Teedlum
12 years ago
Alpha Minerals Inc.: 57.5 Meters With High Grade Uranium in Hole PLS 13-038 Located 385 Meters East of Discovery Area
AMW:CA AMW
2/19/2013 11:51:31 AM
Alpha Minerals Inc.: 57.5 Meters With High Grade Uranium in Hole PLS 13-038 Located 385 Meters East of Discovery Area
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2013) -
Editor's Note: There is a chart associated with this release.
Alpha Minerals Inc. (TSX VENTURE:AMW), (the "Company" or "Alpha"), and its Joint Venture partner Fission Energy Corp. are pleased to release additional results from the Patterson Lake, Saskatchewan, core drill program. Hole PLS 13-038, located along the same conductor as adjacent to the Discovery (see News Release Nov 5, 2012), but 385 meters to the East, intersected two high grade zones within an overall Upper Zone of 57.5 meters of strong mineralization and also a Lower Zone of 15.5 meters thickness of intermittent uranium mineralization.
Due to the materiality of the most recent drilling of a target 385 meters east of the first discovery area, it was considered appropriate to release this information immediately. Results of delineation drilling west of the first discovery area and drilling in the area of targets on the lake on lines line 90E and 105E will be released shortly when data compiling is completed.
An ongoing field program is in progress. Core drilling continues to delineate and define the mineralized region identified during the summer 2012 program.
The drill hole location was selected from anomalous results in a recently completed radon survey of lake water. The survey results of note were as follows. RadonEx Exploration Management of Montreal were contracted to conduct a 191 station Lake Water and Sediment Radon survey over Patterson Lake, on strike to the east of the November 2012 discovery area. Station spacing was generally 20m on 60m lines. Of note, 3 broad anomalous area were identified, with values up to 11.4 pCi/L; A)90m x 70m (L165E - L255E) and B) 240m x 140m (L300E 0 L540E). Drill hole PLS13-038 was targeted to test anomaly B. The third anomaly is located approximately 2.2km east of discovery hole PLS13-022 and will be drilled during this program.
The higher grade intervals in the drill hole are shown on the attached strip log showing the rock types on the left columns and the gamma counts per second in the solid red area of the strip log. The highest point reading of the high grade was 76,233 cps. The high grade section within the Upper Zone includes:
20 meters from 87 -107 meters down hole greater than 10,000 cps
Including: 9 meters from 96 -105 meters down hole greater than 45,000 cps
(see Gamma Log attached below)
PLS13-038 intersected a thin cap of probable Devonian Sandstone that overlies the semi-pelite gneiss hanging wall constraining an intercalated package of pelite and graphitic pelite gneiss. Occasional pegmatite injections were observed throughout the pelite, graphitic pelite, and semi-pelite units. Strong visible mineralization occurs as flecks, blebs, clots, veins, and semi-massive intervals of pitchblende. Of note, wormhole style mineralization was observed for the first time. Moderate to strong clay, chlorite, and hematite alteration were observed throughout the mineralization.
The reader is cautioned that the cps readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is normally variable and associated with visible pitchblende mineralization. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
The Gamma Log attached below was the result of a radiometric surveyed with the Mount Sopris 2GHF-1000 Triple Gamma probe over the highly radioactive zones. This tool can return more accurate measurements in high grade mineralized zones and samples a larger volume of rock than the hand held scintillometer.
Patterson Lake South Property
The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Alpha Minerals Inc. (AMW) and Fission Energy Corp. (FIS). Fission is the Operator. PLS is accessible by road via all-weather Highway 955, which runs north to the former Cluff Lake mine, (>60M lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development. Updated maps highlighting the successful fall 2012 drill program at PLS can be found on the Company's website: www.alphaminerals.ca.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of the company by Garrett Ainsworth, P.Geo BC, Vice President of Exploration for Alpha Minerals Inc., a qualified person for the Company.
On behalf of the Board of Directors of Alpha Minerals Inc.
Ben Ainsworth
President, CEO and Director
This press release contains "forward-looking information" that is based on Alpha's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Alpha's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Alpha's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Alpha disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
To see the chart associated with this release please select the following link:
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Alpha Minerals Inc.
Robert (Bob) Meister
Vancouver, BC
(604) 629-0293 or Toll Free: 1-866-629-U3O8 (8368)
www.alphaminerals.ca
Marketwire Canada
February 19, 2013 - 11:51 AM EST
gsfl
13 years ago
ESO announces adoption of Shareholder Rights Plan
Trading Symbol TSX-V - ESO
Frankfurt - E2G
Not for distribution to United States newswire services or for dissemination in the United States.
VANCOUVER, Dec. 6, 2011 /CNW/ - ESO Uranium Corp. ("ESO" or the "Company") (TSX-V: ESO) today announced that its board of directors has adopted a Shareholder Rights Plan (the "Rights Plan"). The objective of the Rights Plan is to ensure, to the extent possible, that all shareholders of the Company are treated equally and fairly in connection with any take-over bid for the Company. Take-over bids may not always result in shareholders receiving equal or fair treatment or full value for their investment. In addition, current securities legislation only requires a take-over bid to remain open for 35 days. The Board believes that this period may be insufficient for the shareholders to evaluate a bid, or for the Board to pursue alternatives which could maximize shareholder value and make informed recommendations to shareholders. The Rights Plan was not adopted in response to, or in anticipation of, any acquisition or takeover offer. The Company is not aware of any pending or threatened takeover bid.
In order to implement the Rights Plan, the board of directors has authorized the issuance of the rights to holders of its common shares at the rate of one right for each common share outstanding. For administrative convenience, the rights will automatically attach to the common shares and will be represented by certificates representing the common shares. No further action will be required by the shareholders. On the occurrence of certain triggering events, which includes the acquisition by a person, or a group, of 20% or more of the votes attached to all outstanding voting shares of the Company in a transaction not approved by the board of directors, the rights will entitle to holders (other than the acquiring person or group) to acquire common shares of the Company at a 50% discount to the market price. The rights are not triggered by purchases of voting shares made pursuant to a "permitted bid", which is a takeover bid made by way of a formal takeover bid circular to all holders of common shares on identical terms, which is open for at least 60 days and is for a minimum of at least 50% of the outstanding voting shares held by independent shareholders, and which permits shareholders who tender their shares to subsequently withdraw them before the closing date of the bid.
The Rights Plan is subject to acceptance by the TSX Venture Exchange and ratification by the Company's shareholders. The Rights Plan will be submitted to the shareholders for ratification at the Company's next annual general meeting, to be held in the first quarter of 2012.
On behalf of the Board
"Ben Ainsworth"
Director
gsfl
13 years ago
More high grade uranium boulders found in trenching programme, Patterson Lake South JV, Saskatchewan
VANCOUVER, Nov. 1, 2011 /CNW/ - ESO Uranium Corp. (TSX-V: ESO), (the "Company" or "ESO") and its 50% Joint Venture (JV) partner Fission Energy (TSX-V: FIS), are pleased to announce that the first phase of work resulted in the completion of 18 trenches. Line cutting is now underway for the second phase of work. Ground geophysical surveys including Max Min EM and Induced Polarization are expected to start this week. This trenching has started the detailed search for the bedrock source of the large uranium boulder field discovered by the Joint Venture in June 2011 (see news release dated July 27, 2011).
49 radioactive boulders located in and around the area of trenching
19 off-scale boulders & 8 trenches with significant radioactivity
Boulders increasing in size to the east, suggesting easterly source
Boulders still indicating that a window into Archean Basement is the target
Property extends well beyond probable source area
The uranium boulders discovered in June were all associated with basement rocks, schists, psammites and granulites, and not Athabasca sandstones or conglomerates. These boulders were plucked from a basement source by ice scouring the Archean basement rocks. In this new work, the largest off-scale boulder collected consisted of massive pitchblende with yellow secondary uranium minerals; it had dimensions of 25x30x40 cms (10x12x 16 inches). These larger blocks suggest that the bedrock source is close and well within the claims.
The boulder field discovery was built out of the work completed by Canadian Occidental in the late 1970s. The Patterson Lake South Joint Venture carried out the further work including specialized radiometric and magnetic airborne surveys, followed by ground work including radon and radiometric surveys, that enabled the discovery. "Boots on the Ground" were a key element to the actual discovery of an area which had been recognized in an assessment report of CanOxy. It was commented in this report that a zone that had been located with elevated surface radioactivity and several radon hot spots was probably due to "exotic" boulders in the till.
