UCR-TSX.V
RKLAND LAKE, ON, March 28 /CNW/ - Uranium City Resources Inc ("UCR")
today announced that it has finalised the selection of targets for its
drilling campaign planned to commence in late March to early April.
UCR prioritised its targets by utilising the more than 2,000 EM responses
outlined by the VTEM survey earlier undertaken by the Company (please see
release of 24-Oct-05). Combining the compiled VTEM survey with geochemical
surveys resulted in more precise drill targeting.
UCR is budgeting $500,000 for this drilling campaign which will focus on
targets at the Lorado, Fish Hook and Nicholson Uranium Projects. The total
extent of drilling is anticipated to total approximately 5,000 metres. Bob
Kasner, CEO of UCR said "This is the first substantial uranium drilling
campaign undertaken in Uranium City since 2005 and is certainly one of the
largest major campaigns since the rush of 1950 through 1970. The recognised
potential for unconformity-hosted uranium mineralisation along the southern
edge of UCR's properties is a key feature that we will continue to focus on."
About Uranium City Resources
Uranium City Resources is a dedicated Uranium exploration and development
company with extensive land holdings in the past producing and logistically
well located Uranium City region of Northern Saskatchewan. Saskatchewan is
currently the largest uranium-producing region in the world with annual
production of approximately 30 million pounds of uranium. The Company is well
financed with over $2.5 million in the treasury.
This press release contains forward-looking statements based on
assumptions, uncertainties, and managements' best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements
are detailed from time to time in UCR periodic reports filed with the Ontario
Securities Commission and other regulatory authorities. UCR has no intention
or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Forward looking statements:
This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond UCR's ability to control or predict, which could cause actual events or
results to differ materially from those anticipated in such forward-looking
statements. Although UCR believes that the assumptions inherent in the
forward-looking statements are reasonable, undue reliance should not be placed
on these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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http://www.uraniumcityresources.com UCR:TSX-V
