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ESO Uranium Corp. (“ESO” or “the Company”) ESO:TSX-V announces that exploration is now underway on its western Athabasca Basin uranium project in northern Saskatchewan.
Cluff Project
The winter program will initially focus on the Cluff Project where six drill holes averaging 200-300 meters deep will test the "Gorilla Lake" zone. Previous exploration in this area in 1979 encountered an intercept grading 0.85% U308 over 2.3 meters in hole CAR 425 (see map). Road clearing and site preparation is underway with camp and crew arriving by the end of the week. Drilling is planned to start the following week. The claims underlying the Gorilla Lake zone, totaling approximately 18,000 acres, are the subject of a 50/50 joint venture between the Company and Logan Resources Ltd. (TSX-V: LGR)
The Cluff Project covers over 160,000 acres in the western Athabasca Basin and surrounds the former producing Cluff Lake mine which produced approximately 65 million lbs of U308 during its lifetime. The project is located approximately 11 kms northwest of the Shea Creek project currently being developed by UEX/COGEMA, who reported an intersect of 27.4% U308 over 8.8 metres on July 13, 2005. ESO’s recently flown Megatem geophysical survey has confirmed that conductors associated with the Shea Creek discovery extend onto the Company’s claims. The Cluff Project is considered to be a highly prospective target for the discovery of a commercially viable uranium deposit as evidenced by the presence of U308 in a previous drill hole, the occurrence of uraniferous surface boulders containing up to 19.3% U308, its proximity to the Cluff Lake Mine and the Shea Creek discovery.
A detailed review of the structure of the Gorilla Lake zone has been interpreted by ESO’s technical team as being near vertical and it is believed that past drilling, which was all vertical, could have missed larger uraniferous zones. By drilling angled holes ESO’s objective is to obtain wider, more representative uranium bearing intercepts. Upon completion each drill hole will be probed for its radioactive content and the core logged, sampled and submitted for geochemical analysis.
About ESO Uranium Corp.
ESO Uranium Corp., a Vancouver based mineral resource company, is actively exploring for uranium in the Athabasca Basin in Saskatchewan and for gold in the Casa Berardi deformation zone in Ontario. The Company is well financed with over $6 million in its treasury.
The Company controls in excess of 860,000 acres of mineral claims in the Athabasca Basin making it one of the largest land holders in the world’s most prolific uranium producing region. ESO is also exploring for gold on the Mikwam project located along the western extension of the Casa Berardi deformation zone in Ontario.
Jonathan George, Geologist is the Qualified Person responsible for this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
“Jonathan George”
CEO, President and Director
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management. Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. The historical information contained in this news release was obtained from reports prepared prior to the implementation of NI 43-101. Though the Company has no reason to doubt the accuracy of this information, readers should use caution when considering such information and should not place undue influence upon such.
This press release was issued through GroupWeb EmailWire.Com via PRZOOM-NewswireToday
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