URSA Major Minerals Announces 2010 Exploration Plans for its Ontario Nickel-Copper and PGM Projects and Update on Operations at Shakespeare Mine
URSA Major Minerals Incorporated ("URSA Major") (TSX:UMJ) is pleased to announce exploration plans for the Company’s nickel-copper and PGM projects in 2010. Nickel Offsets Property URSA Major’s initial 5-hole 1,807 meter drilling and borehole electromagnetic (EM) geophysical survey program completed in late 2009 identified massive sulphide targets in proximity to the existing workings of the past producing Nickel Offset No.1 Mine. URSA Major plans a 3,000 meter Phase 2 diamond drilling and borehole EM program to follow up on the EM targets and strategic geological contacts identified in the first program. Assays from drill hole U15-02 provided the best intersection of the initial program with 1.6 meters grading 3.12% nickel, 1.15% copper, 0.12% cobalt, 1.39 g/t platinum, 2.04 g/t palladium and 0.21 g/t gold (see February 1, 2010 press release). This high grade intersection is a newly discovered mineralized lens and is located at a shallow level adjacent to the former mine workings at a down hole depth of 250.4 to 252.0 meters. A borehole EM survey in holes U15-02 and U15-04 identified anomalies indicative of a massive nickel sulphide lens that was intersected in hole U15-02. The anomalies are centered east of and below holes U15-02 and U15-04. The Company intends to initiate the Phase 2 program immediately following the spring break up. URSA Major has an option to earn a 70% interest from United Reef Limited (TSXV:URP) in this property located in the Foy Offset Dyke, in the Sudbury Complex footwall, 40 km northwest of Sudbury, Ontario.