Owner
Post by Franko10 ™ on Nov 1, 2006 8:57:57 GMT -5
N E W S R E L E A S E
October 31, 2006 - Saskatoon, Saskatchewan – Star Uranium Corp. (SUV – TSX Venture): The Company is pleased to announce that it has signed a letter of intent with Golden Band Resources Inc. (TSX Venture – GBN) whereby the Company is selling its 50% interest in three mineral claims in the Dickens Lake area of northern Saskatchewan to Golden Band. The Company will receive $20,000 and 150,000 shares of Golden Band as payment and will retain a 1% net smelter return royalty in the properties. Golden Band will have the right to reduce the royalty to 0.5% by making a cash payment of $250,000 to Star Uranium The Company also reports that Mr. Ralph Newson of Saskatoon, P.Eng., P.Geo. and the Qualified Person on Star’s Smeaton, SK diamond property has received results from the Saskatchewan Research Council lab on samples submitted from two drill holes on the Carolyn kimberlite. Analysis of approximately 210.9 kg of split NQ core from holes C4 and C5 yielded 6 diamonds.
The other half of the split core has been retained in a secure building. Analysis was by total dissolution using caustic fusion, carried out by the Saskatchewan Research Council, which is certified under ISO 17025.
Sample A, representing core from 194.4 m to 207.9 m depth in hole C4, and having a mass of 27.8 kg, yielded 1 diamond retained on the 150 micron screen, 2 diamonds on the 106 micron screen, and 1 diamond on the 75 micron screen. Sample A was a light grey coloured, fine-grained calcitic kimberlite.
Sample D, representing the interval from 169.4 m to 193.8 m in hole C5, and having a mass of 47.25 kg, yielded 1 diamond on the 212 micron screen. Sample E, representing the interval from 147.7 m to 169.4 m in the same hole, and with a mass of 43.1 kg, yielded 1 diamond on the 106 micron screen. Samples D and E were both fine- to medium-grained lappilli tuffs, with sample E having more of the medium-grained sized lappilli.
Hole C5 is about 47 m north of hole C4. Hole C4 is about 34 m west of hole C1, and hole C5 is about 29 m west of hole C2, both previously reported in a press release dated June 15, 2004. A total sample weight of approximately 386 kg from holes C1 and C2 returned 2 diamonds on the 106 micron screen. Hole C3, drilled about 48 m east of hole C1, failed to intersect the Carolyn kimberlite. Further exploration in this area is planned for early 2007.
For more information please visit our website at www.staruranium.com.
ON BEHALF OF THE BOARD
"Rick Walker"
Rick Walker,
President
The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of This News Release.
Contact:
Star Uranium Corp.
Rick Walker, 306-664-3828
Facsimile: 306-244-0042
www.staruranium.com
info@staruranium.com
October 31, 2006 - Saskatoon, Saskatchewan – Star Uranium Corp. (SUV – TSX Venture): The Company is pleased to announce that it has signed a letter of intent with Golden Band Resources Inc. (TSX Venture – GBN) whereby the Company is selling its 50% interest in three mineral claims in the Dickens Lake area of northern Saskatchewan to Golden Band. The Company will receive $20,000 and 150,000 shares of Golden Band as payment and will retain a 1% net smelter return royalty in the properties. Golden Band will have the right to reduce the royalty to 0.5% by making a cash payment of $250,000 to Star Uranium The Company also reports that Mr. Ralph Newson of Saskatoon, P.Eng., P.Geo. and the Qualified Person on Star’s Smeaton, SK diamond property has received results from the Saskatchewan Research Council lab on samples submitted from two drill holes on the Carolyn kimberlite. Analysis of approximately 210.9 kg of split NQ core from holes C4 and C5 yielded 6 diamonds.
The other half of the split core has been retained in a secure building. Analysis was by total dissolution using caustic fusion, carried out by the Saskatchewan Research Council, which is certified under ISO 17025.
Sample A, representing core from 194.4 m to 207.9 m depth in hole C4, and having a mass of 27.8 kg, yielded 1 diamond retained on the 150 micron screen, 2 diamonds on the 106 micron screen, and 1 diamond on the 75 micron screen. Sample A was a light grey coloured, fine-grained calcitic kimberlite.
Sample D, representing the interval from 169.4 m to 193.8 m in hole C5, and having a mass of 47.25 kg, yielded 1 diamond on the 212 micron screen. Sample E, representing the interval from 147.7 m to 169.4 m in the same hole, and with a mass of 43.1 kg, yielded 1 diamond on the 106 micron screen. Samples D and E were both fine- to medium-grained lappilli tuffs, with sample E having more of the medium-grained sized lappilli.
Hole C5 is about 47 m north of hole C4. Hole C4 is about 34 m west of hole C1, and hole C5 is about 29 m west of hole C2, both previously reported in a press release dated June 15, 2004. A total sample weight of approximately 386 kg from holes C1 and C2 returned 2 diamonds on the 106 micron screen. Hole C3, drilled about 48 m east of hole C1, failed to intersect the Carolyn kimberlite. Further exploration in this area is planned for early 2007.
For more information please visit our website at www.staruranium.com.
ON BEHALF OF THE BOARD
"Rick Walker"
Rick Walker,
President
The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of This News Release.
Contact:
Star Uranium Corp.
Rick Walker, 306-664-3828
Facsimile: 306-244-0042
www.staruranium.com
info@staruranium.com
