Universal Approved to Commence Drilling Nevada Gold Propertyadmin
Tuesday, August 18th 2009
Universal Uranium Ltd. report that its Notice of Operation for proposed drilling on its newly acquired Tact Project in Humboldt County, Nevada has been accepted by the Bureau of Land Management office in Winnemucca. Universal is currently bonding the proposed activities with the State Bureau Land Management office which includes 15 to 20 reverse circulation drill holes from 15 permitted sites within the project boundary. The total program is estimated at 7,000 to 8,000 feet (2135 to 2439 meters). This program will test four separate targets previously defined by historical work. Three of the targets are surface gold anomalies with grades up to 4.5 g/t gold. The fourth target will test a pediment structure defined by geophysical surveys. Construction of access roads and drill sites will start by August 20th and the drill program is estimated to begin in early September.
The Property is located in Buffalo Valley approximately 5 miles southwest of Newmont Mining’s Lone Tree gold mine Complex (2 million ounces mined) and 3 miles northwest of Newmont’s Converse deposit (4.5 million ounce resource). Other nearby gold mines in operation include the Marigold Complex (over 4.25 million ounces) operated as a joint venture between Barrick Gold Corp. and Goldcorp Inc. (See map at www.universaluranium.com). The project area contains host rocks identical to the above mentioned mines and previous work has outlined gold in outcrop, within soil grids and limited drilling programs.
The Company’s board of directors has decided that the Company will focus on gold exploration in Nevada. With that focus in mind, they have decided not to renew the Utah uranium claims or the Potash claims in Western Newfoundland.