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International Ranger Corp. Expands Utah Uranium Projects
VANCOUVER, BRITISH COLUMBIA, Jan 10, 2007 (CCNMatthews via COMTEX) -- International Ranger Corp. (PINK SHEETS:IRNG) is very pleased to announce it has expanded its land position surrounding its Koorsharem and East Henry Mountain Uranium Project in Utah.
The Koorsharem project area was expanded to 109 claims with the addition of 95 new claims staked along a highly anomalous radioactive zone. These claims were staked after getting highly elevated readings over a 50 foot exposure along a high wall within a gray altered rhyolite flow in the southern block of claims. This flow was traced to the north for over one mile where a large surface area returned the same elevated readings. The flow on the northern end of the exposure is characterized by banded chalcedonic quartz fracture filling in a high density fracture zone. The flow has a shallow dip to the southeast with outcrops over an area one mile in width. Exploration continues to locate high angle high grade uranium rich structures similar to those mined in the Central Mining District approximately 12 miles to the west and adjacent to the blanket like uraniferous zone being explored by Trigon Uranium.
East Henry Mountain Mining District
In addition to the 45 claims acquired by International Ranger in the historically productive East Henry Mountain Mining District, named the Hot Rocks Uranium project, 16 more claims were staked along a zone of mineralization near the base of the Chinle Formation and into channels cut into the Moenkopi Formation. Several small prospect pits and adits have exposed mineralization of disseminated tobernite specks. These tobernite specks are found in both mudstone and sandstone, small amounts of carbon trash is unevenly distributed throughout this bedded zone. Several drill holes were located and mapped.
The Hot Rocks Uranium Prospect is located 18 miles south-southeast of the Town of Hanksville in the Orange Cliff Mining Area of the Henry Mountains mining district, in Garfield County, Utah.
The Prospect comprises 7 separate assemblages of properties in the same geologic and geographic environment, all within 10 miles of one another. The total acreage of the present claims and pending leases is 5,661 acres, or 8.85 square miles. Six of the assemblages are outside the historic Hot Rocks site.
A report by the US Bureau of Mines, dated 4, April 1974, speaking of the vicinity of the Hot Rocks site, stated: "Fourteen prospects and mines not including the Hot Rock claim group area were reported to the Utah Geological Survey in 1974. Ten of... these areas reported what was then considered reserves, based on private exploration to include drilling, indicating a total of 166,625 tons with an average grade of 0.2% U308 totalling over 630,000 pounds of uranium in the ground. The fourteen prospect and mines mentioned in the US Bureau of Mines report, as well as the prospects being acquired by International Ranger, are both in the Monitor Butte formation in the Orange Cliff mining area. At the time the report was written, the properties being acquired by International Range had not yet been identified as containing radioactive resources." These reserves were estimated prior to the implementation of NI 43-101 and have not been verified by the company. They are quoted as historical reference, but the company believes they are relevant to the exploration potential of the project and is planning an exploration program to investigate the mineralization.
The Koorsharem Uranium Prospect consist of six mining claims located east of the Marysvale Mining District in Piute County, Utah approximately 195 miles south of Salt Lake City. The Prospect is covered with volcanic rocks, locally known as the Bullion Canyon Volcanics and contain many zones of pervious tuffs and volcanic debris.
Importantly, this area shows similarity to the zone of uraniferous rocks, also in the Bullion Canyon Volcanics less than six miles to the west, in the Central Mining District east of Marysvale, Utah, where Phillips uranium drilled and radiometricly logged over 190 exploratory holes between 1978-1981 The Bullion Canyon Volcanics are found in the Marysvale Volcanics Field, and historically, these volcanics produced high-grade uranium with values ranging as high as 10% U308. The anomalous readings on the Project claims ranged from 0.03 MR/HR to 0.085 MR/HR covering large areas (MR/HR is Milirotengn per Hour, .1 MR/HR is equal to 1% U3O8). Background readings for the area average at 0.015 to 0.0185 MR/HR (equivalent to an average grade of 0.04% to 0.17% U3O8). These reserves were estimated prior to the implementation of NI 43-101 and have not been verified by the company. They are quoted as historical reference, but the company believes they are relevant to the exploration potential of the project and is planning an exploration program to investigate the mineralization.
The company is excited about these projects and feels they will be an important part of the continuing growth of the company as a Uranium Junior.
Jo Shearer M.Sc, P.Geo., a Qualified Person under NI 43-101 has approved the technical content of this news release.
On Behalf of Board of Directors
