Initial Drilling Conducted At The Coyote Basin

VANCOUVER – Homeland Uranium Corp. reported on Part 1 of the Phase II exploration program at the Coyote Basin Uranium Project. The first six of the planned 35 Reverse Circulation (RC) drillholes have been completed as part of the Phase II exploration drilling program totaling approximately 5,300 m (17,000 ft). Drilling is focused on the key historical resource-bearing locations identified by previous operators and during the Company’s mapping and prospecting program. These first six holes were drilled on a single east-west oriented fence positioned at the northern end of the southern historical resource area defined by previous explorers.
Downhole Spectral Gamma Ray CPS (Counts Per Second) readings obtained from the completed drill holes (CB-RC-0023 to CB-RC-0028) demonstrate near-surface elevated radioactivity (50 – 100 m depth) that correlates with the shallow mineralized horizons previously identified in historical 1979 drilling, interpreted to dip gently eastward at approximately 4 degrees.
Drilling in hole CB-RC-0023, the easternmost hole on the fence, also identified multiple zones of elevated radioactivity at depths between 220 and 320 metres (722 – 1050 ft) that remains open for expansion.
In addition to confirming the down-dip extensions of the known outcropping radioactivity, anomalous radioactivity is found to be widely dispersed within shales, claystones, and fine-grained sandstones within the Upper Member of the Fort Union Formation. These findings suggest that there is potential for additional uranium mineralization to exist between the known mineralized horizons.