Uranium Hunter Corp. (URHN.OB) Announces Positive Results from Helicopter Survey
Source: http://Blog.QualityStocks.net/?p=11685Posted on Tuesday, August 12th, 2008 | In Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to Watch
Uranium Hunter Corp. announced today that the geophysical interpretation of the aeromagnetic and radiometric surveys commenced at its Ruhuhu Prospect have outlined as many as 8 outcropping zones of enhanced uranium activity. The 1,100 line km of airborne radiometric and magnetic data obtained by the airborne contractor was interpreted by GAP Geophysics of South Africa with the goal of mapping uranium anomalies of possible palaeochannel exploration interest. According to the company, some 9 subdivided zones of enhanced uranium activity (RAD_1 to RAD_9) have been interpreted, including anomalies whose responses are up to 5 times greater than background.
GAP Geophysics reported that the anomalous responses characterize Karoo sediments underlying the area and have comparable characteristics to uranium palaeochannel deposits in the Republic of South Africa Karoo, making them viable exploration targets. Uranium Hunter is providing the full report as a publication under the “Investor Relations” tab on the www.UraniumHunterCorp.com website.
Other uranium discoveries in similar rock formations to those found at the company’s Ruhuhu Prospect include the Kayelekera uranium deposit in Malawi, which is owned by Paladin Resources, and the Mkuju River project owned by Mantra Resources. The Kayelekera discovery has an inferred resource of 9.4 million tonnes ore at 0.12% U308, while the Mkuju project was recently reported to have thick zones of uranium mineralization.
“We are extremely encouraged by these results which continue to reaffirm the viability of our Ruhuhu project. With specific targets now identified, we are confident that further fieldwork will continue to follow this positive trend,” stated Ghaith Qamheiah, President of Uranium Hunter.
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