U308 Corp. (UWE) reports significant intercepts

In resources news Thursday, U3O8 Corp. (TSX: V.UWE, Stock Forum) reported significant intercepts of uranium mineralization from the Accori South area in the Kurupung Batholith, Guyana.

The results confirm uranium mineralization in a second structure located approximately four kilometers southeast of the Accori North C target, says the company.

"Today's results demonstrate that we continue to consistently find significant basement-hosted uranium mineralization along extensive, related structures that may collectively host a total resource of meaningful size," says Dr. Richard Spencer, president and CEO of U3O8 Corp.

U308 says the initial four holes drilled in the Accori South target “intersected uranium mineralization in two breccia zones that contain an alteration assemblage of albite, chlorite and haematite.” Two of the bore holes intersected a secondary structure that has an east-northeast orientation and is projected to intersect the principal structure approximately 25 meters east of the easternmost bore hole. “The intersection of the two structures at Accori South constitutes a priority exploration target since a similar structural intersection in the Aricheng South area hosts a mineralized shoot of elevated grade,” says the company.

Initial drilling intersected uranium mineralization over a strike distance of 130 meters and to a depth of approximately 80 meters below surface.

The company says the assay results from Accori South continue to underscore its exploration model “that the area is geologically similar to the Athabasca Basin in Saskatchewan with its structurally controlled uranium mineralization in the adjacent basement.”

http://www.stockhouse.com/Breaking-Financial-News/2008/...-Guyana-uranium-site