Business
UCR to Drill Newly Identified Potential for Resource Expansion
UCR to Drill Newly Identified Potential for Resource Expansion.
About this update from Strategic Resources Inc.
[{"type":"text","content":"\n\n\n\n\nTSX.V:UCR\n\nTORONTO, Sept. 7 /CNW/ - (Uranium City Resources Inc - UCR:TSX.V,\nA0F7F5:Berlin) (\"UCR\" or the \"Company\") today announced that it has identified\ntargets for immediate drilling, based on compiling historical data associated\nwith the past producing mines in the Uranium City Mining District (UCMD). The\nanalysis, along with evidence obtained from the Company's ongoing exploration\ncampaign, has enabled the Company to identify the properties in its portfolio\nthat offer the most promising development opportunities.\nThe two targets identified, known as the \"East\" and `'West\" targets, are\nlocated immediately on, or adjacent to the St. Louis Fault and/or Martin-Tazin\nUnconformity. The \"East\" target is situated parallel to the St. Louis Fault\nand on-strike to the east from the former producing Verna Mine. The \"West\"\ntarget is in the immediate vicinity of the former producing Eagle Mine and\nwest of the Fay mine. Together the Fay, Ace, and Verna mines produced more\nthan 45 million pounds of uranium, which represents the majority of uranium\nproduction in the UCMD.\nBob Kasner, CEO of UCR said, \"UCR's unique advantage among junior uranium\ncompanies is the presence of several past producing mines within properties,\nbut this has also increased the demands on our geological team because of the\nneed to prioritize among an abundance of potential targets. To focus our\nefforts, it was imperative to analyze the vast amount of historical data\navailable. From our analysis of historical data, we have decided to\nconcentrate on two targets that possess historical reserves/resources and also\nsignificant untested exploration potential.\n\n\"East\" Target\nIdentified within the \"East\" target is an area in the footwall of the St.\nLouis Fault approximately 1.5 km east of the former Verna Mine. This area was\nmined as a small open pit in 1981 and plans were made to drive a ramp and\nstart mining from underground. Preparations to start the ramp and an in-house\nfeasibility were completed by Eldorado Nuclear Limited, but due to the\nsuspension of mining operations in 1982, only part of the pit was mined and\nthe ramp was not started. This area has only been drilled to a depth of\napproximately 100-110 feet below surface and remains open to the east and\nwest, and also at depth.\nHistorical drilling returne...