Uranium City Resources (UCR: TSX-V) Announces Results from Eagle Lake Uranium Project, Uranium City Mining District, Northern Saskatchewan.
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RKLAND LAKE, ON, Nov. 2 /CNW/ - Uranium City Resources Inc. ("UCR") is pleased to announce results from the 2005 exploration program at the Eagle Lake Project, which is located in the Uranium City region of Northern Saskatchewan, Canada. The Eagle Lake Project is one of ten uranium projects within the UCR portfolio.
Nesbitt-Labine Open Pit Samples A total of six grab samples and one chip sample were collected from the Nesbitt-Labine open pit area. Grab sample 801606 containing quartz veining, returned values of 2.09% U (2.46% U(3)O(8)), 0.097% V, 0.222% Pb, 2,500 ppm Ba and 22 ppb Au. Grab sample 801608 collected from north of the pit appears to be "pit fly rock" and returned values of 4.65% U (5.48% U(3)O(8)), 0.819% V, 3,240 ppm Ba and 3ppb Au. A 24 inch chip sample 801612 across the shear zone within the north wall of the pit returned low values in all elements except for anomalous As. Grab sample 801652 of a pitchblende breccia vein appears to be "pit fly rock" and returned values of 12.20% U (14.39% U(3)O(8)), 0.417% Cu, 0.974% Pb and 4,400 ppm Ba.
Copper Showing North of Shaft Lake A combined chip and grab sample (801610) from the north wall of the copper showing located north of the west end of Shaft Lake returned values of 17.8% Cu, 15.9% Se, 224 ppm Ag, 63 ppb Au, 146 ppb Pt, 79 ppb Pd, 0.07% Ni, 0.3% Pb, 0.987 % Co and 31 ppm U. It is believed that the presence of elevated levels of copper and selenium represent a geological environment similar to the Nicholson Uranium Project.
Shaft Lake Mine Area Grab sample 801633 taken from the dump north of Shaft Lake returned values of 9.50% U (11.20% U(3)O(8)) 1.52% Pb, 0.101% V, 357ppm Ag, 0.54% Cu, 258 ppm Bi, 1240ppm Y and 81 ppb Au. Grab samples 801654 and 801655, which are from a pit south of the shaft, returned values of 36.50% U (43.04% U(3)O(8)), and 12.0% U (14.15% U(3)O(8)) respectively. The 43.04% U(3(O(8) sample also contained most of the highest values in the rare-earth elements from the samples collected during the 2005 exploration program. Grab sample 801673 from the east-side bedrock exposure of the north pit (northeast of the shaft) returned values of 14.00% U (16.51% U(3)O(8)), 0.84% Cu, 1.5% Pb and 146 ppm Bi.
Eagle-Ace Mine Area A small pit 1 km northwest of the Eagle Ace Mine was examined and grab sample 801647 returned values of 40.10% U (47.29% U(3)O(8)), 7.28% Pb, 0.45% V, 109 ppm Nb and elevated levels of most rare earth elements.
SRC Geoanalytical Laboratories, Saskatoon, Saskatchewan, completed all assaying by multi-acid partial and total digestion ICP scan. UCR has converted the percentage Uranium by factor 1.1793 to uranium oxide (U(3)O(8)).
UCR's senior project geologist and QP, Kian A. Jensen, B.Sc., P.Geo. has reviewed this press release.
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 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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