U3O8 Limited announced that the planned reverse circulation drilling program on its Ashburton Joint Venture Project commenced on 25th May 2010. In total, 28 reverse circulation drill holes have been planned for an advance of more than 4100 metres. The first phase of drilling will be focussed on five main prospect areas; Livanto, Peacock West, The Nose, The Bend and Atlantis.
U3O8 announced that anomalous assay results for a range of elements have been returned from the follow up rock chip sampling programme completed on the Ashburton JV. Significant rare earth assays received from Livanto prospect, including: combined rare earth oxide assay results of 11.14%, 3.72%, 1.73% and 1.29% REO (rare earth oxides), the same samples returned uranium results of up to 0.1% U3O8, and were also anomalous in a range of base metals.
U3O8 Limited announced final results returned from the recent rock chip sampling program completed on the U3O8 – Cameco Australia Ashburton joint venture. Grab samples at Canyon Creek historical anomaly shows grades of up to 1.03% U3O8 and up to 0.28% Pb. Further samples at Ristretto group of anomalies return consistent higher uranium grades (up to 0.85% U3O8) and
anomalous gold values (up to 2.7g/t).
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