Candle 97G Zone Drill Hole Assays
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4.18% U3O8
over 0.2 m
core length
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Drilling ready to resume
Pitchstone
Exploration Ltd. (TSX-V: PXP; “Pitchstone”) is pleased to report
assay data for a previously noted zone of radioactivity in drill hole CD-25 in the 97G Zone on the
Candle property (April 2, 2008 News Release).=A0 Candle, located between
McArthur River and Cigar Lake mines in the eastern Athabasca Basin, is a joint
venture between Pitchstone (operator; 37.5%), Uranium One Inc. (TSX: UUU;
37.5%) and JCU (Canada) Exploration Company, Limited (25%).
A 0.5 m core length from 655.3
to 655.8 m
in diamond drill hole CD-25 averaged 1.91% U3O8,
including 0.2 m
that contained 4.18% U3O8.=A0
CD-25,
collared at -81=B0, intersected the unconformity between Athabasca Group
sandstone and basement rocks at a down hole length of 631.3 m.=A0 The highest
grade portion of the mineralization occurs as a discrete, narrow vein in the
basement, with a true thickness of approximately 5 cm, within a 58 m length of weakly argillic
altered pelitic gneiss, semi-pelite and anatexite from 652 to 710 m.=A0 Many other metallic
elements are anomalous in the radioactive interval, including molybdenum,
silver and lead. =A0
CD-25 is the
only hole drilled along strike north of the mineralization intersected in hole
CD-14 in
2007 (0.31% U3O8 over 3.2 m; July 25, 2007 News
Release).=A0 Additional drilling will be required to follow up on these
results.=A0 The drill is on the Darby-Candle property and crews are currently
mobilizing in preparation for a resumption of drilling.
Steve
Blower, P.Geo., Vice President of
Exploration for Pitchstone, is the Qualified Person for the purposes of NI
43-101 with respect to the technical information in this news release.=A0
Sample preparation and analyses were done by SRC Geoanalytical Laboratories, Saskatoon.=A0 A partial
digestion with fluorimetric analysis was used for initial uranium determinations,
and then all samples containing greater than 100 ppm uranium were re-analyzed
with ICP.=A0 Pitchstone utilizes internally and externally submitted standard
reference materials for quality assurance and quality control of the sample
preparation and analyses.
Pitchstone
is actively exploring for uranium in four proven districts. The property
portfolio features ten projects in the eastern Athabasca Basin, Saskatchewan, five
of which are joint ventured with Uranium One Inc. and five being 100% owned.=A0
In addition, there are four joint venture projects with Triex
Minerals in the Hornby Bay Basin, Nunavut, an exploration partnership with
Cameco and Motapa Diamonds in the Franceville Basin, Gabon, and an option on
three projects in Namibia.
=A0Pitchstone has a unique group of geologists with extensive uranium
exploration and production experience.
On behalf of
the Board,
E.A.G. (Ted)
Trueman, CEO and Director
For further information contact:=A0 Steve Blower, VP Exploration, (604)
630 5563,
Mark T. Brown, CFO, (604) 687 3520, or see =A0www.pitchstone.net
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy of
this release.=A0 This news release may contain assumptions, estimates, and
other forward-looking statements regarding future events.=A0 Such
forward-looking statements involve inherent risks and uncertainties and are
subject to factors, many of which are beyond Pitchstone’s control, that
may cause actual results or performance to differ materially from those
currently anticipated in such statements.
