Ucore Releases 2011 Bokan Drill Results Pending Augmented Resource Calculation
23 Enero 2012 - 8:51AM
Marketwired
Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or
"the Company") is pleased to announce finalized assay results from
the 2011 drill program at the Bokan-Dotson Ridge rare earth element
(REE) project in southeast Alaska. The 2011 drill program produced
a total of 10,112 metres of core from 34 diamond drill holes. The
data will be used to upgrade the status of the existing National
Instrument (NI) 43-101 compliant resources from Inferred to
Indicated and to increase the size of the existing mineral
resources at Dotson Ridge. Together with the previous Ucore drill
programs from 2007 to 2010, the Company has now completed 134 drill
holes in total, comprising 19,662 meters of core at the Bokan
property.
A map showing the location of the drill holes reported in this
press release can be accessed on the Company's website
(http://ucore.com/2011drillholes).
The following table summarizes significant intersected values
from 27 out of 34 holes completed in 2011.
2011 Assay Drill Core Results
Depth Depth Width LREO HREO TREO HREO/TREO
Hole From (m) to (m) (m) (wt.%) (wt.%) (wt.%) (%)
---------------------------------------------------------------------------
LM11-92 151.93 153.72 1.79 0.53 0.52 1.04 50
LM11-92 167.36 171.1 3.08 0.27 0.15 0.42 36
LM11-92 179.27 181.67 2.4 0.32 0.20 0.51 38
LM11-101 154.63 156.65 2.02 0.59 0.20 0.79 25
LM11-103 184.4 186.56 2.16 0.39 0.30 0.69 43
LM11-105 147.55 151.26 3.71 0.62 0.24 0.86 28
LM11-106 189.5 192 2.5 0.48 0.15 0.63 24
LM11-106 296.2 298.7 2.5 0.29 0.19 0.48 40
LM11-107 109.26 113.55 4.29 0.14 0.18 0.32 57
LM11-108 139.65 141.17 1.52 0.31 0.33 0.64 51
LM11-109 153.87 155.72 1.85 0.18 0.23 0.41 56
LM11-110 222.45 226.77 4.32 0.32 0.33 0.80 51
LM11-112 76.42 79.32 2.9 0.58 0.17 0.75 22
LM11-112 121.01 123.26 2.25 0.19 0.28 0.47 60
LM11-112 125.07 131 4.68 0.22 0.16 0.38 42
LM11-113 160.8 161.6 0.8 0.45 0.53 0.97 54
LM11-113 164.03 166.38 2.35 0.41 0.34 0.75 45
LM11-114 156.36 157.05 0.69 0.33 0.24 0.57 42
LM11-114 209.63 210.65 1.02 0.55 1.51 2.06 73
LM11-114 219.81 222.02 2.21 0.56 0.30 0.86 35
LM11-115 142.72 144.66 1.94 0.67 0.51 1.18 43
LM11-115 153.24 154.45 1.21 0.59 0.44 1.03 42
LM11-116 126.24 128.75 2.51 0.52 0.22 0.74 30
LM11-116 132.31 133.76 1.45 0.42 0.11 0.53 21
LM11-116 151.53 156.8 2.79 0.28 0.34 0.62 55
LM11-116 161 162.5 1.5 0.32 0.32 0.64 49
LM11-116 173.9 175.6 1.7 0.46 0.38 0.84 45
LM11-117 217.62 236.55 5.71 0.27 0.37 0.65 58
LM11-117 249.95 255.75 3.85 0.39 0.17 0.56 30
LM11-118 94.98 96.04 1.06 0.63 0.24 0.88 28
LM11-118 144.68 146.77 2.09 0.33 0.23 0.56 41
LM11-119 191.1 193.5 2.4 0.26 0.10 0.36 28
LM11-119 258.74 261.26 2.52 0.29 0.15 0.44 34
LM11-119 268.24 270.5 2.26 0.34 0.15 0.49 32
LM11-120 178 179.93 1.93 0.49 0.26 0.75 35
LM11-121 215.57 217.63 2.06 0.31 0.21 0.52 40
LM11-121 222.46 225.35 2.89 0.43 0.34 0.77 44
LM11-122 55.16 56.5 1.34 0.33 0.30 0.63 47
LM11-122 80.07 82.17 2.1 0.26 0.28 0.54 52
LM11-122 86.12 87.69 1.57 0.41 0.40 0.81 49
LM11-123 82.47 85.69 3.22 0.37 0.32 0.68 46
LM11-123 96.75 99.62 2.87 0.18 0.21 0.40 53
LM11-123 123.07 126.43 3.36 0.62 0.47 1.09 43
LM11-124 112.1 113.81 1.71 0.26 0.19 0.46 43
LM11-124 129.4 132.88 3.48 0.39 0.28 0.67 42
LM11-125 180.83 182.17 1.34 0.29 0.16 0.44 35
LM11-125 184.42 186.69 2.27 0.48 0.56 1.04 53
LM11-125 203.59 205.79 2.2 0.38 0.30 0.68 44
LM11-126 86.52 88.42 1.9 0.99 0.36 1.36 27
LM11-126 96.15 99.54 3.3 0.62 0.28 0.90 31
LM11-127 161.35 162.91 1.56 1.60 1.47 3.07 48
LM11-127 197.78 199.54 1.76 1.37 0.70 2.06 34
LM11-127 228.67 234.23 2.67 0.35 0.16 0.51 31
LM11-128 151.46 161.13 4.94 0.42 0.29 0.71 41
LM11-128 162.84 165.85 3.01 0.56 0.28 0.84 33
LM11-128 175.13 193.88 3.05 0.73 0.32 1.05 31
LM11-129 268.9 271.66 2.76 1.07 0.55 1.62 34
LM11-129 319.94 321.2 1.86 1.57 0.64 2.22 29
---------------------------------------------------------------------------
-- LREO = Light rare earth elements: La, Ce, Pr, Nd, and Sm as oxide
-- HREO = Heavy rare earth elements: Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu,
and Y as oxide
-- TREO = Total rare earth oxides: LREO + HREO
-- Totals may not equal due to rounding
-- Major contributing rare earth oxides to LREO and TREO: La2O3, Ce2O3,
Nd2O3
-- Major contributing rare earth oxides to HREO: Dy2O3, Gd2O3, Y2O3
"The completion and analysis of the 2011 drill program is
another significant milestone for Ucore," said Jim McKenzie,
President and CEO of the Company. "The 2011 drill program is
remarkable for being the most ambitious to date, generating more
linear metres of core during one season than in all of the previous
drill seasons combined. The sheer size of the 2011 program clearly
demonstrates that Ucore is rapidly increasing the scale and
intensity of its development activities at Bokan. What's more, the
rare earth grades obtained this year surpass all prior years, with
several intercepts ranging from 2-3% TREO. The total core volume
generated this year has been more than sufficient to upgrade the
bulk of the existing resource from Inferred to Indicated under NI
43-101 guidelines, as the Company counts down to the release of a
Preliminary Economic Assessment in the near future."
