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I would add to the list:
DML of course, STM, and maybe FSY (production anticipated within 18 months..)
To Jagman:
UUU.v add .v on Vancouver and .to on Toronto.
You may use www.tsx.com if you don't want to use extensions.
CXX : This news was not appreciated..doesn't look that bad to me..
RECONNAISSANCE DRILLING AT MORAN HEIGHTS CUTS SIGNIFICANT U3O8 - BROAD ZONES INTERSECTED AT AREA 51
Crosshair Exploration and Mining Corp. (TSX-V: CXX) (the "Company") is pleased to announce the latest results from the first pass reconnaissance drilling of new targets on its Central Mineral Belt, Labrador uranium property. Highlights from the latest drilling include, from Moran Heights 5.0 meters grading 0.10% U3O8 including 1.5 meters grading 0.25% U3O8. At Area 51, broad zones of mineralization grading up to 0.012% U3O8 over 24.66 meters were intersected along a 1.2 kilometer strike length. The Company is excited with the results of the 2006 reconnaissance drilling from these areas, as we have confirmed the existence of bedrock uranium mineralization coinciding with radiometric surface anomalies and will use this information to direct additional drilling in 2007. These results, along with the results from drilling at the B Zone (see News Release dated October 3, 2006) continue to demonstrate the potential of the property to host multiple uranium deposits in addition to the C Zone. The Company expects to make an announcement shortly regarding the commencement of the 2007 winter drill program.
The reconnaissance drilling of the new targets was conducted concurrent to the drilling done at the Upper C Zone to expand the uranium resource. A significant number of assay results from the Upper C Zone are still pending and will be reported in late January once all results have been returned from the analyzing laboratory. In addition, an update to the NI43-101 resource incorporating results from all drilling completed in 2006 is expected to be completed in early February.
An assay table and maps have been posted on the company website - http://www.crosshairexploration.com/s/Addenda.asp?ReportID=165542.
Moran Heights
The reconnaissance drill program at Moran Heights consisted of 2757 meters of drilling in 25 holes targeting the source of over 300 radioactive boulders. Historic grab samples of the boulders typically assayed from 0.5% to 1.0% U3O8 (maximum of 4.54% U3O8). Thirty-three grab samples collected by Crosshair personnel averaged 0.768% U3O8 (maximum of 3.74% U3O8). The boulders are situated near the unconformity between sedimentary rocks of the Bruce River Group and mafic volcanic rocks of the Moran Lake Group, approximately 7.5 kilometers northeast of the C Zone. The geological setting at Moran Heights, including the age of the unconformity, is similar to that at the Athabascan deposits in Northern Saskatchewan.
Previous drilling by a Canico/Brinex joint venture (8 holes) failed to intersect significant uranium mineralization. However, the Crosshair holes were drilled on the basis of a new structural model and re-interpreted geology. As a result, several of the drill holes intersected significant mineralization similar in style to the previously un-sourced boulders. Summarized results include:
O 5.00 meters grading 0.10% U3O8, including 1.50 meters grading
0.253% U3O8, starting at a down hole depth of 39.00 meters in hole
ML-MH-04
O 5.45 meters grading 0.106% U3O8, including 2.44 meters grading
0.204% U3O8, starting at a down hole depth of 36.08 meters in hole
ML-MH-13
O 4.43 meters grading 0.05% U3O8, including 1.46 meters grading
0.149% U3O8 starting at a down hole depth of 45.61 meters in hole
ML-MH-14
Preliminary uranium results have been received for all drill holes but final results for holes ML-MH-20 to 25 are pending. A complete summary of assays to date, including several wide sections having enriched copper, is posted on the Company website. An aggressive Phase 2 program designed to test the strike and dip extent of the newly discovered mineralization is being planned and will be carried out in summer 2007.
Area 51
The reconnaissance drill program at Area 51 consisted of 1438 meters in 13 drill holes testing a significant radiometric anomaly located approximately 5 kilometers north of the C Zone. The radiometric anomaly is comparable with that of the Upper C Zone, despite the considerable overburden and lack of bedrock exposure at Area 51. These drill holes represented the first drilling activity ever in this area.
