Nova Uranium Corporation
TSX VENTURE : NUC

Nova Uranium Corporation

June 12, 2007 08:55 ET

Nova Expands Zone 1 and Drills 42.96 Metres of 0.51 lbs/ton U308 Close to Surface

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2007) - Nova Uranium (TSX VENTURE:NUC) is pleased to report results from the company's Phase III drill program on its wholly-owned uranium property in Mont Laurier, Quebec. These results include wide intersections of good grade uranium mineralization in an expanded Zone 1 and in the Tom Dick North Zone, an area of interest that the company has not drilled prior to this phase of drilling.

The results include 42.96 metres of 0.51 lbs/ton U308 and 40.18 metres of 0.48 lbs/ton U308. These results are in addition to previously announced results from Zone 1 which included 41.81 metres of 0.51 lbs/ton U308.

Don Moore, Chairman of Nova, states, "With the price of Uranium at a multi-year high of 135 US dollars per pound, these wide near-surface intersections grading a half pound per ton are very exciting. For people who believe the price of uranium is headed higher, these numbers in combination with previous results we have generated while drilling at Mont Laurier, will look even more interesting. This project is located in a mining-friendly jurisdiction, with great road access and major hydro electricity close by. We are targeting an open-pit type mining configuration in Mont Laurier and are pleased with these wide surface intersections of good grade in multiple areas of the large property."

In addition to the results from Zone 1, Nova has also drilled wide near-surface uranium intercepts in the Tom Dick North Zone, where drill hole samples have yielded widths ranging from 11.06 to 52.95 metres long with uranium oxide concentrations ranging from 0.23 to 0.38 lbs/ton. The Tom Dick North Zone was the focus of advanced exploration efforts in the 1970's and 1980's and covers a northeast trending airborne uranium anomaly measuring approximately 900 metres long by 250 metres wide. Drilling of the Tom Dick South Zone have yielded a wide range of results, most of which report moderately anomalous uranium oxide values over widths from about one to thirteen metres. Drilling on the North Bear Zone tested the strike extension (200 metres to both the east and west of the previously announced Hole NV06-53 which contained 12.54 metres of 0.90 lbs/ton U308) and yielded results including 9.30 metres of 0.45 lbs/ton U308. Nova also drilled 4.83 metres of 0.89 lbs/ton U308 (including 3.24 metres of 1.19 lbs/ton U308) in the South B Zone of the property which is approximately one kilometre southwest of the Dyke 18 Complex.

Nova's Phase III drill program was completed in May 2007, taking four months to complete. This phase tested uranium targets in Zone 1, North Bear, South B and the Tom Dick North and South Zones. A total of 37 holes were drilled, totalling 3,301 metres in both inclined and vertical holes with depths ranging from 48 to 156 metres. Complete analytical results (including previously released results) of Phase III drilling at Mont Laurier can be found below. Select drill hole location maps will be soon available on Nova's website.

In preparation for further drilling, Nova will now follow-up ground exploration of priority radioactivity anomalies. The work will include geological mapping and prospecting, trenching and detailed geophysical surveying with drilling to follow as required. In addition to the work planned at Mont Laurier this summer, Nova is also in the process of developing initial exploration plans for their uranium exploration property in the highly prospective Otish Basin Uranium Camp.

Zone 1 Results (DDH: NV07-75 to 88)

Zone 1 is located on the northwest side of the property and is marked by a strong circular airborne uranium anomaly about 400 metres in diameter. The limits of this uranium geophysical anomaly are masked by soil and swamp, particularly to the north and west. However, historical records indicate that an area measuring roughly 1,000 metres long by 250 metres wide was previously drill tested by Canadian Johns Manville in the late 1960's to mid-1970's; the results for the majority of these historical drill holes are lost. Nova's exploration shows that the uranium-enriched white pegmatite sills are hosted within a mix of diorite and metasediments, with a dominant orientation of east to west trending with a shallow north dip. Nova has drilled fourteen holes on the Zone 1 showing, testing an area of about 200 long by 100 metres wide.

