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Share Name | Share Symbol | Market | Type |
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Karoo Exploration Corporation | TSXV:UUC | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
United Uranium Corp. (TSX VENTURE:UUC). The Company is pleased to announce exploration programs for 2008. A winter program of diamond drilling is planned on the South Bear project located within the Athabasca Basin near its eastern margin. The property has both radiometric and geochemical anomalies and has not been previously drilled. This drilling is aimed at exploring the potential for a high grade "unconformity type" uranium deposit. Government of Saskatchewan reports state that the 30 deposits discovered to date in the Athabasca Basin contain a resource of 587,000 tones of U at an average grade of 1.97% U. A program of overburden drilling and ground geophysics at our Peace River-Buffalo Head Hills diamond joint venture (50% United Uranium Corp., 50% Star Uranium Corp.) in Northern Alberta is scheduled to start in late January. Samples obtained from the drill cuttings will be analyzed for kimberlite indicator minerals and the results will be used to locate any kimberlite pipes on the property. A follow-up program likely involving diamond drilling will take place later in the year. The Peace River-Buffalo Head Hills property is located 70 km to the southwest of the Diamondex/Shore Gold JV cluster of kimberlite pipes. In the Fort a La Corne area east of Prince Albert, Saskatchewan, United Uranium Corp. has a number of claims in a 50/50 joint venture with Star Uranium Corp. (TSX VENTURE:SUV). One kimberlite pipe was discovered several years ago and some drilling was carried out. Further work on these properties is planned for the summer of 2008. At the moment, 25 of the claims are in legal limbo because of a dispute with Shore Gold, as referenced in the Company's press release dated January 4, 2008. ON BEHALF OF THE BOARD Eric Wray, President
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