Crosshair Exploration & Mining has announced facts of the 2011 exploration program at Juniper Ridge Property in southwest Wyoming.
The program will include drilling upto 80,000 feet and metallurgical test work aiming to bring the past uranium resource into a NI 43-101 compliant resource.
Crosshair anticipates beginning of a $1.9 million program in May and requires four months to finish. Two drills will be used in this drilling to verify historical results by drilling around 400 holes to 200 feet depth on average. The first NI 43-101 resource estimate will help to pursue the program, which is expected in the fourth quarter of 2011.
The company begins drilling in Wyoming and verifies the occurrence of historical resources at Juniper Ridge. A summer drill program will probably allow them to commence the permitting process and persist with the progress of the property to the pre-feasibility phase.
The size of Juniper Ridge property encompasses 197 claims and one state mineral lease, 4,710 acres in total. The property has past geological reserves of 5.2 million tons having 0.067% U3O8 for 6.97 million pounds of uranium. In 1968, AGIP Mining had completed the historical resource estimate, before the accomplishment of the NI 43-101. Crosshair has considered the resource estimate to be pertinent and consistent through the quality of significant work completed on the Property. The historic resources are not considered as current resources.