NEWS RELEASE � December 10, 2007
DUMONT NICKEL INC. (DNI : TSX-Ven, DG7 :
Frankfurt)
DUMONT DISCOVERS FIVE COLLAPSE FEATURES AT REDWALL
URANIUM PROPERTY, ARIZONA STRIP, ARIZONA
DUMONT NICKEL INC. (DNI:TSX-Ven, DG7:FSE) is
pleased to announce that, based on field verification work completed in
November, it has discovered five collapse features at its Redwall Uranium
Property, Arizona Strip, Arizona. The features are believed to be surface
manifestations of buried collapse structures which could be breccia
pipes.
Exploration of the Redwall Property commenced soon
after its acquisition announced in July, 2007. The Property is located in the
Arizona Strip region which is a well known corridor across northwest Arizona
hosting uranium-bearing solution?collapse "breccia pipes" which typically
manifest as subtle circular surface features or saucer shaped depressions. Over
20 million pounds of U3O8 were mined from the area during the 1970�s-1980�s from
high grade breccia pipes ranging 0.5%-0.8% U3O8, representing some of the
highest grading uranium deposits in the USA.
Based on initial work completed in September,
DUMONT identified a number of circular photo-anomalies on the Property which are
possible manifestations of buried breccia pipes (see press September 26, 2007).
More detailed, airphoto and remote imagery interpretation completed during
October identified an aggregate of 43 circular targets for ground follow-up, of
which 28 targets were examined by DUMONT field crews during November, leading to
the discovery of five collapse features. Based on surface geologic disturbances,
the collapse features discovered are believed to be surface expressions of
buried collapse structures which could be breccia pipes. The five collapse
features discovered have diameters ranging 100m to 200m.
Field verification of the 15 remaining targets
identified for ground follow-up is in progress and scheduled to be completed by
Christmas.
To date, nearly 200 surface samples have been
collected from the Property and sent for analysis, and approximately 11 line
kilometers of radiometric surveying have been completed.
Expectations are that, once all field verification
work has been completed and lab results are received, subsequent field work will
rely on drilling of the collapse features discovered to determine whether they
are uranium bearing breccia pipes. Future work may also be augmented with
geophysical surveys in advance of the contemplated drilling.
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this
release.
DUMONT is a mineral exploration company with
operations in Ontario, Utah, Nevada and Arizona. DUMONT is Operator of the Utah
Joint Venture which controls approximately 15 square miles of mineral properties
across the historic Clifton-Gold Hill gold-silver-copper Mining District. DUMONT
is assembling a portfolio of uranium exploration projects across established US
historic mining districts. DUMONT holds one of the most prospective land positions in the Attawapiskat Diamond area in the James Bay Lowlands, Ontario,
with a carried interest in the Dumont Joint Venture exploring the area through
Metalex Ventures Limited and others under the direction of Mr.Charles Fipke. All
of DUMONT's properties are being actively explored either directly by Dumont or
via joint venture.
DNI - TSX Venture
DG7 - Frankfurt
Issued:
104,798,010
Link to release on Canada Newswire:
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Dumont Nickel Inc
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EXPLORATION STAGE |
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CODE : DNI.V |
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ISIN : CA23327V1094 |
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Dumont Nickel is a nickel exploration company based in Canada. Dumont Nickel holds various exploration projects in Canada and in USA. Its main exploration properties are CANE SPRINGS and REDWALL URANIUM in USA and ATTAWAPISKAT DIAMOND PROPERTY, RATTLER, JAMES BAY LOWLANDS CLAIMS and TORNGAT in Canada. Dumont Nickel is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.9 millions as of today (US$ 1.5 millions, € 1.3 millions). Its stock quote reached its highest recent level on March 09, 2007 at CA$ 9.60, and its lowest recent point on December 30, 2015 at CA$ 0.06. Dumont Nickel has 29 590 000 shares outstanding. |