Crosshair Energy has discovered further mineralization of uranium at the Central Mineral Belt Joint Venture Project (CMB JV) in Canada. The Two Time property is one of the high priority targets of the CMB JV campaign of 2011.
The company drilled 2,961 m, totaling seven holes, at this property having an objective of examining the down dip expansion of the NI 43-101 compliant resource. Earlier drill results validated the uranium mineralization to more than 500 m of depth.
During 2009 June, a preliminary NI 43-101 compliant report defined 2.33 M lbs as an indicated uranium resource and 3.73 M lbs as a further inferred uranium resource on the Two Time property. This primary resource was dependent on the information obtained above a depth of 300 m.
The 2011 drill campaign’s second portion was to test several coincident aerial rock geochemical and radiometric geophysical anomalies external to the Two Time property. The company drilled 1,245 m, totaling 14 holes, on four individual prospects in the CMB-JV project region. Three drill holes out of 14 cut thin mineralized zones of uranium. Crosshair intercepted 0.084% U3O8 over 3.5 m and 0.519% U3O8 over 0.5 m in the hole FS-11-007, which is prominently obtained from the Firestone prospect. It initially drilled at the Firestone prospect and the three eastern prospects of Big Bear, Running Man and South Brook.
Activation Labs of Ontario conducted uranium analysis, by means of the delayed neutron counting (DNC) process. Multi-element analysis was conducted with inductively coupled plasma mass spectrometry (ICP-MS). X-ray fluorescence (XRF) was used to re-assay the samples, which surpassed the upper limit for uranium.