White Canyon Uranium Revised Announcement: Initial Drilling at Lark Royal Project Hits 8 Feet of 0.21%U3O8
09 Novembro 2010 - 5:35PM
Marketwired
White Canyon Uranium Ltd (ASX: WCU)(TSX VENTURE: WU)
-- Initial drilling intercepts significant U3O8 mineralisation
-- Mineralisation at Lark Royal is immediately along strike from White
Canyon's current mining operations at Daneros
-- Lark Royal is an historical mine
White Canyon Uranium Ltd (ASX: WCU)(TSX VENTURE: WU), is pleased
to report that initial drilling at the company's 100% owned Lark
Royal project in South East Utah, USA, has intersected significant
mineralisation with hole LR-03 returning 8 feet at 0.21% U3O8.
Drill hole data is currently being appraised along with a
complete assessment of historical drilling and mine data to
determine additional drill hole targets at Lark Royal. Lark Royal
is located immediately along strike and north west of current
mining operations at the Daneros Mine. The company's objective is
to potentially expand on the previously announced 1.16Mlb's JORC
resource estimate confirmed as 219,000st @ 2,656ppm (See
announcement dated 19 August, 2010 and refer to Table 1 below). The
resource remains open with further drill ready targets identified
in which the company has an exploration target of potentially
delineating a further 1Mlbs U3O8.
The Lark Royal project is located in the Red Canyon area of the
White Canyon mining district approximately 65km west of Blanding
and some 120km southwest of Moab in San Juan County of southeastern
Utah, USA. Historical mining at Lark Royal was well established
prior to suspension of activities in 1985. Significant un-mined
mineralisation is also evident from historical mine level plans
which could add to the known resource.
Resource estimates in the area are based on the results of 44
diamond and rotary drill holes drilled in 2008 and the Indicated
Resource was based on the assayed samples (24 holes) using ICP
method. The remainder of the resource was determined from the 2008
drill holes and 344 historical drill holes.
Table 1: Daneros Resource Estimate with a 0.1% cut-off
----------------------------------------------------
Short Tons U3O8 U3O8
Category (st) (ppm) (lb)
----------------------------------------------------
Indicated 96,623 3,662 707,584
Inferred 122,398 1,862 455,819
Total 219,021 2,656 1,163,403
----------------------------------------------------
About White Canyon
White Canyon Uranium Limited (ASX: WCU)(TSX VENTURE: WU) listed
in March 2008 and has fast tracked to become an advanced uranium
production company holding 100% interest in the Daneros Mine and
the advanced Lark Royal, Thompson, Geitus, Blue Jay and Marcy Look
projects, located in SE Utah, USA; which comprise approximately
15,500acres of mining claims and mineral leases. White Canyon
entered the ranks of uranium producers in December 2009 with toll
milling commencing November 2010 and 'yellow-cake' sales expected
in December 2010.
Competent Persons Statement
Greg Burns has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent
Person as defined in the 2004 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Greg Burns consents to the inclusion in the report of
the matters based on his information in the form and context in
which it appears.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: White Canyon Uranium Limited John Ramsey Vice
President - Marketing (435) 260-0267 jramsey@whitecanyonuranium.com
www.whitecanyonuranium.com
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