NEWS RELEASE � January 30, 2008
DUMONT NICKEL INC. (DNI : TSX-Ven, DG7 :
Frankfurt)
DUMONT EXPANDS U-BEVA URANIUM ZONE
AT MARYSVALE PROPERTY, UTAH
DUMONT NICKEL INC. (DNI:TSX-Ven, DG7:FSE) is
pleased to announce that recent field work completed by DUMONT at its Marysvale
Uranium Property, Utah, has successfully expanded the U-Beva Uranium Zone.
DUMONT�s previous field work over the U-Beva
Uranium Zone traced the principal mineralized fault over a 700ft strike length,
and defined an approximate 50ft-120ft wide corridor reporting anomalous gamma
ray radiometric grades upward to 0.03% eU3O8 (press September 26, 2007). Detailed surface work completed in October-December expanded width of the
anomalous corridor to approximately 500ft and confirmed uranium mineralization
in outcrops exposed within the corridor.
In addition, reconnaissance radiometric surveying
of the area surrounding the historic mine has discovered surface uranium anomalies on-trend over a distance of approximately one half mile, suggesting
that the U-Beva fault may extend beyond the historic mine workings much further
than previously expected. The fault remains �open� along strike in both
directions.
Primary Uranium mineralization in the Marysvale
District occurs in steep epithermal veins which were the focus of historic work.
The potential for discovery of re-distributed Uranium mineralization
concentrated below surface in favourable lateral units cut by the higher grade
veins has not been adequately evaluated. DUMONT�s focus is to test a number of
targets for Uranium mineralization leached from the higher grading veins beneath
known Uranium showings and historic mines.
Work has been ongoing intermittently at the
Marysvale Property since September on two of the eighteen high priority uranium
targets identified by DUMONT. The two targets are the U-Beva Historic Mine area
and the KO prospect, both of which are historic prospects with uranium zones
exposed on surface. Results from DUMONT�s field work indicate that both targets
hold potential for hosting laterally distributed Uranium mineralization leached
from the higher grading historic veins.
Historic records describe the U-Beva uranium zone
as a shoot in a fault in altered volcanics just below the contact with overlying
rhyolite. The historic �pay� zone is reportedly a few feet wide traceable for
140 feet. Though surface samples over the zone are reported to have averaged
less than 0.05% U3O8, underground grades ranged 0.4% to 1.1% U3O8 over widths
ranging 0.8ft to 3ft. Examination of an excavation on the U-Beva target
indicates that uranium mineralization extends laterally from the main fault zone
beneath a gently dipping volcanic contact. This observation reinforces the
potential of the area to host laterally distributed uranium zones beneath the
historic zone, and is corroborated by DUMONT�s recent field work findings.
Concurrently with work on the U-Beva Zone, initial
sampling and mapping were also completed over the KO Prospect. This work identified shallow?dipping potential redox horizons reporting anomalous uranium
from radiometric surveying and rock-chip samples. Discovery of these horizons
reinforces the potential for discovery of lateral uranium zones associated with
uranium zones so far mapped only on surface. The KO Prospect is, like many
others on the Marysvale Property, a uranium prospect in altered zones along
faulting in Bullion Canyon volcanics. Historic references to the prospect in
geologic literature report grades ranging 0.1% to 0.23% U3O8.
Field activities over the Marysvale Property have
recessed for the winter and will resume once snow cover has cleared. Given the
success thus far at the U-Beva and KO prospects, work previously planned to
evaluate several other selected uranium targets will be deferred to concentrate
on advancing the U-Beva and KO targets toward drilling as soon as possible. To
date, approximately 200 surface samples have been collected by DUMONT and sent
for analysis, in addition to completing an aggregate of 3.5 line kilometers of
surface radiometric surveys over the U-Beva and KO prospects.
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of this
release.
DUMONT is a mineral exploration company with
operations in Ontario, Utah, Nevada and Arizona. DUMONT is Operator of the Utah
Joint Venture which controls approximately 15 square miles of mineral properties
across the historic Clifton-Gold Hill gold-silver-copper Mining District. DUMONT
is assembling a portfolio of uranium exploration projects across established US
historic mining districts. DUMONT holds one of the most prospective land positions in the Attawapiskat diamond area in the James Bay Lowlands, Ontario,
with a carried interest in the Dumont Joint Venture exploring the area through
Metalex Ventures Limited and others under the direction of Mr.Charles Fipke. All
of DUMONT's properties are being actively explored either directly by Dumont or
via joint venture.
DNI - TSX Venture
DG7 - Frankfurt
Issued:
104,798,010
Link to release on Canada Newswire:
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Dumont Nickel Inc
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EXPLORATEUR |
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CODE : DNI.V |
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ISIN : CA23327V1094 |
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Dumont Nickel est une société d’exploration minière de nickel basée au Canada. Dumont Nickel détient divers projets d'exploration en USA et au Canada. Ses principaux projets en exploration sont CANE SPRINGS et REDWALL URANIUM en USA et ATTAWAPISKAT DIAMOND PROPERTY, RATTLER, JAMES BAY LOWLANDS CLAIMS et TORNGAT au Canada. Dumont Nickel est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,9 millions CA$ (1,5 millions US$, 1,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 09 mars 2007 à 9,60 CA$, et son plus bas niveau récent le 30 décembre 2015 à 0,06 CA$. Dumont Nickel possède 29 590 000 actions en circulation. |