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Pitchstone Drilling Intersects Radioactivity in Namibia

 

         Wide Spaced Reconnaissance Drilling Completed at Dome North

         Significant Radioactivity over 2.2 m in Calcrete

         Planned 20 holes expanded to 37 holes

 

 

Pitchstone Exploration Ltd. (TSX-V: PXP; "Pitchstone") is pleased to provide an update on a reverse circulation (RC) drilling program on the Dome property in Namibia.  The program was completed in early September with a total of 734 meters drilled in 37 holes.  The project is a uranium exploration joint venture between Pitchstone (58%) and private company Manica Minerals Ltd. (42%) through Manica's wholly-owned subsidiary Cheetah Minerals Exploration Ltd.  The property location relative to the R�ssing and Langer Heinrich uranium mines, and other uranium occurrences in the western Namibian uranium district, is illustrated on a map on the company website at www.pitchstone.net.    

 

RC drilling at Dome North was designed to provide an initial test of a 3 x 7 kilometer area considered to be prospective for calcrete style mineralization similar to that at Langer Heinrich.  Calcrete was intersected in all but one of the 37 holes drilled, with thicknesses ranging between 1 and 21 meters.  Several target areas were tested, including:

 

         An area of recently discovered surface uranium mineralization,

         Radon anomalies,

         Interpreted paleochannels based on ground electromagnetic geophysical surveys.

 

Significant radioactivity was observed in down hole gamma probe results in two drill holes, one of which (DN-11) was in the immediate area of previously discovered surface mineralization with grab samples up to 0.19% U3O8 (see April 21, 2009 news release).  The other (DN-23) was located 700 meters from the area of surface mineralization.  The intersection in DN-23 is particularly encouraging due to the thickness and level of radioactivity in the zone.  Radioactivity in DN-23 is open in all directions as the nearest drill hole is 380 meters away.  Radioactivity in holes DN-11 and DN-23 are summarized in the table below. 

 

Hole-ID

From (m)

To (m)

Length (m)

Radioactivity*

(average/maximum)

Radioactivity

(x Background)

DN09-11

0.23

0.93

0.70

1242 / 1878

12

DN09-23

6.73

8.93

2.20

1395 / 3143

14

incl.

6.78

7.83

1.05

2046 / 3143

20

* Counts per second on down-hole, total count gamma probe

 

Several other holes encountered weakly anomalous radioactivity.  Samples have been submitted for analysis to determine the amount of uranium present and to confirm that the radioactivity is due to uranium.  If the analytical results are sufficiently encouraging, Pitchstone will follow up with a program of detailed electromagnetic geophysical surveying, to aid in the definition of paleochannels that are believed to host the mineralization, and additional drilling.

 

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. 

 

About Pitchstone

 

Pitchstone is well funded and exploring for uranium in four proven districts. The property portfolio features 12 projects in the eastern Athabasca Basin, Saskatchewan, four of which are 100% owned.  In addition, there are several joint venture projects in the Hornby Bay Basin, Nunavut, an exploration partnership in the Franceville Basin, Gabon, and a joint venture on two projects in Namibia.  Pitchstone benefits from the collaboration of 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 T. Brown, CFO, at 604 687 3520, or visit  www.pitchstone.net.

 

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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

 

