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Post by Franko10 ™ on Dec 9, 2004 12:31:44 GMT -5
International Uranium Corporation: Moore Lake Uranium Project Update
12/9/2004 1:25:13 PM
VANCOUVER, BRITISH COLUMBIA, Dec 9, 2004 (CCNMatthews via COMTEX) -- International Uranium Corporation (CA:IUC) ("IUC") and JNR Resources Inc., jointly the "Companies", are pleased to provide an update on their summer diamond drilling program on the Moore Lake uranium project, located in the Athabasca Basin of northern Saskatchewan.
The summer program was completed in late October, 2004 and consisted of 33 holes (ML-47 to -71 and ML-501 to -508), totaling 12,437 metres. Geochemical results have now been received for all but the last four holes drilled.
Ron Hochstein, President of International Uranium, commented, "We've had a highly successful summer program and we look forward to continuing our success in the upcoming winter program. Our work this summer expanded the high grade Maverick Zone significantly and brought into focus the excellent exploration potential along a 3 kilometre structural corridor extending from the Maverick Zone."
Phase 1 of the summer program focused on better defining the grade and extent of the main mineralized lens at the Maverick Zone. The results, as previously reported, included a number of high-grade intersections: 4.03% eU3O8 over 10.0 metres (including 19.96% eU3O8 over 1.4 metres; ML-61); 5.14% U3O8 over 6.2 metres (ML-55) and 4.01% U3O8 over 4.7 metres (ML-48).
Phase 2 was largely focused on the Maverick structural corridor, to the northeast and southwest of the main zone. A number of geological holes were also drilled to better define the lithological and structural geology of the corridor itself.
Eight holes tested the corridor to the northeast of the main zone. They were drilled on section with drill holes from this past winter, ranging from 175 to 1,075 metres northeast of the discovery hole, ML-25. All of the holes were strongly altered, structurally disrupted and returned highly anomalous geochemistry, specifically uranium and boron. The best result was from ML-501, an angle hole that tested the corridor 475 metres northeast of ML-25 and assayed 0.26% U3O8 over 5.0 metres. These results are very encouraging, particularly given that the individual sections are 150 metres apart. A systematic infill-drilling program to test between the anomalous sections is warranted and will be conducted this winter. Also of note is that the Maverick structural corridor is interpreted geophysically to extend a minimum of 1,500 metres to the northeast of the current drilling.
Five holes tested the structural corridor to the southwest of the main zone over a distance of 400 metres. These holes also returned highly anomalous geochemical results, which in combination with the geology suggest they were either too far into the footwall or the hanging wall of the mineralized system. Multiple graphitic horizons and structures are also evident in this southwest direction. The best result was from ML-57 which was collared 30 metres southwest of ML-03 & -29, and assayed 0.648% U3O8 over 2.5 metres. This intersection was hosted entirely by sandstone and is similar in character to that of previously reported ML-49 (2.41% U3O8 over 4.5 metres). Further drilling is clearly required to define the extent of the mineralization in this area.
Six holes were drilled in the area of the main mineralized lens with the intent of closing off previously reported intersections. The geochemical results from two of these holes have yet to be received. Of the other four, the best result was from ML-63, which was collared five metres south of ML-48 and assayed 0.432% U3O8 over 2.5 metres.
The geological holes have better defined the lithological and structural geology of the Maverick structural corridor. The most interesting of these holes was ML-507, which was collared 100 metres south of the main mineralized lens and also targeted an EM conductor interpreted to be present at a depth in excess of 500 metres. Although it did not intersect any significant radioactivity, multiple graphitic horizons, some of which were structurally disrupted and altered, were intersected at vertical depths of between 540 and 630 metres. Geochemical results from the corresponding basement samples are pending.
The Companies are very pleased with these results and have approved an extensive program for the winter of 2004-05. Currently underway, this program will include 200 kilometres of line cutting and/or re-establishing several grids in the general Maverick area and property-wide. This will be followed up with a combination of ground EM and magnetics, gravity surveys and a seismic survey over the Maverick structural corridor.
A diamond drilling program comprising 15,000 metres and utilizing 3 drills will be underway by mid-January. It will focus on: (a) following up the anomalous results along the structural corridor, northeast and southwest of the main Maverick mineralized zone, (b) test geophysically defined targets on newly gridded areas along the corridor, and (C) test a number of targets that were identified by the 2002 winter program on four regional grids, as well as newly defined targets.
All results and technical information were obtained, verified and compiled under a formal quality assurance and quality control (QA/QC) program. JNR's President, Richard T. Kusmirski, P Geo, and Exploration Manager, David L. Billard, P Geo, are the Qualified Persons, pursuant to NI 43-101, responsible for the technical data presented in this release. IUC's President, Ron Hochstein, P.Eng., a Qualified Person pursuant to NI 43-101, has reviewed the results and technical information as well as the adequacy of the analytical procedures. Please see below for further information on gamma probe results, assay methods and quality control procedures.