Significantly, holes 77 to 80 and 83 to 87, drilled in the central and southwest portions of the Zone 1 anomaly, yielded consistent and notable uranium concentrations over significant widths. The most notable holes are 78, 80, 83, 85, 86 and 87 which report widths ranging from 8.01 to 42.96 metres long with uranium concentrations ranging from 0.32 to 0.51 lbs/t U3O8. These drill holes include higher grade uranium intervals such as 15.96 metres of 0.74 lbs/t U3O8, 5.32 metres of 1.61 lbs/t U3O8, 1.29 metres of 4.40 lbs/t U3O8 and 12.08 metres of 0.90 lbs/t U3O8. Drill holes 75, 76, 82 and 88 were collared on the north limit of the test area and appear to mark the northern limit of the uranium mineralization. Analyses from samples collected from these four holes yielded moderately anomalous uranium values over widths up to 4.68 metres. More widely-spaced drillholes are planned to more aggressively test both the dip and strike extensions of the Zone 1 uranium mineralization.



Zone 1 Selected Results (DDH: NV07-75 to 88)
NOTE: holes 77 to 81 were previously reported on March 28, 2007
(NR 2007-4).

-----------------------------------------------------------------------
Core
From To Length U308 U308
Hole metres metres metres(i) lbs/ton %
-----------------------------------------------------------------------
NV07-77(ii) 0.00 10.24 10.24 0.74 0.037
including 3.33 7.93 4.60 1.09 0.055
-----------------------------------------------------------------------
NV07-78 1.50 43.31 41.81 0.51 0.026
including 7.25 14.95 7.70 0.69 0.035
and 27.35 43.31 15.96 0.74 0.037
and 37.99 43.31 5.32 1.61 0.081
-----------------------------------------------------------------------
NV07-79 4.67 7.53 2.86 1.14 0.057
including 5.30 5.93 0.63 4.28 0.214
36.98 44.29 7.31 0.94 0.047
39.17 43.56 4.39 1.39 0.070
-----------------------------------------------------------------------
NV07-80 3.77 39.18 35.41 0.39 0.020
including 3.77 10.16 6.39 0.47 0.024
and 20.12 24.70 4.58 0.64 0.032
and 30.84 39.18 8.34 0.80 0.040
36.90 39.18 2.28 0.95 0.048
-----------------------------------------------------------------------
NV07-81 33.62 35.12 1.50 0.61 0.031
51.98 53.27 1.29 2.24 0.112
-----------------------------------------------------------------------
NV07-82 4.26 5.65 1.39 0.47 0.024
-----------------------------------------------------------------------
NV07-83 10.90 53.86 42.96 0.51 0.026
including 27.54 30.27 2.73 1.33 0.067
and 38.08 39.37 1.29 4.40 0.220
and 50.84 53.86 3.02 1.52 0.076
-----------------------------------------------------------------------
NV07-84 11.88 15.04 3.16 0.28 0.014
21.36 26.10 4.74 0.25 0.013
37.19 43.61 6.42 1.08 0.054
-----------------------------------------------------------------------
NV07-85 8.42 48.60 40.18 0.48 0.024
including 27.23 39.31 12.08 0.90 0.045
and 34.64 39.31 4.67 1.58 0.079
-----------------------------------------------------------------------
NV07-86 15.91 17.43 1.52 1.02 0.051
20.49 45.87 25.38 0.29 0.015
including 31.30 45.87 14.57 0.41 0.021
54.03 57.12 3.09 0.57 0.029
-----------------------------------------------------------------------
NV07-87 2.20 4.66 2.46 0.51 0.026
11.56 17.47 5.91 0.21 0.011
23.13 31.14 8.01 0.32 0.016
including 23.13 24.59 1.46 1.29 0.065
43.05 51.75 8.70 0.35 0.018
including 47.50 51.75 4.25 0.64 0.032
-----------------------------------------------------------------------
NV07-88 11.84 13.36 1.52 0.35 0.018
55.70 56.70 1.00 0.28 0.014
-----------------------------------------------------------------------
(i) Core length intervals are not true widths
(ii) An estimated 1.1 metres of core was lost over the interval from 0.0 to
3.0 metres in hole NV07-77


