Uranium Star AOLHA2
Monday, February 26, 2007
Uranium junior with promising Quebec exploration property set to launch test program
Most junior resource investors are aware that uranium spot prices last week climbed another US $10 to $85 per pound. Although this sets a new historical high for yellowcake (U308), many analysts nevertheless predict that this price will continue trending up toward $100/lb in 2007.
The justification is simple and sensible: Worldwide there are 435 reactors in operation, which generate close to 400,000 Megawatts of power. There are 28 reactors under construction, 64 at the planning stage and more than 158 proposed. Nuclear energy presently provides 16% of the world's electricity - a number expected to grow in marked leaps as oil stocks peak and begin to dwindle, global warming runs amok and coal burning power plants add insult to the injury. Ergo, demand is growing, supply is lagging.
A pundit recently noted, "With this kind of market, you could paint 'URANIUM' on the behind of a pig and people would still chase it." With that in mind, the question is: With some four hundred junior uranium exploration companies out there, which ones are the wiry boars and which are the lean hogs?
It's a tough question. You might think that all this investment activity would eventually separate the two more clearly, but the opposite is happening. As the price of uranium goes up, more and more pretenders are painting their backsides with the word "Uranium" in bright yellow.
Uranium Star Corporation (OTC: BB: URST), BullBoards) boasts some impressive initial data on their premier landholding, a uranium and gold play in the mineral-rich Labrador trough of exploration friendly Quebec. Uranium Star has a 75% interest in the property; the company's partner, Virginia Mines (TSX: T.VGQ), BullBoards), owns the remainder. And it's partly the cache of this JV that lends credibility to this project.
This joint venture brings some notable expertise to the table. Virginia is one of the most successful exploration companies in Quebec - they have discovered several significant deposits in the last decade, won "Best Prospector" awards in 2004 and 2006, and recently sold their Eleonore asset to Goldcorp for $800 million.
Uranium Star and Virginia hold a 50 square kilometer Quebec property, dubbed "Sagar," which has been the subject of some notable exploration efforts in the past. A field of radioactive boulders was discovered in 1983 by a Saargberg Interplan airborne spectrometer survey. Since then, $15 million has been spent on the property.
This radioactive field, occupying a 500 by 250 meter area, is now known as the Mistamisk Boulder Field. 1992 sample work recovered over 70 boulders with assays averaging 64.9 g/t Au and 1.3% U, with highs of 640 g/t Au and 4.11% U.
What makes this project so tantalizing, and yet so highly speculative, is that between 1983 and today - apart from those excellent boulder results in both 1983 and 1992 - no primary source for the high Geiger readings (900 counts per second) has been found. Drill holes have been relatively uninspiring, turning up decent copper, gold and uranium assays, though only over short distances. There remains, somewhere in the vicinity, a significant mother lode.
In an attempt to unlock the mystery, Uranium Star collected a series of over 600 water samples from the property in the summer of 2006. This led the team to develop a new model to explain the origins of the mineralized boulders.
President Kirk McKinnon and William Nielsen, a geologist with over 33 years of experience that includes mineral discoveries with Nevsun Resources (TSX: V.NSU), BullBoards) (AMEX: NSU), BullBoards), now posit that these luminescent boulders were swept up from a potentially massive uranium deposit and carried to their present location by glacial movement.
Most glaciers in Canada are thought to have moved from north to south. However, recent quaternary surveys taken on the Sagar property suggest that in this particular area the reverse holds true. Uranium Star's geologist, William Nielsen, stated that past operators believed the source area to be mere hundreds of meters from Mistamisk, while new theories suggest that distances of 2.5 - 3 kilometers may be more accurate. According to company documents, mapping results from radiometric, geochemical, water sample, and quaternary surveys support this thinking.
This line of reasoning has convinced several major financiers, including Sprott Asset Management and Dundee Securities Corporation, to commit over $17 million to Uranium Star's efforts to pinpoint the source, as was announced on January 19th. The company plans to begin a 13,000 meter, $16 million dollar drill program at Sagar at the end of March 2007.
To facilitate this program, the Sagar camp is being refurbished to accommodate 25 staff, and two portable reverse circulation drills have already been brought in by helicopter. The first phase of the program is scheduled to be completed late April to early May.
Uranium Star Corporation is currently trading at $1.17. With over $17 million in the treasury, an imminent aggressive drill program commencing, and laudable uranium and gold sample grades, 2007 may be the year that URST.BB goes hog-wild.
