Business
Crosshair Commences Drilling at Juniper Ridge
Jun. 7, 2011 (Filing Services Canada) -- Crosshair Exploration & Mining Corp. (CXX - TSX, CXZ -...
About this update from Global Crossing Airlines Group, Inc.
[{"type":"text","content":"\nCrosshair Commences Drilling at Juniper Ridge\n\n Jun. 7, 2011 (Filing Services Canada) -- Crosshair Exploration & Mining Corp. (CXX - TSX, CXZ - NYSE - Amex),is pleased to announce that drilling has commenced at the Juniper Ridge Uranium Project in southwest Wyoming.  The 2011 program will consist of 400 holes drilled to an average depth of 200 feet for a total of 80,000 feet (24,400 metres) of drilling in order to confirm historical results.  The drill program will be complimented by a metallurgical program with the goal of confirming and expanding the historical uranium resource into a National Instrument (NI) 43-101 compliant resource.Juniper Ridge contains a historical geological resource of 5.2 million tons grading 0.067% U3O8 for a total 6.97 million pounds of uranium. The historical resource estimate was completed by AGIP Mining Company in 1986, prior to the implementation of NI 43-101 and is not compliant with current accepted reserve and resource classifications as set forth by the Canadian Institute of Mining and Metallurgy. Given the quality of the historic work completed on the Property, Crosshair believes the resource estimate to be both relevant and reliable. However, a qualified person has not completed sufficient work to classify the historic mineral resources as current mineral resources or mineral reserves as defined in NI 43-101, and Crosshair is not treating the historic resources as current. Therefore, the historical resource estimate should not be relied upon. Additional information on the Juniper Ridge Project, including a proposed drill hole location map, can be found at: http://www.crosshairexploration.com/s/JuniperRidge.asp.  Stewart Wallis, P.Geo. President and CEO of Crosshair and a Qualified Person as defined by NI 43-101, has reviewed and is responsible for the technical information contained in this news release. About CrosshairCrosshair is a prominent player in the exploration and development of uranium, vanadium and gold in the US and Canada. Its flagship projects, Bootheel and Juniper Ridge, are both located in uranium mining friendly Wyoming.  Bootheel has exceeded the minimum mining threshold and with its in-situ mining potential, is designed for near term production. The CMB Uranium/Vanadium Project is located in Labrador, Canada and has four current...