Business
Crosshair Announces Plans for Bootheel
Apr. 7, 2011 (Filing Services Canada) -- Crosshair Exploration & Mining Corp. (CXX - TSX, CXZ -...
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[{"type":"text","content":"\nCrosshair Announces Plans for Bootheel\n\n Apr. 7, 2011 (Filing Services Canada) -- Crosshair Exploration & Mining Corp. (CXX - TSX, CXZ - NYSE - Amex),is pleased to announce details of the 2011 exploration program on the Bootheel Property located within the Shirley Basin in southern Wyoming.  The program, which will consist of 30,000 feet (9,144 metres) of drilling as well as metallurgical and hydrological test work, is expected to commence mid-July and take 3 months to complete.  The goal of the program is to upgrade the existing inferred resource to the indicated category as well as capture the remainder of the historic resource.  An updated NI 43-101 resource estimate is expected in Q4 2011.The $1.5 million program will utilize 2 drills in order to complete approximately 75 holes being drilled to an average depth of 400 feet.  Crosshair will also be continuing with its baseline studies this summer and will be installing a weather station in order to collect climate data required for permitting.\"We are looking forward to continuing where we left off with drilling at the Bootheel Property in Wyoming,\" says Stewart Wallis, President and CEO of Crosshair.  \"Our top priority this summer will be to capture the remainder of the historic resource as well as upgrade the current resource to the indicated category.\"The initial independent National Instrument (NI) 43-101 Mineral Resource estimate on the Bootheel Property includes an indicated resource of 1.09 million pounds of uranium oxide (1.44 million tons at 0.038% eU3O8) and an additional inferred resource of 3.25 million pounds of uranium oxide (4.40 million tons at 0.037% eU3O8). The resource remains open for expansion with less than 60% of the historical resource area included in this initial estimate. Uranium mineralization is hosted by several individual sandstone beds at the Bootheel Property. The majority of the resources are hosted by the Sundance Formation, which demonstrated in the 2008 laboratory testing to have the potential to be recovered using in-situ recovery (ISR) techniques (please refer to News Release dated February 5, 2009). ISR techniques are more environmentally friendly and less capital intensive than conventional mining methods. There are several ISR projects in Wyoming which are currently in the permi...