Tom Dick Zones (DDH: TD07-01 to 13)

The Tom Dick North and South Zones are located close to the central-west border of the Mont Laurier property and includes numerous radioactive surface trenches and historical showings defined by both Mont Laurier Uranium Mines and Soquem in the 1970's and early 1980's. The Tom Dick North anomaly is located about one kilometre north of the Tom Dick South Zone and includes a number of historically significant drill holes. Nova has drilled four holes at Tom Dick North, TD07-01 to 04 and ten holes at Tom Dick South Zone (TD07-05 to 13, plus 05A) testing both historical and newly defined radioactive zones.

The Tom Dick North zone covers a northeast trending airborne uranium anomaly about 900 metres long by 250 metres wide, defining outcropping uranium enriched pegmatites and granites, which also trend northeast and dip shallowly to the west. Nova's drillholes were drilled at an inclination of 60 degrees to the east, testing both the down dip extension of surface exposed uranium mineralization and the validity of historical drill data. Drillhole sample results yielded widths ranging from 11.06 to 52.95 metres long with uranium oxide concentrations from 0.23 to 0.38 lbs/t. The results include higher grade uranium intervals such as 4.45 metres of 0.49 lbs/t U3O8, and 5.14 metres of 0.53 lbs/t U3O8. Nova's drill data correlates well with the results of the nineteen historical diamond drill holes, which reported intercepts of similar uranium concentrations and widths. When combined, Nova's drill holes and the historical drillholes test a strike length of about 700 metres. Future drill testing of this extensive, albeit a lower grade zone will focus on the down dip extensions of the richer mineralized portions of this voluminous package of uranium rich rocks, testing for higher grade uranium mineralization.

Drillhole TD07-01, located about 500 east of the north end of the Tom Dick North zone, tested a historical showing that is co-incident with a small airborne uranium anomaly. No samples were collected from this hole due to low radioactivity of the core. A recent follow-up inspection of outcrops in this area indicates that historical data was flawed and hole TD07-01 was oriented incorrectly.



Tom Dick North Selected Results (DDH: TD07-01 to 04)

-----------------------------------------------------------------------
Core
From To Length U308 U308
Hole metres metres metres(i) lbs/ton %
-----------------------------------------------------------------------
TD07-02 75.16 95.08 19.92 0.33 0.017
including 75.16 87.51 12.35 0.39 0.020
and 83.06 87.51 4.45 0.49 0.025
-----------------------------------------------------------------------
TD07-03 7.31 60.26 52.95 0.23 0.012
including 7.31 17.74 10.43 0.30 0.015
and 25.91 38.23 12.32 0.35 0.018
-----------------------------------------------------------------------
TD07-04 2.08 25.20 23.12 0.29 0.015
including 2.08 13.14 11.06 0.38 0.019
56.61 61.69 5.13 0.39 0.020
66.30 71.44 5.14 0.53 0.027
-----------------------------------------------------------------------
(i) Core length intervals are not true widths


The Tom Dick South zone covers an irregular bi-lobed northward trending airborne uranium anomaly measuring about 600 metres long by 350 metres wide, defining outcropping uranium enriched pegmatites. This area was the focus of intense exploration (including drilling and trenching) by Mont Laurier Uranium Mines in the early 1970's. Nova's exploration efforts have revealed that the orientation of local rocks is very complex having been intensely folded and structurally disrupted. Nova drilled ten holes in the area, testing an area measuring about 350 by 300 metres. In general, drill core samples have yielded moderate uranium oxide values over widths from about one to thirteen metres.



