ESO Completes Phase One Program on the Marietta Uranium Project in Nevada
Mon Sep 22, 12:42 PM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2008) - ESO Uranium Corp. (TSX VENTURE: ESO.V)(FRANKFURT:E2G) ("the Company"), reports that radon, radiometric and ground geophysical surveys have been completed on the Marietta Project in Mineral County, Nevada. The approximately 2,400 acre (970 hectare) property now comprises 116 claims under option from Western Geoscience Inc. and Kleinebar Resources Inc.
The radon and radiometric surveys were completed concurrently at over 500 sample locations on a 200 m by 100 m grid across the entire property. Corresponding radon and radiometric anomalies were discovered on the flank of a granitic intrusive and the piedmont sand and gravel beneath it. Anomalous radon flux values reached up to 19pCi/l/cu.m./sec compared to a background of 1-2 pCi/l/cu.m./sec. Anomalous radiometric values were recorded up to 611 cps (total counts) on surface sample sites using an Exploranium GR-110 scintillometer. The scintillometer readings were off-scale (greater than 9999 cps) in historical adits and workings on the property.
Radon and radiometric anomalies in the granitic rocks will be followed up with geological mapping, detailed prospecting and rock sampling. Anomalies in the pediment sands and clays flanking an enclosed basin indicate a potential for calcrete uranium deposits such as the Yeelirrie deposit in Australia, and Langer Heinrich deposit in Namibia. The company plans to conduct a shallow drilling program to test these anomalies.
The approximate 12 km line ground geophysical survey located several electro potential anomalies corresponding to some radon and radiometric anomalies. A strong electro potential anomaly was detected about 150 meters down slope from the Silver Moon Adit, potentially indicating a previously unknown extension of this uranium bearing vein structure that was mined at a small-scale in the 1950's. Four drill pads from an earlier exploration effort were located in an area 200 meters south of the Silver Moon and Silver Moon adits and close to a range fault that lies along the NE - SW trending contact of the granitic rocks. A 1.5 m chip sample taken earlier across the Silver Bell shear, in an adit and upslope from the drill sites, returned a value of 0.39% U3O8.
For reference, the current spot price quoted by UxC.com for uranium oxide is US$62.00 per pound of U3O8, compared to the June, 2008 low of $56/lb; long term contracts are reported to be considerably higher in price. An assay reported as 1.0% of U3O8 is equal to 20 pounds of uranium oxide per short ton - the conversion of percent metal or metal oxide from percent to pounds per short ton is done by multiplying the % value by 20.
ESO is a Canadian junior mineral exploration company focused on uranium exploration in the premier world uranium production district of the Athabasca Basin, Saskatchewan and other areas with lower cost exploration targets with high uranium potential. For further information about the company's exploration properties please visit our website at www.esouranium.com.
On behalf of the Board of Directors of ESO Uranium Corp.
Ben Ainsworth, Vice President, Exploration, Qualified Person for this work.
Please refer to the ESO Uranium website for further and updated information.
Forward Looking Statements: Statements contained in this news release that are not historical facts are forward looking statements, which are subject to a number of known and unknown risks uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results levels of activity, performance or achievements.
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release.
Contacts
Robert (Bob) Meister
ESO Uranium Corp.
(604) 629-0293 or Toll Free: 1-866-629-8368
(604) 684-9365 (FAX)
Email: info@esouranium.com
Website: www.esouranium.com |