The Joint Venture recognizes the nature of the boulder cluster and the association with Archean rock types as being strong evidence to point to a nearby source in rocks of the Archean Basement. Recent traverses on the northeast side of the claim block have located no Archean boulders on the surface or in till. This suggests that there is no northeasterly extension of the erosional window into the older basement rocks.
Other companies currently active in the area include Titan Uranium Inc (TSX.V:TUE) who hold a claim block that straddles the Patterson and the Derkson Conductor Corridors and which occupies the area on the north side of the ESO-Fission JV claims.
In the area of the ESO-FIS JV claims, the Patterson Conductor Corridor runs along the boundary zone between the Clearwater and Western Granulite Domains. According to assessment reports submitted by SMDC, the Crown Corporation predecessor company of Cameco (TSX:CCO), this is interpreted to have had a favourable geological history, analogous to the highly productive Wollaston Domain along its boundary with the Mudjatik Domain in the East Athabasca Basin.
A map of the Patterson Lake South Property can be found on the Company's website at www.esouranium.com
Benjamin Ainsworth, P.Eng. BC, is the Qualified Person responsible for the technical disclosure contained in this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
Vice President, Exploration
gsfl
13 years ago
HUNT FOR HIGH GRADE URANIUM SOURCE STARTS ON PATTERSON LAKE SOUTH JV, SASKATCHEWAN
ESO Uranium Corp. (TSX-V: ESO), (the “Company” or “ESO”) and its 50% Joint Venture (JV) partner Fission Energy (TSX-V: FIS), are pleased to announce that all permits for a programme of drilling, trenching and ground geophysical surveys has been received. Work has started in the search for the bedrock source of a large uranium boulder field discovered by the Joint Venture in June 2011 (see news release dated July 27, 2011). This work includes:
• Definition of local ice transport directions (underway) • MaxMin EM surveys to re-locate historical conductors on the
ground
• Resistivity survey to identify potential basement alteration zones
• Drilling to locate radioactive debris in glacial till from basement sources
• Drilling of high grade basement targets
The uranium boulders discovered in June were all associated with basement rocks, schists, psammites and granulites, and not Athabasca sandstones or conglomerates. These boulders were plucked from a basement source by ice scouring Archean basement rocks.
The target area is within a defined window of Archean rocks that are buried by 50-60 meters of till cover. The window was opened by glacial scouring along the southern edge of the Athabasca basin that also removed some of the younger Cretaceous cover. The programme is targeting high grade uranium deposits hosted in basement rocks, similar to those deposits found in the lower parts of the Shea Creek deposit (60 kms (40 miles) north of Patterson Lake) and the Millenium, Key Lake and Roughrider mega-deposits in the eastern Athabasca Basin. The 5 km length of the boulder field and distinct clusters of associated geochemical values in the boulder field suggest more than one source for the boulder field.
Drill targets have been selected, subject to modification by information from this new work program. The targets were determined by a review of technical data,
Suite 408 - 1199 West Pender Street, Vancouver, BC V6E 2R1 Telephone 604-629-0293 Fax 604-684-9365
2
including geophysical surveys and parameters suggested by diamond drill hole information in assessment reports presented by Canadian Occidental in the late ‘70s. The geophysical data indicate several strong ground EM conductors on the east side of Highway 955 in the Patterson Conductor Corridor. The conductors appear to have been disrupted by non-conductive structures crossing them. The breaks in the conductors are also associated with a magnetic low that could be interpreted as an alteration feature. This sector of the Patterson Conductor Corridor lies about 3 kms northeast from the centre of the boulder field where some of the larger boulders were located.
The drill hole data available include geological logs and down-hole radiometric surveys. One hole, CLU-12-79 on the north side of the target area, showed two short intervals of sharply anomalous radioactivity in the basement rocks intersected. This hole also has a thicker section of regolith than other holes in the area which may reflect local hydrothermal alteration. These observations suggest possible proximity to mineralization.
The Patterson Conductive Corridor runs along the boundary zone between the Clearwater and Western Granulite Domains. According to assessment reports submitted by SMDC, the Crown Corporation predecessor company of Cameco (TSX:CCO), this is interpreted to have had a favourable geological history, analogous to the highly productive Wollaston Domain along its boundary with the Mudjatik Domain in the East Athabasca Basin.
An updated drill location map for the Patterson Lake South Property can be found on the Company’s website at www.esouranium.com
B.Ainsworth P.Eng. SK/BC is the Qualified Person responsible for the technical disclosure contained in this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
“Ben Ainsworth”
Vice President, Exploration For corporate communications please contact:
Robert (Bob) Meister ESO Uranium Corp. Vancouver, BC Phone: (604) 629-0293 Toll Free: 1-866-629-8368 Email: info@esouranium.com
gsfl
13 years ago
ESO COMPLETES DRILLING ON DONNA GOLD PROPERTY
Vancouver, Canada, August 17th, 2011: ESO Uranium Corp. (TSX-V: ESO), (the “Company” or “ESO”) is pleased to announce that it has completed a thirteen (13) hole, 1633 meter drill program in its option to earn a 100% interest in the Donna Gold Property, in South Central British Columbia. Samples from the first batch of holes were delivered for assay on August 5th, 2011. Core logging and sampling is continuing and the remaining samples should be delivered in 10 days for assay. The drill program was successfully executed by HardRock Diamond Drilling Ltd of Penticton, BC.
The drill program was designed to further test the area of earlier drilling and trenching, and possible down-dip mineral extension to the west. Eight of the core holes intersected intervals of “strong sulphide mineralization”, similar to mineralized exposures in trenching that carried significant gold values. Quartz veining carrying pyrite, stibnite, minor chalcocite and arsenopyrite was recovered with bleached alteration envelopes extending into the host dioritic and skarn rocks.
A 2010 drill program by ESO tested targets on the central and western parts of a gold anomaly in soils that extends more than 1,600 meters (5,300 feet) along the height of land between the Kettle River and Yeoward Creek, which are both historical gold placer producers. The gold soil anomaly is partially coincident with historical trenching and drilling. Soil sampling by ESO in July 2010 had shown extensions of the gold anomaly with values of up to 0.7 g/t gold in soil.
ESO announced the results of its initial drill program on the Donna Property in October 2010. The results for gold and its pathfinder metals indicated a strongly anomalous zone that extends west from the trenching and is open (as yet undrilled) further to the west along the soils anomaly. Highlights from ESO’s late 2010 drilling program included:
• DDH10-4 from 14.8 – 15.3 m a high sulphide interval of 0.5 meters with 19.35 g/t gold within a 2.3 meter vein system at approximately true width, with a grade of 3.8 g/t gold; and
• DDH10-5: from 23.4 – 44.6 m of core length with quartz and sulphide veining over 21.2 m grading 2.02 g/t gold.
In order to put this into some context at a time when the price of gold has been increasing very strongly and has gone well outside its typical ranges of price, it should be noted that at the current price of gold, approximately US$ 1750 per ounce, one gram of gold now has a value of approximately US$ 56.
gsfl
14 years ago
Vancouver, Canada, February 3rd 2011: ESO Uranium Corp.
ESO AND URAVAN EXECUTE OPTION AGREEMENT
ESO Uranium Corp. (TSX-V: ESO), (the “Company” or “ESO”) is pleased to announce that it has entered into an Option to Purchase Agreement (the “Option”) with Uravan Minerals Inc. (Uravan).
ESO Uranium Corporation (ESO) has granted Uravan an exclusive Option to acquire 100% interest in their Mathison Lake mining claims (S-108465 and S-108466) (the “MATH project”) in the Athabasca Basin, Northern Saskatchewan. The MATH project totals 8121 hectares and adjoins Uravan’s Outer Ring (OR) project on the north. The OR property is owned 100% by Uravan and located along the Cable Bay shear zone in the Pasfield Lake area.
