Crosshair Drills 0.16% EU3O8 Over 15.5 Feet At Juniper Ridge
These results are from the western portion of the project and fall within the area of the historical uranium resource. All holes are vertical and the thicknesses above are approximately true width. The goal of the current drill program is to confirm and expand the historical uranium resource into a National Instrument (NI) 43-101 compliant resource.
Complete geophysical probe highlights and a drill plan map can be found on the Crosshair website at: http://www.crosshairexploration.com/s/JuniperRidge.asp. Composite results are based on a minimum 0.02% eU 3O 8 and a grade x thickness (GT) of 0.1.
Juniper Ridge contains a historical geological resource of 5.2 million tons grading 0.067% U 3O 8 for a total 6.97 million pounds of uranium. The historical resource estimate for the Juniper Ridge Uranium Project was completed by AGIP Mining Company in 1986, prior to the implementation of NI 43-101 and is not compliant with current accepted reserve and resource classifications as set forth by the Canadian Institute of Mining and Metallurgy. The resource was based on half-foot interval gamma logs using a tonnage factor of 17.0 cubic feet per short ton, and cut-offs of 0.03% eU 3O 8 over a minimum 2.0 foot interval (0.06 GT). The resource was estimated using the polygonal method with a maximum 50 foot radius. Given the quality of the historic work completed on the Property, Crosshair believes the resource estimate to be both relevant and reliable. However, a qualified person has not completed sufficient work to classify the historic mineral resources as current mineral resources or mineral reserves as defined in NI 43-101, and Crosshair is not treating the historic resources as current. Therefore, the historical resource estimate should not be relied upon
* These grades are reported as equivalent uranium (eU 3O 8) as determined by downhole radiometric logging equipment. The logging was carried out by independent contractor, Century Wireline Services of Tulsa, Oklahoma. Results of the eU 3O 8 reported in this release have been determined using a USAT tool which is a more accurate tool for determining the uranium content than the conventional gross gamma tools in situations where the uranium may be in disequilibrium. Gross gamma tools measure total gamma radiation and may measure daughter products that are not directly related to the in-situ uranium content. The use of the USAT tool eliminates the need for chemical assays to determine that the uranium is in equilibrium and that total gamma readings represent uranium content.The Juniper Ridge drilling program is carried out under the direction of Dr. Tom Bell CPG, a Qualified Person as defined by NI 43-101. Stewart Wallis, P.Geo. President and CEO of Crosshair and a Qualified Person as defined by NI 43-101, has reviewed and is responsible for the technical information contained in this news release.
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