Processes for Determining Uranium Content
Exploration for uranium deposits typically involves the identification of graphitic conductors and structure using TEM, magnetics and gravity, followed up by diamond drilling. Due to the nature of the mineralization in these deposits core recovery can be poor within the mineralised zones. For that reason, it is standard operating procedure in uranium exploration to run a down hole radiometric log, whereby grade equivalents (%e U3O8) can be calculated for a drill hole.
The radiometric (gamma) log measures natural gamma radiation which is measured by a Sodium Iodide crystal, which when struck by a gamma ray emits a pulse of light. This pulse of light is then amplified by a Photo multiplier tube, which outputs a current pulse. The current pulse is carried up a conductive cable and is collected by a computer. In effect, the stronger the gamma radiation, the greater the concentration of uranium and the stronger the current pulse.
The gamma log is obtained by lowering a gamma probe down the drill hole. A very accurate counting wheel measures the speed and depth of the probe as it is lowered down the hole. The probe sends a gamma pulse up the cable to the computer every ten centimetres of travel and the data is recorded by the computer. The resultant data is then subjected to a complex set of mathematical equations, taking into account the specific parameters of the probe used, speed of logging, size of bore hole, drilling fluids and presence or absence of and type of drill hole casing.
The basis of the grade calculations however, is the sensitivity of the sodium iodide crystal used in each individual probe. Each probe's sensitivity is therefore measured against a known set of standard "test pits" located at the Saskatchewan Research Council's (SRC's) facilities in Saskatoon. There are four pits, three of which contain 1.5 metres of mineralization at grades of 600 ppm, 2800 ppm and 1.07% U respectively, and one pit which contains 21 cm of 4.45% U. Values for the "k-factor" and "dead time" of each probe are obtained from the data obtained from the test pits. Once these two values are known they may then be applied to the mathematical formulae for grade calculation.
It should be noted that in a direct comparison of probe results versus geochemical results (where core recovery is a minimum of 95%), probe results tend to return lower values than geochemical ("true") grades. This is due to the methodology employed by the probe, and is widely acknowledged within the Uranium industry.
At SRC's facilities, samples are sorted according to radioactivity, dried and processed as follows:
- Samples are processed from lowest to highest radioactivity.
12/9/2004 1:25:13 PM
VANCOUVER, BRITISH COLUMBIA, Dec 9, 2004 (CCNMatthews via COMTEX) -- International Uranium Corporation (CA:IUC) ("IUC") and JNR Resources Inc., jointly the "Companies", are pleased to provide an update on their summer diamond drilling program on the Moore Lake uranium project, located in the Athabasca Basin of northern Saskatchewan.
The summer program was completed in late October, 2004 and consisted of 33 holes (ML-47 to -71 and ML-501 to -508), totaling 12,437 metres. Geochemical results have now been received for all but the last four holes drilled.
Ron Hochstein, President of International Uranium, commented, "We've had a highly successful summer program and we look forward to continuing our success in the upcoming winter program. Our work this summer expanded the high grade Maverick Zone significantly and brought into focus the excellent exploration potential along a 3 kilometre structural corridor extending from the Maverick Zone."
Phase 1 of the summer program focused on better defining the grade and extent of the main mineralized lens at the Maverick Zone. The results, as previously reported, included a number of high-grade intersections: 4.03% eU3O8 over 10.0 metres (including 19.96% eU3O8 over 1.4 metres; ML-61); 5.14% U3O8 over 6.2 metres (ML-55) and 4.01% U3O8 over 4.7 metres (ML-48).
Phase 2 was largely focused on the Maverick structural corridor, to the northeast and southwest of the main zone. A number of geological holes were also drilled to better define the lithological and structural geology of the corridor itself.
Eight holes tested the corridor to the northeast of the main zone. They were drilled on section with drill holes from this past winter, ranging from 175 to 1,075 metres northeast of the discovery hole, ML-25. All of the holes were strongly altered, structurally disrupted and returned highly anomalous geochemistry, specifically uranium and boron. The best result was from ML-501, an angle hole that tested the corridor 475 metres northeast of ML-25 and assayed 0.26% U3O8 over 5.0 metres. These results are very encouraging, particularly given that the individual sections are 150 metres apart. A systematic infill-drilling program to test between the anomalous sections is warranted and will be conducted this winter. Also of note is that the Maverick structural corridor is interpreted geophysically to extend a minimum of 1,500 metres to the northeast of the current drilling.
