Geophysics Completed on Sheffield-Sops Arm Joint Ventureadmin
Uranium City Resources Inc., is pleased to provide the following update on its Sheffield-Sops Arm joint venture project with Metals Creek Resources.
An airborne radiometric and magnetic survey has now been completed over the Sheffield Lake/Sops Arm area, located in north-central Newfoundland. This project consists of 1586 claim units in two packages and is a joint venture with Metals Creek Resources (TSX.V:MEK), under which Uranium City Resources can earn a 50% interest in the property for expenditures of $1.4 million over 3 years. The claims cover a portion of an extensive felsic volcanic unit interpreted as a collapsed caldera complex. This area has seen a high level of exploration over the past two years driven by the discovery of new uranium showings and extensive land acquisition by a number of exploration companies including Bayswater Uranium, Altius Resources and Spruce Ridge Resources. Preliminary results from the Sops Arm portion of the airborne survey have been received and over 50 priority Uranium targets have been identified. Ground follow-up prospecting and sampling has commenced on these targets.
Wayne Reid, PGeo, Vice President of Corporate Development for the Metals Creek Resources and a qualified person as defined in National Instrument 43-101, “Standards of Disclosure for Minerals Projects”, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
For further information
Malcolm Bucholtz, President & CEO, T: (306) 525-0852, E: firstname.lastname@example.org