CanAm Uranium Corp. (CAUI.OB) reports the completion of six test drill holes at the Halo Property.
It is important to note, the current price of Uranium is $120 per pound as of May 7 2007, is up $7 since the release of the information by Operator El Nino Ventures.
El Nino and CanAm released assay results for the first four drill holes. Best results to date have been achieved in DDH H-4, the upper hole on the second or easternmost section drilled.
Eight radioactive pegmatite dikes were intersected within an interval of 24 metres. Assays/width ranged from 0.01 per cent uranium oxide (U3O8) (0.2 pound per ton) over 0.11 m to 0.31 per cent U3O8 (6.2 pounds per ton) over 1.52 metres.
Average weighted grade of the dikes was 0.09 per cent U3O8 (1.8 pounds per ton) with a cumulative width of 8.9 metres. Anomalous amounts of certain heavy rare earth elements have been noted. In Sample 8027 from DDH H-4, 18 grams per tonne (g/t) scandium was reported along with 0.10 per cent U3O8 (two pounds per ton) across an interval of 1.31 metres.
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