URSA Major Minerals has reported latest confirmation drill program results from the Shakespeare East Nickel deposit, which is situated 70 kilometers to the western part of Sudbury in Ontario.

The company drilled around 595 meters, totaling five vertical holes, in the central part of the proposed Shakespeare east pit. The drill program has validated the shallow mineralization in the East Pit region, which is considerably high grade than the material being explored presently from the Shakespeare west pit.

The company drilled the holes U3-127 to 131 vertically to 127 meters depth for validating the continuity of grade and for offering further geotechnical data to help start mining the Shakespeare east pit. It intersected 0.024% cobalt, 0.53% copper, 0.45% nickel and 1.15 grams per tonne precious metals over 83.7 meters in the hole U3-127, 0.025% cobalt, 0.51% copper, 0.43% nickel and 1.21 grams per tonne precious metals over 64.2 meters in the hole U3-131. High grade mineralization is present in many holes for an elevation of 250 meters, which forms the upper portion of the planned East Pit. The company has encountered high grade shallow mineralization, which has included 0.030% cobalt, 0.66% copper, 0.58% nickel and 1.34 grams per tonne precious metals over 29.7 meters in the hole U3-127.

Mr Richard Sutcliffe CEO of URSA Major said that the company encountered positive high grade mineralization from the Shakespeare East Pit and found an extensive progress over the grades of the Shakespeare West Pit. Currently, the company is expanding the plan for mining the Shakespeare East deposit and will offer an improvement plan for 2012.

(Sourced from www.ursamajorminerals.com)