The Option is exercisable by Uravan over a three (3) year term conditional on: (1) Uravan making a one time cash payment to ESO amounting to Twenty-five Thousand Dollars ($25,000), (2) Uravan issuing an aggregate of 1,000,000 Uravan Common Shares to ESO, in four tranches of 250,000 Common Shares over three years, and (3) Uravan incurring an aggregate exploration expenditure on the MATH project of not less than Two Hundred Thousand Dollars ($200,000). Subject to Uravan fulfilling the terms of the Option, as described above, Uravan will acquire 100% interest in the MATH project and ESO will retain a 2% Uranium Royalty, a 2% Net Smelter Royalty on other non-uranium Mineral Products and a 5% Diamond Royalty. The Option is subject to the approval by the TSX Venture Exchange and any other appropriate regulatory body. When issued, all Uravan Common Shares issuable to ESO shall be subject to a four month hold period from the date of issue.
A surface geochemical program was completed over the OR project area in July 2010. The geochemical data from the Outer Ring sampling program capitalized on new technology developed from a pilot study conducted on the Cigar West uranium deposit (Cigar West Study) 1. The Cigar West Study was a collaborative applied research program conducted by Uravan and QFIR (Queen’s Facility for Isotope Research) in 2009 over a known high-grade uranium deposit. The study was designed to develop new surface geochemical techniques that can better identify bedrock sources of uranium mineralization at greater depths. This research clearly identified distinctive elements and isotopic compositions that have been mobilized from the deposit to the surface media from depths >450 meters. A similar surface geochemical survey is planned for the MATH project in early June 2011.
On behalf of the Board of Directors of ESO Uranium Corp.
“Anthony Harvey”
Chairman, President, CEO
HowardHughs
16 years ago
Oct 08, 2008 15:21 ETESO Options Uranium Properties in Utah
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2008) - ESO Uranium Corp. (TSX VENTURE:ESO)(FRANKFURT:E2G) ("ESO") is pleased to report that an option agreement has been made with a private company registered in Utah to acquire claims and State leases in two blocks in Grand County, Utah. The property is comprised of approximately 19,200 acres (7,800 hectares) of claims and State Leases. Utah is one of a few U.S. States that has a productive history of uranium and other mining and has been miner friendly due to the past success and efforts of Government and Industry.
The option agreement calls for ESO to assume costs for BLM and State fees for the mineral claims and leases that form the property in an initial amount of approximately $55,000 and to issue 200,000 shares, subject to regulatory approval, and make other payments and a further issuance of shares according to the following schedule:
- On or before the Year 1 and 2 anniversaries, pay US $50,000 in each year and on or before the Year 3 anniversary make a final payment of US $100,000.
- Subject to regulatory approval, ESO shall issue to the vendor 300,000 common shares on or before January 1st 2009 and a final 500,000 common shares on or before January 1st 2010.
- ESO also has made a commitment for work expenditures on the property of US $300,000 in 2009, US $400,000 in 2010 and US $500,000 in 2011 in order to complete the exercise of the option.
This will earn ESO a 100% undivided interest in the property subject to a 5% royalty for uranium produced from the property and a 2% net smelter royalty for any other metals or mineral products from the property.
ESO has made a commitment to make an initial evaluation of one or more wells, drilled for oil, that recorded a strongly anomalous gamma log intervals of up to 100 feet (30 meters) thickness in a permeable, water saturated sandstone formation. If the grade of uranium in that interval is sufficiently high to consider recovery by in situ leaching, ESO will proceed with further drilling to try to define a resource of comparable grade sufficient to justify the capital expenditure for an extraction plant. Several other wells in the area of the claims have intersected the same formation with similarly anomalous gamma logs. This suggests a significant horizontal or tabular shape to the mineralization rather than the more irregular roll front type deposit.
The deposit type sought is similar to some of the world class Kazakstan deposits which are hosted in permeable sandstones on the margins of oil and gas fields in which the hydrocarbons can act as widespread reductants to cause the deposition of the uranium from solution. Sour gas with its hydrogen sulphide component that is found in some fields would be a very strong reductant for such a depositional system.
ESO is a Canadian junior mineral exploration company focused on uranium exploration in the premier world uranium production district of the Athabasca Basin, Saskatchewan and also has interests in lower cost exploration projects in the Nevada and Utah. For further information about the company's exploration properties please visit our website at www.esouranium.com.
Prepared by B. Ainsworth P.Eng BC, a Qualified Person for this project.
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.
Forward Looking Statements: Statements contained in this news release that are not historical facts are forward looking statements, which are subject to a number of known and unknown risks uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results levels of activity, performance or achievements.
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release.
For more information, please contact
ESO Uranium Corp.
Robert (Bob) Meister
(604) 629-0293 or Toll Free: 1-866-629-8368
(604) 684-9365 (FAX)
Email: info@esouranium.com
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HowardHughs
16 years ago
Sep 22, 2008 12:42 ETESO Completes Phase One Program on the Marietta Uranium Project in Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2008) - ESO Uranium Corp. (TSX VENTURE:ESO)(FRANKFURT:E2G) ("the Company"), reports that radon, radiometric and ground geophysical surveys have been completed on the Marietta Project in Mineral County, Nevada. The approximately 2,400 acre (970 hectare) property now comprises 116 claims under option from Western Geoscience Inc. and Kleinebar Resources Inc.
The radon and radiometric surveys were completed concurrently at over 500 sample locations on a 200 m by 100 m grid across the entire property. Corresponding radon and radiometric anomalies were discovered on the flank of a granitic intrusive and the piedmont sand and gravel beneath it. Anomalous radon flux values reached up to 19pCi/l/cu.m./sec compared to a background of 1-2 pCi/l/cu.m./sec. Anomalous radiometric values were recorded up to 611 cps (total counts) on surface sample sites using an Exploranium GR-110 scintillometer. The scintillometer readings were off-scale (greater than 9999 cps) in historical adits and workings on the property.
Radon and radiometric anomalies in the granitic rocks will be followed up with geological mapping, detailed prospecting and rock sampling. Anomalies in the pediment sands and clays flanking an enclosed basin indicate a potential for calcrete uranium deposits such as the Yeelirrie deposit in Australia, and Langer Heinrich deposit in Namibia. The company plans to conduct a shallow drilling program to test these anomalies.
The approximate 12 km line ground geophysical survey located several electro potential anomalies corresponding to some radon and radiometric anomalies. A strong electro potential anomaly was detected about 150 meters down slope from the Silver Moon Adit, potentially indicating a previously unknown extension of this uranium bearing vein structure that was mined at a small-scale in the 1950's. Four drill pads from an earlier exploration effort were located in an area 200 meters south of the Silver Moon and Silver Moon adits and close to a range fault that lies along the NE - SW trending contact of the granitic rocks. A 1.5 m chip sample taken earlier across the Silver Bell shear, in an adit and upslope from the drill sites, returned a value of 0.39% U3O8.
For reference, the current spot price quoted by UxC.com for uranium oxide is US$62.00 per pound of U3O8, compared to the June, 2008 low of $56/lb; long term contracts are reported to be considerably higher in price. 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.
ESO is a Canadian junior mineral exploration company focused on uranium exploration in the premier world uranium production district of the Athabasca Basin, Saskatchewan and other areas with lower cost exploration targets with high uranium potential. For further information about the company's exploration properties please visit our website at www.esouranium.com.
On behalf of the Board of Directors of ESO Uranium Corp.
Ben Ainsworth, Vice President, Exploration, Qualified Person for this work.
Please refer to the ESO Uranium website for further and updated information.
Forward Looking Statements: Statements contained in this news release that are not historical facts are forward looking statements, which are subject to a number of known and unknown risks uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results levels of activity, performance or achievements.
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release.
For more information, please contact
ESO Uranium Corp.
Robert (Bob) Meister
(604) 629-0293 or Toll Free: 1-866-629-8368
(604) 684-9365 (FAX)
Email: info@esouranium.com
Website: www.esouranium.com Click here to see all recent news from this company Privacy Statement | Terms of Service | Sitemap |© 2009 Marketwire, Incorporated. All rights reserved.
