URCO Stock: Uranium 308 Corp.:Company Updates on Progress of Drilling Program at Janchivlan, Mongolia
New Highly Radioactive Zone Encountered in Area Not Previously Drilled or Trenched
LAS VEGAS, NEVADA -- (Marketwire) -- 09/09/08 -- Uranium 308 Corp.
(OTCBB: URCO stock) (the "Company") is pleased to announce the resumption of
its drilling program at Janchivlan, Mongolia, about 70 kilometers
southeast of Ulaan Baatar (see previous update in news release dated
July 24, 2008 at www.uranium308corp.com).
Diamond core drilling resumed after the drill rig moved to the North
Block target area on August 19, 2008 with one drill rig. The first hole
was completed on August 27, 2008 to a total depth of 495 meters and
surveyed to a depth of 487 meters with a radiometric probe through
drill pipe. Specific targets in this drill hole are uranium
mineralization in zones, coincident with fracturing and brecciation,
encountered in trenching and drilling from the 2007 program. These
zones were penetrated and, in addition, a new and highly radioactive
zone was encountered in an area not previously drilled or trenched.
Hole EDH-08-01 was drilled at -45 degrees, North 25 degrees East and
encountered anomalous radioactivity, at least 2 times background in
sixteen separate locations in the hole. Apparent thicknesses generally
vary from 1 meter to as much as 8 meters. Two notable radioactive zones
include a 23-meter thick zone at 27 meters depth that we believe
coincides with significant uranium mineralization encountered in the
2007 drill program. In the other zone, located at 415 meters, the drill
encountered an apparent thickness of 5 meters of 20 times background.
This second zone is one that has not been encountered before in
trenching or drilling, either during the 2007 program or by previous
operators. The high radioactivity in this new zone is very encouraging
and the zone will be tested again in the next drill hole.
Although no quantitative uranium grades are known for the above
radioactive zones at this time as the analytical results are pending,
management is very encouraged by the results so far.
This work is being done to Canadian National Instrument 43-101
standards and is being supervised by Dr. Earl W. Abbott, a Qualified
Person under NI 43-101.
On behalf of the Board of Directors,
Dennis Tan, CEO and Director
About Uranium 308 Corp.
Uranium 308 Corp. is a mineral exploration and development company
engaged in the acquisition, exploration and development of large scale
low-cost, high-value properties internationally. Uranium 308 Corp.'s
current primary focus is uranium exploration in Mongolia.
FORWARD LOOKING STATEMENTS: This news release may include
"forward-looking statements" regarding Uranium 308 Corp., and its
subsidiaries, business and project plans. Such forward looking
statements are within the meaning of Section 27A of the Securities Act
of 1933, as amended, and section 21E of the United States Securities
and Exchange Act of 1934, as amended, and are intended to be covered by
the safe harbor created by such sections. Where Uranium 308 Corp.
expresses or implies an expectation or belief as to future events or
results, such expectation or belief is believed to have a reasonable
basis. However, forward-looking statements are subject to risks,
uncertainties and other factors, which could cause actual results to
differ materially from future results expressed, projected or implied
by such forward-looking statements. Uranium 308 Corp. does not
undertake any obligation to update any forward looking statement,
except as required under applicable law.
