UCR Traces Potential On-Strike Extension of East Target Over 2,000 Foot Strike Length
Release Date: November 14, 2006
10:29 EST Tuesday, November 14, 2006
TORONTO, Nov. 14 /CNW/ – Uranium City Resources Inc (UCR:TSX.V, A0F7F5:Berlin) (“UCR” or the “Company”) today announced an update of its ongoing drilling and exploration campaign at the East Target. UCR has to date completed a total of 16 holes at this target and recently conducted a detailed scintillometer survey around it.
The scintillometer survey performed by UCR geologists outlined an anomalous trend of radioactivity extending from East Target along a strike length of approximately 2,000 feet. Scintillometers measure radioactivity in “counts-per-second” (CPS). Values encountered during this survey had an average background of approximately 50-100 CPS and the anomalous values were typically several thousand CPS. A large difference between the anomalous values and the background is indicative of significant radioactivity and is thus an effective tool for uranium exploration. Most encouragingly, the survey can also be regarded as geologically significant because the anomalous trend is parallel to the St. Louis Fault, which is located approximately 1,200 feet to the South. The St. Louis Fault hosted the three largest uranium mines in the Uranium City camp. The Ace, Fay and Verna mines were all situated on or adjacent to the St. Louis Fault.
Bob Kasner, CEO of UCR said, “Our goal is to expand the size of the East Target, which would support the potential to increase the existing historical resource.” The results of the scintillometer survey are extremely encouraging and will help us to further focus our ongoing drilling.”
UCR will be evaluating this recently identified anomalous extension to determine its potential for future drilling. Assay results from the East Target drilling campaign are pending and will be released in the coming weeks.
The technical information in this news release has been reviewed by John Cook, P. Eng., a qualified person as defined by National Instrument 43-101.
About Uranium City Resources:
Uranium City Resources has a number of 100% owned uranium projects within the Uranium City Mining District, an area with over 30 years of past mining and nearly 70 million pounds of uranium production. Since 2005, the Company has spent over C$3 million exploring its properties and has outlined numerous uranium targets. Recent drill programs have confirmed the presence of uranium mineralization and drilling is to continue throughout 2006.
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.
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