The drilling consistently intersected wide zones of lower grade uranium mineralization along the entire 1.2 kilometre strike length, all of which is open to depth and along strike. The mineralized zones occur proximal to the unconformity between Archean basement rocks and the overlying Moran Lake Group. Results include up to 0.012% U3O8 over 24.66 meters (21.40 to 46.06 meters) in hole ML-A51-03 and 0.012% U3O8 over 14.43 meters (28.68 to 43.11 meters) in hole ML-A51-06. The broad widths and consistency of the mineralization at Area 51 suggest that there is strong potential for higher grade uranium mineralization in areas where favourable structures cross cut the mineralized zone along strike and to depth.
Low grade uranium deposits are being developed elsewhere such as at the Valencia deposit in Namibia (Forsys Metals) where development is being planned on a resource with an average grade of 0.022% U3O8. Further drilling at Area 51 will follow during the summer 2007 program after incorporation of all assays and a revised structural interpretation.
Madsen Lake
The reconnaissance drill program at Madsen Lake consisted of 9 holes totalling 956 meters that tested structurally controlled zones of mineralization in the central portion of the Moran Lake property. The most significant of these zones, which assayed up to 4.57% U3O8 from grab samples, was intermittently traced along strike for 1.3 kilometres.
The best results from the drilling were returned from holes ML-MA-02 which intersected 0.048% U3O8 over 1.5 meters (21.84 to 23.34 meters) and ML-MA-05 which intersected 0.054% U3O8 over 1.5 meters (91.00 to 92.50 meters) and 0.087% U3O8 over 0.5 metres (100.58 to 101.08 meters). The geological and structural model for the Madsen Lake targets will be re-evaluated in preparation for a Phase 2 program to be implemented in 2007.
New Discovery - Dominion Zone
The Company is also pleased to announce the discovery of a potentially significant zone of mineralization, the Dominion Zone, approximately 500 meters west of the C Zone, below the unconformity, in a setting similar to the Armstrong showing 4 kilometres to the southwest. A total of eight grab samples collected over a 25 meter square area averaged 0.114% U3O8 with five of eight samples grading above 0.10% U3O8. Snow cover prevented a second visit to the new discovery, which strongly resembles the Armstrong occurrence where drilling will take place in 2007 to test surface mineralization averaging 0.303% U3O8. The presence of a new zone of mineralization in close proximity to the Upper and Lower C Zone is significant and suggests an additional mineralized environment below the unconformity.
Tim Froude, Senior Vice President of Exploration for Crosshair, a qualified person under National Instrument 43-101 supervised and directed all work associated with the sampling program. Samples are shipped in sealed bags with numbered lock ties to Eastern Analytical in Springdale, Newfoundland for preparation and assayed for Au, Cu and Ag. Eastern Analytical ships the pulps to Activation Laboratories in Ontario for U and ICP analysis.
About Crosshair
Crosshair is an aggressive uranium and gold exploration and development Company with select projects in Newfoundland and Labrador. The Company has developed into a dominant player in the exploration for uranium in the Central Mineral Belt of Labrador. The 685 sq km Moran Lake Uranium / IOCG Project is host to potentially three significant types of uranium mineralization - Iron Oxide Copper Gold (IOCG - Olympic Dam), structurally controlled, shear zone ("Michelin") and unconformity types of mineralization. In addition, through option agreements with Rubicon Minerals Corporation, Crosshair has secured a position in one of the most prospective massive sulphide districts in Canada as well as a promising early stage high grade gold property at South Golden Promise and Golden Promise.
For more information of the Company and its properties, please visit the website at www.crosshairexploration.com.
Strateco Intersects 2,1%U308 Over 12,4 Metres on Matoush and Allocates a $12 Million Budget for 2007
MONTREAL, QUEBEC, Dec 22, 2006 (CCNMatthews via COMTEX News Network) --
Strateco Resources Inc. ("Strateco") (TSX VENTURE:RSC)(FRANKFURT:RF9)(OTCBB:SRSIF)is pleased to announce the completion of 38 drill holes by one drill rig on the Matoush property in 2006 for a total of 13,668 metres. The Matoush property is wholly-owned by Strateco. Drilling covered a 730-metre section of the Matoush structure, which has been traced over a distance of more than eight kilometres. Most of the drilling, 17 holes, targeted the AM-15 zone. Strateco has received the results of 15 additional holes from the Saskatoon Research Centre (SRC), with analyses for 12 holes still pending. The best results for the new holes (holes MT-06-14 to 21, MT-06-27 to 29, MT-06-30) were from Hole MT-06-30, which returned a grade of 2.1 % U3O8 over 12.4 metres representing 42 lbs/tonne U3O8 over 41 feet; this includes 4.7 % U3O8 over 3.3 metres (94 lbs per ton) and 16.6 %U308 over 0.3 metres (332 lbs per ton). This is the best intersection obtained to date on the property. A pound of U3O8 presently sells for US $72. Hole MT-06-30 lies in the northern extension of the AM-15 zone, at the upper contact of the ACF facies. It is the first of a series of holes with strong potential for high grades, including holes MT-06-31, 32, 33 and 37 drilled the length of the AM-15 zone going north and above hole MT-06-16, which intersected low U3O8 values (see location map on the website at www.stratecoinc.com).