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HowardHughs
16 years ago
Aug 20, 2008 09:05 ETESO Uranium Corp. and International KRL Resources Corp. Sign Agreement for Cluff Lake Area Property, in the West Athabasca Basin, Saskatchewan
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2008) - ESO Uranium Corp. (TSX VENTURE:ESO)(FRANKFURT:E2G), the Company, and International KRL Resources Corp. (TSX VENTURE:IRK) (International KRL) are pleased to announce that the companies have signed an agreement that will set the stage for further exploration on the Cluff Lake area claim staked by International KRL in 2003. Under the agreement International KRL will transfer a further 30% interest in the claim to ESO which shall result in ESO having an 80% undivided interest in the property. ESO shall produce a bankable feasibility study with International KRL having a carried interest until the feasibility study is delivered at which time International KRL will have the choice to take on a 20% participating interest in a new company to operate the production facility or take on a 2% gross over-riding royalty for all uranium mineral products and a 2% net smelter returns royalty for all other metals. ESO will return all of its interest in any of the claim to International KRL upon a decision by ESO to terminate work thereon.
The International KRL claim lies within the Carswell Dome structure adjacent to the mining lease of the former producer, Cluff Lake, which mined 65 million pounds of uranium from shallow deposits with open pits and near surface underground operations. The deposits had an average grade of about 2.5% U3O8 (5 lbs per s.ton) with significant gold byproduct.
Earlier work by Amok/Mokta on the International KRL Claim indicated the presence of radioactive boulder trains. These included a boulder with an assay of 16.9% U3O8 and 2.9 g/t gold on the claim which is "up-ice" from the uranium orebodies mined on the adjacent Cluff Lake Mine lease. The ice movement dragged outcropping materials at the ice-bedrock interface towards the southwest from a shallow source to the northeast. Work carried out by ESO included airborne and ground geophysical surveys and radon surveys. These indicated important conductors and a magnetic structure that have not been drill tested in earlier work.
This area will be a subject of a high priority for the next phase of work.
For reference, the current spot price quoted by Uxc.com for uranium oxide is
US$64.50 per pound of U3O8, up from the June, 2008 low of $56/lb; 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.
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.
The TSX 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.
For more information, please contact
ESO Uranium Corp.
Robert (Bob) Meister
(604) 629-0293 or Toll Free: 1-866-629-0293
(604) 684-9365 (FAX)
Email: info@esouranium.com
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http://www.marketwire.com/press-release/Eso-Uranium-Corp-TSX-VENTURE-ESO-891592.html
HowardHughs
16 years ago
Aug 11, 2008 09:00 ETESO Uranium and Logan Resources Ltd. Sign Agreement for Cluff Lake Area Property, in the West Athabasca Basin, Saskatchewan
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2008) - ESO Uranium Corp. (TSX VENTURE:ESO)(FRANKFURT:E2G), the Company, and Logan Resources Ltd. (TSX VENTURE:LGR) (Logan) are pleased to announce that the companies have signed an agreement that will set the stage for further exploration on the Cluff Lake area claims staked by Logan in 2003. Under the agreement Logan will transfer a further 30% interest in the claims to ESO which shall result in ESO having an 80% undivided interest in the property. ESO shall produce a bankable feasibility study with Logan having a carried interest until the feasibility study is delivered at which time Logan will have the choice to take on a 20% participating interest in a new company to operate the production facility or take on a 2% gross over-riding royalty for all uranium mineral products and a 2% net smelter returns royalty for all other metals. ESO will return all of its interest in any of the claims to Logan upon a decision by ESO to terminate work thereon.
The Logan claims lie within the Carswell Dome structure about 12 kms north of the former producer, Cluff Lake, which mined about 65 million pounds of uranium from shallow deposits with open pits and near surface underground operations. The deposits had an average grade of about 0.73% U3O8 (14.6 lbs per s.ton) with significant gold byproduct.
Drilling was carried out by ESO in 2006 on the Gorilla Lake zone where work in 1981 by Amok had returned drill core values in their CAR 425 drill hole of 0.89% U3O8 (17.8 lbs/s.ton) over 2.6 meters of core length.
The ESO holes encountered extensions to the known mineralization with two adjacent holes reporting as:
CLU #01 with 0.46% U3O8 (9.2 lbs/s.ton) over 1.5 meters from 174.0 to 175.5 meters drill interval.
CLU #07 had two mineralized intervals. The upper interval from 153 meters to 160 meters (7 meters of drill interval) returned 0.17% U3O8 (3.4 lbs/s.ton), including 0.82% U3O8 (16.4 lbs/s.ton) over 1 meter. The lower interval assayed at 0.2% U3O8 (4 lbs/s.ton) over 2.0 meters from 175.0 meters to 177.0 meters.
The measured intervals quoted here are not necessarily equivalent to true widths as the attitudes of the mineralization are not yet known.
For reference, the current spot price quoted by Uxc.com for uranium oxide is US$64.50 per pound of U3O8, up from the June, 2008 low of $56/lb; 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.
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.
The TSX 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.
For more information, please contact
ESO Uranium Corp.
Robert (Bob) Meister
Corporate Communications
(604) 629-0293 or Toll Free: 1-866-629-0293
(604) 684-9365 (FAX)
Email: info@esouranium.com
Website: www.esouranium.com Click here to see all recent news from this company Privacy Statement | Terms of Service | Sitemap |© 2009 Marketwire, Incorporated. All rights reserved.
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1-800-774-9473 (US) | 1-888-299-0338 (Canada) | +44-20-7562-6550 (UK)
http://www.marketwire.com/press-release/Eso-Uranium-Corp-TSX-VENTURE-ESO-887907.html
HowardHughs
16 years ago
Aug 05, 2008 14:35 ETESO Update for Athabasca Basin Uranium Properties, Saskatchewan
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2008) - ESO Uranium Corp. (TSX VENTURE:ESO)(FRANKFURT:E2G) ("ESO") is pleased to provide an update on exploration at Athabasca Basin properties, Saskatchewan. All these properties are within the Athabasca Basin of northern Saskatchewan, the location of several of the highest grade uranium deposits in the world and source of almost 30% per cent of the world's mined uranium production. The location of the properties are shown on maps located at www.esouranium.com. Processing and interpretation of data from the airborne and ground surveys has identified areas for further drill testing in the Hook Property, in the south central part of the Athabasca Basin, the Cree Property on the east side of the Athabasca Basin, and the Hatchett Lake claims on the northeast edge of the Athabasca Basin.
ESO / Hathor Exploration Ltd (Hathor) (TSX:HAT) 50%-50% Joint Venture Property, Cluff Lake
The property adjoins the northern boundary of Areva Resources Canada Inc's (Areva) Cluff property. The now depleted uranium deposits at Areva's Cluff property produced sixty two million pounds of U3O8 between 1980 and 2002 from several open pit and shallow underground mines including: Janine, Claude, Dominique-Peter and the D deposits. The Shea Creek uranium deposit now being explored by Areva and UEX is twenty kilometres to the south of the property.
A program of radon in soil geochemical surveying, geological evaluation and 4,796 metres of core drilling in thirty four holes of a planned 100 hole programme was completed in November 2007 at the ESO / Hathor joint venture property in the Cluff area of the western Athabasca basin. The drill programme was stopped to meet other priorities of the joint venture partners.
Drilling tested for uranium mineralization associated with radon in soil anomalies and electromagnetic conductors near the prospective contact between garnetiferous, partly graphitic pelitic gneisses and quartzo-feldpathic gneisses extending northerly from the uranium deposits previously mined at Cluff.
Anomalous radon zones in soil were delineated in three areas and drilling intersected strongly anomalous radioactivity in four holes within hematite and carbonate altered quartzo-feldspathic gneisses within one of these areas.
Cree Property
The wholly owned Cree property is within the western margin of the highly prospective Wollaston Trend and straddles the Cable Bay Shear and prospective belts of northeasterly striking magnetic lows and associated conductors.
Exploration at the Cree Property is being supervised by MPH Consulting Ltd, Toronto, a consulting company with many years uranium exploration expertise.
Exploration carried out for ESO has identified at least six areas containing Athabasca sandstone boulders with strongly anomalous boron and illite clay content. This type of alteration is often associated with Athabasca unconformity type uranium deposits. Three areas with anomalous radon were located coincident with this alteration within prospective magnetic lows with associated conductors that run parallel to the Cable Bay Shear system. This sector of the Cable Bay Shear is five kilometers north-northeasterly of historic drill hole CR-08 which intersected anomalous uranium values close to the unconformity.
Hatchett Lake Claims
This wholly owned property overlies the unconformity between Athabasca Formation sandstone and basement rocks and in part overlies a northwesterly striking magnetic low with a substantial amount of drilling to the northwest of the property by previous operators. Exploration in 2007 by ESO included Athabasca formation boulder sampling, soil radon sampling and airborne radiometric and magnetic surveying.
