Western Uranium Provides Baza Project Update
06 April 2010 - 10:30PM
Marketwired
Western Uranium Corporation (TSX VENTURE: WUC) ("Western" or "the
Company") is pleased to provide an update on the Baza gold-copper
project located in southeastern Spain midway between Granada and
Almeria. Drilling of approximately 3000 meters of core is scheduled
to commence mid-April and will provide a first pass drill test of
two areas: Cerro del Gallo and El Valenciano. This project
represents a large regional exploration play covering an area 25
kilometers in strike by 10 kilometers in width. Extensive anomalous
gold and copper is found at surface in shears and veins exposed in
historical small scale iron mines. Anomalous mineralization is also
found in outcrops throughout the project in areas where no evidence
of past small scale mining is present. Despite having numerous
widespread surface indications of anomalous copper and gold
mineralization, the area has never been explored using modern
exploration techniques. Since entering into the earn-in agreement
with AuEx Ventures Ltd. in October 2009, Western has focused
exploration on identifying mineralizing controls on what is an
enigmatic geologic setting. Various workers have suggested the area
exhibits features found associated with iron-oxide-copper-gold
(IOCG) systems, yet other workers suggests the style of
mineralization is related to an epithermal system.
To date, 133 rock and channel samples have been collected over
the area at the Cerro del Gallo target. Forty-four samples have
returned values greater than 1 g/t gold with a high of 19 g/t and
51 have returned over 0.5 g/t gold. Of the 133 samples, 87 returned
values greater than 1000 ppm copper and 47 yielded values greater
than 5000 ppm copper. At El Valenciano values for 39 rock and
trench samples have been received from this area. Of these samples
17 have returned values greater than 0.1 g/t gold with eight
samples returning greater than 0.5 g/t gold. Copper is strongly
anomalous in this location and 20, or over 50% of the samples have
returned values greater than 5000 ppm, with 12 samples returning
over 1.0% copper values.
At Cerro del Gallo (CdG) detailed mapping and sampling along
with ground magnetic and gradient array IP geophysical surveys have
been conducted to assist in identifying mineralizing controls and
selecting drill targets. These geophysical surveys have
successfully highlighted the strike length of known mineralized
structures at CdG and identified two strong magnetic susceptibility
responses two kilometers to the north of known mineralization
Initial interpretation by a contract geophysicist of the gradient
array survey suggests sulfide mineralization may be present in the
surrounding host rocks (schists, quartzites, and siltstones). The
IP response values are above normal values returned for these rocks
and may be attributable to sulfides in concentrations up to 5%. The
samples and ground geophysical surveys are from an area a nine
square kilometer area which represents only one target in the
overall 250 square kilometers covered by the project. Five to six
core holes are planned as a first pass test at Cerro del Gallo with
drilling tentatively scheduled to begin April 12th. Following
drilling at CdG the equipment will be moved to El Valenciano for
drill testing.
El Valenciano is located approximately 2 km to the southwest of
Cerro del Gallo. Due to time constraints only mapping and sampling
have been undertaken at El Valenciano but the area will be covered
by the airborne DIGHEM EM geophysical survey scheduled for May that
will cover the entire 250 square kilometers of the project.
Mineralizing controls at El Valenciano appear to be similar but in
addition to the high angle structures, recent trenching uncovered a
mineralized, low angle structure that is at least 2 meters thick.
Due to the silicification of what may have been a limestone bed,
the backhoe was unable to cut deeper and determine the total
thickness of the altered structure. Samples have been taken from
this trench and submitted for analyses. The significance of a
mineralized low angle structure is the suggestion that stratabound
gold and copper mineralization may also present another type of
target. Work to date has identified mineralization over an area 1km
x 1km that with additional work will likely expand. A five to six
core hole drill test will commence following the completion of the
last drill hole at Cerro del Gallo.
The two areas selected for drilling represent a small portion of
the overall project area and additional geologic mapping and
sampling has continued to identify numerous additional localities
within the project boundary that also warrant drill testing in
future phases of the program. Mapping and sampling 6 kilometers
south-east of the initial drill areas has recently identified an
intermediate-felsic dyke that demonstrates clear evidence of its
association with silicification and copper-arsenic mineralization.
The silicification included thin, open-space fillings of
chalcedonic silica containing copper, iron and arsenic sulfide
specks. The specks of copper and arsenic sulfides are found in both
the altered dyke and in the chalcedonic veins. These veins are
similar in appearance to material found in the throat of epithermal
related systems. Samples from this dyke have been taken and
submitted for geochemical analyses; most results are pending but
one expedited sample yielded 0.97 g/t gold and 0.362% copper.
The extent and persistence of alteration, mineralization and the
fact that this project has not been drill tested continues to
confirm the Company's decision to enter into this agreement with
AuEx Ventures Ltd. to expand into gold and copper exploration.
These opportunities are infrequent in this day and age and it is
rare to find a project of this merit in a country that has been
explored by a number of major companies throughout the years that
has not been subjected to modern exploration techniques.
Review by Qualified Person
The technical content of this news release has been reviewed and
approved by Mr. Douglas Bowden. Mr. Bowden is a Registered
Geologist in the State of Utah and a qualified person as defined by
National Instrument 43-101.
About the Company
Western Uranium Corporation is a mineral exploration company.
The Company has exploration properties in Nevada, New Mexico and in
the Thelon Basin, Nunavut for uranium and has entered into an
earn-in agreement with AuEx Ventures for the Baza gold-copper
project in Spain. The Company has its head office in Vancouver,
Canada; its executive management team is based in Reno, Nevada. The
Company also has a 24% interest in Western Lithium Canada
Corporation (WLC). WLC was a spinout from WUC and began trading on
the TSX Venture exchange July 2008.
On behalf of the Board of Western Uranium Corporation
Pamela J. Klessig, President & CEO
The TSX Venture Exchange has neither approved nor disapproved of
the contents of this press release. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as such term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Contacts: Western Uranium Corporation Pamela Klessig Chief
Executive Officer 775-827-3311 info@westernuranium.com
www.westernuraniumcorp.com
Western Uranium Corp. (TSXV:WUC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Western Uranium Corp. (TSXV:WUC)
Historical Stock Chart
From Jul 2023 to Jul 2024