B2Gold Corp. press release
UCR Drilling Makes New Uranium Discovery Parallel to East Target
TSX - Toronto Stock Exchange · Gold · Canada
TSX.V: UCR
KIRKLAND LAKE, ON, April 25 /CNW/ - (Uranium City Resources Inc - UCR:TSX.V, A0F7F5:Berlin): In its most recent press release dated March 28th, 2007, ("UCR" or the "Company") summarized and commented on 32 of the 35 total drill hole results obtained to date on the East Target.
UCR is now pleased to report a new discovery of Uranium mineralization parallel to the East Target. Hole FT07-35, while being drilled from its location on the ice on Verna Lake in an effort to intersect the East Target, intersected a near surface mineralized zone that returned 0.204% U(3)O(8) over 10 meters (32.8 feet). Included in this 10 meter interval was a 5 meter portion (16.4 feet) grading 0.387% U(3)O(8). This drill hole was oriented at 45 degrees and this intersection is believed to be true width. This hole also intersected the East Target as was intended and assay results show 0.133% U(3)O(8) over 2 meters (6.5 feet) at a depth of 151.0 meters.
Drill hole FT07-36 returned 0.181% U(3)O(8) over 1 meter (3.28 feet).
Drill holes FT07-33 and FT07-37 returned no significant mineralization. This is consistent with the down-dip "pinching and swelling" features typical of U mineralization in the Uranium City Mining District (see comments in March 28th press release).
Drill hole FT07-38 drilled behind hole FT07-35 intersected 1 meter of similar mineralization but was suspended at a depth of 41.5 meters due to adverse ice conditions on Verna Lake.
Total Average Grade Hole Within Depth From To Length Interval HOLE (meters) Dip (meters)(meters) (meters) (%U(3)O(8)) FT07-33 283.0 -45 degrees No significant mineralization FT07-34 162.0 -45 degrees 115.0 116.0 1.0 0.011% -45 degrees 116.0 117.0 1.0 0.021% -45 degrees 117.0 118.0 1.0 0.014% FT07-35 214.0 -45 degrees 14.25 24.25 10.00 0.204% (Including 5m of 0.387%) 35.50 37.00 1.50 0.049% 42.20 43.50 3.30 0.019% 151.0 153.0 2.00 0.133% FT07-36 219.0 -45 degrees 148.0 149.0 1.00 0.181% FT07-37 247.0 -45 degrees No significant mineralization FT07-38 41.50 -45 degrees 33.5 34.0 0.50 0.046% -45 degrees 35.0 36.9 1.00 0.047% -45 degrees 41.5 - - Drilling stopped due to adverse ice conditions
Commenting on these results, UCR's CEO, Bob Kasner, stated, "although the full extent of this new discovery is not yet known, it is indeed very encouraging and lends support to the old adage if you want to find ore, go where it has already been found. We expect to find many of these undiscovered occurrences in the Uranium City Mining District, especially in those areas near old mine sites and previous mineralization showings."
Drill crews are currently drilling an EM conductor target near Hanson Bay and will be returning to the East Target as soon as possible.
The technical information in this news release has been reviewed by Jim Kermeen, P. Eng. a qualified person as defined by National Instrument 43-101.
Forward looking statements:
This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond UCR's control or prediction and 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.