Uranium Star Corp. (OTCBB:URST) (FRANKFURT:YE5) (“Uranium Star” or “the Company”) announces that the recent significant advances to the Green Giant Vanadium Project in Madagascar have dictated that the Company retain a consulting mining engineering company in order that additional metallurgical work and an order of magnitude study can be completed. This work would provide guidance for the existing field work program and a future Preliminary Economic Assessment (PEA).
Uranium Star is very pleased to announce that PEG Mining Consultants Inc. will be carrying out the study and assisting the Company in completing the additional metallurgical work. The order of magnitude study will provide an initial examination of all parameters dealing with the deposit including mining, processing, infrastructure, capital costs and operating costs. They will also provide initial assistance to Uranium Star in the socioeconomic, environmental and marketing aspects of the project.
The Company has an extensive field crew working on the project at this time. The current program is establishing a series of trenches over the entire 22-kilometre length of the Property, spaced 100 to 200 metres apart. The resulting number of trenches will give the Company significant insight into the mineralization along the vanadium trends and will also provide information relating to near-surface grades. Using a large mechanical excavator, the digging of 1.4 meter wide trenches to bedrock is underway and nicely ahead of schedule.
Vanadium Values Well Above Expectations
Hand-held XRF analysis of the trench sample material is yielding vanadium values well above expectations, both in grade and width. The XRF units being deployed in the field are state-of-the-art exploration tools that are currently used for accurate, in-the-field analysis of rocks and soils thus allowing the Company to more readily focus its attention on anomalous trends without having to wait for assay/analytical results from commercial laboratories. All anomalous samples are being sent to a commercial laboratory for subsequent verification of vanadium values.
Uranium Star intends to carry out an extensive drill program later this year, which will be greatly facilitated by the current trenching program. The resulting drill program will provide compliant resource statements which will ultimately be incorporated into a 43-101 feasibility level study.
The Company also wishes to announce that F. William Nielsen P.Geo, a Director of the Company has been appointed Project Manager. He will guide the Company through the various aspects of work required to carry the project forward to the feasibility level. Mr. Nielsen has recent experience in this regard as he carried out a similar task for Nevsun Resources in bringing their Bisha deposit in Eritrea to the feasibility stage.
Bill Nielsen, P.Geo., Director is the qualified person for this report.
Claude Aussant, P.Geol, of Taiga Consultants Ltd. is supervising Uranium Star’s exploration activities on the Green Giant Vanadium Project in Madagascar.
For more information, please visit our website at www.uraniumstar.com
Vice President of Business Development
Uranium Star Corp.
Toll Free: 800.818.5442 or 416.364.4911
WARNING: The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.