Five holes tested the structural corridor to the southwest of the main zone over a distance of 400 metres. These holes also returned highly anomalous geochemical results, which in combination with the geology suggest they were either too far into the footwall or the hanging wall of the mineralized system. Multiple graphitic horizons and structures are also evident in this southwest direction. The best result was from ML-57 which was collared 30 metres southwest of ML-03 & -29, and assayed 0.648% U3O8 over 2.5 metres. This intersection was hosted entirely by sandstone and is similar in character to that of previously reported ML-49 (2.41% U3O8 over 4.5 metres). Further drilling is clearly required to define the extent of the mineralization in this area.
Six holes were drilled in the area of the main mineralized lens with the intent of closing off previously reported intersections. The geochemical results from two of these holes have yet to be received. Of the other four, the best result was from ML-63, which was collared five metres south of ML-48 and assayed 0.432% U3O8 over 2.5 metres.
The geological holes have better defined the lithological and structural geology of the Maverick structural corridor. The most interesting of these holes was ML-507, which was collared 100 metres south of the main mineralized lens and also targeted an EM conductor interpreted to be present at a depth in excess of 500 metres. Although it did not intersect any significant radioactivity, multiple graphitic horizons, some of which were structurally disrupted and altered, were intersected at vertical depths of between 540 and 630 metres. Geochemical results from the corresponding basement samples are pending.
The Companies are very pleased with these results and have approved an extensive program for the winter of 2004-05. Currently underway, this program will include 200 kilometres of line cutting and/or re-establishing several grids in the general Maverick area and property-wide. This will be followed up with a combination of ground EM and magnetics, gravity surveys and a seismic survey over the Maverick structural corridor.
A diamond drilling program comprising 15,000 metres and utilizing 3 drills will be underway by mid-January. It will focus on: (a) following up the anomalous results along the structural corridor, northeast and southwest of the main Maverick mineralized zone, (b) test geophysically defined targets on newly gridded areas along the corridor, and (C) test a number of targets that were identified by the 2002 winter program on four regional grids, as well as newly defined targets.
All results and technical information were obtained, verified and compiled under a formal quality assurance and quality control (QA/QC) program. JNR's President, Richard T. Kusmirski, P Geo, and Exploration Manager, David L. Billard, P Geo, are the Qualified Persons, pursuant to NI 43-101, responsible for the technical data presented in this release. IUC's President, Ron Hochstein, P.Eng., a Qualified Person pursuant to NI 43-101, has reviewed the results and technical information as well as the adequacy of the analytical procedures. Please see below for further information on gamma probe results, assay methods and quality control procedures.
Processes for Determining Uranium Content
Exploration for uranium deposits typically involves the identification of graphitic conductors and structure using TEM, magnetics and gravity, followed up by diamond drilling. Due to the nature of the mineralization in these deposits core recovery can be poor within the mineralised zones. For that reason, it is standard operating procedure in uranium exploration to run a down hole radiometric log, whereby grade equivalents (%e U3O8) can be calculated for a drill hole.
The radiometric (gamma) log measures natural gamma radiation which is measured by a Sodium Iodide crystal, which when struck by a gamma ray emits a pulse of light. This pulse of light is then amplified by a Photo multiplier tube, which outputs a current pulse. The current pulse is carried up a conductive cable and is collected by a computer. In effect, the stronger the gamma radiation, the greater the concentration of uranium and the stronger the current pulse.
The gamma log is obtained by lowering a gamma probe down the drill hole. A very accurate counting wheel measures the speed and depth of the probe as it is lowered down the hole. The probe sends a gamma pulse up the cable to the computer every ten centimetres of travel and the data is recorded by the computer. The resultant data is then subjected to a complex set of mathematical equations, taking into account the specific parameters of the probe used, speed of logging, size of bore hole, drilling fluids and presence or absence of and type of drill hole casing.
The basis of the grade calculations however, is the sensitivity of the sodium iodide crystal used in each individual probe. Each probe's sensitivity is therefore measured against a known set of standard "test pits" located at the Saskatchewan Research Council's (SRC's) facilities in Saskatoon. There are four pits, three of which contain 1.5 metres of mineralization at grades of 600 ppm, 2800 ppm and 1.07% U respectively, and one pit which contains 21 cm of 4.45% U. Values for the "k-factor" and "dead time" of each probe are obtained from the data obtained from the test pits. Once these two values are known they may then be applied to the mathematical formulae for grade calculation.
It should be noted that in a direct comparison of probe results versus geochemical results (where core recovery is a minimum of 95%), probe results tend to return lower values than geochemical ("true") grades. This is due to the methodology employed by the probe, and is widely acknowledged within the Uranium industry.
At SRC's facilities, samples are sorted according to radioactivity, dried and processed as follows:
- Samples are processed from lowest to highest radioactivity.
