador.  The program has been planned with the goal of significantly adding pounds of vanadium to the existing resource without further drilling.  Phase I consisted of sampling the core at the core storage facilities in Goose Bay, Labrador and Phase II consists of sampling core at Crosshair's Armstrong Camp in central Labrador.  The current NI 43-101 resource contains not only uranium, but a significant vanadium component.  Given the fact that the previous drill programs on the CMB Project focused exclusively on uranium, most holes were only sampled where uranium was encountered.  For this reason, approximately 3,600 metres (m) of existing core needed to be sampled and assayed for vanadium.  1,979 m has already been assayed and previously reported (refer to website for results).Phase II of the vanadium resource expansion program consists of sampling approximately 1,700 m of core.  An updated National Instrument 43-101 resource estimate will be carried out following the completion of Phase II.Refurbishment of Armstrong & Kanariktok CampsWith the 3 year Moratorium on Uranium Mining and Milling put in place by the Nunatsiavut Government in March 2008 set to expire in spring 2011, Crosshair is refurbishing both the Armstrong and Kanariktok Camps in order to carry out a 2011 summer exploration program.  \"We are confident that when the uranium moratorium expires in March of next year, it will not be renewed,\" says Mark Morabito, Executive Chairman of Crosshair.  \"We are gearing up for an exciting 2011 summer program and will continue from where we left off in 2008.\"The Armstrong Camp is located on the CMB Property on the C Zone - Armstrong Corridor, which is a 4.5 kilometre (km) long corridor that contains the C Zone, Area 1 and Armstrong NI 43-101 Resources.  All three resource areas contain an indicated resource of 5.19 million pound...