Holes MT-06-14, 15 and 16 all returned values of U3O8, albeit low values for Matoush. Results for Hole MT-06-18, located 175 metres north of AM-15, included 0.27% over 2 metres, but it should be noted that a 3-metre section of the fault was not recovered.
Of the most recent holes drilled on the AM-15 zone for which chemical results were not available, Hole MT-06-35 is of particular interest. This hole in fact intersected a section strongly mineralized in pitchblende and uranophane over 15.1 metres, with up to 65,000 counts per section (cps).
Exploration holes (MT-06-20 to MT-06-27) drilled on a 100-metre grid to the north all intersected the fault with typical alteration, with radiometry indicating weak to moderate values of up to 2,500 cps.
The following table shows mineralized intersections for which chemical results have been received, as well as the radiometry in holes for which chemical results are still pending.
The table is available at the following address:
http://www.ccnmatthews.com/docs/min1.pdf
The true width of the mineralized intersections has not yet been determined.
A preliminary budget of CAN $12 million has been allocated for work on the Matoush property in 2007. Most of this budget will be used for drilling. The objective for 2007 is to define resources sufficient to warrant a feasibility study for a 2 million pound U3O8 annual mining operation with a mine life of 8 to 10 years. Beginning in January 2007, a drill rig will begin testing the sediment/bedrock contact (unconformity), expected at a vertical depth of about 900 metres. The first hole will establish the stratigraphy of the sediments and the number of ACF-type sediment units with high potential uranium grades that have been discovered to date on the Matoush property. It is known that in the Athabaska Basin, where there are perched zones with similar grades to those found at Matoush, the richer deposits lie at or near the sediment/bedrock unconformity contact.
As soon as the ice on the lake near the camp is thick enough, a second drill will be moved approximately 250 metres south of AM-15 to drill a high-priority target.
This target area corresponds to the best intersection obtained in 1984 by Uranerz Exploration and Mining in the ACF facies near surface, namely a grade of 0.29% U3O8 over 4 metres in Hole AM-09. In comparison, Hole AM-06, located above AM-15, intersected 0.30% U3O8 over 0.55 metres. The potential of this area is enhanced by the presence of numerous sub-angular blocks discovered recently by Strateco's prospecting team about one kilometre south of the target area. Repeated high radiometry readings of 20,000 to 30,000 cps were obtained on these blocks, which represent a fuschite alteration typical of the Matoush project uranium zones.
By the end of February, 2007, Strateco plans to have three or four drills on the site. The 2007 budget also provides for the installation of a camp large enough to house 45 people, including various technical personnel, drill operators, prospecting crews and the various consultants involved in collecting the data required for an environmental impact study.
Strateco has retained the services of Mr. Robert Menard, Ing. He joined the team as a consultant and he is responsible for selecting and supervising the consultants and contractors for the Matoush project. Mr. Menard was Vice President, Projects and Construction for Cambior Inc. for over 12 years. In particular, he was responsible for all the company's projects, acquisitions and studies, including scoping, prefeasibility and feasibility studies, as well as site construction, start-up and reclamation, related to surface installations.
Strateco is presently well funded in terms of the work planned for 2007, with about $10 million in cash and the possibility of adding $5.4 million by forcing the exercise of 3.6 million warrants at $1.50, with the conditions required for exercise have already been met.
Qualified Person
Jean-Pierre Lachance, geologist, is the qualified person as defined by National Instrument 43-101. He has over 30 years of experience in mining exploration.
I think we got the answer Litex.
This would then explain the + 16.80% of Mawson (without any news).
