Buckingham Exploration Inc. Announces Commencement of Second Drill on Its High Park Project in Colorado USA
Posted on: Wednesday, 24 October 2007, 09:00 CDT
VANCOUVER, Oct. 24 /PRNewswire-FirstCall/ -- Buckingham Exploration Inc. (OTC BB: BUKX) is pleased to announce that a second drill is now operating on its High Park uranium property. The High Park project consists of 54 unpatented lode mining claims located in Sections 25, 30 and 31, in Teller County, Colorado. Buckingham also has an exploration agreement, with an option to purchase, the 265 acre adjoining High Park Trails Ranch. The project is located approximately 30 miles northwest of Canon City, Colorado.
Initial drilling has concentrated on twinning holes previously reported by Cyprus Mining Corporation where probes have confirmed the presence of uranium in all holes thus far. Cyprus Mining Corporation previously drilled a total of 354 holes on the property. Of these, 339 holes are located on section 25 where significant uranium ore reserves were partially delineated. Mineral trends are open ended and identified in at least five horizons within the project area related to braided stream deposits in the Tallahassee Creek conglomerate.
The current program will further test the uranium mineralization on the property and attempt to extend the known mineralization. Step-out drilling is planned for the adjoining High Park Trails Ranch to potentially further extend the known mineralization.
Buckingham previously announced initial surface grab samples yielded assays of: 0.290%, 0.383% and 0.504% uranium (U3O8) respectively. These samples were taken during the initial evaluation of the property and were assayed by Grand Junction Laboratories. Current assays will be released once they have been received and collated.
Says Robin Relph, President of Buckingham Exploration, "Based on the positive results obtained to date, we have commissioned a second drill in order to gather as much information and assay samples before the onset of the winter snow. Colorado's elevation makes winter exploration programs difficult but we will have gleaned enough information from our work on the ground as well as material for assay to allow our geological team to evaluate results over the winter months and be ready to advance exploration in the spring."
The ongoing exploration of the property is being coordinated out of Buckingham's Canon City office and is being overseen by Gerald Park, Senior Geologist and Joseph Anzman, Senior Geophysicist. Please visit Buckingham's website at http://www.buckinghamexploration.com/ to view updated information with regards to the company's activities and to subscribe to receive news releases automatically by email.
About Buckingham Exploration Inc.:
Buckingham Exploration is an Exploration Stage Company whose principal business is the acquisition and exploration of mineral resources. Buckingham focuses on the exploration of uranium properties in North America.
Forward-looking (safe harbour) statement:
Statements in this press release that relate to future results, strategies and events are based on the company's current expectations. All statements other than statements of historical fact are statements that may constitute forward-looking statements, and are subject to risk and uncertainties that could cause actual results to differ materially. See Buckingham's filings with the Securities and Exchange Commission including, without limitation, its recent Form 10-QSB and Form 10-KSB, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. Buckingham assumes no obligation to update the information in this press release.
CONTACT: Mr. Robin Relph, President & CEO, at (604) 737-0203
Buckingham Exploration Inc.
CONTACT: Mr. Robin Relph, President & CEO, at (604) 737-0203
Source: PRNewswire-FirstCall
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