Landmark and Ucore Double Their Landholdings at Carrols Hat Uranium Property, Newfoundlandadmin
Landmark Minerals Inc. and its joint venture partner Ucore Uranium Inc. are pleased to announce that their land position at the Carrol’s Hat property has been doubled through the staking of 65 additional claims covering ground considered prospective for the discovery of new uranium, copper, and gold mineralization. The Carrol’s Hat property now consists of 111 claims covering 2,775 hectares in south-central Newfoundland.
The exploration target at Carrol’s Hat is an intrusive-hosted, iron-bearing, breccia pipe enriched in copper, gold, and uranium. The geological, geochemical, and geophysical setting is consistent with an Iron Oxide-Copper-Gold (IOCG) deposit model.
Work to date has identified metal values ranging from trace up to 0.23% U3O8, 2 g/t Au, and 5% Cu in selected samples of bedrock. Immediately to the west of the mineralized bedrock, a distinctive gravity high is covered by hematite-stained granite boulders. The gravity anomaly closely coincides with radiometric and magnetic highs as well as lake sediments carrying anomalous concentrations of copper, uranium, zinc, and several rare earth elements in an area of no outcrop.
As announced on November 21, 2006, Ucore is earning an initial 60% interest in the property by paying $35,000 and issuing 38,235 Ucore shares over three years to an underlying vendor, and spending $500,000 in exploration costs within three years. The property is subject to a 2.5% NSR in favor of the underlying vendor. Ucore is initiating a combined magnetic and induced polarization survey to provide additional data in the area of the coincident gravity-radiometric-magnetic-geochemical anomaly prior to drilling.
Landmark Minerals is a junior uranium exploration company based in Vancouver, Canada with mineral interests in Quebec, Newfoundland, Northwest Territories, and Yukon, Canada. Landmark is continuing to seek new uranium exploration opportunities in jurisdictions offering secure mineral title.
ON BEHALF OF THE BOARD OF LANDMARK MINERALS INC.
Harmen J. Keyser, P.Geol., President
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.
Contacts: Landmark Minerals Inc. Harmen J. Keyser, P.Geol. President (604) 801-5432 (604) 662-8829 (FAX)
Source: Landmark Minerals Inc.