Uranium Hunter Corp. (URHN.OB) Announces Significant Aerial Survey Results at Ruhuhu Uranium Prospect Thursday, August 14th, 2008
There is always a chance for a reversal of fortune. When it comes to mining in many parts of the world, governments come and go but the land remains. East Africa is a solid example. Years of strife have started to recede in several parts of the region with capitalism, and the desperate search for capital, beginning to take hold. Finding a mining company that has a background in their country of choice and people in place who understand current conditions is a solid way to profit where others may fear to tread.
Uranium Hunter Corp., a uranium and gold exploration and development company, works to identify and exploit uranium and gold deposits primarily in Uganda and Tanzania. Based in Toronto Canada, the company has been having solid results with its exploration activities, and is expecting further progress in East Africa sooner rather than later.
Although the company could have focused its exploration activities anywhere in the world, it has chosen to identify deposits in Uganda and Tanzania because of the relative lack of exploration activities in the region owing to political and economic conditions. In the last 10 years, however, conditions within these two countries have stabilized and improved to a point where World Bank analysts have advised the countries leaders that mining of uranium and gold is the best way to generate much-needed revenue. With development capital as a catalyst, government cooperation is anticipated.
Furthermore, experts in the uranium exploration field indicate that there is a ten-year backlog of exploration activities to be completed for a true analysis of uranium and gold deposits in the region. Although not complete by any means, initial analysis would tend to suggest that significant deposits are easily within extraction parameters.
The company’s current analysis has focused primarily on its Uganda properties. Through aerial survey, it has identified 8 significant formations within its Ruhuhu prospect and 9 further delineated zones with RAD_1 to RAD_9 readings – readings that are considered significant. Background anomalies have indicated concentrations 5 times higher than background readings.
Clearly, the company has signed agreements with Tanzania and Uganda that hold significant prospects of investment return. Further assessment is needed to clearly delineate each prospect but return on investment is very likely regardless of prospect size. Uranium Hunter has done its legwork and bided its time; it is now ready to move forward with extraction and solid revenue for the foreseeable future.
Uranium Hunter Corp. (URHN.OB) Announces Positive Results from Helicopter Survey Tuesday, August 12th, 2008
Uranium Hunter Corp. announced today that the geophysical interpretation of the aeromagnetic and radiometric surveys commenced at its Ruhuhu Prospect have outlined as many as 8 outcropping zones of enhanced uranium activity. The 1,100 line km of airborne radiometric and magnetic data obtained by the airborne contractor was interpreted by GAP Geophysics of South Africa with the goal of mapping uranium anomalies of possible palaeochannel exploration interest. According to the company, some 9 subdivided zones of enhanced uranium activity (RAD_1 to RAD_9) have been interpreted, including anomalies whose responses are up to 5 times greater than background.
GAP Geophysics reported that the anomalous responses characterize Karoo sediments underlying the area and have comparable characteristics to uranium palaeochannel deposits in the Republic of South Africa Karoo, making them viable exploration targets. Uranium Hunter is providing the full report as a publication under the “Investor Relations” tab on the www.UraniumHunterCorp.com website.
Other uranium discoveries in similar rock formations to those found at the company’s Ruhuhu Prospect include the Kayelekera uranium deposit in Malawi, which is owned by Paladin Resources, and the Mkuju River project owned by Mantra Resources. The Kayelekera discovery has an inferred resource of 9.4 million tonnes ore at 0.12% U308, while the Mkuju project was recently reported to have thick zones of uranium mineralization.
“We are extremely encouraged by these results which continue to reaffirm the viability of our Ruhuhu project. With specific targets now identified, we are confident that further fieldwork will continue to follow this positive trend,” stated Ghaith Qamheiah, President of Uranium Hunter.
Uranium Hunter Corporation (URHN.OB) is Working to Become Established Leader in the Uranium Hunt Monday, August 11th, 2008
Uranium Hunter Corporation (OTC: URHN) is a natural resource company devoted to the exploration and development of deposits of uranium in East Africa. The company has acquired properties in Tanzania that further enhance their position to become a leader within the energy industry.
Tanzania is one of Africa’s leading countries as far as mining for gold and other precious metals is concerned. The northwest part of the country is now an important producer of gold, producing over one million ounces in 2005, and shows potential for greater output in that region and other regions located within the country. Three companies have already commenced mining operations in Tanzania, including Barrick Gold (ABX: NYSE), Anglo-America Ashanti (ANGLY: NASDAQ), and Resolute Mining (RSX: ASX). Uranium Hunter sees great opportunity for uranium in the same way that gold has become an important component of the national economy of Tanzania.
Uranium is definitely a sector of exploration that holds enormous revenue and growth possibilities for companies engaging in exploration, development, and production of renewable energy sources to help combat the world’s energy problems. To date there are only four companies that produce 55% of uranium worldwide. These four companies are Cameco, Areva, Rio Tonto Energy Group, and WMC Resources, Ltd.
Currently, the company has optioned a 170-kilometer square property in the southern part of Tanzania covering sediments of the Karoo sequence which share common features with rocks of the Colorado Plateau in the western United States that have been prolific producers of uranium. Uranium can be found in Karoo rocks in Tanzania and northern Malawi, where Paladin Resources has already produced a positive feasibility study for an open pit uranium mine.
Uranium Hunter’s property was chosen for its diversity of geological features, including presence of rocks of the same horizon as the Paladin Resource Discovery. In south Tanzania, Uranex, a uranium exploration company, has achieved the first major exploration milestone by confirming extensive uranium mineralization at their flagship Bahi project.
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