Novastar Resources Ltd. Announces Thorium Drill Log Results.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Novastar Resources Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NVAS NVAS Netview Access Services ) has reported drill log results from one of the seven anomalies within the Australian Thorium thorium (thôr`ēəm) [from Thor], radioactive chemical element; symbol Th; at. no. 90; at. wt. 232.0381; m.p. about 1,750°C;; b.p. about 4,790°C;; sp. gr. 11.7 at 20°C;; valence +4. (Th) property. These drill results were obtained by Getty Oil Getty Oil is an oil company founded by J. Paul Getty. In 1984, Texaco bought Getty Oil. On November 19, 1985, Pennzoil won a US$10.53 billion verdict from Texaco in the largest civil verdict in US history. Development Co. ("Getty") and confirmed by a third party Warman Ltd., a major Australian Rare Earth Minerals laboratory. The samplings from which the results were derived, was extensive in nature, varying in depths and locations throughout the anomaly. The Getty analysis of Thorium ore was performed by creating and sampling two depth chart zones, known as Anomalous Bands. The first Anomalous Band refers to materials ranging from the surface to 10 meters beneath in depth. The second Anomalous Band refers to materials of depths ranging from 10.1 meters to 21 meters beneath the surface. The Company expects to commence a drilling program to explore even greater depths for the presence of additional Monazite monazite (mŏn`əzīt), yellow to reddish-brown natural phosphate of the rare earths, mainly the cerium and lanthanum metals, usually with some thorium. Yttrium, calcium, iron, and silica are frequently present. and Thorium. In determining the concentrations of Monazite and Thorium ore within this anomaly, Getty extracted more than 25 samples. The outlier outlier /out·li·er/ (out´li-er) an observation so distant from the central mass of the data that it noticeably influences results. outlier an extremely high or low value lying beyond the range of the bulk of the data. results were discarded leaving 15 distinct drilling and sampling site results from varying locations and depths across the anomaly. From these 15 samples, the concentration of Thorium was analyzed in parts per million parts per million mg/kg or ml/l; see ppm. (ppm) yielding a specific numerical average of Thorium concentration. The concentrations of the Thorium bearing mineral Monazite, was also calculated in both Anomalous Bands. The concentration (%) of Monazite was reliably assessed at slightly below 1% or 10,000 parts per million. The mineral Monazite contains between 3% to 9% Thorium Oxide (ThO2) along with rare-earth minerals. All commercial grade pure Thorium metal is recovered from the mineral Monazite. The mean Thorium concentration throughout this anomaly is calculated as 409 parts per million or 0.0409% by composition. This represents the average Thorium concentration of the drill log results from Getty and was reconfirmed by Warman Ltd. The complete drill log tables are accessible on the corporate website (www.novastarresources.com) under the "Resources" heading. The sample identification numbers range from 14602 to 14631 with numerous omissions of outlier results. The tested anomaly of the Thorium property covers an area of approximately 950 acres. The tonnage of recoverable material within this anomaly (at depths of 21 meters or less) is estimated at 900,000 metric tons. There are six other known anomalies on the property that have not yet been drilled or sampled. Certain conversion formulas should be explained to investors and shareholders to display the full potential value of Thorium metal within this anomaly. One part per million (ppm) is equal by mass to one gram (gm). There is exactly 1,000,000 grams in a metric ton of any material. Applying these conversions to the Company's drill log data, there's approximately 409 grams of Thorium metal in each metric ton of material within the anomaly. The next step is applying the conversion formula for grams (gm) to ounces (oz) having 30 grams per one troy ounce Noun 1. troy ounce - a unit of apothecary weight equal to 480 grains or one twelfth of a pound apothecaries' ounce, ounce troy unit - any of the unit of the troy system of weights . Our final analysis concludes that there is estimated to be 13 to 14 oz of Thorium per each metric ton of recoverable material. As fore mentioned, the Company has an estimated tonnage of recoverable material of 900,000 metric tons. Pure (.998) or (.999) Thorium metal commands a current market price of about $150 per oz. Commenting on the drill log results, Novastar President Paul Carter Paul Carter is the name of:
For more information about Novastar Resources Ltd. visit our web site at www.novastarresources.com The statements contained in this press release contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including statements regarding the company's expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without the control of the company's management. On Behalf of the Board Paul G. Carter Novastar Resources Ltd. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :NVAS) |
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