New book by Larry Connors Click here Improve your trading - See how
Drill Program Details
The exploration program will consist of approximately 8,000 metres and will be targeted for completion prior to the annual rainy season, which begins in late November and continues through to March. The initiation of this first-phase resource definition drill program signifies that Uranium Star is further advancing its vanadium project.
Two diamond drills have been contracted from Boart Longyear to perform the drilling. The initial focus will be to define significant widths and grades of vanadium mineralization. Based on previous exploration results, the Company has been able to verify that the primary vanadium trend hosts an extensive and continuous mineralized zone with a strike length of approximately 18 kilometres.
The initial drill sites were generated from significant data accumulated from the 31 hole drill program in 2008 and the XRF soil geochemical program, as well as the extensive trenching program, totaling 8,168 metres, that was completed in July of this year.
The trench results indicated that the near-surface mineralization has widths that exceeded the Company's initial expectations. Significant grades of vanadium mineralization were visible over widths exceeding 150 metres, with a high-grade core having grades in excess of 0.70% V2O5. The average width of vanadium mineralization is in excess of 60 metres.
Company's Goal to Drill 35,000 Metres, Targeting Minimum 200 Million Tonne Deposit
This current drill program on the Green Giant Project will represent a significant portion of the estimated 35,000 metres that the Company expects to drill in order to calculate a NI-43-101 compliant resource statement and complete a bankable feasibility study on the Project. The Company's objective is to define a minimum of 200 million tonnes of mineable vanadium mineralization.
Engineering Group on Way to Madagascar
Uranium Star engaged PEG Mining Consultants Group in the spring of this year. They have been completing additional metallurgical work and an order of magnitude study. The order of magnitude study will provide an initial estimate of all parameters dealing with the deposit, including mining, processing, infrastructure, capital and operating costs. This work will provide additional guidance for the upcoming drill program and a future Preliminary Economic Assessment (PEA).
They will also provide initial assistance to Uranium Star in the socioeconomic, environmental and marketing aspects of the Project.
Trench Result Highlights
Uranium Star has recently received the assay results from the completed 55 trenches on the main vanadium trend that extends along an estimated 18-kilometre length of the property. Assay highlights are as follows;
-- 0.56% V2O5 over 190 metres, including 0.96% V2O5 over 32 metres for
trench TR-09-002
-- 0.51% V2O5 over 204 metres, including 0.98% V2O5 over 44 metres for
trench TR-09-039
-- 0.48% V2O5 over 48 metres for TR-09-044, and 0.0.48% V2O5 over 62 metres
for TR-09-050
A complete table of assay results for V2O5 from the 55 trenches completed earlier this year can be found at the end of this press release.
2008 Drill Highlights
The 2008 drill results indicated that the near-surface vanadium grades are enhanced over those from primary mineralization. The following have been recalculated from previously published drill results with excess internal waste being eliminated from a number of intersections.
Highlights are as follows:
-----------------------------------------------------
Hole Depth in Metres V2O5
From To Interval %
-----------------------------------------------------
TH-08-01 103.6 115.8 12.2 0.39
-----------------------------------------------------
TH-08-02 42.7 109.7 36.6 0.27
incl. 100.6 109.7 9.1 0.36
-----------------------------------------------------
TH-08-07 27.4 54.9 27.4 0.23
-----------------------------------------------------
TH-08-11 33.5 39.6 6.1 0.41
TH-08-11 57.9 76.2 18.3 0.37
-----------------------------------------------------
TH-08-12 30.6 114.3 83.7 0.37
incl. 45.7 61.0 15.2 0.40
incl. 86.9 109.7 22.9 0.47
-----------------------------------------------------
TH-08-13 38.5 141.7 103.2 0.32
incl. 76.2 141.7 65.5 0.36
incl. 112.8 141.7 27.4 0.45
-----------------------------------------------------
TH-08-14 12.2 109.7 97.5 0.35
incl. 76.2 91.4 15.2 0.66
-----------------------------------------------------
TH-08-24 4.6 82.3 77.7 0.67
incl. 12.2 61.0 45.7 0.91
-----------------------------------------------------
TH-08-25 18.3 48.8 30.5 0.32
TH-08-25 100.6 103.6 3.0 0.47
-----------------------------------------------------
TH-08-26 9.1 36.6 27.4 0.41
incl. 18.3 27.4 9.0 0.76
TH-08-26 67.1 73.2 6.1 0.53
-----------------------------------------------------
TH-08-27 9.1 97.5 88.4 0.30
incl. 18.3 29.0 10.7 0.88
TH-08-27 146.3 153.9 6.0 0.50
-----------------------------------------------------
TH-08-31 15.2 51.8 36.6 0.38
incl. 36.6 48.8 12.2 0.56
-----------------------------------------------------
About the Company
Uranium Star Corp. is a rapidly emerging exploration company with assets in Madagascar (Vanadium) and Northern Quebec (Uranium). Its shares are traded on the OTCBB under the symbol URST and on the Frankfurt Exchange under the symbol YE5. The Company has formally applied to the TSX Venture Exchange for issuer status.