A significant radon in soil anomaly was identified that warrants follow-up exploration.
Hook Property
The wholly owned Hook Property is near the southern margin of the western Athabasca Basin. The eastern half of the property overlies three major groups of both Megatem and VTEM conductors within favourable magnetic lows.
Within the northeasterly conductive trend, the Derkson Trend, a hole drilled by a previous operator 10 kilometres south of the ESO Hook property boundary, intersected 0.24 per cent U3O8 over 2.5 metres in basement rocks three metres below the Athabasca Formation unconformity.
ESO drilling tested selected Megatem and VTEM conductors on the Derkson and the Coppin trends in three holes for a total of 1,989 metres. Drill hole EHK-002 tested a break in a narrow Megatem conductor and intersected a fault containing 3,382 parts per million boron and anomalous lead values over 0.30 metres within Athabasca Formation sandstone. Further drilling is required to test the intersection of this fault with the Athabasca Formation sandstone - basement unconformity. A number of targets remain to be tested within the Hook property.
Analytical results at Cree and Hook were performed by SRC Geoanalytical Laboratory, Saskatoon; drill core analyses at the ESO / Hathor Cluff property were performed by Loring Laboratories, Calgary.
The technical data in this release was prepared by Rob Beckett, P.Geo. Chief Geologist for ESO, a qualified person as defined by National Instrument 43-101 and has been reviewed by Mr. Ben Ainsworth P.Eng, Vice President, Exploration for ESO, a qualified person as defined by National Instrument 43-101.
ESO is a Canadian junior mineral exploration company focused on uranium exploration in the premier world uranium production district of the Athabasca Basin, Saskatchewan. For further information about the company's exploration properties please visit our website at www.esouranium.com.
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.
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.
The TSX 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.
For more information, please contact
ESO Uranium Corp.
Robert (Bob) Meister
Corporate Communications
(604) 629-0293 or Toll Free: 1-866-629-0293
(604) 684-9365 (FAX)
Email: info@esouranium.com
Website: www.esouranium.com Click here to see all recent news from this company Privacy Statement | Terms of Service | Sitemap |© 2009 Marketwire, Incorporated. All rights reserved.
Your newswire of choice for expert news release distribution.
1-800-774-9473 (US) | 1-888-299-0338 (Canada) | +44-20-7562-6550 (UK)
http://www.marketwire.com/press-release/Eso-Uranium-Corp-TSX-VENTURE-ESO-886197.html
fringe_remnant
17 years ago
ESO Signs Option Agreement For Nevada Property
A Uranium And Precious Metals Property
ESO Uranium Corp. (TSX-V: ESO) (the "Company") is pleased to announce
that it has signed an option agreement to acquire 36 claims located in
Mineral County, Nevada, known as the Marietta Property, which covers a
uranium bearing granitic intrusive with shear hosted
uranium-copper-silver-molybdenum mineralization. The property is
optioned from Western Geoscience Inc. and Kleinebar Resources Inc. in
consideration for payment of up to $450,000 and the issue of up to
600,000 common shares in the capital of the Company, which are due in
stages over a period of four years. The agreement is subject to the
acceptance of the TSX Venture Exchange.
The Marietta property was first mined for silver copper ores in the
late 1800's. Shear structures up to a few meters in width carrying
bornite and oxide copper were the principal source of ore mined. After
World War II it was discovered that these high grade ores carried
uranium values and were hosted in radioactive granitic intrusive. The
East flank of the intrusive terminates against extensional faulting
that dropped the adjacent shales and volcanic rock down and much of
this regional structure is obscured by piedmont gravels and sands that
lie on the west side of a small salar basin.
A drill campaign, reportedly carried out by Westinghouse in the 70's,
tested the regional structures. Several drill sites were located during
a site visit in 2007. Radioactivity exposed in a 1.5 meter wide shear
in the wall of a short adit above the area of drill sites was chip
sampled across the full width of the shear. The shear zone contained
some oxide copper and no sulphide mineralization was observed.
The values returned from the sample by a multi-element ICP analysis by
ALS Chemex returned 0.33% (6.6 lbs/st) uranium, greater than 1% lead,
0.9% zinc and 0.34% molybdenum. Radioactivity of the host granite was
noted at moderately anomalous levels throughout a 500 meter traverse
along a drill road cut into the granitic host rocks.
The company has staked a further 80 mineral claims in the vicinity of
the Marietta property and plans to conduct an initial programme of
ground radiometric surveys on the property.
For reference, the current spot price quoted by uxc.com for uranium
oxide is US$78 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.
Ben Ainsworth is the qualified person responsible for the technical
disclosure contained in this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
Vice President, Exploration
For corporate communications please contact:
Tom Corcoran or Bob Meister
ESO Uranium Corp.
Vancouver, BC
Phone: (604) 629-0293
Toll Free: 1-866-629-8368
Email: info@esouranium.com
fringe_remnant
17 years ago
ESO And Fission Energy Sign Strategic Joint Venture Agreement
In Patterson Lake Area, South Athabasca Basin, Saskatchewan
=======================================================================
Vancouver, Canada, January 21st, 2008: ESO Uranium Corporation
ESO Uranium Corporation (TSX-V: ESO), the Company, and Fission Energy
Corporation (TSX-V: FIS) (Fission) are pleased to announce that the
companies have signed a joint venture agreement to include claims
staked in late 2007 by the companies on the southern extension of their
Hook Lake and Patterson Lake claims. The joint venture is a 50%-50%
participation by the companies and includes 4 claims (approximately
4770 hectares) on the southern margin of the Athabasca Basin in the
Broach Lake - Patterson Lake area. The area is accessible by road and
close to several established bush camps.
A Megatem airborne magnetic and deep penetrating electromagnetic survey
of 167 line km was completed over the claims by Fugro Airborne Surveys
in December, 2007 to cover southerly extensions of electromagnetic
conductors identified by earlier work in basement rocks underlying the
Athabasca sedimentary basin to the north. The identified conductors are
shown in a Saskatchewan Geological Survey compilation to extend SSW
onto the Joint Venture property in a band of conductors referred to as
the Carter Corridor. The Carter Corridor has been under active
exploration by the Purepoint Uranium Group working on the contiguous
Hook Lake project which is under option from Cameco and Areva.
The results of the recent Megatem survey are being processed and will
form a basis for developing ground targets for further work by the
Joint Venture in 2008. Target depths for uranium mineralization are
expected to be shallow (less than 300 meters depth) in this area which
has some overlapping cover of sediments of the Prairie sedimentary
basin.
For reference, the current spot price quoted by uxc.com for uranium
oxide is US$89.50 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
sumisu
18 years ago
ESO permits granted for 100 hole drill programme for Cluff Lake uranium properties
Thursday March 22, 6:36 pm ET
VANCOUVER, March 22 /CNW/ - ESO Uranium Corp. (ESO.TSX-V), the Company, is pleased to announce that permits have been granted for the programme of reverse circulation and/or percussion drilling on properties optioned from Hathor Exploration Limited (HAT.TSX-V) and International KRL Resources Corporation (IRK.TSX-V) in the Cluff Lake area of the Athabasca Basin, Saskatchewan. The drilling of approximately 10,000 meters in 100 holes is planned for the 2007 programme, with a budgeted cost of over $1,500,000. The claims adjoin the Cluff Lake mining lease of AREVA, the world's largest integrated uranium company and successor company to the former mine operators.
The Cluff Lake mines, mostly shallow, open pit operations, produced 63 million pounds of uranium oxide with an average grade of 0.93% and significant gold values. Historical work on the Bridle Lake Zone, located 2km north of the Cluff Lake Mines on the Hathor option, included two percussion drill holes completed by the mine operator, AMOK (MOKTA), in 1979. These holes intersected 0.112% uranium oxide over 1.5 meters from 17.2 to 18.7 meters (CAR 316A) and 0.12% uranium oxide over 0.4 meters from 52.6 to 53 meters (CAR 278).
