Guess its time....to check out the new "kid" on the block
Uranium Bay samples 1.03% U3O8 at Uskawanis
Uranium Bay Resources Inc (C:UBR)
Shares Issued 54,211,142
Last Close 7/25/2007 $0.24
Thursday July 26 2007 - News Release
Mr. Bernard Tourillon reports
URANIUM BAY OBTAINS UP TO 1.03% U3O8 (20.5 LBS/TON) IN SURFACE SAMPLE AT USKAWANIS, NORTHERN QUEBEC
Uranium Bay Resources Inc. is releasing U3O8 results from a second batch of surface grab samples from its June, 2007, exploration program on the Uskawanis uranium property in the James Bay region of Northern Quebec.
Sample location U3O8 content
(ppm) (%) (lbs/t)
PAD 1A / GRAB 1A 1,984.0 0.200 3.97
PAD 1A / GRAB1B 10,253.0 1.030 20.51
PAD 1A / GRAB 2 614.4 0.060 1.23
PAD 1B / GRAB 1 57.6 0.030 0.59
PAD 1B / GRAB 2 277.8 0.030 0.56
PAD 1B / GRAB 3 34.9 0.004 0.08
PAD 1B / GRAB 4 70.3 0.006 0.13
PAD 1B / GRAB 4B 249.6 0.030 0.51
PAD 27 / GRAB 4 149.1 0.020 0.31
PAD 36 / GRAB 1 517.1 0.050 1.02
PAD 39 / GRAB 1 60.7 0.006 0.13
PAD 39 / GRAB 2 947.2 0.090 1.89
PAD 49 / GRAB 1A 219.5 0.020 0.44
PAD 49 / GRAB 1B 1,830.0 0.180 3.66
PAD 53 / GRAB 1 442.9 0.050 0.90
PAD 53 / GRAB 2 499.2 0.050 1.00
PAD 54 / GRAB 1 286.7 0.030 0.56
PAD 54 / GRAB 2 162.6 0.020 0.33
(1) Surface grab samples freshly blasted
samples and not chosen samples.
(2) Assays are done at the ALS-Chemex
facilities in Val-d'Or, Que., and North
Vancouver, B.C. The analytical protocol used
is the ME-MS61, where samples are bar-coded,
dried, weighed, crushed and pulverized with
50 grams of the 200 mesh fraction used in
the analysis by mass spectrometer.
A first batch of results was released in a July 19, 2007, which also detailed the type of work completed to date on the property. Additional results are still pending.
The surface exploration campaign was initiated in early June, 2007, and mobilized a team of 20 people, including four geologists under the direction of Dr. Kamal Sharma, mineral exploration consultant, a 40-plus year geological mapping veteran of the James Bay region, previously with the Ministere des Ressources Naturelles et de la Faune Quebec. Geological mapping identified the U3O8-bearing host lithology as a pegmatite, which is highly anomalous in U3O8 within a six-kilometre by two-kilometre corridor of granitoids that are coincident with current airborne radiometric geophysical and ground spectral scintillometer surveys, as well as historical lake-bottom sediments geochemical results. Matching U3O8 assay and spectral parts per million eU3O8 results are generally in the upper hundreds of parts per million and commonly in the upper thousands of parts per million. Uraninite now appears as the dominant uranium-hosting mineral.
The company believes that the property may host bulk-type U3O8 mineralization similar to the Rossing U3O8 bulk deposit and mine operation, and is currently focusing its work at confirming kilometric-sized surface lower- and higher-grade U3O8. Rossing is one of the largest open pit uranium mines in the world operated by Rio Tinto. The deposit at a grade of 0.025 per cent (0.5 pound per ton) U3O8 is the world's fifth-largest producer of U3O8 and accounts for nearly 8 per cent of the current total world U3O8 production.
Eric Hurtubise, PGeo, director, a qualified person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.
© 2007 Canjex Publishing Ltd.