URSA Major Minerals Incorporated
TSX : UMJ

URSA Major Minerals Incorporated

October 05, 2007 10:55 ET

URSA Major Minerals Reports Exploration Results on Worthington-Bell Nickel Project, Worthington Offset Dike, Sudbury Area, Ontario

TORONTO, ONTARIO--(Marketwire - Oct. 5, 2007) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S. NEWS WIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES.

URSA Major Minerals Incorporated (TSX:UMJ) ("URSA Major") announces that it has received encouraging preliminary results from the company's Worthington Bell property, located in Lorne Township, 40 km west of Sudbury, Ontario.

URSA Major completed 2 diamond drill holes to depths of 977 metres and 725 metres respectively. Both holes intersected the highly favourable rock fragment-bearing quartz diorite phase of the offset dike with disseminated sulphide mineralization and localized sulphide veins. A 35 cm core sample from hole U14-1A with chalcopyrite veining returned 3.74% copper, 0.29% nickel, 3.07 g/t gold, 2.68 g/t platinum and 7.89 g/t palladium at a depth of 490 m. Wider intervals of anomalous disseminated sulphide mineralization in hole U14-1A included an 8 meter intersection from 430 meters containing 0.16% nickel, 0.19% copper and 0.53 g/t platinum group metals plus gold and a 24 meter intersection from 344 meters containing 0.14% nickel, 0.15% copper and 0.42 g/t precious metals. Both holes were drilled parallel to the dip of the dike in order to maximize the utilization of bore holes for down hole EM surveys and intersections reported are not indicative of true thicknesses.

The 2 holes completed by URSA Major as well as two holes drilled by previous operators were probed with Lamontagne Geophysics Ltd.'s down hole UTEM system.

Richard Sutcliffe, URSA Major's President and CEO stated, "This program is testing a highly prospective geological environment. The drilling encountered anomalous mineralization as well as localized narrow high-grade veining. The company will evaluate these results and the geophysical response to determine where further drilling is warranted."

On the Worthington Bell Property disseminated to net-textured sulphides (pyrrhotite, pentlandite, and chalcopyrite) has been previously exposed by surface trenching over a 250 meter strike length within the central, inclusion-bearing portion of the Worthington Offset Dyke. Near-surface drilling on the property by previous operators has returned several mineralized intersections including a 2.62 meter intersection grading 1.26% nickel, 0.45% copper and 13.43 g/t platinum group metals plus gold.

URSA Major's Worthington Bell option covers 1.2 kilometers of strike length of the Worthington Offset Dike. This dike extends for approximately 12 kilometers from the Sudbury Igneous Complex and is the host to several nickel-copper mines and deposits. Most notably, the Totten Mine Extension, owned by CVRD-Inco is located approximately 6 kilometers northeast of URSA's property on the Worthington offset dike. The Totten Mine Extension contains approximately 10 million tonnes of 1.50% nickel, 2.0% copper and 4.8 grams per tonne of palladium and platinum. CVRD-Inco recently announced that it will spend $400 million (CDN) to reopen the Totten Mine and expect it to be in full operation by 2011.

Drill core was halved and samples with a nominal 1.0 meter length were analyzed at SGS-XRAL Laboratories, Toronto, using fire assay for platinum, palladium, and gold and ICP with multi-acid digestion for copper, nickel, and cobalt. Harold Tracanelli, P.Geo. is supervising the drill program on the Worthington Bell property and is the Qualified Person under National Instrument 43-101.

URSA Major also announces that Mr. Bruce W. Mackie, P. Geo., has resigned as Vice President of Exploration and Corporate Development. Mr. Mackie is thanked for his contributions over the past year and will continue to work with the Company as a consultant.

Address: 8 King Street East, Suite #1300, Toronto, Ontario, Canada M5C 1B5

This release was prepared by management of the Company who takes full responsibility for its contents.

Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • URSA Major Minerals Incorporated
    Richard Sutcliffe, Ph.D., P.Geo
    President & CEO
    (416) 864-0615
    (416) 864-0620 (FAX)
    or
    URSA Major Minerals Incorporated
    Chris Chadder, C.A.
    CFO
    (416) 864-0615
    (416) 864-0620 (FAX)
    Email: info@ursamajorminerals.com
    Website: www.ursamajorminerals.com
    or
    URSA Major Minerals Incorporated
    Gus Garisto
    Investor Relations
    Cell: (416) 805-3106