Crosshair Extends C Zone to Northeast by Intersecting 0.10% U3O8 Over 18.3 Metres
06 Décembre 2007 - 3:15PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (AMEX: CXZ) is pleased to provide
the latest assay results from holes ML-140 to ML-154 of the
recently completed drill program at the C Zone on the Company's
Central Mineral Belt (CMB) Uranium Project in Labrador. The latest
results are highlighted by ML-140, which tested the shallow, up-dip
portion of the resource and by ML-141, which was drilled 100 metres
northeast of the current C Zone resource. Both of these holes will
aid in expanding the current uranium resource. Select highlights
from the latest results include:
- 0.31% U3O8 over 4.2 metres (5.8 to 10.0 m) and 0.20% U3O8 over
2.7 metres (12.6 to 15.3 m) both part of a wider zone grading 0.10%
U3O8 over 20.7 metres (5.3 to 26.0 m) in hole ML-140,
- 0.73% U3O8 over 2.0 metres (118.0 to 120.0 m) as part of a
wider zone grading 0.35% U3O8 over 5.1 metres (118.0 to 123.1 m),
both within a wider zone grading 0.10% U3O8 over 18.3 metres (106.7
to 125.0 m) in hole ML-141, and
- 0.11% U3O8 over 4.5 metres (276.5 to 281.0 m) from the Lower C
Zone in ML-149.
"The latest results clearly demonstrate the potential to extend
the existing C Zone resource along strike," says J. Wayne Pickett,
P.Geo., VP Exploration at Crosshair. "The C Zone has now been
extended outside of the defined resource by 100 metres to the
northeast, further increasing both the number of pounds of U3O8 and
the overall dimensions of the resource."
Eight of the drill holes tested the northeast portion of the C
Zone, including holes ML-141 and ML-149, both of which were
collared 100 metres outside of the currently defined resource.
Results from these holes are highlighted by ML-141, which
intersected 0.10% U3O8 over 18.3 metres, including 0.35% U3O8 over
5.1 metres.
Hole ML-140, an undercut of previously released holes ML-138 and
ML-139, tested the shallow, up-dip portion of the Upper C Zone and
intersected uranium mineralization grading 0.10% U3O8 over 20.7
metres including 0.31% U3O8 over 4.2 metres. The grade and width of
mineralization intersected in these holes will add to the uranium
resource in the near surface portion of the C Zone.
Complete assay highlights from holes ML-140 to ML-154 along with
current drill sections and maps are posted on the Company website
at: http://www.crosshairexploration.com/s/CZone.asp.
Results for approximately 18 additional holes from the current
program are pending and will be released over the coming weeks.
Crosshair has recently suspended its drilling operations on the CMB
Uranium Project for winter freeze-up and is currently planning an
aggressive 2008 program set to begin early in the New Year that
will see three drills turning on the property throughout the
winter.
About Crosshair
Crosshair is a dominant player in the exploration for uranium in
the Central Mineral Belt of Labrador - Canada's most promising
emerging uranium district. The 750 sq km Central Mineral Belt
Uranium Project is host to potentially three types of uranium
mineralization - Iron Oxide Copper Gold (IOCG - Olympic Dam),
structurally controlled/shear zone and unconformity types of
mineralization.
The Company's exploration work on the Central Mineral Belt
Uranium Project is supervised by J. Wayne Pickett, P.Geo., a member
of the Professional Engineers and Geoscientists of Newfoundland and
Labrador, the Vice President Exploration of the Company and a
Qualified Person as defined in NI 43-101. Mr. Pickett has verified
that the results presented above have been accurately summarized
from the official assay certificates provided to the Company. A
QA/QC program has been implemented consisting of standard, blank
and duplicate samples.
Split drill core samples are being sent to Activation
Laboratories in Ancaster, ON for analyses. Uranium analysis is
performed by the delayed neutron counting (DNC) method, while
multi-element analysis is performed using Inductively Coupled
Plasma Mass Spectrometry (ICP-MS). Samples that exceed the upper
limit for uranium are re-assayed using X-ray fluorescence
(XRF).
ON BEHALF OF THE BOARD
Mark J Morabito, President and CEO
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release may involve
forward-looking statements. Forward-looking statements are
statements that relate to future, not past, events. In this
context, forward-looking statements often address a company's
expected future business and financial performance, and often
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similar expressions. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or
other future events, to be materially different from any future
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forward-looking statements. Such factors include, among others, the
following risks: the risks associated with outstanding litigation,
if any; risks associated with project development; the need for
additional financing; operational risks associated with mining and
mineral processing; fluctuations in uranium, gold and other
commodity prices; title matters; environmental liability claims and
insurance; reliance on key personnel; the potential for conflicts
of interest among certain officers, directors or promoters with
certain other projects; the absence of dividends; competition;
dilution; the volatility of our common share price and volume; and
tax consequences to U.S. Shareholders. Forward-looking statements
are made based on management's beliefs, estimates and opinions on
the date that statements are made and the Company undertakes no
obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change.
Investors are cautioned against attributing undue certainty to
forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of the content of this News Release.
Contacts: Crosshair Exploration & Mining Corp. Dan McIntyre
(604) 681-8030 (604) 681-8039 (FAX) Email:
dan@crosshairexploration.com Website:
www.crosshairexploration.com
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