Ucore Uranium Inc. July 30 reported the first assay results from the 2008 drilling program at the Bokan Mountain project, located about 60 km southwest of Ketchikan, Alaska. The results are from two holes drilled into the I&L zone, one of more than 30 known uranium occurrences at Bokan Mountain.
Hole LM08-10 intersected 10.67 meters grading 0.23 percent U3O8 and included 2.57 percent grading 0.50 percent U3O8. Hole LM08-11 intersected 30.84 meters grading 0.07 percent U3O8 and included 1.10 meters grading 0.26 percent U3O8.
Ucore has two drills on the project and plans to drill a minimum of 6,000 meters this year.
“Our immediate plan is to move one of our drill rigs away from the core of I&L zone for aggressive step-outs to the southeast, where radiometric anomalies suggest additional strike potential over two kilometers away,” Jim McKenzie, president and CEO of Ucore said, “Permits from the USFS are now in hand to drill three more target areas, and on-going reconnaissance has identified new mineralized zones. Our exploration team has developed a geological model which will also be drill tested this year. We are awaiting multi-element assays, including rare earth analyses, from the first two holes.”
The rare earth elements include a total of 15 elements on the periodic table in the Lanthanide series of elements plus Yttrium. Grades are usually reported as calculated rare earth oxides. Rare earths are used predominately in the manufacture of permanent magnets, metal alloys, batteries catalysts, and glass.
Ucore recently announced high-grade Rare Earth assay results from its Lost Pond uranium property in Newfoundland.
