LAS VEGAS, Nev. (PRWEB) June 3, 2008
The area that the Company is venturing into is located in the San Rafael Desert area of eastern Emery County Utah, just west of the Green River and north of Glen Canyon National Recreation Area. The leased lands are west of the Mineral Canyon mining district and Labyrinth Canyon Area of Critical Environmental Concern (ACEC).
The Moss Back Member of the Chinle Formation is expected to underlie the leased lands, based on drilling records from the oil and gas industry on file with the Utah Geological Survey. Historic mines and prospects in the canyon of the Green River and its tributaries indicate widespread uranium enrichment in the area.
The claims group follows the subsurface extension of the same channel trend in the lower Chinle formation that hosts the Lisbon Valley district, which includes the world-class Mi Vida mine. The target is the same host rocks as the Mi Vida, in a similar geologic setting, on the nose of a plunging salt anticline. Total production from the lower Chinle in southeastern Utah has been more than 100,000,000 pounds U3O8.
About Wave Uranium:
Wave Uranium is a Las Vegas, Nevada based exploration and development uranium company. The Company is actively acquiring world class uranium properties in prolific mining areas in North America.
Wave Uranium has assembled a team of geologists and directors with proven track records in areas of mineral exploration, mining programs and accessing global capital markets.
Safe Harbor : Except for the historical information contained herein, the matters set forth in this press release, including the description of the Company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the Company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the Company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.