Pancontinental Uranium Corp.

Published : August 11th, 2007

Centram Exploration completes Charley Creek Survey

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Keywords :   Australia | Burkina Faso | Canada | Copper | Gold | Iron | London | Uranium |


Dear Centram followers,

Please find below today's press release describing our progress in Australia and Africa and an update on the name change process. 

It is very encouraging to see the Chilling project in the Northern Territories advancing so quickly and positively; initially we thought that real work there might not start for another couple of months due to weather. This is "elephant country", and the reported surface results, being close to the unconformity, has generated a lot of excitement within the team. I'd also like to point out that the progress in Burkina Faso is remarkably fast as well, as the effort to build a significant Uranium property package began in March of 2007, only four months ago.

The name change process is important as we are constructing a new website and have committed to attend an International Uranium Conference in London, September 17 where we will launch the newly "branded" company (Pancontinental Uranium Corp. or Pancon) and then begin expanding our investor audience aggressively.

Finally, it appears the share price has responded quickly to the news that the $0.60 warrants from the spring financing will expire at the end of August. The general turmoil in the markets has obviously contributed as well. I believe this company is stronger and better positioned for success than it has ever been and fully expect 2007 to include significant successes for our shareholders.

Please call me at 1-866-816-0118 if you have any questions at all or would like to discuss our plans.

Best regards,


Rick Mark

President and CEO.

Centram Exploration Ltd 

Centram Exploration completes Charley Creek Survey

August 10, 2007

Centram Exploration Ltd. is providing an exploration update on the uranium properties held in joint venture with Crossland Uranium Mines Ltd. of Australia. Centram is earning a 50-per-cent interest in Crossland's significant uranium project portfolio in Australia through the expenditure of $8-million (Australian).

Chilling project, Northern Territory (100 per cent)

Crossland holds exploration licences in the Chilling district covering over 100 kilometres of continuous structures that extend from the Rum Jungle mineral field, site of Australia's first major uranium mining project in the 1950s, in a setting which Crossland believes is favourable for unconformity-related uranium deposits. This deposit style accounts for all of Canada's newly mined uranium, as well as most of Australia's past production, including that from Australia's largest producer, Ranger.

Initial prospecting during the current quarter has resulted in elevated radioactivity readings at the Chilling uranium exploration project in the Northern Territory, Australia. Ground access has been possible throughout the Chilling project since mid-June, and prospecting of known uranium occurrences is under way in advance of the airborne survey, expected to be flown in September. Mapping at the Mema uranium prospect, discovered in the 1980s, has begun.

Secondary uranium minerals, notably meta-torbernite, occur in outcrop in a vein system in granite. This zone is several metres wide and can be traced in scattered outcrops over at least 170 metres from the granite to its intrusive contact with Lower Proterozoic metasediments which are also mineralized. The structure continues to the east, in the direction of the unconformity with younger Proterozoic sandstone cover, but this area has not yet been prospected.

Radiometric prospecting around the Mema prospect has located several previously unrecorded radiometric spot highs, with counts of over 1,000 counts per second on an Exploranium GR110 scintillometer, over graphitic Lower Proterozoic metasediments and other altered metapelites, both with limited outcrop. Spectrometer readings suggest that the radioactivity is due to uranium daughter products. Samples are being collected for chemical assay to confirm this, and the tenor of uranium content.

The presence of uranium mineralization in outcrop in vein structures, and the discovery of elevated radioactivity associated with altered and graphitic metapelites in basement rocks lend support to the concept used by Crossland to select the Chilling project, specifically, that the Chilling district might host a western mirror image of the Alligator Rivers uranium field (ARUF) on the east margin of the Pine Creek orogen.

The ARUF hosts over 300,000 tonnes of U3O8 (having an in situ uranium value exceeding $60-billion (U.S.) at current prices) in medium- to high-grade deposits similar to some of those in the Athabasca basin of Saskatchewan.

The characteristics that are being observed by Crossland in the basement terrain are positive for exploration both within the basement, and in suitable structures at the unconformity with the overlying sandstone cover.

Charley Creek, Northern Territory (100 per cent)

An airborne electromagnetic survey has been completed over approximately 400 line kilometres at Charley Creek. This survey has covered the area where channels draining the highly radioactive Teapot granite are expected. These channels may contain either calcrete-related or redox-related uranium deposits. The AEM survey will aid greatly in targeting the channels for drill testing. Results of this survey and a detailed radiometric and magnetic survey over the entire project area are expected to be available during the third quarter.

Kalabity, South Australia (Crossland earning 60 per cent)

The Kalabity area contains the KR4 prospect, an example of granite-related davidite uranium mineralization similar to the ore worked at Radium Hill, and it also has received considerable past exploration that has produced numerous leads for follow-up. There are targets for several styles of deposits, including the iron oxide copper-gold style such as Olympic Dam and Prominent Hill in similar geological terrain in South Australia.

