Xemplar Receives Further Uranium Assays From the Warmbad Drill Program
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 21, 2008) – Xemplar Energy Corp. (TSX VENTURE:XE)(FRANKFURT:E7R)(NAMIBIA:XEM) (“Xemplar” or “the Company”) is pleased to provide further drill hole assay results from its ongoing Warmbad uranium exploration project in Namibia.
The Company has expanded its drilling program to continue the systematic evaluation of all of these alaskitic bodies on the Warmbad project. There are currently 8 drills at work. The assay results of significance from 13 drill holes are shown in the tables below: ———————————————————– Big Yellow Centre ———————————————————– ______________________________________________________Grade Hole ID__________From(m)______To(m)__Width(m)__(ppm U3O8)(i) ———————————————————– RCBY0022__________66.39______93.82____ 27.43________ 148.36 Including________ 70.96______75.53______4.57__________193.8 Including________ 89.25______92.30______3.05__________210.6 ———————————————————– RCBY0028__________ 8.35______23.59____ 15.24________ 102.75 ________________ 133.32____ 136.37______3.04________ 102.09 ________________ 160.75____ 166.85______6.09________ 112.70 ———————————————————– RCBY0030__________78.00______82.00______4.00________ 102.75 ———————————————————– ———————————————————– Big Yellow East ———————————————————– ______________________________________________________Grade Hole ID________ From(m)______ To(m)__Width(m)__(ppm U3O8)(i) ———————————————————– RCBYE0025________ 23.00______30.00______7.00__________198.1 __________________38.00______43.00______5.00__________107.0 ________________ 137.00____ 138.00______1.00__________205.8 ________________ 141.00____ 145.00______4.00__________141.8 ________________ 147.00____ 150.00______3.00__________123.6 ———————————————————– ———————————————————– Aluriesfontein ———————————————————– ______________________________________________________Grade Hole ID__________From(m)______To(m)__Width(m)__(ppm U3O8)(i) ———————————————————– RCALU0006________ 41.00______45.00______4.00__________123.0 ———————————————————– RCALU0016__________2.00______35.00____ 33.00__________107.0 Including__________2.00______ 7.00______5.00__________216.6 __________________64.00______68.00______4.00__________103.6 ________________ 146.00____ 159.00____ 13.00__________108.5 ———————————————————– RCALU0021________ 40.00______43.00______3.00__________121.0 ———————————————————– RCALU0022__________8.00______16.00______8.00__________108.4 __________________23.00______37.00____ 14.00__________108.3 __________________41.00______51.00____ 10.00__________102.1 ———————————————————– RCALU0025________ 75.00______89.00____ 14.00__________116.1 ________________ 103.00____ 116.00____ 13.00__________191.0 Including________110.00____ 116.00______6.00__________318.0 ________________________________________________ 50% assays ____________________________________________ from RCALU0025 ______________________________________________________still ________________________________________________outstanding ———————————————————– RCALU0029__________6.00______ 8.00______2.00__________124.0 __________________12.00______14.00______2.00__________174.5 __________________34.00______38.00______4.00__________196.0 __________________46.00______53.00______7.00__________235.1 __________________85.00______88.00______3.00__________223.0 __________________92.00______95.00______3.00__________185.6 ________________ 129.00____ 134.00______7.00__________150.6 ———————————————————– RCALU0030__________0.00______ 2.00______2.00__________159.5 __________________69.00______71.00______2.00__________136.0 __________________73.00______78.00______5.00__________101.0 __________________90.00______92.00______2.00__________122.0 ________________ 131.00____ 133.00______2.00__________131.5 ________________ 138.00____ 141.00______3.00__________133.6 ________________ 153.00____ 155.00______2.00__________157.0 ———————————————————– RCALU0031__________5.00______17.00____ 12.00__________161.1 ________________________________________________ 50% assays ____________________________________________ from RCALU0031 ______________________________________________________still ________________________________________________outstanding ———————————————————– RCALU0039________ 12.00______14.00______2.00__________121.0 __________________21.00______31.00____ 10.00__________195.0 ________________ 103.00____ 107.00______4.00__________126.0 ________________ 126.00____ 137.00____ 11.00__________103.0 ________________ 156.00____ 197.00____ 41.00__________138.1 ———————————————————–
These results, coupled with previous drill holes of significance that were reported on February 4, 2008 and June 18, 2008, are very encouraging as they confirm (a) wide zones of uraniferous granite (alaskite) at depth and (b) that the geologic model adopted by Charles Johnston, Xemplar’s Chief Geologist and Exploration Manager, and his team is proving highly successful in prioritizing project drill targets. The prioritization of drill targets is founded upon an enhanced understanding of the underlying geology of the Warmbad alaskite bodies.
These early-stage drilling results show that the alaskites are relatively thin-sheeted leucogranites which were layered within the country rocks of the Namaqua metamorphic complex. Not all of the alaskites are mineralized, but the geological groundwork and the drilling continue to confirm the widespread uranium mineralization on the property.
In other developments, an additional 2 geologists have been hired, which will contribute to accelerating the exploration program at Warmbad. With the recent new hires, there are 10 geologists working under Charles Johnston.
Year-round drilling at Warmbad continues as the company remains on target with its objective of drilling over 40,000 metres by the end of 2008.
About Xemplar Energy Corp.
Xemplar Energy Corp., a Canadian-based company focused on uranium exploration in Namibia. The Company holds a 100% exploration rights in uranium properties in the Engo Valley, Cape Cross, Aus-Garub and Warmbad regions through its wholly owned subsidiary Windhoek, Namibia-based Namura Mineral Resources Pty. The Company currently holds Exploration Prospecting Licenses (EPL) for its Cape Cross, Aus and Warmbad properties and is waiting to be awarded EPLs for its Engo Valley and Garub properties. With the current EPLs that it holds, it is the largest uranium exploration license holder in Namibia. Upon being awarded the outstanding EPLs, the Company will possess a land package covering nearly 10,000 KM2, further strengthening the Company’s dominant land position.
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 in a province where the potential of a significant uranium occurrence is being developed. 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 overlap each other. Of these, the Aluriesfontein is the largest, covering 36 square kilometres. Alaskitic rocks also host the Rossing mine in Namibia, which contributes 7 per cent of the global uranium production.
(i) About Uranium Grades
Uranium grades are typically reported in Parts Per Million (PPM) or as a percentage. As a point of reference, 0.01% Uranium is equivalent to 100PPM or 100 grams per ton of ore material (metric). The uranium typically found in Namibia is considered to be low grade, as at the Rossing Mine, the third largest uranium mine in the world. The uranium grades from holes of significance that have been reported from the Warmbad project are consistent with the grades at a number of other uranium deposits found in Namibia. Please refer corporate presentation found on www.xemplar.ca for more information on uranium grades.
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,
Simon Tam, CEO and Director
Xemplar Energy Corp.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward looking statements that are not historical facts and are subject to risks and uncertainties which could cause actual results to differ materially from those set forth in or implied herein.
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