22nd Jun 2007 12:49
UMC Energy PLC22 June 2007 UMC ENERGY PLC ("UMC Energy" or "the Company") OPERATIONS UPDATE London 22 June 2007. The directors of UMC Energy (AIM : UEP) are pleased toadvise the receipt of the first assay results from its Folokara Districtexploration leases in the Morondava basin in Madagascar. These are preliminary values from the initial batch of 36 samples which weresubmitted, in mid-May 2007, to Activation Laboratories in Canada for analysis.Final values are awaited. The samples were prepared from the diamond drill cores obtained from two, of atotal of six, initial vertical scout holes drilled just before the onset of theMadagascan rainy season, during which these leases are inaccessible. Sampleswere selected using radiometric scanning of core material. The holes were drilled as an exploratory measure to verify the presence ofuranium mineralisation indicated in the historical exploration database whichwas acquired by the Company in late 2006 and as an indication of the type ofground conditions that could be expected for the 2007 drilling programme. Hole FOL06-1 intersected 4.26m @ 0.019%U3O8 below 13.70m, and 3.42m @ 0.036%U3O8below 17.43m. Core recovery was over 88%. Hole FOL06-2, located 100m north of FOL06-1, intersected 7.60m @ 0.039%U3O8below 23.70m, including 1.10m @ 0.251%U3O8 below 27.70m. The latter zone contained visible secondary uranium minerals in an oxidisedsandstone, and core recovery was over 99%. The Company is encouraged by this preliminary result and will make furtherannouncements when results from the 2007 exploration drilling programme, whichbegan in mid-June, are received. Mr Michael Smith, CEO of the Company, is a member of The Association of MineManagers of South Africa and is the qualified person who has reviewed andapproved the technical information contained in this announcement. For further information: Hugh Oram Nabarro Wells & Co Ltd Tel: 020 7710 7400 Annie Richards UMC Energy plc Tel: 020 7514 1480 Charles Vivian Pelham Public Relations Tel: 020 7743 6670 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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