Nova Uranium Corporation
TSX VENTURE : NUC

Nova Uranium Corporation

January 18, 2007 16:05 ET

Nova Uranium Intersects a 12.54 Metre Section of 0.90 lbs/ton U3O8

Commences Phase III of Mount Laurier Drill Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - Nova Uranium (TSX VENTURE:NUC) is pleased to report that Phase III drilling has started on its Mont Laurier property in Quebec.

The start of Phase III comes after a month-long break from drilling that coincided with the holiday season. This allowed Nova to receive and analyze data from Phase II. Nova is drilling targets generated during its regional work program completed late December 2006 as well as assessing historical work on the property. Nova plans to drill a minimum of 15 holes during Phase III.

The focus of Phase III drilling will include the Tom Dick South, the No. 1 and the North Bear Zones. The Tom Dick South Zone has developed into a priority target and is a geologically exciting component of the property that Nova has not yet drilled. Planned drilling for the Tom Dick South will test numerous radioactive surface trenches and historical showings defined by both Mont Laurier Uranium Mines in the 1970's and more recently by Nova. Historical reports indicate Mont Laurier Uranium Mines collected five surface bulk samples from the Tom Dick South Zone, which contained a reported average of 1.36 lbs/t U3O8 (0.068%).

Drilling in the North Bear Zone during Phase III will target a possible enriched 'feeder' zone and will follow up on positive results from Phase II in this zone that include an intersection of 12.54 metres of 0.90 lbs/ton U308.

With an ample treasury, a large 228 square kilometre land package containing widespread uranium mineralization, and an experienced geological team, Nova is in excellent position to begin this aggressive phase of drilling in Mont Laurier.

Phase II Results

From October to early December 2006, Nova drilled a total 2,371 metres in 26 inclined holes, with depths ranging from 62 to 150 metres. A total of 12 holes were drilled on the Dyke 18 Complex, 3 holes on the North Bear Zone, 5 holes on Anomaly 13, 3 holes on Anomaly 12 and 3 holes in the South B Zone. Nova has received results for 20 of these 26 holes; holes 40 to 59.

Dyke 18 Complex Results (NV06-40 to 51)

The following table is a compilation of select highlight uranium intercepts within the Dyke 18 Complex. Note that core length intervals are not true widths.



-----------------------------------------------------------
Core
From To Length U308 U308
Hole metres metres metres(i) lbs/ton %
-----------------------------------------------------------
NV06-40 23.44 26.71 3.27 1.10 0.055
including 23.44 25.46 2.02 1.59 0.080
96.18 96.96 0.78 1.27 0.064
-----------------------------------------------------------
NV06-41 32.05 39.57 7.52 1.14 0.057
including 32.05 37.85 5.80 1.39 0.070
including 34.92 36.08 1.16 1.37 0.069
including 36.64 37.85 1.21 2.54 0.127
62.65 65.10 2.45 0.89 0.045
-----------------------------------------------------------
NV06-42 79.87 84.94 5.07 1.22 0.061
including 80.70 82.90 2.20 1.83 0.092
86.82 87.56 0.74 1.00 0.050
-----------------------------------------------------------
NV06-43 87.13 87.75 0.62 0.80 0.040
-----------------------------------------------------------
NV06-44 7.04 9.00 1.96 0.60 0.030
-----------------------------------------------------------
NV06-45 25.95 27.33 1.38 0.48 0.024
35.87 37.37 1.50 0.41 0.021
-----------------------------------------------------------
NV06-46 52.73 55.55 2.82 0.50 0.025
including 53.43 54.13 0.70 0.88 0.044
-----------------------------------------------------------
NV06-47 26.69 27.06 0.37 3.40 0.170
30.34 31.02 0.68 2.62 0.131
-----------------------------------------------------------
NV06-48 - - - NSV(ii) NSV(ii)
-----------------------------------------------------------
NV06-49 13.38 15.73 2.35 0.68 0.034
including 13.38 14.17 0.79 1.30 0.065
33.12 45.43 12.31 0.45 0.023
42.20 44.79 2.59 0.96 0.048
-----------------------------------------------------------
NV06-50 32.59 34.34 1.75 0.52 0.026
-----------------------------------------------------------
NV06-51 - - - NSV(ii) NSV(ii)
-----------------------------------------------------------
(i)Core length intervals are not true widths
(ii)NSV indicates no significant values


A total of 12 holes were drilled at semi-regular intervals along the 750 metre east-west trending strike length of the Dyke 18 Complex, testing both the main Dyke 18 Zone as well as subsidiary parallel dykes. The holes explored areas of high radioactivity associated with white pegmatite rocks identified in surface trenches and by Phase I drilling. Results of the combined surface trenching and Phase II drill campaign shows that the individual pegmatite dyke widths can be up to 15 metres wide and commonly have a near-vertical orientation; while complex zones of sill-dyke intersections are very difficult to interpret. Phase II drilling analytical results received to date reveals that uranium oxide contents are generally erratic varying from sub-anomalous to local intra-dyke highs of 3.3 lbs/ton (0.165%) U3O8 over 0.6 metres.

