Artha Begins 32,000 Foot Drill Program in Wyoming
Wednesday, August 27, 2008 10:59 AM
Symbols: CCJ
(Source: Marketwire)trackingVANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2008) - Artha Resources Corporation (TSX VENTURE:AHC) is pleased to announce that drilling has commenced on the Company's advanced uranium properties in Wyoming. The principle goal of Phase One is to define in-situ recoverable resources and confirm historical resources previously outlined on the projects.

(i)WY Project - 74 Holes to Test the Wind River Formation

Located in the Shirley Basin, birth place of ISR mining, the WY project is currently Artha's key uranium target. After drilling 2,200 holes, Wold Nuclear documented in a geological report dated September 1978, uranium resources in two separate areas on the property. In the north area a resource of 877,000 lbs U3O8 contained within 528,000 tons grading 0.083% U3O8 at a cutoff of 0.04% was estimated. In the south area, Wold estimated a resource of 493,000 lbs U3O8 contained within 432,000 tons grading 0.058% U3O8 using a cutoff grade of 0.03%. Wold recommended a follow up drill program of 480 holes which was suspended due to weak uranium prices at the time.

To date, Artha has identified over 6000 feet of trend that remains to be drill tested. The Phase One program includes 74 holes to an average depth of 270 feet for a total of 20,000 feet. This drilling will all be in the Wind River formation which rests on the Steele Shale or Cody and dips slightly to the north. The most promising sand zone is up to 80 feet thick with roll fronts up to 35 feet thick. Here the aquifer is contained above and below by sealing shales which bodes well for in situ recovery.

(i)DCB - 20 Holes Planned for the Wasatch and Fort Union Formations

The DCB claims are located in the Powder River Basin less than 12 miles from the Smith Ranch/Highland Mine of Cameco, the largest uranium production facility in the United States. After 493,264 feet of drilling, Nuclear Exploration Co. published a geological report identifying an uranium resource of 462,048 tons at a grade of 0.063% U3O8 containing 585,167 pounds of U3O8. The report also noted that ten different sandstones containing roll front trends had been mapped and that 40 to 60 miles of uranium bearing trend remains to be explored.

Artha will be drill testing uranium roll fronts in the Wasatch and Fort Union formations. Phase One includes 20 holes to an average depth of 400 feet for a total of 8,000 feet.

Clarkson Hill - 8 Holes to Further Define NI 43-101 Resource

Clarkson Hill is located on the southern edge of the Wind River Basin, 26 miles from Casper, Wyoming. Roll-front type uranium mineralization was first discovered here during the 1950's.


Next Page >>
More Options



Subscribe to Email Alerts rss feed or RSS feeds rss feed for articles from more than 300 contributors and press releases, SEC filings and full text news from thousands of sources.


 
Rate :  Rate this Commentary  


 Number of Comments (0) Post Comment
 
  
Good Rating(+1)    Bad Rating(-1)
No Data Found

 
Enter Symbol
Enter Search String
Bookmark This Article
Email Article

Send this article by email


Recipient's Name
Recipient's E-mail
Your Name
Your E-mail
Related Quotes

 
  Home | Login |Research | Earnings | Scans | Chat Rooms | Charts | Submit Article | Join Blog Network | Contributors | Subscribe to RSS

copryright 2008 all rights reserved