TSX.V: UCR
KIRKLAND LAKE, ON, April 2 /CNW/ - Uranium City Resources Inc. ("UCR"), is pleased to provide the following brief update on its winter drilling program on the East Target property located in the Beaverlodge/Uranium City Mining District in north-west Saskatchewan.
So far in 2008, UCR has drilled 11 new drill holes on the East Target property - nine of which were drilled on land and two of which were done from the ice on Verna Lake. Despite some adversely cold weather conditions that slowed down drilling progress, these holes were all successfully completed for a total length of 1285 meters.
Drilling continues to confirm that the U mineralization is continuous between the wider spaced holes done in 2006 and 2007 in the central and eastern part of the East Target property. In addition, the holes done in the western part of the East Target also show continuous U mineralization although of lower grade. The two holes completed from the ice on Verna Lake to the south of the East Target property also intersected mineralization which suggests the U mineralization also extends southwards towards the St Louis Fault.
Assay results have been received from Actlabs on the following two holes:
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Avg.
Total Grade Pounds
Hole Within per
HOLE Depth Dip From To Length Interval Ton
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(meters) (meters) (meters) (meters) (%U(3)O(8))
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FT08-59 110.00 -45 41.00 44.00 3.00 0.033 0.66
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FT08-66 108.20 -45 58.00 59.00 1.00 0.023 0.46
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64.80 65.80 1.00 0.026 0.52
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72.00 73.00 1.00 0.085 1.70
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At present there are some 200 additional assays of core samples from the East Target Project that will be shipped for assaying to Actlabs in Ancaster, Ontario. Results will be reported as soon as they are received. Note that the assay methodology employed by Actlabs involves Delayed Neutron Counting.
Drilling has also started on ice at the Nicholson Bay Project to test and investigate: 1) the potential for U mineralization along a fault that cuts the Athabasca sandstone formation in the area, 2) the depth extension of U-Au-PGM mineralization at the former Nicholson Bay shaft No.2 deposit that was previously only defined to a maximum depth of 50m by drilling work and by underground workings, 3) the potential for U mineralization to the west of the former Nicholson Bay shaft No.2 under Lake Athabasca.
The technical information in this news release has been reviewed by Jim Kermeen, P. Eng. a Qualified Person as defined by National Instrument 43-101.
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 control or prediction and 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.