Holes NV06-40 to 42 were drilled in the immediate vicinity of vertical hole NV06-18, which as previously reported, contained a vertical interval of 1.96 lbs/ton (0.098%) U3O8 over 23.28 metres, including a high grade interval of 16.78 lbs/ton (0.839%) U308 over 1.5 metres. Holes 40 and 41 cut through the high grade interval from opposing orientations, while Hole 42 cut Dyke 18 approximately 70 metres down dip from surface. To the east and the west of NV06-18 uranium concentrations are highly variable and appear to decrease both in width and in grade.

North Bear Zone Results (NV06-52 to 54)

The North Bear Zone is located approximately 350 metres south of the Dyke 18 Complex and includes a cluster of surface radioactive anomalies over a minimum area of approximately 300 metres by 150 metres. These anomalies are associated with a complex mix of east-west trending fine grained granites and white pegmatite dykes and sills. The limits of the surface anomalies are unknown, since they are masked by overburden to the south and east.

The Phase III drill program will follow-up the significant North Bear Zone intercept of 12.54 metre section of 0.90 lbs/ton (0.045%) U308 (Hole NV06-53).

Vertical drill hole NV06-06 (Phase I drilling), located just on the north-central edge of the zone, intercepted a 33 metre long interval of mixed radioactive granite and pegmatite rocks (starting from the top of the hole; true width is unknown). Samples collected from Hole 6 reported moderate uranium values, including 8.79 metres of 0.31 lbs/ton (0.016%) U308. During Phase II drilling, three southerly trending holes were drilled at a dip of minus 50 degrees to test the sub-surface trace of the North Bear Zone anomaly. Holes 52 and 53 are located about 70 metres east of NV06-06, while hole 54 is located about 100m north-northwest of NV06-06. In Phase III of the drill program, an additional four inclined holes are planned for the South Zone, targeting a postulated enriched 'feeder' zone.

The following table is a compilation of select highlight uranium intercepts within the North Bear Zone. The true width of the stated core intervals is unknown.


-----------------------------------------------------------
Core
From To Length U308 U308
Hole metres metres metres(i) lbs/ton %
-----------------------------------------------------------
NV06-52 9.65 16.86 7.21 0.65 0.033
including 11.25 15.25 4.00 0.83 0.042
20.91 21.76 0.85 0.55 0.028
41.83 44.98 3.15 0.81 0.041
-----------------------------------------------------------
NV06-53 7.74 20.28 12.54 0.90 0.045
including 10.70 20.28 9.58 1.00 0.050
25.30 28.43 3.13 0.63 0.032
including 26.15 27.67 1.52 1.01 0.051
35.08 41.03 5.95 1.02 0.051
-----------------------------------------------------------
NV06-54 42.70 45.30 2.60 0.69 0.035
including 42.70 43.40 0.70 0.83 0.042
including 44.66 45.30 0.64 1.91 0.096
-----------------------------------------------------------
(i)Core length intervals are not true widths


Anomalies 12 & 13 + South B Zone

A total of five holes were drilled on Anomaly 13 (NV06-55 to 59) and three holes on Anomaly 12 (NV06-60 to 62). Three holes were drilled in the South B Zone (NV06-63 to 65), which is about one kilometre southwest of the Dyke 18 Complex. For all three of these anomalies, drilling tested the surface radioactivity anomalies associated with outcropping granites and pegmatite sills and dykes. Nova has received results for samples collected from Anomaly 13 drill core. Hole 58 yielded a highlight result of 2.75m of 0.54 lbs/t U308, while all other Anomaly 13 holes reported sub-anomalous uranium values. Analytical data for the remaining Phase II drill holes, 60 to 65 have not been received.

ON BEHALF OF THE BOARD

Donald G. Moore, Chairman, CEO and Director

- Mr. Michael Moore, PGeo is the qualified person who has reviewed the technical information contained in this news release on behalf of the Company.

Core samples were collected under the supervision of Mr. Richard Dufour, P.Eng. HQ diameter core was cut in half and the samples shipped to either SRC GeoAnalytical (Saskatoon SK) or Acme Labs (Vancouver BC) with the remaining half retained for reference. SGS is an ISO 9002 registered laboratory. Acme is an ISO 9001:2000 accredited laboratory. Samples from holes 40 to 47 were sent to SRC, all other samples were forwarded to Acme. The samples were prepared for analysis by fine crushing (75% passing a 2mm screen), then a 250 gram split was pulverized (85% passing a 75 micron screen). SRC a subjected a 0.125 gram split to a high temperature tri-acid near total digestion; Acme subjected a 0.25 gram split to a high temperature four acid very near total digestion. ICP spectrometry analyses were conducted on the digested solutions. All coarse rejects and sample pulps are currently stored at the SRC and Acme facilities.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange has approved nor disapproved the information contained herein.

Contact Information

  • Nova Uranium Corporation
    Donald G. Moore
    Chariman, CEO and Director
    (604) 687-7178 or Toll Free: 1-800-398-5645
    Website: www.novauranium.com