Ist der Boden erreicht? Ich weiss es nicht, aber zumindest werden die NEWS scheinbar belohnt, auch in Canada mit jetzt schon 3.5%!
Quelle stockouse:
Uranium Power Corp. Announces Acquisition of South Fork Project, Saskatchewan
VANCOUVER, BRITISH COLUMBIA, May 14, 2007 (MARKET WIRE via COMTEX News Network) --
Uranium Power Corp. ("Uranium Power" "UPC") (TSX VENTURE: UPC) is pleased to announce that it has signed on option agreement with JNR Resources (TSX VENTURE: JNN) whereby UPC can earn up to a 65% interest in the South Fork project, located to the east of the Cypress Hills in southwestern Saskatchewan.
The terms of the agreement call for UPC to reimburse JNR for prior expenditures, not to exceed $100,000, and to carry out $1,500,000 of exploration by January 25, 2009. This will earn UPC a 50% interest. UPC can then increase its interest to 65% by spending an additional $1,000,000 on exploration activities by January 25, 2011. UPC will be the operator.
The project consists of just over 50,000 hectares with excellent potential to host roll-front uranium deposits, in a geological environment very similar to the prolific Powder River Basin in Wyoming. In Wyoming, such deposits are commonly amenable to in situ leach recovery. The property is underlain by sandstones and shales of the Frenchman and Ravenscrag Formations.
The area was explored in the late 1970's and early 1980's by Saskatchewan Mining Development Corporation (SMDC), a predecessor company of Cameco Corporation. SMDC carried out regional geochemical and geophysical surveys, followed by reconnaissance drilling programs. These field activities resulted in the identification of several extensive regional redox systems that were never adequately followed up. SMDC dropped the project after the 1982 field season due to depressed uranium prices. Reconnaissance-scale drilling by SMDC intersected anomalous uranium concentrations over widespread areas.
Chris M. Healey, P.Geo, is the Qualified Person responsible for the technical content contained in this release.
UPC is planning an aggressive exploration program for 2007. This will include airborne geophysical surveys, followed by planned drilling this fall. The exploration budget for the assessment year ending January 25, 2008, is $750,000.
Chris Healey, President of UPC, commented, "The acquisition of this project, and the opportunity to work with a very successful uranium exploration company, represents an exciting step forward for UPC. Building on the experience of our geological staff, the inclusion of a property with in situ leach recovery potential is a natural step forward. We intend to continue to diversify the company's uranium assets, both geographically and geologically."
URANIUM POWER CORP.
Chris M. Healey, President
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