Airborne and ground electromagnetic surveys on the Bridle Lake Zone defined several conductors. These conductors were located immediately up-ice from a radioactive boulder field reported by AMOK to have values up to 0.85% uranium oxide. Radon surveys by ESO have identified two areas of strongly anomalous radon gas in soils, close to the conductors. One of the ESO anomalies correlates with a radon anomaly reported, but not drill tested, by AMOK, the other was in an area previously unsurveyed. Radon gas, a product of the radioactive decay of uranium, is a measure of the presence of uranium at depth in the bedrock.
An additional priority target area for drilling is located on the International KRL option that flanks the east side of the Cluff Mine lease. It includes a radioactive boulder field with values up to 16.9% uranium oxide and 2.9 g/t gold reported in assessment filings of AMOK. The boulder field is close to several conductors indicated by airborne and ground electromagnetic surveys carried out by ESO in 2006.
For reference, the current spot price of uranium is US$91 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 percent value by 20.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
----------------------------
Vice President, Exploration
The ESO Uranium Corp. website is now operational. Please bookmark this site for future reference and ongoing 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.
For further information
For corporate communications please contact: Tom Corcoran or Bob Meister, ESO Uranium Corp., Vancouver, BC, Phone: (604) 629-0293, Email: info@esouranium.com
--------------------------------------------------------------------------------
Source: ESO Uranium Corp.; Hathor Exploration Limited; International KRL Resources Corporation
http://biz.yahoo.com/cnw/070322/eso_permits_granted.html?.v=1
fringe_remnant
18 years ago
ESO Contracts 100 Hole Drill Program for Cluff Lake Uranium Properties
=======================================================================
ESO Uranium Corporation (ESO.TSX-V), the Company, has contracted Derex
Drilling Services Ltd of Armstrong BC, to carry out a program designed
to test near surface targets with reverse circulation and/or percussion
drilling on the optioned properties of Hathor Exploration Inc
(HAT.TSX-V) and International KRL Resources Corporation (IRK.TSX-V).
Approximately 10,000 meters of drilling in 100 holes is planned for the
2007 program on the Cluff Lake properties, with a budgeted cost of over
$1,500,000. The claims adjoin the Cluff Lake mining lease of Areva, the
world's largest integrated uranium company and successor company to the
former mine operators.
The Cluff Lake mines, mostly shallow open pit operations, produced 63
million pounds of uranium oxide with an average grade of 0.93% and
significant gold values. The geological and geophysical signatures of
the Cluff Lake host rocks extend onto these adjacent claims. Historical
work on the Bridle Lake Zone, located 2km north of the Cluff Lake Mine
on the Hathor option, included two percussion drill holes completed by
the mine operator, AMOK (MOKTA), in 1979. These holes intersected
0.112% uranium oxide over 1.5 meters from 17.2 to 18.7 meters (CAR
316A) and 0.12% uranium oxide over 0.4 meters from 52.6 to 53 meters
(CAR 278).
In 2006, ground electromagnetic grids were surveyed on the Bridle Lake
Zone by P. Walcott and Associates to define further the several
conductors indicated by an earlier 2006 airborne Megatem survey
commissioned by ESO. These conductors were located immediately up-ice
from a radioactive boulder field reported by AMOK Ltee to have values
up to 0.85% uranium oxide. Radon surveys by ESO have identified two
areas of strongly anomalous radon gas in soils, close to the
conductors. One of the ESO anomalies correlates with an anomaly
reported by AMOK, the other was in an area previously unsurveyed. Radon
gas, a product of the radioactive decay of uranium, is a measure of the
presence of uranium at depth in the bedrock.
An additional priority target area for drilling is located on the
Int.KRL option that flanks the east side of the Cluff Mine lease. It
includes a radioactive boulder field with values up to 16.9% uranium
oxide and 2.9 g/t gold reported in assessment filings of AMOK. The
boulder field is close to several conductors indicated by airborne and
ground electromagnetic surveys carried out by ESO in 2006.
For reference, the current spot price of uranium is US$85 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
percent value by 20.
oasdihf
18 years ago
ESO Uranium Files NI 43 101 Compliant Report on SEDAR for Mikwam Gold Project, Ontario
19:00 EST Friday, March 02, 2007
Trading Symbol - ESO
VANCOUVER, March 2 /CNW/ - ESO Uranium Corporation ("the Company") ESO-TSX.V announces that it has filed a NI 43 101 compliant report on SEDAR prepared by Caracle Creek International Consulting (CCIC). CCIC managed the 2005-2006 diamond drill program carried out on the Mikwam gold project (100% owned by ESO) in Ontario. Expenditures of over $1.5 million were made to carry out two phases of diamond drilling. Some fill-in and step out drilling was carried out to examine a historical gold resource that is still open to depth and along strike.
The property covers approximately 26,885 acres along the western extension of the Casa Berardi Deformation Zone that extends from the Quebec-Ontario border into Noseworthy and Bradette Townships.
The Casa Berardi Deformation Zone is host to the Casa Berardi West gold mine that Aurizon Mines Ltd has placed into production in Quebec on claims adjoining the Mikwam property. In a Feb. 1st 2007 news release, Aurizon indicated that the new mine would produce 1,092,000 ounces of gold from 4.8 million tonnes during the initial 6 year operating plan with an estimated cash cost of US$250 per ounce. Recent exploration success on the Casa West property indicates that there is still further potential for additional mineralization close to the mine infrastructure.
More than $8 million dollars has been spent on exploration on the Mikwam claims, principally by Newmont Canada Ltd and Royal Oak Mines Ltd. The main target mineralization of this new work is gold veining within a strongly folded iron formation. The work by Royal Oak identified an historical gold resource in this gold veining area, identified as the A8 3200 zone. K. Jensen wrote in his NI 43 101 compliant Technical Review of the Mikwam Property, dated September 29th, 2003: "In an internal report H. Miree noted that the area of the A8 3200 was insufficiently delineated to determine a proven or probable ore reserve calculation. The report indicated that a "geologically inferred resource estimated for this zone is 1,505,000 tonnes (1,657,740 tons) grading 3.21 g/t (0.094 oz/ton), thus the contained gold totals 155,857 oz. This estimate has not been recalculated by the writer and is considered as "exploration information" only and not a "resource" in the terms required by NI 43 101."
The new NI 43 101 compliant report by independent Qualified Persons from Caracle Creek International Consulting Inc (CCIC) includes calculated resources based on conservative computer modeling that are indicated in the following table. The report also indicates that it is estimated that this new "resource estimate can be expanded by a minimum of 35% with infill drilling".
<<
Mikwam A8 3200 Vein Mineral Resource Estimate at 1.0 g/t cut-off
Category Tonnes Gold g/t Contained Ounces
Indicated 238,000 3.23 25,000
Inferred 879,000 2.42 68,000
The statement that the new "resource estimate can be expanded by a
minimum of 35%" suggests that the following potential may be achieved if
the recommended drill program is undertaken:
35% additional
From infill
drilling 390,950 2.59* 32,555
* Weighted average of indicated and inferred grades
>>
The totals above approximate to the non-compliant historical polygonal inferred resource of H. Miree referred to above, however, the reader is cautioned that such totals do not qualify as a Resource under NI 43 101. With gold breaking out to new highs on February 26th 2007 (over US$680/oz), ESO plans to carry out a full review of the digitized data sets generated from the work carried out by CCIC for the purpose of planning the next phase of work.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
---------------------------
Vice President, Exploration
Please bookmark this site for future reference and ongoing 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.
For further information: For corporate communications please contact: Tom Corcoran or Bob Meister, ESO Uranium Corp., Vancouver, BC, Phone: (604) 629-0293, Email: info@esouranium.com
oasdihf
18 years ago
ESO Uranium Corp.'s 2007 Athabasca Basin Work Programme Underway; NI 43 101 Compliant Reports Commissioned
09:25 EST Monday, February 26, 2007
Trading Symbol TSX.V - ESO
Frankfurt - E2G
VANCOUVER, Feb. 26 /CNW/ - ESO Uranium Corp. (ESO:TSX.V), The "Company", has made exploration expenditures to date amounting to over CDN $5.25 million on its uranium properties in the Athabasca Basin, Saskatchewan. A further $ 6 million is budgeted for continuing programmes into 2007. These will include the intensive drilling of near-surface targets at Cluff Lake indicated by the first phase exploration results and follow-up ground and airborne surveys that have been started on the 100% owned Hook claims.
