VANCOUVER, Oct. 9 /PRNewswire-FirstCall/ -- Buckingham Exploration Inc. (OTC BB: BUKX) announced today that its wholly owned subsidiary Hyde Park Uranium Inc. has been granted a drill permit and has commenced drilling on its High Park uranium property in Teller County, Colorado. The High Park project consists of 29 unpatented lode mining claims located in Sections 25, 30 and 31, acquired from Pikes Peak Resources Inc and an additional 25 adjoining claims recently staked by Buckingham. Buckingham also holds an exploration agreement with an option to purchase the 265 acre High Park Trails Ranch which adjoins its claims, and has been granted a further drill permit for that property. The project is located approximately 30 miles northwest of Canon City, Colorado and is accessible by a well maintained county road.
Buckingham has 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 (U308) respectively. These samples were taken during the initial evaluation of the property and were assayed by Grand Junction Laboratories.
The claims have been explored in the past by Cyprus Mining Corporation and a total of 354 holes were drilled on the property. Of these, 339 holes are located on section 25 where significant uranium ore reserves were partially delineated. Mineral trends are open ended and identified in at least five horizons within the project area related to braided stream deposits in the Tallahassee Creek conglomerate.
Says Robin Relph, President of Buckingham Exploration: "We are optimistic that we can duplicate the previous results obtained by Cyprus Mining which will allow our geologists to use previously obtained historical data with confidence. We also anticipate that step out drilling will extend the mineral trends previously identified."
The ongoing exploration of the property is being co-ordinated out of the company's Canon City office and being overseen by Gerald M. Park, the company's senior geologist, and Joseph R. Anzman, the senior geophysicist.
About Buckingham Exploration Inc.:
Buckingham Exploration is an Exploration Stage Company whose principal business is the acquisition and exploration of mineral resources. The company focuses on the exploration of uranium properties in North America.
Forward-looking (safe harbour) statement:
Statements in this press release that relate to future results, strategies and events are based on the company's current expectations. All statements other than statements of historical fact are statements that could be deemed to be forward-looking statements. These statements involve risk and uncertainties that could cause actual results to differ materially include, but are not limited to, those detailed in Buckingham's filings with the U.S. Securities and Exchange Commission. Buckingham assumes no obligation to update the information in this press release.
CONTACT: Mr. Robin Relph, President & CEO, at (604) 737-0203
