SASKATOON, April 30, 2012 /CNW/ - Star Uranium Corp. (TSX-V: SUV) ("Star Uranium" or the "Company") is pleased to provide an update and summary of its Fort à la Corne property (the "FalC Property") in Central Saskatchewan. The FalC Property, is a 50/50 joint venture between Star Uranium and United Uranium Corp. (TSX-V: UUC) ("United").
During 2011, APEX Geoscience Ltd. (APEX) was retained by Star Uranium to complete an initial review of existing aeromagnetic geophysical data for the FalC Property in Central Saskatchewan. The FalC Property, which is a 50/50 joint venture between Star Uranium and United, is approximately 65 kilometers north-east of Prince Albert, Saskatchewan. The FalC Property lies over both provincial and privately owned properties totaling approximately 42,874.02 hectares (105,944.01 acres).
As part of the data review, the existing airborne survey data was reprocessed and interpreted by APEX. Specifically, the airborne geophysical data was evaluated for geophysical targets that could be related to potential kimberlites or related intrusions with a particular emphasis on targets that do not fit the typical Fort à la Corne model for magnetic kimberlites. A total of 23 geophysical anomalies on the FalC Property were selected as being of potential interest for future kimberlite exploration. After ground truthing of the targets was performed early in 2011, a total of 13 targets on the FalC Property and 4 targets on 100% owned Star lands were deemed of sufficient interest for follow-up ground geophysical surveys. Based upon the 17 ground geophysical surveys that were completed during 2011, a total of two moderate to high priority kimberlite targets, along with a couple of lower priority targets, were identified that warrant drill testing during 2012. The required land use permits and water licences for drill testing of all of the priority targets have been applied for. Once received, Star will commission a drilling program to test a minimum of two priority kimberlite targets on the FalC Property and/or the 100% owned Star lands. It is anticipated that drilling will be completed during the 2nd quarter of 2012.
In addition to the kimberlite targets, a strong linear magnetic target was identified during the 2011 ground geophysical exploration program. This target, which may be prospective for gold and/or iron ore, is also in application for drill testing and may be tested during the upcoming kimberlite drill program.
The technical information in this press release has been reviewed and approved by Michael Dufresne, who is a Qualified Person as defined by National Instrument 43-101.
Neither 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 release.
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to, the results of the exploration program and risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve or resource estimates, health and safety risks and the uncertainty of estimates and projections of costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company does not undertake to update any forward-looking statements except as required by law.
For further information:
Kyle Kozuska, President at (306) 664-3828. Email inquiries should be made to [email protected] and the Company's website is located at www.staruranium.com. Inquiries by direct mail should be addressed to Star Uranium Corp., 212 - 116 Research Drive, Saskatoon, SK S7N 3R3.