Great Bear Lake
URANIUM-IOCG STUDY - Alberta Star examines potential near Great Bear Lake
NORTHWEST TERRITORIES - ALBERTA STAR DEVELOPMENT of Vancouver has completed a technical report on its Port Radium-Echo Bay IOCG property on the east side of Great Bear Lake. The property area includes the past producing Eldorado (uranium-copper-silver) and Echo Bay (silver-copper) mines, the Cross Fault Lake mine (uranium), and broad areas of mine tailings.
Alberta Star says previous production from these underground mines occurred intermittently from 1933-82, yielding in excess of 31 million oz of silver and 15 million lb of U3O8, as well as significant production of radium, copper, cobalt, nickel, lead, zinc and galena. Historic production exploited zones of high grade uranium, silver and copper along narrow vein structures. The overall distribution of mineralization occurs within these prolific structures. There are hundreds of documented copper-cobalt-nickel-gold-silver-uranium occurrences demonstrating the widespread polymetallic and precious metal fertility of the Eldorado and Contact Lake property areas.
The complete technical report may be read at www.SEDAR.com.
canadianminingjournal.com
======================================
Solitaire Minerals Corp. Completes Mystery Island Airborne Survey
VANCOUVER, BRITISH COLUMBIA, Aug 16, 2006 (MARKET WIRE via COMTEX) -- Solitaire Minerals Corp. (TSX VENTURE: SLT) (the Company) has received preliminary results from its recently completed VTEM (Geotech Ltd.) geophysical survey on the Mystery Island iron-oxide, copper, gold, silver and uranium (IOGC) project. This survey has identified a 12 kilometer long magnetic low which is coincident with the largest fault in the Port Radium mining camp. Preliminary interpretation suggests that this is an expression of a major alteration zone. This is very significant because this fault bounds the mining camp and has the same orientation as the faults which hosted the Eldorado Mines and Echo Bay Mines high grade uranium, silver and copper orebodies. This target is on the property boundary between Solitare and Alberta Star Development Corp. (TSX VENTURE: ASX).
The Mystery Island project consists of approximately 21,830 acres in the Great Bear Lake area and is located approximately 430 kilometres north of Yellowknife, NWT. The property adjoins the Contact Lake (Eldorado) project of Alberta Star Development Corp., which is being explored for iron-oxide, copper, gold, silver and uranium (IOCG) targets. Alberta Star has commenced a major exploration program, including a minimum of 15,000 metres of diamond drilling. Solitaire Minerals' Mystery Island property is on strike with, and could host extensions of, the Eldorado uranium mine, Canada's first uranium producer. The mineralization and geology of the Great Bear magmatic zone indicate similarities with the Olympic Dam IOCG deposit.
The Olympic Dam, or the (IOGC) model, is proposed as the main exploration model for the Mystery Island property in this specific part of the Great Bear magmatic zone. The Olympic Dam deposit at Roxby Downs in the Gawler craton of southwest Australia consists of dike-like, hematite-rich diatreme breccias in granite and felsic volcanics, and has a reported resource of 2.32 billion tonnes of 1.6 per cent copper, 0.5 gram per tonne gold, 3.5 grams per tonne silver and 0.4 kilogram per ton U3O8. This and other similarities conclude that the Mystery Island property is situated in a geological setting that has the potential to host high-unit-value polymetallic mineralization associated with large-tonnage, IOCG-type deposits, as well the potential to host Echo-Bay-type, high-grade, lower-tonnage U3O8-Ag mineralization.
For a map of the Mystery Island property location and Aero-mag survey in the Great Bear Lake area, visit the company's website or visit the following link directly.
www.solitaireminerals.com/pdf/exploration/slt_mystery-island_geology-mag.pdf
Mike Magrum, P.Eng., a qualified person under National Instrument 43-101, has approved the technical content of this news release. The company's objective is to bring the properties to the drill-ready stage as soon as possible.
About Solitaire Minerals Corp.
Solitaire Minerals Corp. (TSX VENTURE: SLT) is a diversified junior Canadian mineral exploration company with a specific focus on mineral properties in North America. The Company has assembled a portfolio of precious and base metal exploration prospects in Ontario, Saskatchewan, Alberta, and the North West Territories. Solitaire's Ontario properties in the Red Lake/Birch-Uchi Greenstone Belt include the Baird, Heyson and Chukuni River Prospects, in which the Company has agreements to earn 100% in, but has not yet vested its interest. In addition, the Company has entered into an option agreement with another company, whereby that company may earn up to a 50% interest in the Baird Property. The Company also has an option to earn 100% in the Lateral Lake West property located in the Webb township of Ontario. In Saskatchewan, the Company has signed a purchase agreement to acquire a 100% interest in the Highrock Lake property and a 90% interest in the Riou Lake Property located in the Athabasca Basin. The Company has also acquired the Riou Lake North and South properties in which the company has 100% interest. In Alberta, the Company has purchased the Ravenscrag property in which the Company has 100% interest. In the North West Territories, the Company has purchased the Mystery Island IOCG Property located in the Great Bear Lake area in which the Company has 100% interest.
On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
Charles Desjardins, President and Director
Statements in this press release other than purely historical information, historical estimates should not be relied upon,including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
news.tradingcharts.com
=====================================================
Prospecting Permits, Northern Saskatchewan
Santoy Resources Ltd. has acquired a 50% working interest in seven of ten Prospecting Permits applied for in Northern Saskatchewan. The permit applications were jointly awarded to both Santoy Resources and Wescan Goldfields, on a 50/50 basis, and were based on favourable geological and geophysical signatures and/or known mineralization.
