Nova Uranium Corporation

Nova Uranium Corporation

March 28, 2007 13:36 ET

Nova's Zone 1 Yields 41.81 Metres of 0.51 lbs/ton U308 Including 5.32 Metres of 1.61 lbs/ton U308

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2007) - Nova Uranium (TSX VENTURE:NUC) is pleased to report initial results from Phase III of the company's ongoing drill program in Mont Laurier, Quebec. The results include an intersection of 41.81 metres of 0.51 lbs / ton U308 within which is a higher grade section of 5.32 metres of 1.61 lbs / ton U308.

"With the price of Uranium currently at a multi-year high of over ninety US dollars per pound wide surface intersections grading half a pound per ton are very exciting. Even more so when they are obtained in a very accessible and mining-friendly area in Southern Canada," said Don Moore, Chairman of Nova. He continued, "Nova's Mont Laurier project is clearly in a uranium-rich area and our hard work over the last year is beginning to pay off. We take our hats off to our exploration group; especially the Quebec-based field crews and we look forward to more exciting results."

Phase III of Nova's ongoing drill program started in January 2007. This drilling is testing uranium targets generated during last year's regional work program and is also assessing historical showings on the property including Zone 1, North Bear and the Tom Dick North and South Zones. A total of 28 holes have been drilled to date totalling 2,450 metres in both inclined and vertical holes, with depths ranging from 48 to 129 metres; 2 holes were drilled on the South B Zone, 7 holes on the North Bear Zone, 13 holes on the Tom Dick Zones, and 6 holes on Zone 1. Nova has received analytical results for 15 of these 28 holes. No analytical results are yet available from the Tom Dick Zones.

Zone 1 Results (NV07-75 to 81)

The historical Zone 1 anomaly is about 2.5 kilometres southwest of the Dyke 18 Complex and is marked by a strong circular airborne uranium anomaly about 400 metres in diameter. The limits of this uranium anomaly are unknown since the geophysical signatures are masked by soil and swamp, particularly to the north and west. Nova's 2006 field work revealed that the uranium-enriched white pegmatite sill rocks are hosted within a mix of diorite and metasediments, which have a dominant orientation of east to west trending with a shallow north dip. Nova has so far drilled six holes on the Zone 1 showing. Only a small area of about 65 by 60 metres has been drill-tested. The most northerly holes, 75 and 76, were collared on the far north limit of the test area and were drilled at a dip of 45 degrees south. Analyses from samples collected from these holes yielded moderately anomalous uranium values over widths up to 4.68 metres. Interestingly, the vertical holes (77 to 80) drilled in the central and south portions of the test area yielded more consistent and notable uranium concentrations over significant widths. Hole 78, drilled in the centre of the test area, yielded values of 41.81 metres of 0.51 lbs/t U3O8, including intervals of 15.96 metres of 0.74 lbs/t U3O8 and 5.32 metres of 1.61 lbs/t U3O8. Additional Phase III drillholes are planned to test both the dip and strike extensions of the Zone 1 uranium mineralization identified in holes 77 to 80.

Hole 81 is about 200m east of the main surface expression of the Zone 1 anomaly and was drilled to the south at a dip of 45 degrees. The hole tested outcropping radioactive pegmatites discovered during the 2006 regional exploration.

Zone 1 Selected Results

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
(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

North Bear (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 at least 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 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. Nova has received analytical results for all North Bear drill holes. Results show that the pegmatite-hosted uranium mineralization in the North Bear Zone is locally strong but appears to be of limited extent.

North Bear Selected Results

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 (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 5 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. Nova has received all laboratory results for all of the holes, except NV07-74. 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. Holes 63 to 65 reported weak to sub-anomalous uranium values. The drill log for hole 74 indicates that it contains a single narrow interval, of less then one metre, of moderately radioactive mineralization.

Anomaly 12 (Phase II: NV06-60 to 62)

In December 2006 a total of three holes were drilled on Anomaly 12 (NV06-60 to 62). All holes were drilled at a dip of -45 degrees, with depths ranging from 61 to 83 metres. No significant Uranium values were encountered.

Tom Dick Zones (TD07-01 to 13)

The Tom Dick 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 in the 1970's and more recently by Nova. The Tom Dick North anomaly is located about 1.0 kilometres north of the South Zone and includes a number of historically significant drill holes. Nova has drilled four holes in this area, TD07-01 to 04. A total of nine holes have been drilled in the Tom Dick South Zone (TD07-05 to 13) testing both historical and newly defined radioactive zones. 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. Nova has not yet received any analytical data from the Tom Dick Zones drill holes.

Nova's summer plans are to continue follow-up ground exploration of priority radioactivity anomalies. Work will include geological mapping and prospecting, trenching and detailed geophysical surveys with drilling to follow as required.


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.

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