Anyway, I bought SAN a month ago (0,37$) for the reasons I mentioned previously and will keep it for a while. With or without Dines!
It has been stated (e.g. Grandich, Roulston, etc.)that CrossHair Exploration’s development is trailing AXU by about one year. Since CXX was about the same value as SAN 1 year ago, Santoy could possibly be trailing CXX by ~ 1 year. They are still at the "Grass root" stage..
Cxx ~ 1/4 AXU's market cap
SAN < 1/6 CXX's market cap
A lot of room.
This is only my opinion..
SAN claims are surroundings hot CXX's discoveries.
I think SAN is following the run CXX is having. Same thing as CBP with RSC (look both charts). SAN was late but finally cath up a bit of CXX ride. Their claims look very promising to me. Geophysic maps show several anomalies expanding on SAN land..
By the way what a ride we are having with CXX !!!
Tournigan Gold Corporation Extends Known Mineralization at Jahodna
Vancouver, British Columbia CANADA, Nov 08, 2006 (M2 PRESSWIRE via COMTEX News Network) --
Tournigan Gold Corporation (TVC - TSX Venture, TGP - FWB), is pleased to announce that it has received geochemical assay results from five drill holes of a planned eighteen-hole, 6200-metre diamond-drill program currently in progress at its Jahodna uranium project in the Republic of Slovakia. With these partial drill results, known uranium mineralization at Jahodna is now extended approximately 50 metres below (down-dip of) the deepest known mineralized drill hole and approximately 100 metres along strike to the southeast. In addition to exploring for extensions to the deposit, a number of in-fill holes were drilled to attempt to upgrade the reliability of the current inferred resource.(1) The deposit is open to depth and along strike.
"We are pleased with the initial Jahodna drill results as they indicate that the current mineralization extends down dip and along strike beyond its previous boundaries", said James Walchuck, President and CEO of Tournigan Gold Corporation. "This exploration drill program is just a small part of a regional exploration program planned on the 40-kilometre trend between the Jahodna and Novoveska Huta properties."
All drill holes indicated in this release have drill targets at total depths of between 380 metres and 596 metres. Assays received from the current Jahodna drill program are as follows:
-***-
------------------------------------------------------------------------ -------- *Percent U3O8 Percent Molybdenum Drill Hole Number Interval (core length) Geochem assays Geochem assays ------------------------------------------------------------------------ -------- KG-J-9 2.0 m (491.5 - 493.5 m) 0.56 0.072 ------------------------------------------------------------------------ -------- Including 1.0 m (492.5 - 493.5 m) 0.88 0.081 ------------------------------------------------------------------------ -------- Including 0.5 m (492.5 - 493.0 m) 1.36 0.081 ------------------------------------------------------------------------ -------- KG-J-4 1.20 m (545.2 - 546.4 m) 0.20 Not significant Including 0.8 m (545.2 - 546.0 m) 0.24 ------------------------------------------------------------------------ -------- KG-J-10 1.0 m (375.8 - 376.8 m) 0.20 Not significant ------------------------------------------------------------------------ -------- KG-J-3 0.6 m (327.4 - 328.0 m) 0.12 0.080 ------------------------------------------------------------------------ -------- KG-J-12 0.8 m (389.0 - 389.8 m) 0.05 Not significant ------------------------------------------------------------------------ --------
-****-
*All uranium analytical data are reported by the lab and received by Tournigan as ppm-U (uranium metal) and subsequently converted for presentation by Tournigan to %-U3O8 using a conversion factor of 1.17.
Drill Hole Interpretation
Of particular significance is drill hole KG-J-9, which revealed a new zone of high-grade uranium mineralization located approximately 150 metres southeast and 100 metres further down-dip of the previously known zone of high-grade mineralization (i.e. KG-J-1a which ran 10.33% U3O8 over 0.9 metres core length, and KG-J-2 which contained an intersection of 1.32% U3O8 over 1.1 metres).
Drill holes KG-J-3 and KG-J-12 contain mostly fault gouge and lower values of U3O8. It is believed that both these holes intercepted un-mineralized steeply-dipping faults at low angles and followed the fault gouge throughout much of the length of the holes. The Jahodna property contains a number of late brittle faults containing abundant fault gouge which is typically barren of mineralization.
