- 22.08.2007, 17:59:06
- /
- OTE0009
ESO Drills Radioactive Intervals in Eight Drill Holes Testing Radon Anomalies on The Carswell Project Near the former Cluff Lake Mine, West Athabasca Basin, Saskatchewan
Vancouver, Canada (ots/PRNewswire) - ESO Uranium Corporation
(TSX-V: ESO), the Company, announces with Hathor Exploration Limited
(TSX-V: HAT) that 21 holes have been completed in the current drill
program being operated under the new joint venture between the
Companies. Two drill holes have intersected radioactive intervals in
the area East of Bridle Lake, close to a percussion hole drilled by
Mokta ( an Areva predecessor company) that reported 0.11%
(equivalent) uranium oxide over 1.5 meters at a shallow, 41 meters
depth.
6 holes, of a further 7 holes, have intersected radioactive
intervals in an area of a radon anomaly 1.5 kms east of Bridle Lake.
The best interval thickness was in the second group of drill holes
and was approximately 8 meters wide with average gamma probe results
comparable to the level encountered in the two holes close to the
Mokta hole discussed above. These drill intersections are all
located on a claim adjoining the Cluff Lake mining lease of Areva.
The first two holes were designed to test possible extensions of
mineralization indicated by the earlier Mokta Bridle Lake drilling,
in an area that had been identified by prospecting and radon
surveys. The second segment of the current drill program is testing
an area with radon anomalies, described in assessment reports by
Mokta, which is over 300 meters long across the main direction of
ice movement during the last glacial period. According to available
records, Mokta did not drill test these anomalies.
The widest radioactive intersection is in drill hole BR-18 in the
eastern radon anomaly and has a width of approximately 8 meters with
an approximate average of 3500 counts per sec (cps). This width may
not be a true width but the bottom of the intersection terminates
against a fault structure which opens the possibility of a larger
total original width of mineralization. Below the fault the
radioactivity drops immediately to background levels of about 50
cps.
A higher level of radioactivity was reported in the probe chart of
drill hole BR-18 at 41 meters hole depth. This interval was about
10,300 cps over an interval of 15 cms width. The radioactive
intercepts in 5 holes contiguous with BR-18, BR-15 through BR-19 and
BR-21, were in the 10 to 15 mm width range with probe values in the
range of 1750 to 3500 cps at depths of 80 to 110 meters down hole.
The gamma probe used in the drill holes has not been calibrated
sufficiently to allow an estimate of grade at this time.
The radioactive intersections have been identified both with a
hand held scintillometer check of drill core and by probing the
drill holes with a Mt Sopris total counts gamma probe. The rocks
containing the radioactivity have a characteristic strong red
haematization of feldspars in a coarse-grained, sub-pegmatitic phase
of basement rocks. These results encourage further drilling of the
radon anomaly area and deeper testing beneath drill holes with
significant alteration. The samples have been split and forwarded to
Loring Laboratories in Calgary to be assayed for uranium and gold.
The Carswell Project includes mineral tenure that adjoins the
former producer, Cluff Lake Mines, and covers more than 67,000 acres
(27,000 hectares) of prospective uranium exploration lands. Cluff
Lake Mines produced more than 60 million pounds of uranium oxide
during the period 1980 to 2002. More than 8,000 ounces of gold were
produced in the last 3-4 years of the mining operation, before
decommissioning and achieving ISO 14001 environmental
classification. The Cluff Lake mineralization, with an average grade
in the order of 0.85% (17 lbs per ton) uranium oxide, was much
shallower than that of most of the other Athabasca Basin mines and
was mined mainly by a number of small open pit mines and a few
shallow underground mines.
The Carswell Structure is considered by many geologists to be an
astrobleme impact site. The comet or meteorite that crashed into this
part of the Athabasca sedimentary basin is believed to have punched
right through the sedimentary rocks and, on the rebound of the rocks
after the impact, the basement rocks beneath the sediments were
lifted up to the present day surface. This very energetic process is
similar to what can be observed at a smaller scale when a stone is
thrown into a mud puddle and the mud splashes upwards after the
initial impact of the stone.
Towards the rim of the Carswell impact site, the sand stone was
also displaced upwards and outwards and in some areas the original
basement rocks can overlie sandstones of the younger Athabasca Basin
formations. It is this displacement that positioned the basement
contact type mineralization and its roots close to the present day
surface. The target environment being explored would be similar to
the root zone of a typical Athabasca Basin uranium deposit such as
found in the nearby Shea Creek type mineralization.
For reference, the current spot price quoted by uxc.com for
uranium oxide is US$90 per pound of U3O8; an assay reported as 1.0%
of U3O8 is equal to 20 pounds of uranium oxide per short ton - the
conversion of percent metal or metal oxide from percent to pounds
per short ton is done by multiplying the % value by 20.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
---------------
Vice President, Exploration
Please refer to the ESO Uranium website for further and updated
information.
The Toronto Venture Exchange has not reviewed nor accepted
responsibility for the adequacy or accuracy of the contents of this
news release which has been prepared by management. Statements
contained in this news release that are not historical facts are
forward looking statements as that term is defined in the private
securities litigation reform act of 1995. Such forward looking
statements are subject to risks and uncertainties which could cause
actual results to differ materially from estimated results. Such
risks and uncertainties are detailed in the Company's filing with
the Securities and Exchange Commission.
Trading Symbol TSX-V - ESO
Frankfurt - E2G
Rückfragehinweis:
For further information: For corporate communications please contact:
Tom Corcoran or Bob Meister, ESO Uranium Corp., Vancouver, BC, Phone:
+1-(604)-629-0293, Toll Free: 1-866-629-0293, Email:
[email protected]/
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