Long Harbour Drops Don Lake Option and Updates on New Uranium Acquisitions
03 Agosto 2011 - 8:00PM
Marketwired
Long Harbour Exploration Corp. (TSX VENTURE: LHC) (the "Company")
reports that it is not proceeding with an agreement, announced
March 8, 2011, with U.S. Mine Makers Inc. whereby the Company had
been granted an option to acquire a 90% interest in the Don Lake
Property located in the Athabasca Basin.
The Company will continue building a uranium property portfolio
of strong merit throughout the Athabasca, with a current focus on
the eastern and western basin areas. To this end, it has recently
announced the acquisition of a 100% interest in the 2Z Lake ("2Z")
and the Madison ("Madison") properties located at the northeastern
edge of the basin. An EM conductor and alteration was identified on
2Z during an exploration program when operated by Noranda
Exploration in 1979. The work program included geophysical studies
and a diamond drill program, which confirmed the presence of a
conductor, alteration, and mineralization that is unconformity
related. The twenty hole 2,000 meter drill program sights several
drill holes encountering values of over 500 ppm, with one of the
drill holes encountering a maximum value of 800 ppm over a 30 cm
interval. Basement-hosted uranium has yet to be tested on the 2Z or
Madison properties.
Madison is between, and within approximately 10 kilometers of,
UEX's Horseshoe and Raven deposits to the northeast and their West
Bear deposit to the southwest. Hathor's Milliken Creek project is
beside 2Z on the west and is situated approximately 26 km
south-southeast from the richest uranium mine development project
in the world, the Cigar Lake ore body. The Company expects future
work programs to be modeled on recent basement hosted discoveries
such as Hathor's Roughrider deposit and Cameco's Millennium
deposit. In addition to seeking to acquire more properties in
highly prospective areas of the basin, the Company plans to
undertake a geophysics work program on the 2Z property this summer
and establish targets for a winter drill program.
The technical information in this news release has been reviewed
by Dr. Kent Ausburn, PhD, a qualified person as defined in NI
43-101 and a director of the Company.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Senergy Communications Inc. Anthony Zelen 778-331-2028
lhc@senergyir.com www.senergyir.com Long Harbour Exploration Corp.
Geoff Lee CEO 604-602-9222 604-648-2201 (FAX)
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