Doug Hadfield is the Chief Editor of the Resourcex Investor, an internationally distributed newsletter specializing in identifying as-yet-undiscovered resource companies representing the best in their class. For more information, visit the website www.resourcexinvestor.com.
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Uranium Star Corp. Acquires Remaining 25% Ownership
of its Sagar Uranium/Gold Property
TORONTO, ONTARIO--(Feb. 28, 2007) - Uranium Star Corp. ("Uranium Star") (OTCBB:URST - News; FRANKFURT:YE5 - News) is pleased to announce that it has solidified its interest in the Sagar Uranium/Gold property located in the Labrador Trough, Northern Quebec by acquiring the remaining 25% interest from Virginia Mines Inc.
Pursuant to an agreement dated May 2, 2006 entered into with Virginia Mines Inc. (traded on the TSX under the symbol VGQ), Uranium Star received the option to acquire an undivided 75% participating interest in 200 claims constituting the "Sagar Property", located in the Labrador Trough in Northern Quebec. Pursuant to that agreement, Virginia exercised its right to sell an additional 25% undivided interest in the Sagar Property to Uranium Star. The consideration payable by Uranium Star is comprised of 1,000,000 shares of Uranium Star's common stock, and a warrant exercisable for 1,000,000 shares of Uranium Star's common stock at a price equal to the weighted average closing price for Uranium Star's common stock for the 20 trading days preceding the date of grant. The warrant has a term of 2 years.
Uranium Star has acquired a 100% interest in the Sagar Property, subject to a 1% NSR on certain claims and a 0.5% NSR on other claims owned by Jones & Poisson. Uranium Star has the right to buy back half of the 1% NSR (0.5%) for $200,000 and half of the 0.5% NSR (0.25%) for $100,000.
Under the agreement with Virginia, Uranium Star must incur aggregate exploration expenditures of at least $2,000,000 on the Sagar Property on or before August 31, 2008.
SAGAR PROPERTY
The Sagar Property is the Company's primary exploration focus as it possesses exceptional grades for both uranium and gold. The Mistamisk Boulder Field is approximately 500 X 250 meters in size and contains many radioactive boulders. In a Virginia Mines report, 70 boulders assayed an average of 64.9 g/t Au and 1.3% U (with values up to 640 g/t Au and 16.5% U). Uranium Star is the direct beneficiary of the extensive exploration efforts incurred by previous operators including Virginia. These programs have shown that the Sagar Property is characterized by an impressive amount of uranium, gold, copper and lead/zinc mineralization of different styles and potential deposit models.
ABOUT THE COMPANY
Uranium Star Corp. is a rapidly emerging uranium exploration company with assets in Northern Quebec, Arizona and Finland. Its shares are traded on the OTCBB under the symbol URST, as well as the Frankfurt Exchange under the symbol YE5. The Company continues to focus on high priority uranium property acquisition and exploration in order to participate in meeting the significant and increasing demand for uranium as an alternative energy source.
Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.
FOR FURTHER INFORMATION PLEASE CONTACT:
Uranium Star Corp.
Kirk McKinnon, President and CEO
1-416-364-7024
Uranium Star Corp.
Investor Services
Toll Free: 1-866-985-6696
or
Uranium Star Corp.
Investor Services
Toll Free: 1-866-985-6696
Will keiner ein paar Shares?? Da warten wohl wieder einige auf die Eröffnung in USA:-)
Uranium Star Corp. erwirbt die restlichen 25 % seiner Uran-Gold-Konzession Sagar
TORONTO, ONTARIO--(CCNMatthews - 28. Feb. 2007) - Uranium Star Corp. ("Uranium Star") (OTCBB:URST; FRANKFURT:YE5) kann zufrieden mitteilen, dass es seine Beteiligung an der Uran-Gold-Konzession Sagar im Labrador Trough im nördlichen Quebec durch Erwerb der restlichen Beteiligung von 25 % von Virginia Mines Inc. gesichert hat.
Mit einer Vereinbarung vom 2. Mai 2006 mit Virginia Mines Inc. (an der TSX unter dem Börsenkürzel VGQ gehandelt) sicherte sich Uranium Star die Option, eine nicht vergebene 75%ige Beteiligung an 200 Claims zu erwerben, die die sogenannte "Sagar-Konzession" im Labrador Trough im nördlichen Quebec bilden. Gemäß dieser Vereinbarung übte Virginia Mines Inc. sein Recht zum Verkauf weiterer 25 % der nicht aufgeteilten Sagar-Konzession an Uranium Star aus. Als Gegenleistung erhält Virginia Mines Inc. 1.000.000 Million Stammaktien von Uranium Star sowie eine Option auf 1.000.000 Stammaktien von Uranium Star zu einem Preis, der dem gewichteten mittleren Abschlusskurs für die Stammaktie von Uranium Star an den 20 Handelstagen vor dem Datum der Ausübung entspricht. Die Option hat eine Laufzeit von zwei Jahren.
