Crosshair drills 12.5 m of 0.10% U3O8Crosshair drills 12.5 m of 0.10% U3O8 on the C zone
Crosshair Exploration & Mining Corp (C:CXX) Shares Issued 71,740,789 Last Close 11/14/2007 $2.46 Thursday November 15 2007 - News Release
Mr. Mark Morabito reports
CROSSHAIR DRILLS CONFIRM CONTINUITY OF URANIUM MINERALIZATION AT AREA 1, 1500M DOWN STRIKE OF C ZONE
Crosshair Exploration & Mining Corp. is releasing assay results from recent drilling at area 1 on the company's Central mineral belt (CMB) uranium project in Labrador. Uranium mineralization at area 1 occurs in a very similar style and geologic setting as the C zone, which is located 1.5 kilometres along strike to the northeast. Area 1 has now been defined over a minimum strike length of 600 metres and remains open. Highlights from the drilling to date at area 1 are as follows:
* 0.21 per cent U3O8 over 2.0 metres (32.5 to 34.5 metres) and 0.20 per cent U3O8 over 3.5 metres (39.0 to 42.5 metres), both within a zone grading 0.10 per cent U3O8 over 12.5 metres (31.5 to 44.0 metres), in hole ML-A1-21;
* 0.15 per cent U3O8 over 2.5 metres (64.0 to 66.5 metres) in hole ML-A1-31;
* 0.14 per cent U3O8 over 1.5 metres (41.5 to 43.0 metres) in hole ML-A1-35;
* 0.23 per cent U3O8 over 1.8 metres (43.5 to 45.3 metres) in hole ML-A1-36;
* 0.10 per cent U3O8 over 5.2 metres (40.0 to 45.2 metres) in hole ML-A1-09 (previously released);
* 0.11 per cent U3O8 over 11.5 metres (26.0 to 37.5 metres) in hole ML-A1-16 (previously released).
The uranium zone at Area 1 occurs along a 4.5-kilometre-long mineralized corridor that also includes the C zone and the Armstrong showing. Exposure is generally poor along the 4.5-kilometre-long structure, but it does outcrop at the C zone, where it has been drilled for 1,200 metres of strike length. The zone outcrops again at area 1 and at the Armstrong showing, which are located 1,500 metres and 3,000 metres, respectively, along strike to the southwest. Further testing the continuity of mineralization between the zones with drilling will be one of the company's goals for 2008.
"We are very encouraged by these results from area 1, where we have now proven continuity over a 600-metre strike length," says J. Wayne Pickett, PGeo, vice-president of exploration at Crosshair. "The latest results, coupled with our earlier success at area 1, further confirm the existence of multiple zones of strong mineralization on our CMB project and indicate the potential for a significant 1,500-metre downstrike extension of the C zone."
Full assay highlights from holes ML-A1-18 to ML-A1-45, as well as ML-A1-09 and ML-A1-16 (previously released), are posted, along with a current map, on the company website. The mineralized zones at area 1 are interpreted to be dipping moderately southeast and the stated widths are approximately 80 to 100 per cent of true widths.
Crosshair currently has two rigs operating at the C zone on the CMB uranium project, both of which will continue to drill on the property until early December. Assay results are pending for approximately 50 additional holes that have been drilled at the C zone, which continues to be extended by the current drilling and remains open in all directions.