The 2011 exploration program confirmed the integrity and
continuity of the Dotson Zone. The zone has a strike length of more
than 2,000 metres, with an average width of 50 metres, and contains
at least 24 high-grade mineralized veins or vein-arrays. The zone
remains open both at depth and on strike. 2011 drill results show
that there are multiple wide and high grade intersections within
the steeper holes, indicating that the already high grade
mineralization is apparently strengthening at depth. The results
both reinforce and augment the historical U.S. Bureau of Mines
resource estimate and geological model for the area (Warner &
Barker; USBM OFR 33-89). The USBM model inferred persistent rare
earth mineralization in the subject zone both along the strike and
at the depth, in combination with anomalously high ratios of heavy
to total rare earth elements.
In addition to standard diamond drilling, the 2011 field program
included the generation of numerous bulk surface samples. These
bulk samples are serving as input material for plant-scale
metallurgical and innovative X-ray transmission ore sorting
testwork being conducted at Hazen Research Inc. of Golden Colorado
and Commodas Ultrasort of Hamburg Germany, respectively (see Ucore
press release "Ucore XRT Testing Shows Prospective Doubling of Mill
Feed Grade" Oct 31, 2011). The 2011 field program additionally
included comprehensive environmental baseline testing, as well as
desktop engineering studies, as a prelude to mine planning and
development commencing in 2012. Beyond the central exploration
targets at Dotson Ridge, Ucore exploration geologists conducted
surface work at several Bokan-area REE occurrences in 2011, using
prior USBM studies as a means of generating outbound targets.
NI 43-101 Compliance
The diamond drill core was split on site, with half the core
transported by commercial carriers to the Activation Laboratories
analytical facility in Stewart, B.C., Canada and analyzed at their
labs in Ancaster, Ontario. Check assay samples were submitted to
ALS Laboratories in Anchorage, Alaska, USA and analyzed at ALS
Laboratories in Vancouver, B.C. Sample containers were sealed and
chain of custody was maintained throughout the transport. The QA/QC
program included the insertion of certified standards, blanks and
duplicates in the submitted sample shipment; and laboratory
insertion and analysis of standards and blanks, duplicates and
re-splits. Analyses were made by inductively-coupled plasma mass
spectrometry with lithium metaborate fusion, reporting whole rock
analyses as an additional quality control measure. Reported values
are length-weighted averages from multiple samples. All widths
reported are core intercepts and do not reflect true width of the
mineralized structure. Jim Robinson, P.Geo. (NWT), an independent
geologist with Aurora Geosciences, has prepared the technical data
relative to the drill assays provided herein and is the qualified
person responsible for their accuracy.
Background
Ucore Rare Metals Inc. is a well-funded junior exploration
company focused on establishing REE, uranium and other rare metal
resources through exploration and property acquisition. With
multiple projects across North America, Ucore's primary focus is
the 100% owned Bokan - Dotson ridge REE property in Alaska. The
Bokan - Dotson ridge REE project is located 60 km southwest of
Ketchikan, Alaska and 140 km northwest of Prince Rupert, British
Columbia and has direct ocean access to the western seaboard and
the Pacific Rim, a significant advantage in expediting mine
production and limiting the capital costs associated with mine
construction.
The Bokan properties are located in an area reserved for
sustainable resource development with an existing road network
providing access to the main target areas. REE mineralization at
the Bokan-Dotson ridge project occurs in a well-demarcated vein
system related to a Mesozoic Bokan peralkaline granitic complex.
However, a number of other occurrences of REE mineralization are
also located within, or at the margins of the complex. Viewed in a
geological and geophysical context, the Bokan complex is a
distinctive circular structure and is highly prospective for rare
earth deposits.
This press release includes certain statements that may be
deemed "forward-looking statements". All statements in this
release, other than statements of historical facts, that address
future exploration drilling, exploration activities and events or
developments that the Company expects, are forward looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include exploitation and exploration
successes, continued availability of financing, and general
economic, market or business conditions.
Contacts: Ucore Rare Metals Inc. Mr. Jim McKenzie President and
Chief Executive Officer (902) 482-5214 www.ucore.com
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