London 19 September 2005. Agricola Resources plc ("Agricola"), the OFEX traded resource company involved in uranium exploration, announces that as a result of exploration fieldwork it has made a new uranium discovery at Hautajaervi, Lapland County, Northern Finland. Early results of sampling of bedrock outcrop confirm uranium presence associated with high scintillometer readings. Several samples sent for analysis to Canada had to be dispatched in sealed containers because they were highly radioactive. Results of these later samples are still awaited.
As a direct response to the uranium discovery Agricola has increased the Hautajaervi licensed area with two new claim reservations. They have been registered at the Finnish Ministry of Trade and Industry. The claims now cover 94 square kilometres.
Field work is continuing on the claims and trenching of the bedrock will be undertaken in September 2005. The rock is a red coloured albitite breccia intersected by dolomite veins. Petrographic studies of the rock are underway. The bedrock outcrop is associated with airborne uranium radiation anomalies and airborne magnetic anomalies (See www.agricolaresources.com). The airborne results were supplied by the Geological Survey of Finland.
The discovery was made by Agricola through detailed scintillometer surveys near a high grade uranium boulder registered by Outukumpu Oy in the 1970's and now listed by the Geological Survey of Finland. Several high grade uranium sites were recorded by Agricola to the west of the original site. After a detailed grid survey a highly radiating zone of about 300m length and 100m width was defined. The zone is associated with a minor topographic ridge. Analytical results obtained so far show uranium up to 0.20% (0.24% uranium oxide) and low levels of thorium. Gold is noted at 0.2 grammes per tonne. Further results from the highly radioactive samples are awaited. A MSc Thesis by J. Astala 1974 records uraninite (uranium oxide) and davidite (a uranium bearing rare earth mineral) in an altered dyke rock with dolomite veins located within the Agricola licence area about three kilometres to the west of the discovery.
The chemical analysis is by ALS/Chemex Laboratories of Vancouver, Canada. Thirty six chemical elements were assayed by ICP MS. Gold and other precious metals were analysed by fire assay techniques.
The Hautajaervi project is easily reached by high standard roads. It is located just south of the Arctic Circle about 40 kilometres south of the town of Salla and about 140 kilometres east of the town of Rovaniemi. The distance to Helsinki is 800 kilometres. The area is sparsely populated, with large forestry areas intersected by numerous lakes.
The Directors of the Issuer accept responsibility for the contents of this announcement.
Contact :
Dr. Robert Young, Chairman
Agricola Resources plc
Tel: +44 (0) 1353 648 931
Mr. Gavin Burnell
Ruegg & Co Limited
Tel: +44 (0) 20 7584 3663
Finland Uranium Project 2005, Hautajärvi area, N. Finland.
Bedrock geology with area of newly discovered high grade uranium in outcrop.
Location of Agricola reservation claims ”Hautajärvi no. 1-7 and 8-9”
Hautajärvi Project, Lapland, N. Finland
Airborne magnetic map with location of Uranium discovery area
Hautajärvi Project, Lapland, N. Finland
Airborne magnetic map with location of Uranium discovery area
Agricola fieldcrew at high reading scintillometer bedrock clearing at the discovery area, August 2005. Hautajärvi, N. Finland
High reading scintillometer boulder close to bedrock at the discovery area, Hautajärvi, N. Finland
Further high reading scintillometer bedrock/boulder clearing at the discovery area, August 2005. Hautajärvi, N. Finland
Agricola fieldcrew Per-Ola Larsson and Dan Taylor with Finnish county geologist J. Jylänki at motel campsite at Ruka, August 2005, Hautajärvi Project area, N. Finland
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