A detailed radiometric and magnetic survey was completed at Kalabity, and results were received during the June quarter. The quality of the data is considerably better than that available from previous surveys. The survey clearly reveals the KR4 prospect, as well as other areas worth ground checking. Interpretation of the data is under way.

On-the-ground exploration will commence the week of Aug. 13 and will consist of follow-up of radiometric anomalies from the airborne survey and calcrete sampling around existing promising results as a first pass.

Crosscontinental Uranium Ltd. (Centram/Crossland 50/50)

Centram and Crossland have established Crosscontinental Uranium, a private Canadian company, to which each party will initially contribute $2-million (Australian) to explore for uranium outside Australia. Crosscontinental is monitoring several opportunities to become involved in foreign uranium projects, in various nations.

Crosscontinental, through a local subsidiary, has applied for a number of exploration areas in Burkina Faso, West Africa; two of the permits have already been granted. An exploration program has been planned with locally based consultant advisers, and exploration is due to commence in September.

Qualified person

The review of exploration activities and results contained in this report are based on information compiled by Geoffrey Eupene, CP, a fellow of the Australasian Institute of Mining and Metallurgy. Mr. Eupene is the designated qualified person for the joint venture exploration activity. He is a director of Centram and Crossland and is a full-time employee of Eupene Exploration Enterprises Pty. Ltd. Mr. Eupene has reviewed this press release.

Change of name to Pancontinental Uranium Corp.

At the recent annual general meeting of shareholders, Centram received shareholder approval to change the name of the company to Pancontinental Uranium (symbol -- PUC). The company is currently preparing documentation for submission to the regulatory authorities for approval to effect the name change.

We seek Safe Harbor.


Data and Statistics for these countries : Australia | Burkina Faso | Canada | All
Gold and Silver Prices for these countries : Australia | Burkina Faso | Canada | All

Pancontinental Uranium Corp.

ISIN : CA69834A1049
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Pancontinental is a uranium exploration company based in Canada.

Pancontinental holds various exploration projects in Australia and in Honduras.

Its main exploration properties are CHILLING, KALABITY, CROSSLAND CREEK and CHARLEY CREEK in Australia, OURSI in Burkina Faso and RIO RICO (CASAS DE VIEJAS) in Honduras.

Pancontinental is listed in Canada. Its market capitalisation is CA$ 2.5 millions as of today (US$ 2.0 millions, € 1.7 millions).

Its stock quote reached its highest recent level on November 05, 2010 at CA$ 0.79, and its lowest recent point on December 11, 2015 at CA$ 0.01.

Pancontinental has 99 510 000 shares outstanding.

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Financings of Pancontinental Uranium Corp.
10/30/2012Pancon Completes First Tranche of Financing
4/27/2011Pancon Announces Private Placement to Raise Up to $3,120,000
Option Grants of Pancontinental Uranium Corp.
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Project news of Pancontinental Uranium Corp.
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1/30/2013(Charley Creek)Scoping Study at Charley Creek REE Project Due at End of Feb...
7/13/2011(Charley Creek)Encouraging Results From Alluvial Rare Earth Exploration Pro...
4/19/2011(Charley Creek)Pancon Updates Charley Creek REE Project, NT. Australia
3/10/2011(Charley Creek)High Value Rare Earth Elements ("REE") Stream Sediment Resul...
Corporate news of Pancontinental Uranium Corp.
7/24/2015July 15, 2015 Pancon and Essential Mining Resources Extend C...
4/1/2015Pancon Receives Deposit as Part of the Sale of its Interest ...
1/15/2015Pancon to Sell Its Interest in the Crossland Joint Venture
10/22/2013(Charley Creek)Drilling Program Targeting Higher-Grade Starter Pits to Comm...
10/10/2013Clarifies Disclosures
8/7/2013Pancon's JV Partner, Crossland, Announces New Director / Sub...
1/14/2013(Charley Creek)Crossland Appoints Dr. Tony Chamberlain as Chief Operating O...
10/25/2012(Charley Creek)Charley Creek REE Project Scoping/Preliminary Economic Asses...
9/19/2012Outstanding Results as Crossland/Pancon Completes Initial He...
12/16/2011ASX Announcement - Malta
4/5/2011(Charley Creek)Crossland Recommences Drilling at Charley Creek, NT, Austral...
3/15/2011Crossland CEO, Geoff Eupene, Interviewed on REE Results and ...
5/26/2009Big Money, Small Uranium Sector
2/14/2008Provides 2008 Exploration Plan for its Australian Properties
9/27/2007presents a Shareholders Update from Crossland Uranium
8/11/2007Centram Exploration completes Charley Creek Survey
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