Market Pulse Breaking News Alert for Thursday, May 29, 2008: BCFT - Bancroft Uranium Reports Positive Initial Drilling Results a
May 29 2008 - 8:30AM
Marketwired
ATLANTA, GA , Beacon Power Corporation (NASDAQ: BCON), Akeena
Solar Inc. (NASDAQ: AKNS) and Voyant International Corporation
(OTCBB: VOYT).
Investors need to be watching Bancroft Uranium Inc. (OTCBB:
BCFT) this AM! Bancroft Uranium is an emerging mining company
focused on the exploration and development of previously
identified, historically significant, yet undeveloped known uranium
properties. Bancroft controls an extensive regional play totaling
over 9,000 acres of mineral claims in Ontario, Canada that are
prospective for uranium. 2,700 acres are currently under lease and
being explored at the Monmouth Project (two hours north of
Toronto). The Monmouth Uranium Project is envisioned to have the
potential of a low cost, open pit uranium producer located close to
infrastructure and end product buyers. Uranium was discovered at
this prospect in the early 1950s when prices were less than $10.00
per pound. The Bancroft area is well known for its long history in
uranium mining, having produced a total of 14,862,653 lbs U3O8
between 1956 and 1982 from four local mines. In 1968, an
engineering report by S.W. Evans was filed as a listing prospectus
to the Toronto Stock Exchange for Northern Nuclear, the owner at
that time. The report estimated from drill results the potential of
2 million tons containing 0.045% (0.9 pounds per ton) or 1,800,000
pounds of U3O8. Bancroft commenced a 2008 surface diamond drilling
program on February 25th that was designed to drill in areas that
returned historic drill results from the 1968 program. Once the
drill program is complete, engineers will undertake a geological
report which will ultimately lead to a uranium resource calculation
of the in-situ tons and contained pounds of uranium. The company
has also begun early stage efforts in the Long Lac area and the
prolific Elliot Lake Uranium camp. Recent unprecedented rises in
the price of Uranium have been over $90 per pound recently with
extraordinary fluctuations exceeding $135/lb. These prices reflect
a 1000% increase over the past 7 years -- with most of these gains
occurring within the past 2 years. Currently, 439 active reactors,
34 new power reactors are under construction and 304 plants are on
order/planned or proposed. Existing global supply does not meet
current demand thereby creating significant opportunities for
long-term growth. The company is led by a highly skilled and
experienced board with noteworthy success in managing mineral
exploration projects from early stage to production. Bancroft
Uranium is poised to become a significant player in the uranium
industry! Bancroft Uranium just had excellent news out in a press
release before today's opening bell announcing the first drilling
results from the spring 2008 surface drill program being conducted
at the Monmouth Uranium Project, near Bancroft, Ontario! Bancroft
Uranium also said initial assays returned from the pegmatitic rocks
are better than expected based on the historical work! Investors
should be watching this one closely!
Bancroft Uranium Inc. (OTCBB: BCFT) is pleased to announce the
first drilling results from the Spring 2008 surface drill program
being conducted at the Monmouth Uranium Project, near Bancroft,
Ontario. Noteworthy assay results from the first 13 holes are
outlined below.
The 2008 Exploration Phase 1 drill program commenced on February
25th and was designed to focus on areas in and around the
historical drill results from the 1969 program bringing it into
modern N.I. Policy 43-101 compliance, a recognized world mining
standard. The drilling is also designed extend the known strike
length of the skarn which hosts the uranium mineralization with the
aim of expanding the current estimated 1,800,000 lbs U3O8 potential
at Monmouth.
Initial drill assays and intervals are from holes drilled from
the most southwesterly exposure of the host rock skarn (altered
limestone) and are spaced approximately 100 feet apart. Significant
results are as follows. Assays are noted as lb representing lbs/ton
U3O8 over feet:
08-1 0.803 lb/12.5' from 55.3 to 67.8 feet in skarn, 0.344 lb/30.5'
from 182.1 to 212.6 feet in pegmatite and 0.805 lb/13.8' from
276.2 to 290.0 feet in skarn including 1.02 lb/9.3' from
280.7-290.0 feet. Visible uraninite was noted
08-5 0.139 lb/34.8' from 235.6 to 270.4 feet in pegmatite
08-6 0.466 lb/10.0' from 16.0 to 26.0 feet in pegmatite
08-7 0.291 lb/7.9' from 44.0 to 51.9 feet in skarn with visible
uraninite
08-8 0.540 lb/60.6' from 15.0 to 75.6 feet in skarn
08-9 0.596 lb/51.9' from 31.0 to 82.9 feet including 0.315 lb/14.9'
from 31.0 to 45.9 feet and 0.923 lb/24.5' from 51.0 to 82.9 feet
with visible uraninite, molybdenum
08-10 0.740 lb/52.2' from 12.8 to 65.0 feet including: 0.915 lb/32.0'
from 12.8 to 44.8 feet and 0.616 lb/15.0' from 50.0 to 65.0 feet
in skarn with visible uraninite
08-12 0.513 lb/49.9' from 6.3 to 56.2 feet in skarn with visible
uraninite noted
08-13A 0.332 lb/25.1' from 9.3 to 34.4 feet with visible uraninite noted
The above holes represent testing across the initial 300 feet of
historical strike length which totals 1,500 feet. Early results
have verified the location, thickness and flat lying geometry of
uranium bearing skarn system intersected in the historical
drilling. U3O8 assays have been returned from both uraninite
bearing bright orange colored calcite alteration in the skarn and
from several pegmatite bodies in and adjacent to the skarn package.
