A Major In The Making
Leading Base Metals Mining Company - Exploration, Mining, Metal Production and Sales
Message: Identifies High Grade Niobium, Uranium & Tantalum
| December 4, 2008 |
| Hudson Identifies High Grade Niobium, Uranium & Tantalum |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2008) - HUDSON RESOURCES INC. ("Hudson") (TSX VENTURE:HUD) is pleased to announce initial results from the niobium-uranium-tantalum bearing Sarfartoq Carbonatite Complex which was sampled and drilled in 2008. The first surface rock sample result has been received from the SRC GeoAnalytical Laboratories ("SRC"), Saskatoon, Saskatchewan and confirms the presence of highly anomalous niobium (40.32% Nb2O5), uranium (1.02% U3O8) and tantalum (0.91% Ta2O5), along with elevated levels of several rare earth elements. "We are very excited about the potential of the Sarfartoq project to add significant value to our project portfolio," stated James Tuer, President of Hudson. "Previously, the presence of high-grade uranium coincident with the high-grade niobium and tantalum placed the exploitation of the deposit in question due to the moratorium on uranium mining in Greenland. However, in a referendum last month, Greenland voted overwhelmingly in favour of self-rule, paving the way for independence from Denmark and giving Greenland control of its own resources by June 21, 2009. Recently, a majority of members in the Greenland parliament agreed in principal to support the extraction of uranium as a bi-product from mines where other minerals are the primary target. Following further investigations and public consultations by government representatives, Hudson believes this could lead to formal approval being obtained in the foreseeable future. As a result, we expect to focus considerable attention on the Carbonatite Complex in 2009 while we continue to advance our diamond project at Garnet Lake. Diamond results from our 2008 bulk sample are expected before the end of the year." The results are from a 20 kg surface sample taken along an outcrop of plunging high-grade pyrochlore mineralization located on the margin of the carbonatite intrusive. The results are consistent with previous assay results from sampling programs carried out by previous owners of the license. The Sarfartoq Carbonatite Complex is unique in terms of the high uranium content and exceptional concentrations of niobium and tantalum. Additionally, the rare earth elements are atypical for carbonatite complexes in that both the light and heavy rare earths are significantly elevated. The Sarfartoq Carbonatite Complex, which includes mineralized areas of alteration, measures approximately 8 X 13km. Hudson completed a modest exploration program on the carbonatite in 2008, which included mapping, surface sampling and two diamond drill holes. Drill hole assays are expected in the first quarter of 2009. The Sarfartoq project is located on claims controlled 100% by Hudson and is approximately 24km northeast from Hudson's Garnet Lake diamond project. The Sarfartoq carbonatite has been the focus of limited exploration activity since its discovery by government geologists in 1976. Hecla Mining completed a small initial drill program in 1989 followed more recently by New Millennium Resources (NMR) exploration activities from 2000 to 2002. A 2002 radiometric survey identified 30+ anomalies, which Hudson is currently reviewing. Niobium is a rare exotic soft metal, which is corrosion resistant and highly conductive. It is widely used in the production of high-strength steel alloys, electronics and in the medical, nuclear and aerospace industries. Tantalum is an essential component in capacitors for the electronics industry. Current Nb2O5 prices are in the range of US$10-14 per pound and Ta2O5 prices are estimated in the range of US$30-45 per pound. Rare earth elements (REE) are a group of materials that have unique magnetic, fluorescent and chemical properties and are indispensable in the production of items such as laptops, hybrid vehicles, autocatalysts, LCD televisions and energy efficient lighting. The Sarfartoq sample was analyzed at the GeoAnalytical Laboratories of the Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan. The facilities used for the analysis operate in accordance with ISO/IEC 17025:2005 (CAN-P-4E). The sample was analyzed using SRC's ISO/IEC 17025:2005-accredited U3O8 method. The rare earth samples were fused in lithium meteborate, then dissolved in dilute HNO3. Individual tantalum and niobium results were analysed using total HF digestion. The company wishes to announce that Meghan Mcginley has resigned as CFO for health reasons. James Tuer, President, will re-assume the role of CFO until a new CFO is appointed. Hudson would like to thank Meghan for her contribution to the company. Dr. John Ferguson, a qualified person under National Instrument 43-101, reviewed this press release. ON BEHALF OF THE BOARD OF DIRECTORS James Tuer, President |
1 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply