Xemplar Drills 25 Metres Grading 0.019% U3O8 at Warmbad Project's Aluriesfontein
Mon Jan 12, 1:55 PM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2009) - The Board of Directors of Xemplar Energy Corp. (TSX VENTURE: XE.V)(FRANKFURT:E7R)(NAMIBIA: XEM) ("Xemplar" or the "Company") is pleased to report the results for a further nine drill holes drilled at its Warmbad property in Namibia. The geological environment is the same as that which hosts the Rossing uranium mine (operated by Rio Tinto) that produced 7% of the world's uranium in 2007, and with the Valencia uranium deposit (Forsys Metals Corp.) which is subject to a CDN$579 million takeover offer.
These results, coupled with previously announced drill results from Aluriesfontein, continue to expand the size of the five mineralized zones that have been identified. The grades encountered are consistent with the grade of the Valencia deposit.
Further assay results from the 2008 drill program are forthcoming.
Highlights of chemical assay results from the Company's drill program at Aluriesfontein include:
Aluriesfontein, Hole RCALU0064:
- 5 metres grading 0.010% U3O8, from 105 metres to 110 metres.
Aluriesfontein, Hole RCALU0065:
- 17 metres grading 0.011% U3O8, from 124 metres to 141 metres.
- 4 metres grading 0.011% U3O8, from 155 metres to 159 metres.
Aluriesfontein, Hole RCALU0070:
- 16 metres grading 0.012% U3O8, from 103 metres to 119 metres.
- 6 metres grading 0.010% U3O8, from 127 metres to 133 metres.
Aluriesfontein, Hole RCALU0075:
- 16 metres grading 0.013% U3O8, from 114 metres to 130 metres.
- 4 metres grading 0.020% U3O8, from 162 metres to 166 metres.
Aluriesfontein, Hole RCALU0080:
- 6 metres grading 0.012% U3O8, from 16 metres to 22 metres.
- 6 metres grading 0.011% U3O8, from 37 metres to 43 metres.
- 4 metres grading 0.011% U3O8, from 60 metres to 64 metres.
- 5 metres grading 0.012% U3O8, from 104 metres to 109 metres.
- 11 metres grading 0.013% U3O8, from 143 metres to 154 metres.
Aluriesfontein, Hole RCALU0082:
- 7 metres grading 0.014% U3O8, from 18 metres to 25 metres.
- 5 metres grading 0.010% U3O8, from 89 metres to 94 metres.
- 4 metres grading 0.013% U3O8, from 100 metres to 104 metres.
- 4 metres grading 0.015% U3O8, from 192 metres to 196 metres.
Aluriesfontein, Hole RCALU0083:
- 16 metres grading 0.012% U3O8, from 73 metres to 89 metres.
- 25 metres grading 0.019% U3O8, from 171 metres to 196 metres.
Aluriesfontein, Hole RCALU0084:
- 6 metres grading 0.015% U3O8, from 50 metres to 56 metres.
- 5 metres grading 0.010% U3O8, from 62 metres to 67 metres.
- 13 metres grading 0.011% U3O8, from 83 metres to 96 metres.
Please refer to the assay tables in the appendix of this news release for a complete summary of chemical assay results from the above 6 holes. Assays greater than 100 parts per million, or 0.010% U3O8 over one metre are reported.
Xemplar Energy plans to execute a balanced exploration drill program combining definition and development drilling with the primary objective of defining a resource for its Warmbad project. The exploration program in 2009 will entail:
- Drilling to extend the size of the mineralized zones at Aluriesfontein and Big Yellow.
- Aggressively continue with surface exploration and drilling at Aluriesfontein, Big Yellow East, Centre and West, Houms River, Girtis, and Gaobis/Energy Ridge to define new zones of mineralization.
Other News
Xemplar Energy will be hosting an investor conference call on Wednesday, January 14, 2009 to be held at 1:30PM (Pacific Standard Time/GMT-8 hours). All investors are welcomed to participate in the Conference Call. Instructions for your participation will be posted on the Company's website xemplar.ca.
About Xemplar Energy Corp.
Xemplar Energy Corp. is a Canadian-based resource company focused on uranium exploration in Namibia. Through Namura Mineral Resources Pty., its wholly-owned Windhoek, Namibia-based subsidiary, the Company currently holds Exploration Prospecting Licenses (EPL) for the Cape Cross, Aus, Garub and Warmbad properties totaling 7,382 square kilometers.
The primary focus of Xemplar Energy's work in Namibia is the Warmbad project, where the Company has been actively engaged in an exploration drilling program where significant uranium mineralization is being encountered. The company had originally identified 14 large, anomalously radiometric alaskitic bodies, which has since been redefined as five larger bodies as some of the original alakite bodies merge with each other. Of these, the Aluriesfontein is the largest, covering 36 square kilometres. Alaskitic rocks also host the Rossing mine in Namibia, which produced 3,046 tonnes, representing 7% of the global production of uranium oxide in 2007.
With $16.0 million (CDN) cash on hand, the Company is in a strong financial position to execute its exploration programs for the next 24 months.
Mike Magrum, P.Eng., a qualified person under National Instrument 43-101, has approved the technical content of this news release.
On behalf of the Board of Directors,
Xemplar Energy Corp.
Simon Tam, CEO and Director
Appendix
Detailed Assay Results
(using a 100 parts per million (PPM) / 0.01% U3O8 cut-off grade)
Aluriesfontein
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Grades
From To Width (parts Grades
Hole Number (metres) (metres) (metres) per million) (Pct.)
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RCALU0062 31 32 1 107.6 0.011%
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40 41 1 101.4 0.010%
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54 56 2 103.9 0.010%
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57 58 1 106.3 0.011%
----------------------------------------------------
121 123 2 117.6 0.012%
----------------------------------------------------
131 133 2 102.3 0.010%
----------------------------------------------------
135 136 1 139.4 0.014%
------------------------------------------------------------------
------------------------------------------------------------------
RCALU0064 105 110 5 104.2 0.010%
----------------------------------------------------
113 114 1 140.4 0.014%
----------------------------------------------------
119 122 3 104.7 0.010%
----------------------------------------------------
124 126 2 107.1 0.011%
----------------------------------------------------
128 130 2 126.8 0.013%
----------------------------------------------------
139 140 1 114.9 0.011%
------------------------------------------------------------------
------------------------------------------------------------------
RCALU0065 124 141 17 107.4 0.011%
----------------------------------------------------
includes 129 130 1 238.4 0.024%
----------------------------------------------------
144 145 1 104.9 0.010%
----------------------------------------------------
147 148 1 144.6 0.014%
----------------------------------------------------
155 159 4 113.2 0.011%
----------------------------------------------------
178 179 1 129.6 0.013%
------------------------------------------------------------------
------------------------------------------------------------------
RCALU0070 103 119 16 122.0 0.012%
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includes 111 112 1 456.1 0.046%
----------------------------------------------------
127 133 6 101.2 0.010%
----------------------------------------------------
includes 132 133 1 263.8 0.026%
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------------------------------------------------------------------
RCALU0075 114 130 16 133.5 0.013%
----------------------------------------------------
includes 114 119 5 214.1 0.021%
----------------------------------------------------
includes 126 127 1 218.3 0.022%
----------------------------------------------------
142 143 1 163.2 0.016%
----------------------------------------------------
147 149 2 134.6 0.013%
----------------------------------------------------
157 158 1 146.1 0.015%
----------------------------------------------------
162 166 4 197.0 0.020%
----------------------------------------------------
includes 164 165 1 335.2 0.034%
----------------------------------------------------
172 173 1 137.5 0.014%
----------------------------------------------------
176 177 1 173.1 0.017%
------------------------------------------------------------------
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RCALU0080 11 12 1 108.8 0.011%
----------------------------------------------------
16 22 6 121.4 0.012%
----------------------------------------------------
includes 19 20 1 237.6 0.024%
----------------------------------------------------
28 29 1 100.9 0.010%
----------------------------------------------------
37 43 6 108.4 0.011%
----------------------------------------------------
60 64 4 111.9 0.011%
----------------------------------------------------
104 109 5 118.0 0.012%
----------------------------------------------------
138 140 2 163.5 0.016%
----------------------------------------------------
143 154 11 129.8 0.013%
----------------------------------------------------
includes 143 144 1 421.8 0.042%
----------------------------------------------------
147 148 1 239.7 0.024%
------------------------------------------------------------------
------------------------------------------------------------------
RCALU0082 11 12 1 116.0 0.012%
----------------------------------------------------
18 25 7 141.5 0.014%
----------------------------------------------------
89 94 5 101.2 0.010%
----------------------------------------------------
100 104 4 126.2 0.013%
----------------------------------------------------
121 124 3 104.7 0.010%
----------------------------------------------------
139 140 1 116.4 0.012%
----------------------------------------------------
192 196 4 146.1 0.015%
------------------------------------------------------------------
------------------------------------------------------------------
RCALU0083 41 42 1 115.0 0.012%
----------------------------------------------------
73 89 16 115.9 0.012%
----------------------------------------------------
104 107 3 107.9 0.011%
----------------------------------------------------
135 136 1 211.7 0.021%
----------------------------------------------------
149 150 1 108.0 0.011%
----------------------------------------------------
159 160 1 168.3 0.017%
----------------------------------------------------
171 196 25 192.9 0.019%
----------------------------------------------------
includes 173 177 4 247.0 0.025%
----------------------------------------------------
includes 178 179 1 412.7 0.041%
----------------------------------------------------
includes 183 185 2 296.5 0.030%
----------------------------------------------------
includes 190 193 3 247.6 0.025%
------------------------------------------------------------------
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RCALU0084 50 56 6 152.1 0.015%
----------------------------------------------------
includes 53 54 1 200.1 0.020%
----------------------------------------------------
59 60 1 111.2 0.011%
----------------------------------------------------
62 67 5 101.0 0.010%
----------------------------------------------------
71 72 1 105.1 0.011%
----------------------------------------------------
75 76 1 169.1 0.017%
----------------------------------------------------
78 80 2 104.0 0.010%
----------------------------------------------------
83 96 13 108.5 0.011%
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Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. Xemplar Energy Corp. seeks safe harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts
Simon Tam
Xemplar Energy Corp.
CEO and Director
(604) 687-4191
(604) 871-9926 (FAX)
Email: info@xemplar.ca
Website: www.xemplar.ca |
