United Carina Updates Exploration Results and Plans
News Desk
Thursday May 17, 1:22 pm ET
http://biz.yahoo.com/ccn/070517/200705170391543001.html?.v=1
SASKATOON, SASKATCHEWAN--(CCNMatthews - May 17, 2007) - United Carina
Resources Corp. (TSX VENTURE:UCA - News) The Company is pleased to
report that a drill program on its Hatchet Lake uranium property on
the northeastern edge of the Athabasca Basin has been completed. A
total of 385.5 metres was drilled in four holes, testing conductive
anomalies. The core has been logged and sampled, with samples having
been sent for analysis by the Saskatchewan Research Council's rock
laboratory in Saskatoon.
The Hatchet Lake property is situated in the eastern Athabasca Basin,
Saskatchewan, 30 kilometres north of major uranium production centers
near the Rabbit Lake and McClean Lake mines and their associated high-
grade unconformity uranium deposits. The claims also lie on a
Northeast-Southwest geological trend that hosts major uranium deposits
and mines, namely Cigar Lake, McArthur River, Midwest, Millennium and
the JEB. Purepoint Uranium Group Inc.'s Red Willow project is
contiguous to Carina's claims on the Company's southern boundary. The
property is located near the edge of the basin and therefore the
targets are located at very shallow depths. The prospect consists of
16,990 hectares (41,864 acres) of contiguous claims that have been
subject to previous exploration for uranium. Previous work on the
claims have yielded surface showings of 0.3% to 1.4% U3O8.
In the summer of 2005, encouraging results were obtained south of
Hatchet Lake in an area west of Turkey Lake. Sandstone boulders were
found exhibiting alteration features and geochemistry common to all
the unconformity-related deposits in the eastern Athabasca Basin. Line
cutting and ground geophysics were completed on the claim block in
January 2006 followed by a weather-shortened 5-hole drill program. The
drill holes, totaling 376.7 metres intersected Athabasca sandstone
underlain by faulted basement rocks. Secondary hematite alteration
accompanies the faulting and fracturing in all the holes and in hole
C-04 there was radioactivity associated with the secondary hematite.
Slightly elevated values obtained for uranium, lead and yttrium are
considered to be favourable indicators of a mineralizing system
similar to that at the major deposits in the region. In addition, 17
drill core chips were analyzed by short-wave infrared reflectance
spectroscopy to determine the dominant clay mineralogy. The clay
alteration assemblages in the basement rocks were found to be
consistent with alteration phases recognized at uranium deposits/mines
in the area.
The Qualified Person on the project, as that term is defined in
National Instrument 43-101, is Daniel Studer, PGeo, of Saskatoon,
Sask.
Entourage Mining Ltd. has the right to earn 50% of the Hatchet Lake
claims from United Carina.
Plans for further exploration include summer prospecting, especially
in an area where a surface bedrock sample yielded an assay of 1.43%
U3O8. Further drilling will be conducted when logistics allow.
The Company is also pleased to report that a $350,000 exploration
program on its Middleton Lake property is about to begin. The property
lies just to the northwest of JNR Resources Inc.'s Way Lake project
where JNR reported bedrock surface samples grading up to 48% U3O8. The
program will start with an airborne VTEM survey to identify conductive
zones, which could host uranium.
United Carina has also ordered IKONOS high-resolution satellite
imagery covering the entire project area. This imagery will be
analyzed using lineament analysis, identifying structural settings to
aid in drill target selection. Ground geophysics will be conducted on
areas selected from the airborne survey and satellite imagery,
followed by drilling of all viable targets generated.
In Alberta, the Company is involved in diamond exploration. The Peace
River-Buffalo Head Hills diamond project is a 50%-50% JV between
United Carina Resources Corp. and Star Uranium Corp. and covers
184,048 hectares (454,792 acres) in 20 Metallic Minerals Permits
located 350 km north of Edmonton. Microprobe results from a further 29
till and stream sediment samples have now been received. Results
continue to be dominated by kimberlitic olivine grains of similar
geochemistry to those associated with Ashton Mining's 38 pipes 70 km.
to the NE. Microprobe analysis also confirms the presence of numerous
G-9 garnets with a rare G-10 garnet. Till sampling on the project has
returned kimberlitic indicators consisting of pyrope garnets, chrome
diopside, ilmenites, chromites and olivines which appear to define a
geographically restricted area of at least two populations of
anomalous indicators down ice of a cluster of geophysical targets. The
presence of two till sheets and several buried channels add some
complexity to the indicator mineral distribution. The indicators do
not appear to be derived from Ashton's pipes to the NE. Complete high-
resolution aeromagnetic data for the Peace River Block has now been
acquired. Exploration drilling, which had been deferred pending
receipt of the microprobe and geophysical data can now proceed on the
anomaly cluster and other priority targets. The program will be
underway once permits are in place. The Qualified Person for the
property is Paul A. Hawkins, PEng.
A final report will be received soon on the Company's 50% owned Anglo-
Rouyn copper-gold property near La Ronge, Saskatchewan.
In order to move towards becoming a pure uranium company, the Company
will continue to sell its non-uranium assets.
In Ukraine, good progress is being made in becoming involved in
uranium development.
The Company is well financed to carry out all of its exploration
plans. In order to ensure that the Company will be able to carry out
drilling its various properties, United Carina has purchased a 50%
interest in a Longyear 38 drill and all the necessary equipment. The
drill is being operated by a well-experienced drill crew under an
arrangement whereby the drillers are earning ownership of the drill
over a two-year period.
For more information please visit our website at www.unitedcarina.com.
ON BEHALF OF THE BOARD
Rick Walker, President