The Company has been carrying out systematic exploration of its uranium projects, including extensive airborne surveys and follow-up surface geophysical surveys, supported by geochemical sampling of boulders and radon surveys in selected areas. Core drilling was carried out on the Cluff Lake area claims under option from Logan Resources Ltd (LGR:TSX.V) that returned grades up to 0.82% (16.4 lbs/s.ton) uranium oxide over 1.0 meters of drill core interval near a historical drill hole that recovered a drill core interval of 0.85% (17 lbs/s.ton) uranium oxide over 2.5 meters. (See news release of date 2nd May 2006)
ESO has engaged MPH Consulting LTD, an independent firm with considerable experience in Basin, to complete NI 43 101 compliant reports for all of its uranium properties in the Athabasca Basin, Saskatchewan. The reports will cover the three blocks of properties located in the West Basin, the South Central Basin and the East Athabasca Basin:
<<
- The Cluff Lake area in the West Basin is the most advanced exploration
block with over 169,000 acres adjoining the mining lease of the former
Cluff Lake producer owned by Areva (past production of more than 63
million pounds of uranium oxide and significant gold recovery which
would have a gross value today of over $4.5 billion). The properties
include those under option from Logan Resources Ltd (LGR:TSX.V),
International KRL Resources Corp. (IRK:TSX.V), and Hathor Exploration
Ltd (HAT:TSX.V), and also the 77,000 acres of 100% owned claims of
ESO, in the Cluff Lake area;
- The 100% owned Hook and Mandin properties in the south central part of
the Basin include nearly 192,000 acres covering northern extensions of
geological, geochemical and geophysical targets on the Areva, Cameco,
UEM Inc and Purepoint Uranium Group (PTU:TSX.V) claims that are under
active investigation;
- The 100% owned Cree Project on the East side of the Basin is comprised
of approximately 625,000 acres paralleling the geological corridor
that hosts almost 30% of total world uranium production from the
highest grade uranium deposits in the World. Areva, the world's most
important uranium mining and processing company, is actively exploring
claims adjoining the southeast flank of the project.
ESO is well positioned with three levels of exploration activity in its
distinct and highly prospective areas of the Athabasca Basin.
- Drilling is planned for the advanced Cluff Lake properties of Hathor
and International KRL in the first quarter of 2007. The drilling will
be following up on shallow (15 - 150 m depth) uranium and gold
mineralization previously located, and on geochemical and geophysical
targets related to fields of highly radioactive boulders (up to 55%
uranium oxide - news release of 14th September 2006) identified in
earlier exploration reports.
- Drilling is also planned of conductors within possible alteration
targets identified on the Hook Lake claims covering several structures
including the northern extension of the uraniferous Derkson Structure;
- Phase one work in the Cree Project areas, including airborne
geophysical surveys (now underway) and ground surveys will be carried
out by MPH Consulting Ltd. This work will generate data for drill
target definition. Evaluation of exploration reports filed in the 70's
and 80's by competent explorers such as the former Uranerz have
already enabled ESO to identify several favourable geochemical and
geophysical domains that have been selected for follow-up work.
>>
To view a map of the project, please click on the following link: http://files.newswire.ca/494/ESO_Uranium_0226.doc
The Athabasca Basin currently produces almost 30% of the world's uranium supply from the world's richest mines. The geopolitical setting of the Province of Saskatchewan is recognized to be the best jurisdiction in the World for uranium exploration and mine development. This is the result of the long term experience of the Province with the Nuclear Industry.
Government, industry and other stakeholders have diligently taken the opportunity to educate each other to understand the real nature and benefits of the business. The active uranium mines employ a high percentage of Northern Saskatchewan residents in their labour force and this population group has also been involved during each of the previous uranium exploration booms. There is a substantial and informed workforce available within the Province for the exploration and development of uranium projects.
The technical support from government and provincial organizations such as Saskatchewan Research Council affords key scientific infrastructure to assist industry in the difficult task of locating the next generation of very valuable resources in the Athabasca Basin.
For reference, the current spot price of uranium is US$85 per pound of U(3)O(8); An assay reported as 1.0% of U(3)O(8) 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 percent value by 20.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
---------------------------
Vice President, Exploration
The ESO Uranium Corp. website www.esouranium.com is operational. Please bookmark this site for future reference and ongoing 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.
%SEDAR: 00015068E
For further information: For corporate communications please contact: Tom Corcoran or Robert (Bob) Meister, ESO Uranium Corp., Vancouver, BC, Phone: (604) 629-0293, Email: info@esouranium.com
oasdihf
18 years ago
ESO Uranium Corp.: Work Starts on East Athabasca Basin Properties
Wednesday January 10, 5:58 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2007) - ESO Uranium Corp. ("ESO" or "the Company") (TSX VENTURE:ESO - News; FWB:E2G) is pleased to announce the engagement of MPH Consulting Ltd. (MPH) as the core contractor for its work programmes covering the Cree, Hatchet and Peterson properties it acquired in 2005 in the East Athabasca Basin. The Company holds 58 mineral dispositions in this part of its Athabasca holdings with a total area of approximately 624,722 acres (252,816 hectares) in 4 noncontiguous blocks.
The properties adjoin a prospective belt that produces 28% of current world uranium production of 108 million lbs U3O8. The Athabasca uranium deposits have grades substantially higher than world average; the two dozen or so known deposits within the Basin have average grades of over 3% U3O8. The two largest deposits, Cigar Lake and McArthur River have average grades of 20% and 24% respectively. For context, 1% U3O8 is equivalent to 20 pounds of contained U3O8; the current spot price for U3O8 is reported in Ux Weekly as US$72 per pound which translates into a gross value of US$144 for 0.1% U3O8 or US$1440 for 1% U3O8 for each ton of mineralization.
To view the map attached to this release please click on the following link: http://www.esouranium.com/s/Athabasca.asp?ReportID=116984
The Athabasca Basin uranium deposits are generally of unconformity type with uranium mineralization occurring within elongate bodies at or close to the unconformable contact between the upper Athabasca sandstones and basal metasedimentary rocks. Uranium mineralization may extend above and below the unconformity and is often associated with characteristic alteration plumes around the mineralization.
The area was selected by ESO because of its proximity to the important producer belt and the occurrence of a number of uranium showings associated with structures or electrical conductors located on or on strike with the properties. Assessment work compilation of the area carried out by ESO indicates several targets for further exploration.
The northern sector of the Cree properties was flown in 2006 for the Company with Megatem II and airborne magnetic surveys by Fugro Geophysics and several additional areas of interest have been identified. MPH has started work continuing the development of a full data base from the earlier work carried out in the area. MPH brings to the project a considerable corporate history from its own extensive experience in the basin during the surge of exploration carried out there during the 1970's uranium price rise.
Further airborne surveys are planned for the southern blocks of the Cree properties, to be carried out with the longer daylight hours after January, 2007. Ground work, radiometric surveys and detailed geophysical surveys will be used to follow up over areas of special interest as indicated by the airborne surveys and drill targets will be selected for a fall/winter drilling campaign in 2007.
About ESO Uranium Corp.
ESO Uranium Corp., a Vancouver based mineral resource company exploring for uranium in the Athabasca Basin in Saskatchewan and is developing gold resources on its 100% owned Mikwam gold property in the Casa Berardi deformation zone in Ontario.
Benjamin Ainsworth, PEng, is the Qualified Person responsible for this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
B.Ainsworth, PEng BC, Vice President, Exploration
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. The historical information contained in this news release was obtained from reports prepared prior to the implementation of NI 43-101. Though the Company has no reason to doubt the accuracy of this information, readers should use caution when considering such information and should not place undue influence upon such.
The TSX 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.
fringe_remnant
19 years ago
News Release - Wednesday, May 17, 2006
ESO Uranium Continues to Strike Gold at Mikwam: 6.32 g/t Gold over 5.6 Meters
Vancouver, Canada, May 17th, 2006: ESO Uranium Corp. ("ESO" or "the
Company") announces that drill hole# 07 on its Mikwam project, sited 25
meters east of drill hole# 03 which was reported in the Companies April
24th, 2006 news release, has returned gold grades in 2 intervals over
substantial intersections of mineralization. The 100% owned Mikwam
claims are located along the Casa Berardi Deformation Zone in
northeastern Ontario. Seven holes were completed for a total length of
2,437 meters (8,042 feet) in the first phase of work. Assays have been
received for a further two holes and the significant intersections are
reported below (all units metric except where indicated in brackets).
