NWT Uranium reveals North Rae drill results support exploration target
Wed Apr 9, 9:02 AM
ca.news.finance.yahoo.com
Additional rock grab samples from North Rae and Daniel Lake identify two
new mineralized zones
TORONTO, April 9 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) today announced results for eight drill holes completed on radioactive targets and other high-priority areas in three zones at its North Rae Uranium Project in the Ungava Bay region of northern Quebec, Canada. Results from additional rock grab samples, collected during 2007 ground evaluation work at North Rae and the contiguous Daniel Lake Uranium Project, were also disclosed. Of particular note, the rock grab samples have identified two new uranium mineralized zones, with one located at North Rae and the other at Daniel Lake.
Results from drilling at North Rae, combined with the data acquired from comprehensive ground exploration at North Rae, provide further support for NWT's exploration model, which targets a high-tonnage, near-surface uranium deposit that could be mined using open-pit methods. The North Rae and Daniel Lake Uranium Projects are under option from Azimut Exploration Inc.
"NWT is encouraged by the results from its first drill program at North Rae as they confirm that surface mineralization generally continues at depth," said Marek J. Kreczmer, President and CEO of NWT Uranium. "Based on the positive results obtained through work completed to date, NWT expects to continue its comprehensive exploration program in Quebec, including additional drilling on the North Rae property."
Results
In 2007, NWT completed eight diamond drill holes at the North Rae Uranium Project, covering 1,843 feet (562 meters), and tested three targets: Tasialuk, Tasik and Jonas. A total of 446 samples, representing 750.3 feet (228.7 meters) of core, were collected and submitted for analysis. Details of the analytical results are outlined in the table below. The mineralization intercepted during drilling is related to pegmatite dykes.
Assay results from 123 widely spaced surface rock grab samples collected at North Rae and 15 samples collected at Daniel Lake reveal values consistent with earlier findings. Of the total 138 samples, 62 returned values over 0.01% U(3)O(8), including 14 with values over 0.05% U(3)O(8). This information confirms a new zone of uranium mineralization on the North Rae property, known as Taqqiq, as well as provides an encouraging first set of results for Daniel Lake.
The Taqqiq zone was discovered by prospecting a previously identified lake-bottom sediment geochemical anomaly. A total of 36 samples were collected by local prospectors from the Nunavik Mineral Exploration Fund. Of the 36 samples, 13 returned values of over 0.02% U(3)O(8), including two values of 0.1% U(3)O(8). Ground radiometrics indicate that the new mineralized zone represents a 1.6-mile (2.7-kilometer) corridor of pegmatite dykes that range in width from six to 32 feet (two to 10 meters).
At Daniel Lake, 15 rock grab samples were collected from two main 1,640-foot (500-meter) long anomalous areas that were identified using preliminary data from a 2007 airborne survey conducted by Geo Data Solutions Inc. (GDS). Of the 15 samples, five returned values above 0.02% U(3)O(8) with a maximum value of 0.65% U(3)O(8). The anomalous pegmatite dykes have been followed over a length of 800 meters. Final results from the GDS airborne survey confirm that the Daniel Lake Uranium Project has similar geophysical characteristics and uranium potential as the adjoining North Rae property.
The table below provides details of the best intersections from the
drilling program.
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Zone From To Length U(3)O(8) U(3)O(8)
drilled (m) (m) (m) U ppm ppm %
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NR-07-01 Tasialuk 4.95 7 2.05 189 223 0.019
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7.75 9.2 1.45 138 163 0.016
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23.5 28.7 5.20 139 164 0.016
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64.75 65.75 1.00 638 752 0.075
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NR-07-02 Tasialuk 3 9 6.00 183 216 0.022
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18 25 7.00 93 110 0.011
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35.75 37.45 1.70 213 251 0.025
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76.05 77.55 1.50 351 414 0.041
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NR-07-03 Tasialuk 5 11.5 6.50 146 164 0.017
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NR-07-04 Tasialuk 2.6 7 4.40 100 118 0.012
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18 23 5.00 119 140 0.014
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NR-07-05 Tasik 20.5 23 2.50 228 269 0.027
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50.5 53 2.50 349 411 0.041
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NR-07-06 Tasik 30 32.5 2.50 144 170 0.017
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NR-07-07 Tasik 15 18 3.00 265 312 0.031
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32.4 33 0.60 410 483 0.048
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NR-07-08 Jonas 31 32.25 1.25 142 167 0.017
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Holes drilled on the Tasialuk and Tasik zones tested radiometric highs within the clusters of pegmatite dykes that were uncovered through previous ground exploration work, while the hole drilled on the Jonas zone tested a WNW-ESE mineralized structure that extends over a 492-foot (150-meter) length.
Some of the assays returned were below the detection limits of the analytical techniques used to analyze samples.
NWT has the right to earn up to 65% ownership of both North Rae and Daniel Lake from Azimut Exploration Inc., as announced in press releases dated March 6, 2006 and January 29, 2007.
Assay rock grab sample results from North Rae were detailed in press releases dated November 19, 2007, October 16, 2007, and January 16, 2008, and are available at the company's website at www.nwturanium.com.
Quality Assurance
NQ core is split in half on site, with one half collected for sample analysis and the other half remaining as reference material. Samples selected for analysis were sent to Saskatchewan Research Council of Saskatoon for analysis using both aqua regia and total acid digestion followed by ICP. Industry standard Quality Control/Quality Assurance protocols have been implemented, including insertion of certified reference material. Drilling was conducted by Forage à Diamant Benoit Ltée of Val d'Or, Quebec.
Rock grab samples from all zones, collected during 2007 ground evaluation, were submitted to Saskatchewan Research Council of Saskatoon for analysis using aqua regia partial digestion followed by ICP. Industry standard Quality Control/Quality Assurance protocols have been implemented, including insertion of certified reference material. Samples were collected at surface or near surface after small blasting using the Boulder Buster technique (average sampling depth of 30cm).
ABOUT NWT URANIUM:
NWT Uranium Corp. (www.nwturanium.com) is an international resource exploration company with an experienced, highly technical management team. Since its inception, NWT has concentrated on the acquisition of properties with potential uranium targets. NWT Uranium is listed on the NASD Bulletin Board under the symbol "NWURF" and the TSX Venture Exchange under the symbol "NWT."
Mr. Bertrand Taquet, P.Geo, NWT Uranium's Senior Geologist, who is a Qualified Person (QP) as defined by National Instrument 43-101, is responsible for the current exploration program at North Rae and Daniel Lake and has supervised the preparation of this press release and verified the data reported above.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Potential quantity and grade is conceptual in nature; there has been insufficient exploration to define a mineral resource on the North Rae and Daniel Lake Uranium Projects and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Contacts
Marek J. Kreczmer
M.Sc.
P.Eng.
President and CEO
NWT Uranium Corp.
(866) 437-9551
info@nwturanium.com |