Jahodna Inferred Resource
Tournigan owns 100% of the Jahodna exploration and mining licenses in eastern Slovakia. The Jahodna deposit currently hosts an inferred resource of 18.2 million lbs of uranium oxide (U3O8) at a grade of 0.656% U3O8 contained in 1,256,000 tonnes with a cut-off grade of 0.035% U3O8. An independent preliminary assessment(2) on Jahodna, prepared by ACA Howe International Ltd. and delivered to Tournigan in April, 2006, modeled an underground operation with a per annum production rate of 100,000 tonnes. Production costs were estimated at US$9.15 per pound for an estimated IRR of 44% using a US$35.00 uranium price.
The dimensions of the existing Jahodna resource block(1) are approximately 500 metres along strike and 500 metres down-dip and averaging about 2.5 metres thick. Results from the initial five drill holes reported here have filled some of the gaps in the existing resource block, therefore advancing the level of confidence regarding continuity of uranium mineralization within the known deposit. Pending assay results from completed drill holes and results from in-progress and planned drill holes are expected to further clarify the level of mineralization-continuity within the deposit and the dimensions of the deposit.
Uranium-molybdenum mineralization occurs at the Jahodna deposit as strata-bound lenses of uranium-oxide and copper-molybdenum sulfide minerals ? ptygmatic-folded quartz-carbonate veins localized along the steep-to-moderate dipping contact of overlying meta-volcanic rocks (andesite flows and tuffs) and underlying meta-sedimentary rocks (slates and quartzites).
Additional Drilling
There are six drill holes currently awaiting geochemical analysis. Final geochemical analyses of these holes are expected in January. All holes in this program, both completed and planned, are illustrated in the attached schematic longitudinal vertical projection. In addition, there are six additional holes representing up to 1,400 metres of drilling which are expected to be completed by year-end.
For A Detailed Map Of The Planned Drill Program On The Jahodna Deposit, Click here.
http://www.usetdas.com/maps/TourniganGold/tourniganMAPnov8.pdf
Notes on Methodology and QA/QC
Jahodna drill core are transported to the Kremnica site where geological logging, preliminary interpretation, and sample interval selection takes place. At Kremnica, selected sample intervals are sawn in half and 1/2 of the split-core is transported to an ALS Chemex sample preparation lab in Sweden, where they are crushed, pulverized and resultant pulps are prepared for transport to ALS Chemex lab in Vancouver, Canada for geochemical analysis. ALS Chemex's North Vancouver laboratory has ISO 9001:2000 registration. It has also received ISO 17025 accreditation from the Standards Council of Canada under CAN-P-1579 "Guidelines for Accreditation of Mineral Analysis Testing Laboratories". Half of the Jahodna split-core is stored at Kremnica. The Kremnica preparation lab has been audited by ALS Chemex and the sampling procedure has met ALS Chemex guidelines.
Dr. Kent Ausburn, VP Exploration, Tournigan Gold, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Drill hole planning, implementation and the quality control program for this Jahodna drill program are also supervised and approved by Dr. Ausburn.
(1) The Jahodna mineral resource estimate has been prepared by ACA Howe International Ltd. in a National Instrument 43-101 compliant technical report entitled "Jahodna Uranium Project, Slovakia", dated March 28, 2006. Mineral resources do not have demonstrated economic viability.
(2) Note that this preliminary assessment is by definition preliminary in nature and is based on an inferred resource that is currently considered too speculative geologically to have the economic considerations applied to it that would enable it to be categorized as a mineral reserve, according to Definition Standards of the Canadian Institute of Mining, Metallurgy and Petroleum. Generally, an economic evaluation would only be completed on measured and indicated Resources, and there is no certainty that this preliminary assessment will be realized.
Tournigan Gold is focused on developing advanced mineral projects in Europe - Kremnica (gold) and Jahodna (uranium/molybdenum) in Slovakia, and Curraghinalt (gold) in Northern Ireland. Tournigan's asset mix also includes a portfolio of uranium properties in Slovakia, Wyoming, South Dakota and Arizona, as well as VMS projects in Slovakia and Northern Ireland.
On behalf of the Board of Directors of
TOURNIGAN GOLD CORPORATION
"James Walchuck" James Walchuck, President and CEO
Re Lundin says take some profits with Crosshair
In it's mid-October newsletter, Doug Casey tells URE investors to take some profits off the table too. Price has going up too fast on rumor he said. Which I did last week.
