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|  Key Highlights
Technical Report Click here for the Sept 2009 NI 43-101 report on the Shirley Basin (PDF 6MB) 2011 Exploration Program The 2011 drill program included 35,760 feet (10,900 metres) drilled in 76 exploration boreholes as well as an updated NI 43-101 resource estimate. The updated resource estimate contains an indicated resource of 1.48 million pounds of uranium (2.1 M tons at 0.036%) and an additional inferred resource of 3.13 million pounds of uranium (4.0 M tons at 0.039%). The resource remains open for expansion. Further information about the resource estimate can be found in the January 19, 2012 news release A Preliminary Economic Assessment is scheduled for completion in early 2012. It is uncertain if further exploration will increase the mineral resource. Click here to view the latest drill results
Claim Ownership In September of 2009, Crosshair completed the 75% earn-in of the Bootheel and Buck Point Uranium Properties from venture partner Ur-Energy Inc. (TSX: URE). In addition, Crosshair has a Mineral Lease and Surface Use Agreement with MJ Ranches Inc. to acquire MJ Ranches' 75% mineral interest on land contiguous with Bootheel Uranium Property. History The Bootheel Property was originally staked in 1958 by Kerr McGee Corp. In 1977, Cherokee Exploration Inc. (Cherokee) acquired the land package, as well as the Kerr McGee database and drilling from 1978 to 1981 partly delineated both shallow and deep sandstone mineralization. In 1995, Cherokee sold the project and database to Cameco who carried out limited drilling and evaluation of the in-situ recovery potential. Although the results were very favourable, Cameco abandoned the property in 1998 due to the low uranium price ($10 per pound). Total drilling on the property is estimated to be over 100,000 feet. The Buck Point Property was drilled in 1979 and 1980 by Cherokee and Mobil Oil Corp. No further work was carried out on the property until Target, (now a subsidiary of Crosshair), acquired the interest from UR-Energy.
Geology The Bootheel Property hosts a historic resource defined by exploration work conducted in the 1970's that remains open for expansion. Historic work has identified uranium mineralization in roll front settings up to 600 ft wide, 25 ft thick, having an average grade of 0.044% U3O8. The Buck Point Zone also remains open for expansion. Mineralization has been found in at least 6 sandstone units over a 250 ft. interval, with grades up to 0.10% U3O8. By analogy to Bootheel, the property is considered to have potential to host significant uranium mineralization. Previous Exploration Based on the historical drilling and preliminary metallurgical test work, both Bootheel and Buck Point have potential for in-situ recovery should sufficient resources be defined.
A total of 50,163 feet in 93 holes was completed during the 2008 summer drill program, which appears to have confirmed and expanded the limits of the known mineralization. Holes drilled within the existing historical resource areas are highlighted by:
Holes drilled outside of the existing historic resource areas are highlighted by:
 Historic Uranium Resources and 2008 Drill Targets  Cross Section of Bootheel Project Please click here to view other sections An initial resource estimate was completed in 2009 for the Bootheel project which included an indicated resource of 1.09 million pounds of uranium (1.44 million tonnes grading 0.038% U3O8) and an inferred resource of 3.25 million pounds of uranium (4.40 million tonnes grading 0.037% U3O8). Further information about the resource estimate can be found in the August 13, 2009 news release. Stewart Wallis, P.Geo., is President of the Company and a Qualified Person as defined by National Instrument 43-101 for the above mentioned projects. The QP is a member in good standing of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) as a registered Professional Geoscientist (P.Geo.). Mr. Wallis has reviewed and is responsible for the technical information disclosed above. | | ||||||
