Raytec Metals Corp. has appointed Brian Thurston to join the board of directors and he has hereby accepted the position of president.
Mr. Thurston, HBSc (geology), has more than 15 years of exploration and project management experience, 12 of which were spent in Latin America. Most recently, Mr. Thurston was project manager for Pacific Ridge Exploration Corp. and was instrumental in a new uranium discovery (Lucky 7 zone) near Baker Lake, Nunavut, Canada. Mr. Thurston was part of the initial geological exploration team that evaluated the current landholdings of Aurelian Resources Inc. in Ecuador in 2002 and held the position of country manager for Aurelian in Ecuador in 2004 and 2005.
"Brian has an outstanding track record of project exploration combined with years of experience managing logistics for projects. Having been involved in two significant discoveries, being a consulting geologist in the early stages, through to becoming the country manager for Aurelian Resources in Ecuador, and also his involvement in the Lucky 7 uranium discovery in Northern Canada bode well for his experience to lead this exploration-oriented company," said Casey Forward, chief financial officer of Raytec.
The company is also pleased to announce that work will be commencing shortly on the company's 100-per-cent-owned C5 property located in the eastern Athabasca basin in Northern Saskatchewan. It is approximately 20 kilometres south of the McArthur River mine, the largest high-grade uranium deposit in the world, and approximately 20 kilometres to the northeast of Cameco Corp.'s recently discovered Millennium deposit.
In June, 2006, Cameco Corporation, UEM Inc. and Int'L Enexco joint venture on the adjoining Mann Lake property, which is immediately west of Raytec's C5 project, announced several successful drill results. Two holes were drilled and targeted the western most conductor within a resistivity low. One hole intersected the unconformity at 517.8 metres and encountered four narrow intervals of basement-hosted uranium mineralization within 12 metres of the unconformity. The two highest-grade intervals averaged 7.12 per cent U308 over 0.25 metre and 5.53 per cent U308 over 0.4 metre. In November, 2006, Int'L Enexco announced Cameco has tripled its budget for the 2007 exploration on their Mann Lake property. Cameco Corp. and International Inexco are expecting drill results shortly.
Raytec has flown the C5 property and has identified a distinct conductor that is believed to represent unconformity type alteration making it a high-priority drill target. The company is currently planning a winter ground follow-up geophysical program leading to a drill program in February, 2008.
"I'm very pleased to have been given the opportunity to lead this company going forward. The current management have done an excellent job to acquire some very strong assets in the Athabasca basin, and I'm excited to begin exploring these properties," said Brian Thurston, president of Raytec.
The company wishes to thank Gerry Minni for his years of service as president. He will remain on the board of directors.
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