Uranium Star erwarb einen 100%igen Anteil an der Sagar-Konzession und muss dafür bei bestimmten Claims eine 1%ige Förderabgabe und bei anderen Claims im Besitz von Jones & Poisson eine 0,5%ige Förderabgabe zahlen. Uranium Star hat das Recht, die Hälfte der 1%igen Förderabgabe (0,5 %) für $200.000 und die Hälfte der 0,5%igen Förderabgabe (0,25 %) für $100.000,00 zurückzukaufen.
Gemäß der Vereinbarung mit Virginia Mines Inc. muss Uranium Star die auflaufenden Explorationskosten in Höhe von insgesamt mindestens $2.000.000 für die Sagar-Konzession bis spätestens 31. August 2008 aufbringen.
Die Sagar-Konzession
Die Sagar-Konzession ist das Gebiet, das für das Unternehmen vorrangig von Interesse ist, da es hohe Uran- und Goldkonzentrationen aufweist. Das Feld Mistamisk Boulder hat eine Ausdehnung von etwa 500 x 250 Meter und enthält zahlreiche radioaktive Brocken. Nach dem Analysebericht von Virginia Mines ergaben sich bei 70 Brocken ein mittlerer Goldgehalt von 64,9 Gramm pro Tonne und ein Urangehalt von 1,3 % (mit Spitzenwerten von 640 Gramm Gold pro Tonne und 16,5 % Uran). Uranium Star profitiert unmittelbar von den umfangreichen Explorationsbemühungen früherer Betreiber, unter anderem der Gesellschaft Virginia Mines Inc.. Diese Programme zeigten, dass die Sagar-Konzession hohe Anteile an Gold und Uran sowie Kupfer- und Blei-Zink-Mineralisierungen verschiedener Art mit verschiedenen potenziellen Lagerstättenmodellen enthält.
INFORMATIONEN ÜBER DAS UNTERNEHMEN Uranium Star Corp. ist eine sich schnell entwickelnde Uran -Explorationsgesellschaft mit Besitzen im nördlichen Quebec, in Arizona und Finnland. Die Aktien werden an der OTCBB unter dem Börsenkürzel URST sowie an der Frankfurter Börse unter dem Kürzel YE5 gehandelt. Das Unternehmen konzentriert sich weiterhin vorrangig auf den Erwerb von Uran-Konzessionen und deren Exploration, um von der signifikanten starken Nachfrage nach Uran als alternative Energiequelle zu profitieren.
Mit Ausnahme der hier enthaltenen Informationen, die sich auf die Vergangenheit beziehen, sind die in dieser Pressemitteilung enthaltenen Informationen Prognosen für die Zukunft mit Risiken und Unsicherheiten, unter anderem zu den wirtschaftlichen, Zulassungs- und technischen Faktoren sowie zur Wettbewerbssituation und anderen Faktoren, die sich auf die Geschäftstätigkeit des Unternehmens, die Märkte, Produkte und Preise auswirken können und auf die in den verschiedenen Unterlagen verwiesen wird, die das Unternehmen bei der US-Wertpapier- und Börsenaufsicht eingereicht hat.
Kontakt: Jon Ruby The Buick Group Gebührenfrei: + 1-877-748-0914 E-Mail: jruby@buickgroup.com
Kirk McKinnonUranium Star Corp.President und CEO +1 (416) 364-4986 oder +1-800-818-5442
Richard Schler Uranium Star Corp. Vice President und CFO +1 (416) 364-4986 oder 1-800-818-5442 Website: www.uraniumstar.com
Für die Richtigkeit der Übersetzung wird keine Haftung übernommen! Bitte englische Originalmeldung beachten!
-------------------------------------------------- ----------- Mitteilung übermittelt durch IRW-Press.com Für den Inhalt ist der Aussender verantwortlich. Kostenloser Abdruck mit Quellenangabe erlaubt. -------------------------------------------------- ----------- Betreffendes Unternehmen Name: URANIUM STAR ISIN: US98849X2053
Aber vielleicht kann ich nochmal bei 1 Euro nachkaufen??
Wichtig ist, dass wir mittelfristig wenn sich die Lage wieder beruhigt hat, stark nach oben laufen!!!