Uranium Drilling Update
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Radioactivity
intersected on Gumboot property
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Namibia
drilling confirms exploration model
Pitchstone
Exploration Ltd. (TSX-V: PXP; "Pitchstone") has completed 4,263
meters of drilling in six holes in its ongoing 2009 winter program in the
eastern Athabasca Basin. Pitchstone has also completed 1,294 meters in
eight holes in its now complete Dome drilling program in Namibia.
Gumboot
Property
Two
holes have been completed on the Gumboot property and both intersected
significant radioactive zones associated with strong fracturing and alteration
in proximity to the unconformity. GB-05 intersected a 13 meter zone of
weak to moderate radioactivity, averaging 635 counts per second (cps; ~10X
background) as measured with a down-hole Mount
Sopris 2PGA-1000 probe,
beginning at a hole depth of 652 meters. Maximum radioactivity in this
interval was 2,100 cps (~35X background). GB-06 intersected moderate to
strong radioactivity averaging 2,850 cps (~50X background) over a 4.8 meter
interval beginning at a hole depth of 660 meters. Maximum radioactivity
measured with the down-hole probe in this interval was 12,000 cps (~200X
background). In both drill holes core recovery was good and samples are
being submitted for analyses. Two additional holes will be completed
during the current program.
Darby-Candle
Property
Two holes on Darby (54.5% Pitchstone, 45.5% Uranium One Inc. (TSX: UUU))
and two on Candle (41% Pitchstone, 34% Uranium One, 25% JCU (Canada)
Exploration Company, Limited) have been completed to test four separate
targets. On Darby, hole DB-37, an initial test of the 4C conductor,
intersected altered basal sandstone with weakly anomalous radioactivity, and
graphitic pelitic gneisses in the basement. DB-38 was drilled along trend
of the Cigar Lake
deposit. DB-38 intersected weakly anomalous radioactivity in the basement
associated with graphitic pelitic gneisses, similar to a previous hole,
confirming the potential of this target.
One
Candle hole (CD-36) was drilled on the 97H conductor and intersected faulted
graphitic basement 90 meters below the unconformity, suggesting a favourable
target up-dip where the graphitic unit would intersect the unconformity.
Hole CD-35, drilled to test the 97G conductor, did not intersect
significant radioactivity.
Dome
Property, Namibia
In
addition to drilling in the Athabasca
Basin, an initial drill test
of a R�ssing style, granite-hosted, uranium target on the Dome property
included 1,294 meters in eight holes. Several holes confirm the presence
of favourable Nosib Group stratigraphy, including meta-sediments interpreted to
belong to the R�ssing and Khan Formations. Weakly anomalous radioactivity
was observed in several holes and one intersected "alaskite" similar
to that which hosts uranium mineralization at R�ssing. Core has been
sampled and submitted for analyses.
Steve Blower, P.Geo.,
President of Pitchstone, is the Qualified Person for the purposes of NI 43-101
with respect to the technical information in this news release.
Pitchstone
is well funded and exploring for uranium in four proven districts. The property
portfolio features ten projects in the eastern Athabasca
Basin, Saskatchewan, five
of which are 100% owned. In addition, there are four joint
venture projects in the Hornby Bay Basin, Nunavut, an exploration
partnership in the Franceville Basin, Gabon, and an option on two projects in Namibia.
Pitchstone has a unique group of geologists with extensive uranium
exploration and production experience.
On
behalf of the Board,
E.A.G.
(Ted) Trueman, CEO & Chairman
For further information contact Claire Stewart at 604 630 5563, Mark
Brown, CFO, at 604 687 3520, or visit www.pitchstone.net.
The TSX Venture Exchange
does not accept responsibility for the adequacy or accuracy of this
release. This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. 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.
Claire Stewart
Office
Manager
Pitchstone Exploration
Ltd.
315 -
1100 Melville Street
Vancouver
BC V6E 4A6
Ph.: 604
630-5563
Fax: 604
630-5564
e-mail: cstewart@pitchstone.net
www.pitchstone.net