| | Published : July 30th, 2007 | reports Exploration/Drill Plans on Uranium Claims in CMB, Labrador |
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| Monday, July 30, 2007 Santoy Reports Exploration/Drill Plans on Uranium Claims in CMB, Labrador
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News Release: 07-20
Santoy Resources Ltd. (TSX.V:SAN) is pleased to announce that it has mobilized a field crew onto the Company's 100% owned Anomaly 7 property in the Central Mineral Belt of Labrador. This area will be further investigated by detailed prospecting, grid-based soil geochemistry and water sampling. A diamond drill program here this past spring yielded encouraging results from 12 out of 15 diamond drill holes at the 2006 Fish Hawk Lake discovery, as reported in a June 5, 2007 news release. The potential of this zone is illustrated by hole FHLS-07-03 which yielded 27.88 metres averaging 0.063% U3O8 including a 4.5 metre interval grading 0.181% U3O8.
Further prospecting, water sampling, and soil geochemical grids will also be applied to other areas of the property where previous lake sediment sampling by Santoy returned a number of highly anomalous results. Efforts will be focused along favourable structural directions known to be prospective for uranium, as demonstrated by the E-N-E trending Fish Hawk Lake and Anomaly 7 zones, and the N - S trending Two Time Zone where Silver Spruce Resources and Universal Uranium recently reported positive drill results. The southern extension of this zone may trend onto Santoy's ground.
Santoy is also pleased to provide an update on its other properties in the Central Mineral Belt.
Mustang Lake
On the Mustang Lake property (part of a 50:50 JV with Mega Uranium Corp.), archeological and baseline environmental surveys have now been completed. Drill permit applications have been submitted and Cartwright Drilling has been contracted to undertake a 2,000 metre program, aimed at testing extensions of the mineralized zone intersected in hole SP-06-10 (9.11 m grading 0.12% U3O8), see news release dated July 12, 2006. The Mustang Lake property is 8 km northeast of and along strike from Aurora Energy's Michelin deposit.
Bruce River
An extensive water sampling program is underway on the Bruce River property. These claims are also part of a 50:50 JV with Mega Uranium. Approximately 4,000 water samples will be collected from streams, seepage zones and small ponds. This type of geochemical survey has been found to be highly effective at providing evidence of subcropping uranium mineralization in other areas of eastern Canada.
This survey will be augmented by prospecting and lake sediment sampling in selected areas to complete the program previously initiated by Santoy Resources. The properties are in the core of the Central Mineral Belt adjacent to Crosshair's Moran C deposit.
The Qualified Person, as defined by National Instrument 43-101, responsible for the technical data in this news release is Ron Nichols, P. Eng.,Vice-President of Exploration.
About Santoy Resources
Santoy Resources Ltd. is a Canadian mining exploration company focused primarily on the energy sector. Emphasis is being placed on uranium projects in British Columbia, Saskatchewan, Manitoba, Otish Mountains of Quebec and the Central Mineral Belt of Labrador; and on coal and coal bed methane in Western Canada. A description of our properties, including maps and photographs can be viewed on the Company's website at www.santoy.ca. Santoy is well funded with $13.5 million in the treasury.
On Behalf of the Board of Directors
SANTOY RESOURCES LTD.
"Ron Netolitzky"
Ron Netolitzky, President
Cautionary Statement on Forward-Looking Information
The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For further information contact:
Ron Netolitzky or Tony Perri - Investor Relations, Manager
Suite 611, 675 W. Hastings Street Vancouver, British Columbia, Canada V6B 1N2
Tel: (604) 669-4799 Fax: (604) 669-2543 Website: www.santoy.ca
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Virginia Energy Resources Inc.
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DEVELOPMENT STAGE |
CODE : VAE.V |
ISIN : CA9278051011 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Virginia Energy is a gold and cobalt exploration company based in Canada. Virginia Energy develops gold, cobalt and uranium in USA, and holds various exploration projects in Canada. Its main asset in development is COLES HILL PROPERTY in USA and its main exploration properties are ALIMAK/DECADE, RKN/GOLDEN HEART AREA, KASMERE LAKE, HAZEMPA LAKE, FIR ISLAND, PATTYSON LAKE, DOWLER LAKE, KARPINKA LAKE, THE BOW RIVER, ATHABASCA WESCAN SANTOY JV, OTISH, HAWK RIDGE, BLIZZARD, HATCHET LAKE, MUSTANG LAKE and BINGO in Canada. Virginia Energy is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 8.0 millions as of today (US$ 7.2 millions, € 5.2 millions). Its stock quote reached its highest recent level on February 23, 2007 at CA$ 8.00, and its lowest recent point on April 17, 2009 at CA$ 0.07. Virginia Energy has 57 230 614 shares outstanding. |
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