The total area acquired in northern Saskatchewan is 139,000 ha (343,500 acres) covering a number of diverse geological settings within the Athabasca Basin and the Wollaston Fold belt.
PROJECT NTS DISPOSITION SIZE
HAZEMPA LAKE 74-J-15 PP 1210 20,033 ha
PP 1211 11,870 ha
FIR ISLAND 74P-03 PP 1213 21,994 ha
PATTYSON LAKE 74I-15 PP 1214 29,189 ha
74I-14 PP 1215 15,675 ha
DOWLER LAKE 74K-13 PP 1217 21,418 ha
KARPINKA LAKE 74B-16 PP 1218 18,828 h
Hazempa Lake
Hazempa Lake consists of two permits, which are situated south of the Fond du Lac River. Favourable structural settings are indicated by the interpretation of the regional magnetic coverage.
Fir Island
The Fir Island permit is strategically located to cover Fir Island on Black Lake immediately south of the Athabasca unconformity. The basement rocks are comprised of Mudjatik terrain situated immediately east of the major Black Lake - Virgin River domain (Snowbird Tectonic zone) boundary. The basement rocks immediately to the east contain significant uranium mineralization including the historic Nisto Mine.
Pattyson Lake
The Pattyson Lake project consists of two permits within the northeast sector of the basin to the south of the Fond du Lac River with relatively shallow Athabasca sandstone cover. The basement rocks are within the Mudjatic domain.
Dowler Lake
The Dowler Lake Permit is situated on the south shore of Lake Athabasca immediately east of the Alberta border. Historical exploration has indicated some potential for uranium mineralization even though the area has a thick cover of Athabasca sandstone.
Karpinka Lake
The Karpinka Lake Permit is located south of Key Lake and covers known uranium mineralization in the Aphebian age sediments in bedrock and boulders. The property is situated on the boundary between the Wollaston and Mudjatic domains. Some of the uranium mineralization also carries associated cobalt and nickel values. The property also has the advantage by being transected by the all weather Key Lake Road.
Hatchet Lake Joint Venture Project
Santoy Resources Ltd. has agreed to acquire a 50% equity interest in 20 mineral exploration claims totaling 59,889 hectares (147,985 acres), referred to as the Hatchet Lake Joint Venture Project. The property is located on the Wollaston trend at the northeast margin of the Athabasca Formation. The acquisition is being made from 723107 B.C. Ltd., a non-arm's length, private British Columbia corporation in which the President of Santoy, Mr. R. K. Netolitzky has an interest. An independent 43-101 compliant geological evaluation of the project has been commissioned to Mr. Ralph Newson, P.Eng. of Saskatoon, Saskatchewan. The purchase will be subject to regulatory approval, and subject to final approval of an independent committee of Santoy's Board of Directors. The consideration for the transaction will be $67,064 cash; 500,000 shares of Santoy; and 500,000 share purchase warrants, exercisable at $0.75 per share for a two year period from the date of Exchange approval of the agreement.
The remaining 50% interest in the Property has been acquired by, TSX-listed International Uranium Corporation. Santoy will be the initial operator of the Hatchet Lake Joint Venture.
The claims were staked on the basis of a northeastward continuation of regional structural trends and faults that host the Millennium, the McArthur River, the Cigar Lake and the Midwest Lake uranium orebodies. The properties cover a series of magnetic lows and electromagnetic conductors that were partially drill investigated as part of the Dawn Lake Project by the Cameco -- Cogema Joint Venture. A number of uranium, cobalt, copper, nickel, zinc, arsenic, and gold enriched drill intercepts on the claims have been reported, including one intersection of 2.5 metres of 7.34% cobalt, 1.66% nickel and 16.07% arsenic [assessment report 64-L-NW-0053, 1990] on claim S-107535. On the same conductive trend 3.5 km to the southeast, on a small internal claim block not owned by the Joint Venture, a second drill intercept of 2.5% copper, 950 parts per billion gold,(0.95 g/t Au) and 2,600 parts per million uranium (0.26% U) is reported over a core length of 6.0 metres [assessment report 64-L-NW-0053].
Santoy Resources Ltd. and International Uranium Corporation have jointly agreed to acquire, by contract staking, 13 additional mineral exploration claims totaling 63,489 hectares (156,881 acres) on the northeast margin of the Athabasca Basin. The majority of the ground is contiguous with and will be integrated into the 50:50 Santoy - IUC Hatchet Lake Joint Venture Project. This brings the total of the Hatchet Lake Joint Venture project to 33 mineral exploration claims totalling 123,378 hectares or over 300,000 acres.
Kasmere Lake Project, Manitoba
The Company has also applied for a Prospecting License in Manitoba consisting of approximately 100,000 ha. The property is on the northeast extension of the Wollaston Domain and was the focus of considerable exploration in the 1960's and 1970's by a number of companies as well as comprehensive geophysical and geochemical surveys completed by government agencies.
Uranium, molybdenum, cobalt, nickel, copper and gold mineralization have been located in outcrop and in boulders. The source of some of the high-grade boulders, have not been located by the historical exploration activity and will be the focus of Santoy's exploration.
Proposed Exploration
The first step will include the completion of a comprehensive compilation of historical work including the available geophysical coverage. It is anticipated that a number of the concessions within the basin will then be flown with state of the art electromagnetic and magnetic surveys.
The permits at Karpinka Lake and Kasmere Lake cover areas with potential for basement hosted deposits and these areas will be explored by utilizing current technology to identify the source of the known mineralized boulders found in the till.
=====================================================
santoy.ca
=====================================================
unorinc.com |
