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November
09, 2007
NEWS
RELEASE
UTAH
URANIUM RECEIVES FINAL PERMIT, DRILL AND CREW MOBILIZED
Vancouver,
BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB:
E2L) announces that Utah Uranium Corp. (OTCBB: UTUC) has informed the Company
it has filed the requisite reclamation bond and is now in receipt of final
permits required for drilling the Pinto uranium property in East Central
Utah.
Pinto
Property Location Map:
http://www.consolidatedabaddon.com/i/maps/pinto-uranium-project.jpg
Having
received the final permits, a drill crew and rig are currently being
mobilized to the property, with drilling to commence early the week of
November 12th. Utah Uranium Corp. Technical Advisory Board
member and expert uranium geologist Mr. Christian (Ted) Murer is joining
other consulting geologists on site to assist in the overseeing of drilling
activities.
The
first phase drilling program will entail drilling of up to 20 holes out of a
permitted 50-hole drill program. Results of the first phase drilling
will be announced as received.
Pinto
Project Proposed Drill Hole Map:
http://www.consolidatedabaddon.com/i/maps/ABN_Pinto_Drill_Map.jpg
The
Pinto property consists of 344 mineral claims totalling approximately 7,000
acres located the Henry Mountain Syncline Basin of East Central Utah. The
property is the subject of a Joint Venture agreement between Consolidated
Abaddon and Utah Uranium Corp. Consolidated Abaddon has an option to earn up
to a 60% interest in the property by making payments to Utah Uranium Corp.
totaling $550,000 CDN, issuing a total of 550,000 shares to Utah Uranium
Corp., and by fully funding a total of $605,000 CDN in exploration and
drilling expenditures over the life of the agreement.
About
the Pinto Uranium Property:
Utah
Uranium Corp. acquired the Pinto claims from Christian (Ted) Murer P.Geo, the
prospector geologist who conceptualized, discovered and currently holds a
production royalty on the nearby Tony M Uranium Mine. Ted assembled the Pinto
uranium claim package using the same data and methodology in the identical
geologic setting as the Tony M and Bullfrog Uranium Mines on strike to the
south, targeting the down dip accumulation of uranium and vanadium within the
Salt Wash member of the Jurassic Morrison formation. The Morrison formation
is approximately 250-300 ft. thick in this area. Drilling depth to the
top of the Salt Wash will vary in depth from 50 to 150 ft. depending on dip
and topography. The
present plan is to define the north-south trend of uranium accumulations
within the various sands of the Salt Wash based on known uranium deposits in
the area and the applicable theories of mineral migration.
The potential of the Pinto claims,
the first claim block to undergo drill permitting, is for high grade (for the
area) uranium and vanadium deposits. Based on area extrapolations, the
deposits could hold significant amounts of uranium and vanadium.
The Henry Mountain Syncline is an
enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely
underlain by the massive uranium bearing Salt Wash sandstone member of the
Morrison formation. The hydraulic migration containing liberated uranium in
solution within oxygenated waters flow down-dip within the formation into the
trapped, oxygen free static waters within the basin, a reducing environment
which precipitates out ore grade uranium resulting in a zone of major ore
concentration, otherwise known as a roll-front environment.
The first discovery, known as the
Tony M Mine, was made in the 80’s by Plateau Resources, a division of
Michigan Light and Power and consists of 10,898,000 pounds of uranium.
Subsequently, the Bullfrog Mine was discovered adjacent and north of the Tony
M Mine by Imperial Oil Corporation, and consists of an additional 12,924,000
pounds of uranium. These mines are currently owned by Denison Mines
Corp. and are collectively known as the Henry Mountains
complex, one of the largest known uranium resources in the Colorado Plateau
district.
About Consolidated Abaddon Resources Inc.:
Consolidated Abaddon Resources
Inc. is a Canadian uranium exploration company actively involved with the
development of uranium properties in the ATHABASCA
BASIN of northern Saskatchewan,
SIMS BASIN
of western Labrador, and the ALGOMA DISTRICT of northwestern Ontario.
Property
partners include Denison Mines Corp. and Triex Minerals Corp.
For
further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN),
visit our Company’s web site at www.consolidatedabaddon.com.
About Utah Uranium Corp.:
Utah Uranium Corp. is a Moab, Utah
based junior exploration and development company focused on the acquisition
of past producing underground uranium mines, highly prospective new uranium
projects and other conventional and non-conventional energy projects.
All of the uranium projects acquired to date, in addition to those under
review by the company are within economic haul distances of the White Mesa
Uranium Vanadium Mill in Blanding,
Utah owned by Dennison Mines
Corp..
For
further information on Utah
Uranium Corp. (OTCBB: UTUC) visit their web site at www.utah-uranium.com ..
ON
BEHALF OF THE BOARD OF DIRECTORS
“Jim Pettit”
____________________________
JAMES
G. PETTIT
President
Issued and Outstanding
36.1 million shares
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