Bill Nielsen, P.Geo., Director & Vice President of Exploration is responsible for the advancement and execution of the necessary criteria relating to the Green Giant Project in Madagascar and is the qualified person for this report. Taiga Consultants Ltd. is overseeing Uranium Star's exploration activities in Madagascar under the direction of Claude Aussant, P.Geol.
For more information on the Green Giant Project and up-to-date pictures from the field, please visit our website at www.uraniumstar.com
WARNING: The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
2009 Trench Assay Results Trench # From To Length % V2O5 TR-09-001 0 116 116 0.48 incl. 28 52 24 0.72 incl. 70 90 20 0.77 TR-09-002 54 136 190 0.56 incl. 104 136 32 0.96 incl. 154 208 54 0.67 TR-09-003 58 134 192 0.47 incl. 86 152 66 0.8 TR-09-004 84 200 116 0.5 incl. 112 164 52 0.75 TR-09-005 26 62 36 0.23 TR-09-006 28 74 46 0.36 TR-09-007 8 100 92 0.27 TR-09-008 40 106 66 0.40 incl. 44 70 26 0.55 TR-09-009 24 84 60 0.25 TR-09-010 106 152 46 0.31 TR-09-011 0 30 30 0.36 TR-09-012 4 34 30 0.41 TR-09-013 84 140 56 0.25 TR-09-014 -14 32 46 0.38 incl. -8 4 12 0.68 TR-09-015 52 92 40 0.26 TR-09-016 44 88 44 0.27 incl. 44 50 6 0.58 TR-09-017 134 152 18 0.38 TR-09-018 22 30 8 0.49 and 86 122 36 0.51 TR-09-19 138 204 66 0.46 incl. 158 180 22 0.59 TR-09-020 24 104 80 0.31 TR-09-021 32 57 25 0.36 TR-09-022 26 100 74 0.38 TR-09-023 24 72 48 0.34 TR-09-024 NSV TR-09-025 66 74 8 0.27 TR-09-026 2 138 136 0.21 TR-09-027 6 58 52 0.23 TR-09-028 40 54 14 0.33 and 78 100 22 0.53 TR-09-029 56 94 38 0.36 TR-09-030 74 92 18 0.68 TR-09-031 20 36 16 0.52 TR-09-032 54 100 46 0.46 TR-09-033 18 62 44 0.44 incl. 18 28 10 0.59 TR-09-034 40 86 46 0.44 incl. 54 64 10 0.74 TR-09-035 20 64 44 0.43 TR-09-036 8 52 44 0.47 incl. 26 36 10 0.60 TR-09-037 6 62 56 0.49 incl. 8 28 20 0.70 TR-09-038 64 212 148 0.57 incl. 68 82 14 0.65 incl. 104 118 14 0.99 incl. 148 208 60 0.71 TR-09-039 38 242 204 0.51 incl. 146 190 44 0.98 TR-09-40 8 104 96 0.44 incl. 8 70 62 0.57 TR-09-041 32 162 130 0.56 incl. 68 132 64 0.71 TR-09-042 62 162 100 0.47 incl. 122 160 38 0.61 TR-09-043 98 150 52 0.44 incl. 98 120 22 0.58 TR-09-044 36 84 48 0.48 incl. 62 84 22 0.66 TR-09-045 -50 -22 28 0.40 and 4 50 46 0.31 TR-09-046 NSV TR-09-047 NSV TR-09-048 NSV TR-09-049 28 62 34 0.47 incl. 50 62 12 0.66 TR-09-050 16 78 62 0.48 incl. 60 78 18 0.76 TR-09-051 -28 32 60 0.40 TR-09-052 -4 48 52 0.45 incl. 22 34 12 0.65 TR-09-053 12 54 42 0.35 TR-09-054 46 132 86 0.57 incl. 70 134 64 0.68 and 176 216 40 0.27 TR-09-055 36 80 44 0.44 incl. 48 64 16 0.6 and 0 12 12 0.38 NSV equals no significant values Average Major intersection 62 meters @ 0.43% V2O5
SOURCE: Uranium Star Corp.
Uranium Star Corp. Brent Nykoliation Vice President of Business Development Toll Free: 800.818.5442 or 416.364.4911 bnykoliation@uraniumstar.com Uranium Star Corp. Julie Lee Harrs President & COO Toll Free: 800.818.5442 or 416.364.4911
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.