TSXV: UCR
TORONTO, Oct. 24 /CNW/ - Uranium City Resources ("UCR") is pleased to
announce that it has received the final results of the VTEM airborne
geophysical survey which was conducted during April of 2005. The survey was
flown over properties owned by UCR in the Uranium City Mining District of
Northern Saskatchewan. Historic uranium production from the Uranium City
district was in excess of 65 million pounds in a span of over 30 years.
The helicopter-borne VTEM survey is deeply penetrating (~500-700 m depth)
and gives highly accurate positioning. The VTEM survey was chosen to
complement a Geoterrex-Dighem survey (combined magnetic, electromagnetic and
radiometrics) which was completed in 1997 by GLR Resources Inc.
Several thousand flight line kilometers (at 200 metre centres) were flown
during the survey. The VTEM survey produced more than 2,000 electromagnetic
anomalies covering an area of several hundred square kilometres. UCR will be
compiling these results in order to confirm existing known EM anomalies and
potentially outline new targets.
The purpose of conducting this survey is to aid drill targeting in areas
associated with known historic mineralisation (fracture/vein-type
mineralisation) and the potential for Athabasca unconformity-type
mineralisation within UCR's landholdings.
Uranium City Resources is a dedicated Uranium Exploration Company with
its current main asset being its large land holdings in the past producing and
logistically well located Uranium City area 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 $3 million in the treasury.
Kian Jensen, P. Geo, is the qualified person responsible for reviewing
the contents of this news release
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
