HUNT FOR HIGH GRADE URANIUM SOURCE STARTS ON PATTERSON LAKE SOUTH JV, SASKATCHEWANESO 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 that all permits for a programme of drilling, trenching and ground geophysical surveys has been received. Work has started in the search for the bedrock source of a large uranium boulder field discovered by the Joint Venture in June 2011 (see news release dated July 27, 2011). This work includes:
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Definition of local ice transport directions (underway)�
MaxMin EM surveys to re-locate historical conductors on the ground�
Resistivity survey to identify potential basement alteration zones�
Drilling to locate radioactive debris in glacial till from basement sources�
Drilling of high grade basement targets The uranium boulders discovered in June were all associated with basement rocks, schists, psammites and granulites, and not Athabasca sandstones or conglomerates. These boulders were plucked from a basement source by ice scouring Archean basement rocks.
The target area is within a defined window of Archean rocks that are buried by 50-60 meters of till cover. The window was opened by glacial scouring along the southern edge of the Athabasca basin that also removed some of the younger Cretaceous cover. The programme is targeting high grade uranium deposits hosted in basement rocks, similar to those deposits found in the lower parts of the Shea Creek deposit (60 kms (40 miles) north of Patterson Lake) and the Millenium, Key Lake and Roughrider mega-deposits in the eastern Athabasca Basin. The 5 km length of the boulder field and distinct clusters of associated geochemical values in the boulder field suggest more than one source for the boulder field.
Drill targetshave been selected, subject to modification by information from this new work program. The targets were determined by a review of technical data, including geophysical surveys and parameters suggested by
Diamond drill hole information in assessment reports presented by Canadian Occidental in the late �70s. The geophysical data indicate several strong ground EM conductors on the east side of Highway 955 in the Patterson Conductor Corridor. The conductors appear to have been disrupted by non-conductive structures crossing them. The breaks in the conductors are also associated with a magnetic low that could be interpreted as an alteration feature. This sector of the Patterson Conductor Corridor lies about 3 kms northeast from the centre of the boulder field where some of the larger boulders were located.
The drill hole data available include geological logs and down-hole radiometric surveys. One hole, CLU-12-79 on the north side of the target area, showed two short intervals of sharply anomalous radioactivity in the basement rocks intersected. This hole also has a thicker section of regolith than other holes in the area which may reflect local hydrothermal alteration. These observations suggest possible proximity to mineralization.
The Patterson Conductive Corridor runs along the boundary zone between the Clearwater and Western Granulite Domains. According to assessment reports submitted by SMDC, the Crown Corporation predecessor company of Cameco (TSX:CCO), this is interpreted to have had a favourable geological history, analogous to the highly productive Wollaston Domain along its boundary with the Mudjatik Domain in the East Athabasca Basin.
An updated drill location map for the Patterson Lake South Property can be found on the Company�s website at
www.esouranium.comB.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.
�Ben Ainsworth� Vice President, Exploration
For corporate communications please contact:
Robert (Bob) Meister
ESO Uranium Corp.
Vancouver, BC
Phone: (604) 629-0293
Toll Free: 1-866-629-8368
Email:
info@esouranium.com 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.