5 day latter... URE is 31% up..
NOW? I HOLD ON !!
I would add URE, IUC, CXX and maybe TVC (gold and uranium).
I'm surprise Nosleep you are in SAN without talking about their neighbour CXX (Labrador). CXX looks very promising to me. A lot of results should come since Christmas. My best guess for the next two months. In at 1,51$
By the way, I still believe STM is cheap under 2.00$
Tournigan Receives Positive Results From Uranium Properties in Arizona
Tournigan Gold Corporation (TSX-V: TVC) (FRANKFURT: TGP) is pleased to announce receipt of positive results from an ongoing exploration program on its Arizona Strip uranium breccia pipe targets. To date, a soil geochemical survey of 65 probable collapse breccia pipes has returned a number of pathfinder anomalies on 17 of the pipes, which may indicate the presence of uranium. Tournigan has therefore initiated the next phase of exploration, to include select ground CSAMT and magnetics geophysical surveys as well as radiometric surveys in preparation for drill testing.
A drilling contractor experienced in exploration drilling of Arizona Strip breccia pipes will be retained, with a planned drilling start date of mid-November.
Tournigan has also staked an additional five collapse structures in the same area, which are considered possible uranium breccia pipes. Initial geologic mapping and soil geochemistry sampling programs have begun on these targets. Tournigan now has a portfolio of 84 potential to probable breccia pipe targets in the Arizona Strip.
Other Projects
Tournigan has exploration drill programs underway at the Jahodna uranium project in Slovakia and the Curraghinalt gold project in Northern Ireland. Seven of the 17 Phase 1 holes at Jahodna have now been dispatched for analysis, while 7 holes have been completed in Northern Ireland. Tournigan has also begun geological, geotechnical and metallurgical drilling at the Sturec deposit on the Kremnica gold project in support of the future final feasibility study. Results for each of these programs will be released as soon as they are available.
Tournigan Gold Corporation is focused on developing advanced mineral projects in Europe -- Kremnica (gold) and Jahodna (uranium/molybdenum) in Slovakia, and Curraghinalt (gold) in Northern Ireland. Tournigan's asset mix also includes a portfolio of uranium properties in Slovakia, Wyoming, South Dakota and Arizona.
Joseph Ringwald, PEng, the Company's VP Technical Services and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.
TOURNIGAN GOLD CORPORATION
"James Walchuck" James Walchuck, President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
Distributed by Filing Services Canada and retransmitted by Market Wire
Thanks for your comment trosh1. I agree with you.
I still believe there's good time ahead for STM. I kept all my positions.
Moreover SXR Uranium One could do one more acquisition in 2006 (http://stockinterview.com/SXR.html). STM and URE are consider serious candidates...
Chamane
IUC Announces Mining Contractors Signed, Ore Shipments to Commence in October
VANCOUVER, BRITISH COLUMBIA, Sep 14, 2006 (CCNMatthews via COMTEX News Network) --
International Uranium Corporation ("IUC" or the "Company") (TSX:IUC) is pleased to announce that it has reached an agreement with Reliance Resources, LLC to conduct contract mining at the Company's Pandora Mine in the U.S. Reliance is based out of Moab, Utah and is a locally owned business operating in the Moab area for the last several years. The Pandora Mine, located near LaSal, Utah (part of the Deer Creek complex, please see attached map, http://www.ccnmatthews.com/docs/iuc0914.jpg) is a previously developed mine last operated in the late 1980's. Mining activities are well underway and ore shipments to the Company's White Mesa Mill in Blanding, Utah will begin in early October. In addition to the re-start of mining operations in existing areas, Reliance will conduct additional mine development as needed to further expand into previously un-developed areas.
IUC has also reached an agreement with Tomcat Mining Corporation for drift development work on the Topaz Mine (part of the Sunday Mine complex), located in the Big Gypsum Valley in eastern Colorado. The Topaz development work which is progressing well, involves approximately 1,300 feet of access drift leading to several areas of undeveloped ore. Tomcat Mining is based out of Naturita, Colorado and is a locally owned company.
Tomcat Mining has also been contracted to begin mining in the West Sunday and St. Jude Mines in Colorado (part of the Sunday Mine complex). The West Sunday and St. Jude were last mined in 1999 by IUC and are fully developed mines ready for production once utilities and ventilation are re-established, which is nearing completion.