Tom Dick South Selected Results (DDH: TD07-05 to 13, plus 05A)

-----------------------------------------------------------------------
Core
From To Length U308 U308
Hole metres metres metres(i) lbs/ton %
-----------------------------------------------------------------------
TD07-05 6.53 19.45 12.92 0.26 0.013
including 9.57 14.89 5.32 0.39 0.020
-----------------------------------------------------------------------
TD07-05A 7.75 19.40 11.65 0.25 0.013
including 12.56 14.82 2.26 0.46 0.023
45.40 47.60 2.20 0.46 0.023
-----------------------------------------------------------------------
TD07-06 22.32 33.91 11.59 0.23 0.012
58.55 60.86 2.31 0.36 0.018
-----------------------------------------------------------------------
TD07-10 19.29 21.09 1.80 0.48 0.024
-----------------------------------------------------------------------
TD07-11 10.63 15.19 4.56 0.45 0.023
80.73 85.16 4.43 0.32 0.016
-----------------------------------------------------------------------
TD07-12 3.59 8.61 5.02 0.26 0.013
including 6.35 7.85 1.50 0.64 0.032
-----------------------------------------------------------------------
TD07-13 8.00 9.00 1.00 0.59 0.030
14.77 16.11 1.34 0.59 0.030
108.10 112.46 4.36 0.25 0.013
-----------------------------------------------------------------------
(i) Core length intervals are not true widths


Results for the North Bear and South B Zone were reported earlier on March 28, 2007 (NR 2007-4), however, they are included here to provide a comprehensive summary of the Phase III drill program.

North Bear (DDH: NV07-67 to 73)

The North Bear Zone is about 350 metres south of the Dyke 18 Complex and includes a cluster of surface radioactive anomalies over an area of about 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. Seven southward trending holes were drilled at a dip of 45 degrees during the Phase III drill program. The holes tested the strike extension (200 meters to the east and the west) of hole NV06-53, which Nova previously reported containing the significant intercept of 12.54 metres of 0.90 lbs/ton. Sampling results show that the pegmatite-hosted uranium mineralization in the North Bear Zone is locally strong but may be of limited extent. Select results from this zone are in the table below.



North Bear Selected Results

-----------------------------------------------------------------------
Core
From To Length U308 U308
Hole metres metres metres(i) lbs/ton %
-----------------------------------------------------------------------
NV07-67 9.46 18.48 9.02 0.29 0.015
32.80 42.10 9.30 0.45 0.023
including 32.80 34.26 1.46 1.17 0.059
39.88 42.10 2.22 0.59 0.030
-----------------------------------------------------------------------
NV07-68 53.06 54.62 1.56 0.46 0.023
-----------------------------------------------------------------------
NV07-69 7.96 10.96 3.00 0.60 0.030
13.96 14.71 0.75 0.79 0.040
-----------------------------------------------------------------------
NV07-70 8.87 9.63 0.76 1.20 0.060
18.29 19.17 0.88 0.38 0.019
-----------------------------------------------------------------------
NV07-71 10.18 12.54 2.36 0.36 0.018
17.09 20.32 3.32 0.40 0.020
-----------------------------------------------------------------------
NV07-72 31.47 36.37 4.90 0.33 0.017
-----------------------------------------------------------------------
NV07-73 6.52 8.75 2.23 0.59 0.030
49.90 52.15 2.25 0.89 0.045
-----------------------------------------------------------------------
(i) Core length intervals are not true widths


South B (DDH: NV06-63 to 65 and NV07-66 & 74)

The South B Zone is located about one kilometre southwest of the Dyke 18 Complex. Drilling tested surface radioactivity anomalies associated with outcropping granites and pegmatite sills and dykes. A total of five holes have been drilled in the South B Zone; three Phase II drill holes NV06-63 to 65 and two Phase III drill holes NV07-66 and 74. Hole 66 yielded a highlight result of 4.83 metres of 0.89 lbs/t U308, including 3.24 metres of 1.19 lbs/t U308. Hole 74 contains highlight results of 5.21 metres of 0.24 lbs/t U308 and 2.05 metres of 0.86 lbs/t U308. Holes 63 to 65 reported weak to sub-anomalous uranium values. Results show that the uranium mineralization in the South B Zone is locally strong but appears to be of limited extent.

Further information is available on the company's website www.Novauranium.com.

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 Acme Labs (Vancouver BC) with the remaining half retained for reference. Acme is an ISO 9001:2000 accredited laboratory. 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). Acme subjected a 0.25 gram sub-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 Acme facilities.

No Stock Exchange has approved or disapproved the information contained herein.

Contact Information

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