UrAmerica implements a 30,000 meter drill program, surrounding CNEA`s Cerro Solo Uranium Deposit in the San Jorge Basin, Province of Chubut, Argentina.
UrAmerica is pleased to announce the commencement of a 30,000 meter drill program on its uranium exploration licensed areas within the Province of Chubut, Argentina.
This drill program and the related budget have been prepared and approved by the Joint Technical Committee (“JTC”), in accordance to the Strategic Alliance Agreement, signed on October 12, 2011, between UrAmerica and Cameco Global South America Inc. (“Cameco”). The JTC consists of 2 members from UrAmerica and 2 members from Cameco.
The 30,000 meters drill target is a combined reverse circulation and diamond drilling program, covering 7 drill target areas, out of 16 target areas identified throughout UrAmerica’s land position in the Province of Chubut. These 7 drill targets are directly adjacent to the high grade Cerro Solo Deposit, the historic Los Adobes Open Pit and other mineralized bodies, all held by the National Commission of Atomic Energy (“CNEA”) and located within the same paleochannel system.
The objectives of the drill program are:
- To define the extensions of the CNEA’s mineralized bodies, as well as the Cerro Solo Deposit, onto UrAmerica’s licensed areas.
- To define new areas of mineralization within these targeted areas.
This only represents the first phase of a broader exploration plan that aims to test all drill targets and demonstrate the further presence of uranium mineralization. UrAmerica’s ultimate goal is to develop the area into a world class uranium district.
To date, more than 3,600 meters of this drill program have been completed and the down-hole radiometric gamma probe results are promising. Geochemical results from the drill hole sampling program are pending.
Omar Adra, Founder and CEO of UrAmerica Ltd., said:
“I am proud to say that after having signed the Strategic Alliance with Cameco on the 12th of October 2011, we were able to quickly and successfully kick off the drill program on the 5th of December. This was and is being carried out with the highest environmental and social standards, with the support and involvement of the local community, and in a safe, efficient and cost-effective manner. In addition, I am very pleased to note that the initial indications are positive.”
For further information:
+ (54) 11 4804 2115
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