ESO Uranium to Commence $2.76M Winter Program at Patterson Lake South JV, Saskatchewan
Trading Symbol TSX-V – ESO
Frankfurt – E2G
VANCOUVER, Jan. 16, 2012 /PRNewswire/ – ESO Uranium Corp. (TSX-V: ESO), (the “Company” or “ESO”) and its 50% Joint Venture (JV)
partner Fission Energy (TSX-V: FIS), are pleased to announce the start
of a $2.76M, 33 hole winter drill program at their PLS Property. The
winter drill program, a follow-up to the November drill program (see
news release dated November 9, 2011 and update below) will include
Sonic and/or RC Drilling, Core Drilling, and Airborne and Ground
“We feel that the encouraging results to date at the PLS property
have warranted an aggressive exploration program for this winter. We
believe that this program presents an excellent opportunity to locate
the bedrock source of the high grade uranium boulders discovered in
June 2011.” Commented Garrett Ainsworth, Project Manager. Further information on
the winter program will be provided.
The following is an update to the drill program at the PLS Property,
which began in November, 2011. This program tested 75 – 108 meters (m)
of overburden through to the basement rocks on the “up-ice” side of the
high grade uranium boulder field discovered in June 2011, in an effort
to locate radioactive till sheets in the overburden and to determine
the extent of Cretaceous on-lap over the basement rocks.
Seven vertical diamond drill holes (PDD11-01 to 07) totaling 838m using
HWT and NW casing through the overburden were completed and surveyed
with a Mount Sopris downhole 2PGA-1000 gamma probe (see Table 1).
Background radioactivity in the overburden ranged from 0 to 20 cps.
Drill holes PDD11-06 and 07 showed anomalous radioactivity in
overburden intersections from 64.4m to 70.0m (maximum peak of 400 cps)
and from 49.6m to 58.2m (maximum peak of 90 cps), respectively.
PDD11-07 was located between PDD11-06 and the area of radioactive
boulders trenched in October, 2011. The shallower depth of the
anomalous radioactivity in PDD11-07 could be consistent with a
semi-continuous till sheet dipping to the northeast towards a possible
up-ice bedrock source for the uranium boulders. Further drilling will
be required to determine if these initial results represent an
intersection of the radioactive till sheet being sought. PDD11-03
intersected graphitic metapelitic basement rocks. Noteworthy, the
unconformity was intersected between 10-20m deeper than nearby adjacent
PDD11-02 and 04 and may reflect a basement fault off-set. Basement
faulting and graphitic metapelites are often seen as key ingredients
associated with structurally controlled uranium mineralization in this
* Anomalous Radioactive DrillHole Overburden(>80 cps) Total From- CPS Depth Unconformity Altered Basement To Width Max (m) HoleID Az Dip Depth(m) Regolith Lithology (m) (m) Peak Granitic PDD11-01 0 -90 85.4 - Gneiss - - - 107.6 Granitic PDD11-02 0 -90 75.0 - Gneiss - - - 111.0 Graphitic PDD11-03 343 -83 93.0 - metapelite - - - 120.0 PDD11-04 0 -90 96.4 - Granulite - - - 117.0 87.7 - PDD11-05 0 -90 87.7 103.6 Granulite - - - 132.0 64.4 108.0 - - PDD11-06 0 -90 108.0 EOH Gneiss 70.0 5.6 400 133.1 49.6 107.9 - - PDD11-07 0 -90 107.9 EOH Gneiss 58.2 8.6 90 107.9
Core samples from basement rocks and clay alteration samples were
collected and have been sent to SRC for multi-element analysis and
Northwind Resources Ltd. for PIMA spectral analyses to determine select
clays and associated minerals for comparison with typical alteration
assemblages associated with uranium mineralization in this geological
Each drill hole is surveyed downhole for radioactivity with a Mount
Sopris 2PGA-1000 Gamma/SP probe. Samples have been submitted to SRC
Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited
Facility) of Saskatoon for analysis, which include a 63 element
ICP-OES, uranium by fluorimetry (partial digestion). Assays will be
reported when available.
PLS is a 50%/50% Joint Venture held with FISSION Energy (FIS). Patterson
Lake South is accessible by road with primary access from all weather
Highway 955, which runs north to the former Cluff Lake mine, (>60M lbs
of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek
discoveries located 50km to the north, currently under active
exploration and development.
An updated Patterson Lake South Property map, with drill locations, can
be found on the Company’s website at www.esouranium.com
B.Ainsworth P.Eng. SK/BC is the Qualified Person responsible for the
technical disclosure contained in this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
Vice President, Exploration
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. NEITHER TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADDEQUACT OR ACCURACY OF THIS RELEASE.
This news release includes certain statements that express management’s
expectation or estimates of future performance and may be deemed
“forward-looking statements”. These forward-looking statements include
plans, estimates, forecasts and statements as to management’s
expectations regarding the Patterson Lake Property. These
forward-looking statements involve assumptions, risks and uncertainties
and actual results may vary materially. For these reasons shareholders
should not place undue reliance on such forward-looking information.
United States residents are cautioned that some of the information that
may be published by ESO Uranium Corp. may not be consistent with United
States Securities and Exchange Commission disclosure rules and may be
materially different from what the Company is permitted to disclose in
the United States and therefore United States residents should not rely
on such information.
SOURCE ESO Uranium Corp.