IUC is also in final negotiations with a third contractor for mining and development on the Sunday and GMG mines.
Initial production rates for the first year of production are currently budgeted at approximately 3.2 million pounds uranium and 4.7 million pounds of vanadium.
Ron Hochstein, President of IUC, commented, "This is a major milestone in the development of our U.S. mining operations. We are very pleased to be working with top-rated, highly experienced mine contractors. Ore shipments to our mill are about to commence and as the newest U.S. uranium producer, we look forward to a whole new phase of growth for the Company."
IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company is a significant shareholder in Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Russia, Nicaragua and Mongolia.
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
United States investors are advised that while the term resources is recognized by Canadian regulations, SEC does not recognize that term. Investors are cautioned not to assume that all or any part of mineral deposits in this category will ever be converted into reserves.
On behalf of the Board,
Ron F. Hochstein, President and C.E.O.
SOURCE: International Uranium Corporation
International Uranium Corporation Sophia Shane Corporate Communications (604) 689-7842 (604) 689-4250 (FAX) www.intluranium.com
Copyright (C) 2006 CCNMatthews. All rights reserved.
Wow thats a great increase!
Train keeps rolling!
ps. Thanks trosh1 for your point of view. I'll keep a strong position in URE and STM until the annoncement of the last acquisition by SXR which I believe will be URE .. or maybe STM..
StockInterview.com: SXR Uranium One CEO Wants to Buy Another U.S. Uranium Company in 2006
SARASOTA, Fla., Jul 20, 2006 (M2 PRESSWIRE via COMTEX News Network) --
Two acquisitions were not enough for SXR Uranium One (TSX: SXR) Chief Executive Neal Froneman. During a tape-recorded interview, Froneman was asked if he would acquire another uranium company in 2006. "I do believe that we should probably do one more transaction," Froneman told StockInterview.com. We asked him about whether such a company might be Energy Metals (TSX: EMC), Strathmore Minerals (TSX: STM) or UR-Energy (TSX: URE). Froneman told StockInterview.com. "There are a number of companies - some of them that you mentioned that are obvious or logical targets." Later, he told the interviewer, after specific companies were discussed, "I think you have a good understanding of who the appropriate players are."
Other hints Froneman dropped during the 45-minute taped interview included, "That transaction is very much going to be focused on getting a good skills base. And, of course, it will come with good assets. We are particularly interested in people that have taken their projects forward." Froneman added another clue during the interview, "We are, at this stage, an advanced development company that very shortly will be a uranium producer as well. We have to ensure that we merge with companies that have similar qualities."
During another moment of the interview, while discussing the merits of underground uranium mining versus the ISR (in situ recovery) method, Froneman again brought up another hint at the qualities of his next takeover or merger candidate, "It would be very nice to merge with a good quality ISR company in the U.S. We just don't have any properties in the U.S. that are ISR. There may be one or two opportunities, but it is not something we specifically are trying to acquire. Of course, through these potential future mergers, we may become a significant ISR producer as well."
(More info on http://stockinterview.com/SXR.html)
To trosh1
I wondered what makes you so reticent about STM,in which I am strongly IN and looked promising to me..
Very interested by your your reply.
Chamane
LOL. We won't have to wait long to see; According to the rumor, RSC will publish their results in about 2 weeks...
Right! There's a running rumor they've intersect 7% U2O3 in hole #10
And now we understand why the "key value" of 0,1% is so significative for mining operations!
Values of 1% and more are not frequent in majority of drill holes (except for Athabaska -style mineralisations)and with it occurs it is taken very seriously by the administration! That's why cies like RSC.v are making all their publicities (in hoping to be buy by Cameco or other majors)with one hole grading 1.5 % on 9,5 m
To johnlw: You're right. And I'm in into JNN But there are so many data to take into acount in comparing uranium mines vs gold mines; Recovering price, mining processes, exploration and production costs, etc.. vary so much with mineralisation types.
Chamane
ps. Thanks so much to oasdihf, johnlw, earthfarm and others to get us inform on uranium cies. I read you since months and you are so quick to post news!
Hey guys, your calculations are too low simply because:
1% U3O8 = 22.046 lbs / metric tonne (since 1 metric tonne = 1000Kg ! ... 1% = 10 kg..)