Business
UCR Commences Phase One of 2006 Winter Drilling Campaign
UCR Commences Phase One of 2006 Winter Drilling Campaign.
About this update from Strategic Resources Inc.
[{"type":"text","content":"\n\n\n\n\nTSX.V:UCR\n\nRKLAND LAKE, ON, Oct. 26 /CNW/ - (Uranium City Resources Inc -\nUCR:TSX.V, A0F7F5:Berlin) (\"UCR\" or the \"Company\") today announced that\ndrilling is ongoing at the East Target, located in the Uranium City Mining\nDistrict, Northern Saskatchewan. To date, a total of nine holes have been\ncompleted. Drill results are expected in the coming weeks. UCR identified the\nEast Target as a high-priority target based on its geological setting and\noutstanding exploration potential (please see UCR press release of 07-Sep-06).\nBob Kasner, CEO of UCR said, \"We have designated the East Target as our\npriority because there is a known deposit on surface and the lateral and\ndown-dip extent is largely untested. Our geologists have recently done\ndetailed exploration work at the East Target, and this drilling campaign will\ntest lateral and down-dip expansion potential. The potential of this target is\nevidenced by the proximity of the three largest historical mines to the St.\nLouis Fault, and the East Target is in the footwall of the St. Louis Fault.\"\nPhase one of the 2006 winter drilling program at the East Target is\nprojected to consist of approximately 3,000 metres. Drilling is to test the\nEast Target along strike and down-dip for additional uranium mineralisation.\nAt the East Target, uranium mineralisation has been identified in multiple\nveins from surface to a depth of up to 100 feet.(1) Historical drilling\nreturned values in the vicinity of 0.30% U(3)O(8) over a core length of 19\nfeet.(1)\nBased on compilation of historical data, UCR has established that\naccording to the mine closure report, historical surface mining was a total of\n8,567 tons of 0.29% U(3)O(8) containing 50,700 pounds of uranium.(2) Remaining\nresources to the 100 foot level are 47,800 tons of 0.285% containing 267,500\npounds uranium.(2) UCR believes that there is very good potential to confirm\nand expand these resources.\n\n>\n\nThe technical information in this news release has been reviewed by John\nCook, P. Eng., a qualified person as defined by National Instrument 43-101.\n\nAbout Uranium City Resources:\nUranium City Resources has a number of 100% owned uranium projects within\nthe Uranium City Mining District, an area with over 30 years of past mining\nand nearly 70 million pounds of uranium production. Since 2005, the Comp...