The true widths of these intersections are not yet known.
-----------------------------------------------------------
DDH # Easting Northing Elevation Azimuth Dip
-----------------------------------------------------------
06-06 592429 5482922 284 270 -55
06-07 592229 5483090 284 90 -45
-----------------------------------------------------------
-----------------------------------------------------
To - From Interval Grade
meters g/t
-----------------------------------------------------
06-06 0-350 350 Not Anomalous
06-07 54-59 8 Anomalous
73.6-78.6 5 5.42
Includes 74.6-75.6 1 22.50
227.4-233 5.6 6.32
-----------------------------------------------------
The Phase I drilling is showing results generally consistent with
earlier drilling by Royal Oak and Newmont Canada in the A8 vein area.
Drill hole 06-06 was drilled from the east towards the area of drill
holes 06-03 and 06-07 which indicates that mineralization is plunging
towards the west or northwest.
The Phase II drilling is underway with helicopter support and the first
two holes in that programme are completed and samples have been
submitted for assay.
The successful Casa West project of Aurizon Mines is also within the
Casa Berardi Deformation Zone and lies about 15 kms east of the current
Mikwam property boundary. Staking activity has picked up in the area to
the west of the ESO claims. The ESO claims now extend to the Quebec
border and the western boundary of the Aurizon Mines holdings in that
Province. The additional claims were acquired because ESO recognized
that geology does not respect provincial boundaries and the open ground
covered some recorded gold showing within the rocks of the Casa Berardi
Deformation Zone.
ESO will continue to report on the remaining samples submitted for
assay as they are completed.
The data set used here has been presented to ESO by Caracle Creek
International Consultants Inc. (CCIC) who are assisting the Company in
the drill programme. The data generated in the ongoing programme will
be used by CCIC, independent consultants to ESO, to complete a resource
estimate that is compliant with NI 43 101. Drilling was re-started on
24th April 2006, with an initial focus on the A8 vein area for resource
estimate data. In addition to this drilling, several targets are being
reviewed for drilling on the recently acquired contiguous claims.
oasdihf
19 years ago
ESO Uranium’s Tom Corcoran Tells the Company’s Success Story at Free-Market Network (FMNN) eRadio
Los Angeles -
(EMAILWIRE.COM, May 11, 2006) Vancouver, Canada – ESO Uranium’s Corporate Communications Director, Tom Corcoran, today held an interview with Marshall Moore of FMNN eRadio to discuss the background, product, management, strategic position and the future of the company. ESO, according to Mr. Corcoran, stands for Energy Solution and Opportunities. The company is one of the largest landholders of Athabasca Basin -- the “global hotspot” for uranium.
To get an update of ESO Uranium’s success story, listen to the complete interview at FMNN eRadio: http://www.freemarketnews.com/eRadioLaunch.asp?rid=613.
About ESO Uranium Corp.
ESO Uranium Corp., a Vancouver based mineral resource company, is actively exploring for uranium in the Athabasca Basin in Saskatchewan. The Company controls in excess of 860,000 acres of mineral claims in the Athabasca Basin making it one of the largest land holders in the world’s most prolific uranium producing region.
ESO also controls the Mikwam gold project totaling approximately 11,491 acres located along the western extension of the Casa Berardi deformation zone in Ontario. The Company is well financed with over $6 million in its treasury.
On behalf of the Board of Directors of ESO Uranium Corp.
“Jonathan George”
Jonathan George, President & CEO
For corporate communications, please contact Investor Relations at ESO Uranium Corp. Phone: (604) 629-0293; Email: tcorcoran@esouranium.com.
Web site: www.esouranium.com.
The TSX 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. The historical information contained in this news release was obtained from reports prepared prior to the implementation of NI 43-101. Though the Company has no reason to doubt the accuracy of this information, readers should use caution when considering such information and should not place undue influence upon such.
###
This press release was issued through GroupWeb EmailWire.com. For more information on press release distribution, go to http://www.emailwire.com.
Online Source:
http://losangeles.dbusinessnews.com/shownews.php?newsid=75678&type_news=latest
oasdihf
19 years ago
ESO Intersects Uranium in its Initial Drill Program at Cluff Lake Project, Athabasca Basin, Saskatchewan.
Tuesday May 2, 3:34 pm ET
VANCOUVER, May 2 /CNW/ - ESO Uranium Corp. (ESO or "the Company") ESO:TSX-V is pleased to announce that uranium mineralization has been intersected in its initial drill program carried out on its Cluff Lake project located in the western Athabasca Basin in Saskatchewan. ESO holds an option to earn a 50% interest in the claims underlying the Gorilla Lake zone which comprise 18,661 acres pursuant to a letter agreement with Logan Resources Ltd. (TSX-V:LGR - News).
SRC Geoanalytical Laboratories of Saskatoon, performed the sample preparation and uranium and multi-element analysis with the following results:
Hole CLU-07 intersected two zones of uranium mineralization. One zone intersected 0.17 per cent U3O8 over 7.0 metres from 153.0 to 160.0 metres, including 0.82 per cent U3O8 over 1.0 metre. The second zone contained 0.20 per cent U3O8 over 2.0 metres from 175.0 to 177.0 metres.
Hole CLU-01 intersected 0.46 per cent U3O8 over 1.5 metres from 174.0 to 175.5 metres.
The uranium mineralization discovered in drilling at Gorilla Lake is an encouraging development for these reasons:
1) Gorilla Lake is within a broad magnetic low with associated Megatem
conductors representing prospective rocks favorable for uranium
deposits extending from the former Cluff Lake mine eleven kilometers
northerly to Gorilla Lake.
2) Both the Cluff Lake uranium deposits and Gorilla Lake uranium
mineralized drill intersections are within a belt of prospective rocks
at or near the Athabasca sandstone contact.
3) Graphitic meta-sediments, electromagnetic conductors and hematitic and
clay alteration similar to that hosting and adjacent to other
Athabasca basin uranium deposits exist at Gorilla Lake.
These new step out holes confirm the presence of uranium in the area of hole Car 425, drilled in 1981, which intersected about 0.85% U3O8 over 2.5 metres.
The uranium mineralization in drill holes CLU-01 and CLU-07 is associated with a virtually untested structure extending over at least 700 metres. This structure represents a prime target for a continued drill program which ESO plans to commence as soon as possible after spring breakup.
ESO has interests in over 860,000 acres of mineral claims in the Athabasca Basin in Northern Saskatchewan, including the Cluff Lake project which is comprised of 170,000 acres adjacent to the former Cluff Lake mine. The Cluff Lake mine produced 65 million pounds of U3O8 at a grade of about 2.5 per cent U3O8 with the significant by-product gold.
In addition, the Cluff Lake property is situated 11 km north of the Shea Creek deposit which is currently being developed by a joint venture between UEX Ltd and Cogema Resources Inc.
As indicated by Megatem conductors within a north-westerly striking magnetic low, the prospective rock types hosting the Shea Creek deposit appears to extend through the western part of ESO's Cluff Lake property.
The Cluff Lake property location with the Gorilla Lake drill hole locations are available at: http://files.newswire.ca/494/Gorilla_Lake.pdf
About ESO Uranium Corp.
The Company is a junior resource issuer with uranium interests in the Athabasca Basin and gold interests at the Mikwam project in eastern Ontario.
The Athabasca Basin is host to major uranium deposits and mines and produced twenty nine per cent of world uranium production in 2004.
The Mikwam project, consisting of 21,380 acres, is within the Casa Berardi Deformation Zone which hosts the Casa Berardi gold deposit currently being explored by Arizon Mines Ltd, fifteen kilometers east of Mikwam.
ESO reported in a previous news release, dated 24th April 2006, an intersection of 4.1 grams per tonne gold over 19 metres. The Mikwam claims are held subject to certain over-riding royalties.
Rob Beckett, P.Geo. is a Qualified Person as defined by National Instrument 43-101 and is responsible for the technical content of this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
"Robert Beckett"
------------------------
Chief Geologist
The TSX 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. The historical information contained in this news release was obtained from reports prepared prior to the implementation of NI 43-101. Though the Company has no reason to doubt the accuracy of this information, readers should use caution when considering such information and should not place undue influence upon such.
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