European uranium completes metallurgical drilling program at Kuriskova deposit (Slovakia)
Vancouver, 24. July 2012. European Uranium Resources Ltd. (TSX-V: EUU, Frankfurt: TGPN) has completed its planned three-well drilling program to collect samples for further metallurgical testing at the Kuriskova uranium deposit. Preliminary evaluations indicate that the program provided sufficient sample weight and appropriate content to integrate the tests into the ongoing feasibility study.
The results of the first hole deep hole gamma recordings (LE-K-73) have already been published in a press release from the 26. June 2012 reported. The significant results of the Gamma recordings in the depths of the last two holes (LE-K-74 and LE-K-75) and the summary of the results of the nearest previous drill holes are given below:
LE-K-74: 2,9 meters containing 0,478% eU3O8, including 0,5 meters containing 1,847% eU3O8
The next two historic holes are:
1181 hole with 3,6 meters containing 0,143% eU3O8 located 22 meters west of LE-K-74, and
LH-K-13A with 1,2 meters containing 0,519% U3O8 located 30 meters northeast of LE-K-74
LE-K-75: 2,6 meters containing 0,468% eU3O8, including 0,8 meters containing 1,212% eU3O8
The next two historic holes are:
Hole LH-K-14A with 3,0 meters containing 1,454% U3O8 located 18 meters north of borehole LE-K-75, and
Drill hole 1182 with 4,8 meters containing 1,453% U3O8 located 20 meters northwest of borehole LE-K-75
The April 43 NI 101-2011 resource estimate, which has been reviewed and approved by Tetra Tech Inc., includes 0,05 million U3O8 28,5 million U3O8 0,555 content displayed using a 3% U8O2,3 cut-off resource Million tons and an additional derived resource of 12,7 million pounds of U3O8 containing 0,185% U3O8 in 3,1 million tons (see 26 April 2011 News Release).
The company will further develop aspects of the critical path of a feasibility study and environmental impact study for the Kuriskova deposit. The metallurgical samples taken as part of the ongoing drilling program will be tested by AREVA, an important shareholder of European Uranium, during the summer and fall of 2012 as part of the technical service agreement that the company signed with AREVA. The goal is to optimize the process flow sheet as described in the preliminary feasibility study.
The Company continues to perform surface exploration work on targets within the Kuriskova Property to define drill targets that could lead to the expansion of the current resource.
Slovak Prime Minister Robert Rico, elected in March 2012, affirmed that nuclear power will continue to be Slovakia's most important source of energy in the future. The fifth nuclear power plant in Slovakia is to be built by 2020 and connected to the grid.
The company will continue to define the structure that will enable uranium production at Kuriskova to benefit the Slovak energy future. This could be a production agreement with Slovakia or a partnership with a Slovak organization. Since April talks have been held on several levels.
Work programs on the recently acquired uranium sub-areas in Sweden and Finland have been planned and will be carried out in the summer and fall of 2012.
The following table fully lists the significant sections of these two holes:
Notes on the table: Contents of over 0,4% eU3O8 are displayed in bold. The conversion factor from eU% to eU3O8 is 1,17924, and a significant section is considered at a cut-off grade of 0,03% eU.
The uranium grades reported in this news release are reported as equivalent uranium oxides (eU3O8%) based on downhole radiometric logging. The records were made by the Slovak company Koral sro The drill sections are specified according to the drill holes; the actual widths have not yet been calculated. Quality Control and Quality Assurance are performed by Ravi Sharma (Chartered Professional Member, AusIMM and Registered Professional, SME), Manager, Resources and Reserves of European Uranium, a "Qualified Person" under NI 43-101, who provides the technical content of this news release tested and approved.
EUROPEAN URANIUM RESOURCES LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
For more information, please contact Doris Meyer at + 1-604-536-2711 or visit our website at www.euresources.com
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
Precautionary note:
This press release contains forward-looking statements based on current expectations and estimates of the company. Forward-looking statements often include words such as "plan," "expect," "forecast," "intend," "believe," "anticipate," "estimate," "accept," "suggest," and similar expressions or statements. according to which certain events or conditions "can" or "become". These forward-looking statements are subject to risks and uncertainties and other factors that could cause actual events or results to differ materially from the anticipated events or results expressed or implied by such forward-looking statements. These factors include actual results of current exploration activities; Conclusions on economic valuations; Changes in the framework conditions of projects in the course of further planning; possible deviations in ore content and yield; accidents; labor disputes and other risks arising in the mining industry; Delays in regulatory approval or financing transactions; and fluctuations in metal prices. Other factors may cause actions, events or results to be different than expected, estimated or intended. Forward-looking statements relate solely to the time at which they are prepared. The Company therefore has no intention or obligation to update these forward-looking statements, whether as a result of new information or future events or results or otherwise, except as required by applicable securities laws. Forward-looking statements are not guarantees of future performance and it is therefore advisable not to overstate such statements due to uncertainties therein.
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