Uranium Bay Commences 2008 Exploration
Wed Apr 9, 9:43 AM
ca.news.finance.yahoo.com
MONTREAL, QUEBEC--(Marketwire - April 9, 2008) - Uranium Bay Resources Inc. (TSX VENTURE: UBR.V) is pleased to report that Mr. Geoff Campbell of GAP Geophysics (PTY) LTD ("GAP") was retained to complete a uranium target and litho-structural mapping exercise over the wholly-owned Uskawanis and Kauschiskach Uranium properties ("UUP") and ("KUP"); both located near the town of Radisson, in the James Bay area of northern Quebec; and on the five wholly-owned Wakeham properties located in the Wakeham area, in eastern Quebec.
The work will be based on aeromagnetic and radiometric data obtained during the 3,542 line km UUP; the 1,587 line km KUP; and the 1,250 line km Wakeham airborne surveys completed during the 2007 exploration season by Geophysics GPR International Inc. ("GPR"). Furthermore, the work on the UUP properties will also include geological control information obtained during the fall 2007 drilling campaign.
GAP undertakes to provide UBR technical team the following interpretation deliverables:
- A litho-structural interpretation presented in .tiff and .dxf digital formats
- Uranium targets outlined as polygons and strike axes and presented as above, with annotations (re: anomaly amplitude versus background, etc.)
- A listing of uranium target areas including x/y boundary locations, background and anomalous radiometric responses including uranium, estimated surface area, and a ranking of these target areas.
- A brief memo-report summarizing the interpretative findings.
The major aim of this programme is to give the Company's technical team, led by , a scientifically based list prioritizing the exploration targets on UUP's large area (greater than 150 km2) of significant radiometric anomalies. The secondary aim of the programme is to enable the Company to have a more focused approach in the exploration of the KUP and Wakeham properties.
Upon reception of Mr. Campbell's report, the Company's technical team will begin field exploration work on target areas identified by Mr. Campbell. It is anticipated that by the end of June or beginning of July, the Company should be able to start a second helicopter-supported diamond drilling programme on UUP. The goal will be to complete a minimum of 5,000 metres of drilling in order to determine and provide preliminary delineation of any resource potential on the UUP concession.
Further updates will be made on a regular basis.
About Geoff Campbell and GAP Geophysics (PTY) Ltd.
Geoff Campbell has over 35 years experience in the application and interpretation of geophysical mapping techniques for mineral exploration and hydrogeological programmes in Africa, the Americas and Europe. He has an extensive background in base-metal, gold, platinum, coal, uranium and kimberlite exploration geophysics, specializing in "target generation" and litho-structural interpretations. Qualifications include an MSc (1967) in Applied Geophysics from the Royal School of Mines, London, and an MBA (1979) from WITS University, Johannesburg.
As JCI Chief Geophysicist from 1973 to 1995, he pioneered the use of high-resolution aeromagnetic surveys and seismic mapping for exploration and mine planning purposes, and was involved in the early discovery of the Joel Gold Mine in the Wits OFS GoldFields, plus small uranium and base-metal deposits in the Karoo and NWCape respectively. He now heads GAP Geophysics, a small consulting group which focuses on programme design, project management and geophysical plus remote sensing interpretation for target generation and structural studies.
He is a member of the Society of Exploration Geophysicists and past president (twice) of the South African Geophysical Association (SAGA), being one of the founder members of this Group, and currently sits on the central committee as treasurer. SAGA recently (2003) awarded him with an honorary life membership for his contributions to geophysical exploration work in South Africa. He is also a past Chairman of the Environmental Earth Science Group.
Mr. Bernard Tourillon, UBR's President and CEO, comments: (...) Uranium Bay is extremely fortunate to have been able to secure the timely services of a world renown Geophysicist to help the Company focus its 2008 exploration programmes (...) The Company intends to continue its aggressive exploration strategy started in 2007 (...) In less than twelve months, UBR has taken a grass root exploration project, invested $2,700,000 in exploration and become the first company to have found Rossing type mineralization outside of Namibia (...) The Company's goal going forward is identifying an economic bulk mineable target within the broad region of anomalous U3O8 at Uskawanis (...)
Mr. Vivian Stuart-Williams, (SACNASP), a Director of the Company and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.
About Uranium Bay Resources Inc.
Uranium Bay Resources Inc. is a Canadian based junior resource and exploration company trading under the symbol UBR on the TSX Venture Exchange. The Company has 70,593,642 shares outstanding. The Company holds 100% of several U3O8 mineral exploration properties including the 314 km2 Uskawanis Uranium property located just south of the Opinaca reservoir, the 90 km2 Kauschiskach Uranium property located just 100 km NE of Radisson in the Quebec James Bay area of northern Quebec, and the five properties totalling 197 claims covering the Lac Georges (100 claims), Lac Forget (24 claims), Ruisseau Lebrun (38 claims), Maurice (19 claims) and Bloc extension 06 (16 claims) properties located in the Wakeham area, in eastern Quebec. In addition, the Company's subsidiary, Eragon Resources Inc., is to hold the Namibian concessions known as Gunib and Grootfontein.
This news release contains forward-looking statements reflecting Uranium Bay objectives, estimates, expectations and the impact of acquisitions on Uranium Bay's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Uranium Bay's projections or expectations.
The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Bernard J. Tourillon
Uranium Bay Resources Inc.
President and CEO
514-846-3271
Toll-free: 1-888-666-3431
Guy Girard
Uranium Bay Resources Inc.
VP and CFO
514-846-3271
Toll-free: 1-888-666-3431 |
