TSX.V:UCR
KIRKLAND LAKE, ON, Dec. 6 /CNW/ - (Uranium City Resources Inc - UCR:TSX.V, A0F7F5:Berlin) ("UCR" or the "Company") announced today an update about on-going drilling and exploration work at the East Target.
Recent exploration work by UCR geologists has identified a new zone of radioactivity and mineralisation on the southwest portion of the cut grid. This zone of radioactivity is 700 feet north of the St. Louis Fault and at present, has a lateral extent of 400 feet, extending from L64+00E to L60+00E. The 2,000' radioactive anomaly announced on 14-Nov-06, extends L62+00E to L82+00E and is 1,200 feet north of the St. Louis Fault. These two linear trends are defined over multiple lines and sample stations and both parallel the St. Louis Fault. The size potential that has been defined from recent exploration work prompted UCR to conduct a VTEM (MAG and EM) airborne geophysical survey over the area surrounding the East Target, as well as the Eldorado, Tazin Lake, and Fish Hook uranium projects. The entire VTEM survey covered approximately 1,830 line kilometres.
Bob Kasner, CEO of UCR said, "This new zone of mineralization continues the substantial progress made at the East Target. This newly discovered zone of radioactivity and mineralisation further supports the significance of the recent scintillometer survey that outlined a 2,000' potential extension of the zone. The East Target is demonstrating potential to be much larger than initially thought, so we have conducted additional work to determine what the ultimate size may be. The combination of assay results, extended geophysical and scintillometer survey coverage, will help guide the remainder of the drilling campaign."
Drilling and Sampling Update
UCR has completed a total of 18 holes (~2,600 m) to date and is currently awaiting assay results. While logging East Target drillcore, UCR geologists have noted lithologies that are associated with mineralisation along the St. Louis Fault. Sequences of quartzites, hematised mica schists, argillites and intervals of strong shearing and faulting have been encountered in drillcore. A number of wide zones of anomalous radioactivity within the drillcore from the East Target have been defined through the use of hand-held scintillometers. A large difference between anomalous values and the background is indicative of significant radioactivity and is thus an effective guide for further uranium exploration.
The technical information in this news release has been reviewed by David Leng, P. Geo., a qualified person as defined by National Instrument 43-101.
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About Uranium City Resources:
Uranium City Resources has a number of 100% owned uranium projects within the Uranium City Mining District, an area with over 30 years of past mining and nearly 70 million pounds of uranium production. Since 2005, the Company has spent over C$3 million exploring its properties and has outlined numerous uranium targets. Recent drill programs have confirmed the presence of uranium mineralization and drilling is to continue throughout 2006.
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.