News

back to news

RESULTS – COMPREHENSIVE EXPLORATION PROGRAM

TORONTO AND VANCOUVER STOCK EXCHANGES SYMBOL: URB

 

Urbana Corporation (“Urbana”) is pleased to announce the results of its comprehensive $250,000 exploration program at its 48 claim (1,805 acre) Macho River Urban Township, Quebec property. Abex Geological Services has completed the summer exploration program which included a detailed review of the extensive exploration work previously completed on the company’s property.

 

The exploration program consisted of geophysical and geologic (including structural) surveys, trenching, cleaning-out and dewatering old workings, chemical sampling, mapping, re-logging old core and bio-chemical surveys.

 

Detailed mapping identified two shear zone structures, one mineralized and the other barren. This mapping identified a sequence of folded rhyolitic rocks which had not previously been identified and are excellent host rocks for base metal mineralization. There are numerous conductors that appear to be associated with these rhyolites.

 

Geophysical and geologic surveys have led to a new structural interpretation that suggests volcanic rocks have been folded around a dome located at the centre of the property. The west limb of this fold has historically been known as the Milner Shear.

 

The North and Farchell showings were re-sampled and channel samples confirmed the presence of high-grade gold mineralization. On the North showing, channel samples assayed 0.32 ounces per ton over 1.5 feet and 1.34 ounces per ton over 3.0 feet. On the Farchell showing, assays were 0.72 ounces per ton over 3.0 feet.

 

Abex Geological Services has recommended a two phase, 19 hole diamond drill program to test geophysical and geological targets.

 

Urbana Corporation is a mineral exploration company currently focusing its efforts on 48 claims in Urban Township, Quebec. The Barry and Urban township area has been the focus of active exploration for the past 3 years. The company is well capitalized with a marketable investment portfolio of $462,000 or $0.21 per share. There are no significant liabilities. Management controls approximately 45% of the 2.2 million shares outstanding.

 

Thomas S. Caldwell
President

 

 

Investor Relations: (416) 595-9106

Net Assets per share
as of December 7, 2018
$4.24
URB STOCK TSX: URB-A
2.31 +0.00 (+0.00%)
URB STOCK TSX: URB
2.35 +0.08 (+3.52%)