V.GU is currently waiting for drill results on the below noted drill holes. I expect the results to be due out soon and should be very good. Look at V.IEA, SSE, UUL for recent drill results effect on share price. I think V.GU can it $1 on the drill results and they are definately in the best area for Uranium Exploration.
Have and look and decide.
|VANCOUVER, BRITISH COLUMBIA, Feb 21, 2007 (MARKET WIRE via COMTEX News Network) --
Global Uranium Corp. (TSX VENTURE: GU)(FRANKFURT: B1H) and Forum Uranium Corp. (TSX VENTURE: FDC) are pleased to announce that nine holes comprising of 1,140 metres of drilling have been completed on the Orchid Lake project.
The targets on the Orchid Lake property are shallow, basement-hosted, unconformity-type uranium deposits. The project is located 20 kilometres west of the Cameco/AREVA Key Lake Uranium Mill in the prolific Athabasca Basin of northern Saskatchewan. The Orchid Lake property is interpreted to lie on an ENE structure that hosts the Key Lake uranium deposit that had an average grade of 2.45% U3O8. The Key Lake mine produced over 195 million pounds of uranium from 1983 to 1997.
A Geotech Ltd. VTEM airborne magnetic/electromagnetic survey in 2005 identified two conductors - the P and Q conductors. Both conductive targets are interpreted as graphitic sediments of the Wollaston group, host to many uranium deposits and prospects in the eastern Athabasca Basin where one-third of the world's uranium is produced. Anomalous uranium in lake sediments and uraniferous boulders of pegmatite with lenses of graphitic gneiss grading up to 0.1% U3O8 occur in the area. Six holes were completed on the P conductor and three holes were completed on the Q conductor.
Samples obtained from the drilling have been sent to Loring Laboratories Ltd. in Calgary. Assay results are anticipated in March and follow up drilling is planned at Orchid lake later this year.