TRIGON EXPLORATION CANADA LTD.
IS IN PLAY: TEL on Vancouver
Transmitted by CNW Group on : August 24, 2006 07:00
Trigon Kicks Off Uranium Exploration at Marysvale
KELOWNA, BC, Aug. 24 /CNW/ - Trigon Exploration Canada Ltd. (TSXV: TEL)
announced today that field work has commenced at its Marysvale uranium project
in central Utah. The exploration program is based on recommendations from the
technical report "Marysvale Uranium Project, Sevier and Piute Counties, Utah,
USA" ("the 43-101 Report") which has been electronically filed on SEDAR and is
also posted on the Trigon website at
www.trigonexploration.com/marysvale/report.pdf.
The Marysvale uranium project is located in the historic Marysvale Mining
District of south-central Utah. Between 1977 and 1981, extensive drilling by
Minex Uranium and Phillips Uranium resulted in the delineation of an estimated
1.8 million pounds of uranium mineralization within the central one-third of
the Marysvale property. Trigon's initial two-phase exploration program is
intended to at least triple this historical resource.
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Phase 1A of Trigon's Marysvale program will include:
- A targeted radiometric survey, to identify surface anomalies which
are associated with podiform uranium mineralization at depth.
- Targeted magnetic and resistivity surveys, with resulting geophysical
data correlated with data from known areas of uranium mineralization.
- Geological mapping and a geophysical survey over all other areas of
the property.
This will be closely followed by Phase 1B, which will include:
- Approximately 6,000 feet of vertical and inclined reverse circulation
drilling to confirm uranium mineralization and zone geometry.
- Approximately 2,000 feet of inclined, stratigraphic core drilling to
characterize the known mineralized zones, to search for
vertically-inclined vein mineralization, and to provide samples for
leach testing.
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It is anticipated that Phase 1 exploration at Marysvale will be closely
followed by a Phase 2 program featuring over 100,000 feet of reverse
circulation and core drilling, likely to commence in early-2007.
The Marysvale uranium project is managed by Ian Thompson, PEng,,
technical adviser to Trigon and a qualified person, in accordance with NI
43-101. The 43-101 Report was prepared for Trigon by Stuart Havenstrite,
C.P.G., and Lisa S. Hardy, Lic.Geol.
About Trigon Exploration Canada Ltd.
Trigon Exploration Canada Ltd. is a uranium exploration and development
company focused on the advanced-stage Marysvale Project in central Utah and
the acquisition of further uranium exploration and development properties in
the USA south west. Historically, the state of Utah has produced over one
billion pounds of uranium. Trigon has recruited a highly-qualified team of
internal and consulting uranium exploration experts to direct its efforts at
Marysvale and elsewhere in North America. Trigon also holds a portfolio of
high-potential diamond exploration properties within a wholly-owned
subsidiary. Trigon stock trades on the TSX Venture Exchange under the symbol
"TEL". There are 34,905,919 shares of Trigon outstanding, 44,753,029
fully-diluted.
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chfir.com and specify "Trigon News" in the subject line.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This release
includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of
historical facts, that address future developments that the company
expects to occur, are forward-looking statements. Although the company
believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees
of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors that
could cause actual results to differ materially from those in forward
looking statements include market prices, exploitation and exploration
successes, and continued availability of capital and financing and
general economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance and
actual results or developments may differ materially from those projected
in the forward-looking statements. The Company does not assume any
obligation to update or revise its forward-looking statements, whether as
a result of new information, future events or otherwise.
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%SEDAR: 00021118E
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/For further information: please visit www.trigonexploration.com or
contact: Sidney Himmel, President and Chief Executive Officer, Trigon
Exploration Canada Ltd., Tel: (250) 317-3624, Email:
sidney.himmel@trigonexploration.com; Jeanny So, Broker Relations Specialist,
CHF Investor Relations, Tel: (416) 868-1079 x 225, Email: jeanny@chfir.com/ |
