newz for Trigon...
Trigon Expands Portfolio of Uranium Properties
KELOWNA, BC, Jan. 9, 2007 (Canada NewsWire via COMTEX News Network) --
Trigon Uranium Corp. (TSX-V:TEL) announced that it has acquired additional highly prospective claims at its south east Utah Wray Mesa property which is located in the well-known La Sal-La Sal Creek uranium district. The property was expanded by over 20 per cent to 604 claims or 12,000 acres. For a map showing the location and extent of the Wray Mesa property, please visit files.newswire.ca
Sidney Himmel, the President and CEO of Trigon Uranium Corp. stated: "We have now established a satisfactory base of properties in Utah. We intend to commence drilling programs in respect of these properties during the first quarter of 2007. With the current development assets in place, our business plan now includes further expansion in United States South West in the various states located in the Colorado Plateau and Rocky Mountain and Intermontane Basins. It is definitively our intention to become a vertically integrated member of the uranium industry and this will include a growing portfolio of high quality exploration and development projects, acquired with a variety of business models. We are committed to expanding the depth of our uranium business relationships in Utah."
The Wray Mesa property is located adjacent to the Pandora Mine of Denison Mines Corp. in the La Sal district, where uranium deposits occur in the 150 Million year old Salt Wash sandstones of the Morrison formation. In total, the Salt Wash sandstones in the United States have produced more than 85 Million pounds of U(3)O(8). During the previous uranium cycle the La Sal-La Sal Creek district was second in production only to the Uravan Mineral Belt.
The uranium deposits at La Sal are generally concentrated in an east-west trending belt, the La Sal channel, which is at least 12 miles in length. The La Sal channel is similar to other Salt Wash channels, although it displays some better developed characteristics such as, coarse grain size, an unusual thickness and a relatively straight configuration, although the Pandora and Mike ore bodies have been interpreted to be hosted by one of several southward trending channel extensions. The La Sal district is the host of important uranium deposits including the Snowball, Mike, Hecla, and Beaver mines as well as the Pandora mine, which currently is the district's only active producer. The average ore grade in the La Sal district is 0.32% U(3)O(8) (6.4 lbs U(3)O(8) per ton), which is the highest known average grade of any of the Salt Wash mining districts.
The Wray Mesa property occupies a northwest-trending area approximately nine miles long and 2.5 miles wide. Uranium was discovered on the property in 1969, when Bokum Corp. carried out a limited drilling program. Bokum Corp. intersected uranium intersections with grades of up to 0.15 per cent U(3)O(8) at depths averaging 230 feet below surface. To the east, the Wray Mesa property is adjoined by a property with the Dylon, Ajax, and Whiskey uranium deposits of Homeland Uranium Inc.
About Trigon Uranium Corp.
Trigon Uranium Corp. is a uranium exploration and development company focused on the known deposits of the south-western United States, a region that has produced over one billion pounds of uranium. Trigon has a highly-qualified team of uranium exploration experts to direct its efforts at its Marysvale, Henry Mountains and Wray Mesa projects of southern Utah as well as elsewhere in North America. Trigon has 41,930,326 shares outstanding and its stock trades on the TSX Venture Exchange under the symbol "TEL".
For further information, please visit www.trigonuraniumcorp.com
Should you wish to receive Company news via email, please email ana@chfir.com and specify "Trigon News" in the subject line.
SOURCE: Trigon Uranium Corp.
Sidney Himmel, President and Chief Executive Officer, Trigon Uranium Corp., Tel: (250) 317-3624, Email: sidney.himmel@trigonuraniumcorp.com; Jeanny So, Broker Relations Specialist, CHF Investor Relations, Tel: (416) 868-1079 x225, Email: jeanny@chfir.com
|
