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In August of 2007, the company entered into an exploration agreement with an option to purchase the 265 acre High Park Trails Ranch that adjoins the High Park uranium project. The ranch covers a portion of Section 25 contiguous with claims already owned by the company. During the option period the company has full access to the property to conduct an exploration and drill program to ascertain whether it wishes to exercise its option.
Once all of the High Park claims were surveyed in and the company completed a comprehensive review of all the data available on the project and has carried out a ground scintillation survey to identify possible new drill targets. Three initial surface grab samples yielded assays of: 0.290%, 0.383% and 0.504% uranium respectively. These samples were taken during the initial evaluation of the property and were assayed by Grand
Junction Laboratories.
In November of 2007, the company completed an accelerated drill program on the High Park properties. The drilling program seeks to extend the known mineralization of the properties by focusing on twinning holes previously reported by Cyprus Mining Corporation, and step out drilling of the adjacent High Park Trails Ranch. The completed drill program includes 37 holes with a collective depth of 6,651 feet. Probes were used to confirm and measure the level of uranium in the drill holes.
The company believes that the drilling program should successfully convert most of the inferred ore blocks to proven ore reserves and substantiate the indicated mineral trends.
Samples have now been sent for assay and the data gathered will be computerized and evaluated. Computer modeling of the results once they are available should allow the company to better understand the structure of the deposit and to generate new reserve calculations.