Uranium Star Identifies Second Source of Potentially Economic Vanadium on Three Horses Property in Madagascar; Expands Strike Length of Previous Vanadium Discovery
Uranium Star Corp. (OTCBB:URST) (FRANKFURT:YE5) is pleased to announce it has identified a second source of potentially economic vanadium mineralization, this one located on the southern part of its Three Horses Property in Madagascar. The Company’s previous press release dated November 18th, 2008 identified potentially economic vanadium on the northern section of its Three Horses Property which is on strike, and separated by 18 kilometres from the newly identified vanadium mineralization. The Initial grab sample results from both areas, confirmed by ALS Chemex, have identified vanadium values over the detection limit of 10000 ppm, or 1.628% V2O5equivalent.
The Southern Area of Three Horses
As with the northern area, field analysis utilizing the Innov-X Systems X-50 mobile XRF unit is currently being conducted on the core samples carried out over this target area, and has indicated the presence of significant values of vanadium.
Based on the vanadium mineralization identified on the southern area through XRF analysis, there appears to be a vanadium-rich trend with a strike length greater than1900 meters.
Second Vanadium-Rich Trend Identified on the Northern Area of Three Horses
Further field analysis on the northern area of the Three Horses Property has now identified an additional vanadium-rich trend which has been subsequently drill tested.. This is in addition to the initial vanadium-rich trend with an 800 meter strike length already identified.
The field results from the southern area target have also yet to be verified with assay results, and samples are being sent for analysis to ALS Chemex’s ISO 9001:2000 and ISO 17025:2005 accredited laboratory in Vancouver.
Vanadium is currently worth between $10.00-$11.00 per pound (where 1% of vanadium oxide (V2O5) equals 22 pounds). It is a rare, strategic metal used for production of high strength low alloy (HSLA) steels and titanium alloys.
China and the USA are the largest individual consumers of vanadium, each accounting for close to 20% of the world market. World production only totals about 100,000 tons a year. Current primary producers in South Africa are all operating at full capacity.
Commercial use stems from HSLA steels offering the ability to reduce the weight and tonnage of steel required compared to ordinary low-carbon steels because of higher yield and tensile strengths.
Close to 90% of ferro vanadium (FeV) end-use is in high performance steels for:
- Construction (building frames, bridges, etc.)
- Automobiles and parts
- Railway tools
The Company is currently focused on gold and VMS targets identified on the Property. Drill targets have been prioritized through the analysis of compiled geological, geochemical, and geophysical data sets collected to date.
About the Property
Uranium Star’s Three Horses Property, located in south-western Madagascar, displays mineralization and alteration styles often associated with volcanogenic massive sulphide (VMS) deposits. These deposits can host significant quantities of copper, zinc, lead and precious metals.
In the latter part of 2007, Uranium Star conducted a combination DIGHEM V multi-frequency electromagnetic and high sensitivity cesium magnetometer airborne survey on its Three Horses Property, and dozens of priority exploration targets were identified.
Craig Scherba, P.Geol., of Taiga Consultants Ltd. is the Exploration Manager and is supervising Uranium Star’s exploration activities on the Three Horses, Madagascar Property
For more information, please visit our website at www.uraniumstar.com
Vice President of Business Development
Uranium Star Corp.
Toll Free: 800.818.5442 or 416.364.4911
J. A. Kirk McKinnon, President and Chief Executive Officer
Richard Schler, Chief Operating Officer & CFO
WARNING: The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.