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In the News and Medias of Pitchstone Exploration Ltd.
4/21/2009Pitchstone Exploration Ltd.: Uranium Mineralization Discover...
Annual reports of Pitchstone Exploration Ltd.
2007 Annual report
Financings of Pitchstone Exploration Ltd.
7/18/2011Arranges Private Placement
11/24/2010Closes Flow-Through Financing
11/15/2010Announces Flow-Through Private Placement
12/8/2009Flow-Through Financing
7/7/2009Completes $610,000 Private Placement
12/6/2007Closes $3.1 Million Private Placement
11/19/2007FLOW-THROUGH PRIVATE PLACEMENT
8/9/2007$3,000,000 Private Placement Closes
Option Grants of Pitchstone Exploration Ltd.
12/1/2010Grants 910,000 stock options to Directors, Officers and Empl...
Project news of Pitchstone Exploration Ltd.
1/31/2012(Dome Property)Uranium Exploration Plans for 2012
6/20/2011(Athabasca)Finalizes Summer Athabasca Drilling Plans
4/5/2011(Wolverine Athabaska)Receives JOGMEC Budget Approval
3/30/2011(Dome Property)Receives Marble Ridge Uranium Analyses
3/22/2011(Gumboot & Johnston Lake)Reports Uranium Results at Gumboot
2/8/2011(Dome Property)Drills Calcrete Uranium in Namibia
10/13/2010(Dome Property)Reports Namibia Uranium Drilling Analyses
7/14/2010(Athabasca)Provides Eastern Athabasca Uranium Exploration Update
6/15/2010(Athabasca)Provides Uranium Exploration Update
5/25/2010(Dome Property)Analytical Results Received for Dome Uranium Property, Namib...
5/18/2010(Athabasca)Plans Summer Drilling
3/23/2010(Athabasca)Completes Drilling
2/10/2010(Dome Property)Finds New Uranium Occurrence in Namibia
1/19/2010(Athabasca)Resumes Athabasca Uranium Drilling
11/30/2009(Athabasca)Continues Namibia and Athabasca Uranium Exploration
9/16/2009(Dome Property)Intersects Radioactivity in Namibia
8/25/2009(Dome Property)Finalizes Namibia Uranium Drilling Plans
6/30/2009(Gumboot & Johnston Lake)Begins summer drilling at Gumboot
5/7/2009(Gumboot & Johnston Lake)Plans Gumboot Drilling
4/21/2009(Dome Property)Uranium Mineralization Discovered in Namibia
3/30/2009Intersects Uranium at Gumboot
2/26/2009(Gumboot & Johnston Lake)Uranium Drilling Update
1/13/2009(Athabasca)Athabasca Uranium Drilling Begins
11/7/2008(Dome Property)Drilling Begins at Dome Uranium Property, Namibia
8/6/2008(Darby)Joint Venture Drilling Progress
6/24/2008(Horny Bay)Drilling Progress
5/9/2008(Dome Property)Namibia 2008 Uranium Exploration Initiated
4/2/2008(Athabasca)Athabasca Exploration Results
1/24/2008(Horny Bay)2008 Hornby Bay Exploration Program
1/15/2008Athabasca Drilling Resumes at 97G Zone on Candle Property
12/17/2007(Dome Property)Namibia Exploration Update
11/6/2007(Kendall River)Purchase of Hornby Bay Properties Completed
7/25/2007(Darby & Candle)Candle Drill Hole Assays
7/5/2007(Darby & Candle)Radioactivity Intersected at Candle
4/20/2007(Darby & Candle)ATHABASCA EXPLORATION RESULTS & FINANCIAL UPDATE
Corporate news of Pitchstone Exploration Ltd.
2/28/2011Completes Namibia Uranium Drilling Program
8/18/2010Confirms New Uranium Occurrence at Wolverine
6/11/2009Survey Generates Uranium Targets in Namibia
3/24/2009Options Denison's Johnston Lake Uranium Property
3/11/2009JOGMEC Options 50% of Wolverine and Marten
12/15/2008Uranium Exploration Update
12/1/2008Increases Interest in Athabasca Properties
10/20/2008News Release
10/15/2008News Release
8/28/2008Hornby Bay Exploration
7/15/2008Engages Investor Relations Firm
5/21/2008News Release
3/25/2008Gabon Uranium Exploration Gabon Uranium Exploration
10/11/2007Drilling Commences at Waterfound
9/18/2007Athabasca Basin Update
9/17/20072007 Hornby Bay Exploration Completed
8/8/2007Gabon Uranium Exploration
5/9/2007Hornby Bay Drilling Begins
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