Initial assay results from the skarn rocks appear to validate the
historical data. As drill holes progress through the central
portion of the deposit, the historical intersected thicknesses of
the uranium bearing skarn appear to increase as do grades based on
limited assay data. Initial assays returned from the pegmatitic
rocks are better than expected based on the historical work.
The geological modeling of the deposit is now coming into focus
with the alteration zone rock package dipping at a fairly
consistent 25-30 degrees, amenable to a potential open pit
scenario.
All of Bancroft Uranium's exploration programs are designed and
supervised by Qualified Persons ("QP") under the N.I. Policy
43-101, who ensure that programs are carried out using current
industry "Best Practices." The spring 2008 drilling program was
supervised by Murray McGill P.Geo (QP). The NQ size core was logged
by Mr. McGill and split on site. Half core samples were analyzed
using standard Delayed Neutron Counting (DNC) methods by Activation
Laboratories in Ancaster, Ontario. Activation Laboratories employs
rigorous in house QA/QC procedures in the DNC process.
Bancroft will release a second batch of drill results
shortly.
For inquiries from the public and media concerning the Monmouth
Uranium Project please contact Greenspirit Strategies at 1-877-54
GREEN or 1-877-544-7336. For shareholder and investor information
please contact investor relations at 1-866-860-2995.
About Bancroft Uranium Inc.
Bancroft Uranium Inc. is an exploration company which intends to
develop Uranium assets in North America. Bancroft's initial asset,
the Monmouth Uranium Project is envisioned to have the potential of
a low cost, open pit uranium producer located close to
infrastructure and end product buyers. To find out more about
Bancroft Uranium Inc., visit the website at
www.bancrofturanium.com.
Stocks in the news and acting well as of late include: Beacon
Power Corporation (NASDAQ: BCON), Akeena Solar Inc. (NASDAQ: AKNS)
and Voyant International Corporation (OTCBB: VOYT).
Information contained herein is the opinion of Market-Pulse.com
("MP") and is intended to be used strictly for informational
purposes. You should be aware that MP attempts to assure itself of
the accuracy of the information contained in the analyses it
publishes. In this regard, MP does, at times, rely on the accuracy
of information supplied to it by the companies which are the
subject of MP's analyses and/or parties related to those companies.
MP also relies on the accuracy and integrity of information that is
contained in company press releases and reports filed with the SEC.
The companies mentioned in this publication have not approved the
content or timing of the information being published unless
otherwise noted.
MP, because it relies on information supplied by various third
parties disclaims any responsibility for the accuracy of such
information. Any investor considering making an investment in any
security which has been the subject of a MP analysis or opinion
should, before making any such investment, consult with his/her
market professional and/or do his/her own independent research
regarding the company which is the subject of an MP opinion,
recommendation or analysis. Information regarding companies which
MP has opined upon is normally available from many sources
including the subject company's filings with the SEC and various
press releases issued by the company.
You should be aware that MP is often compensated for issuing
analyses, recommendations or opinions concerning particular
companies. Its opinion is therefore not unbiased and you should
consider this factor when evaluating MP's statements regarding a
company. MP has been compensated seventy five thousand dollars from
a third party for its coverage of Bancroft Uranium Inc. MP's
officers and directors reserve the right to buy additional shares
of the companies discussed in this opinion and may profit in the
event those shares rise in value. When MP receives shares as
compensation for a profiled company, MP may sell part or all of any
such shares during the period in which MP is performing such
services. Market-Pulse.com and Market Pulse Breaking News Alert are
owned by Market Pulse LLC.
Contact: Market Pulse 800.290.8935 Email Contact
Voyant (CE) (USOTC:VOYT)
Historical Stock Chart
From Sep 2024 to Oct 2024
Voyant (CE) (USOTC:VOYT)
Historical Stock Chart
From Oct 2023 to Oct 2024