Western Uranium
Corporation Provides 2008 Work Program Summary
December 22, 2008
VANCOUVER, BRITISH COLUMBIA:
Western Uranium Corporation (�WUC� or the �Company�) (TSX-V: WUC) is pleased to
provide a summary of the results from the field programs for 2008.
The final results from the work program undertaken on the Kings Valley
Project during the field season have been received. The drill program focused
on testing a number of uranium targets identified from previous geophysical
and geochemical surveys in the Bull Basin and Old Man Springs areas. Twenty-eight
core holes were drilled for a total of 6,323 meters. The program successfully
identified areas that contain elevated levels of uranium mineralization,
which warrant follow-up with additional drilling during the 2009 program. In
addition to this work, one core hole, KV-63, was drilled in the Midnight Mine
area as a twin to a KV-19, a reverse circulation hole drilled in 2006 that
intercepted significant uranium, gold, silver and molybdenum mineralization. (Press
release dated: Oct. 10, 2006)
Click here to view 2008 Drill Target Map
Results from KV- 63 are
listed below.
|
Interval
|
True
Thickness
|
%U3O8
|
Au
|
Ag
|
MoS
|
|
meters
|
meters
|
Chem
|
g/t
|
g/t
|
%
|
KV-63
|
84.1-114.9
|
17.5
|
0.206
|
0.664
|
38.8
|
0.028
|
includes
|
95.7-110.8
|
8.7
|
0.320
|
0.849
|
69.8
|
0.045
|
includes
|
101.1-105.4
|
2.4
|
0.529
|
1.133
|
217.5
|
0.091
|
KV-63 provided much
needed geologic clarification as to the nature of the mineralization and the
rock units which host mineralization. In addition, the results verified the
analytical results returned from the earlier reverse circulation drilling in
2006. The corresponding interval in KV-63 to KV-19 returned very similar
results. KV-63 was designed as a vertical hole to accurately twin the
original reverse circulation hole. The widths noted above are listed in true
thickness as it was possible to define the dip of the zone containing the
mineralization from the examination of the core. In addition, a better
understanding of the geological setting has developed over the course of the
past two to three field seasons.
In addition to the
intervals outlined above that are hosted in volcanic units, uranium
mineralization up to 0.86% occurring in nearly flat lying thin veinlets (0.09
meters) was intercepted in underlying granites. These intercepts lie
approximately 30 meters below the interval listed above at a depth of 140
meters. While this interval is insignificant in width, it suggests that deep
drilling into the underlying granites focused along structural zones may
encounter higher grades and thicker intervals if the roots of the
mineralizing system can be located.
Geologic work to date
has identified a large area of approximately 11 kilometers in strike length
and 3 kilometers in width covering three prospective regional targets: Bull
Basin, Old Man Springs, and Albisu. 27 core holes for a total of approximately
6200 meters of drilling were completed for a first pass test over these three
areas. 786 meters were drilled at Albisu, ALB 01 - 04, 4274 meters were
drilled in Bull Basin, BB -01� 16 and 1099 meters at Old Man Springs OMS 01-
07. A summary of the drill results is listed at the end of the release along
with a map showing the drill hole locations. The drill program was designed
to test variable models for hosting uranium mineralization. Drill holes were
targeted using a combination of results from radon track-etch surveys,
geophysical surveys � both ground and airborne, photo linear interpretations,
and geologic field mapping. The drilling in Bull Basin substantiated that
elevated levels of uranium occur at or near the interface between the
overlying sedimentary units and the underlying volcanic rocks, suggesting the
basin may hold mineralization similar in style as the nearby Aurora Deposit
in Oregon. Background levels of uranium range from less than detection to
single digit ppm values. Near the contact between the moat sediments and the
underlying volcanic rocks, levels of chemically detectable uranium elevate to
double digit values of uranium. Several holes also intercepted geochemically
elevated levels of uranium within the moat sediments and below the interface
well into the underlying basalts. During a technical review it was noted by
Cameco to the Western Uranium personnel that although the levels of uranium
were in the 10-30 ppm range in random zones in the basalt, these
concentrations are above normal background levels for what is encountered in
fresh, unaltered basalts. Much of the mineralization at the Aurora Deposit in
Oregon is hosted in high-iron basalt.
Concurrent with the
drilling program additional detailed geologic mapping was on-going. This work
identified an area on the western side of Bull Basin that exhibits a number
of large boulder trains of silica sinter along with widespread sinter float.
The sinter yields counts of 300-400 gamma cps on the scintillometer. Along
with the paleo hot springs material the surrounding volcaniclastic rocks
exhibit weak to moderate amounts of silicification and argillization. Seven
of the 16 holes drilled in Bull Basin were concentrated in this location due
to favorable surficial alteration and structural preparation of the rock.
Probing of the first few drill holes detected elevated zones of radioactivity
ranging in the 0.01% - 0.05% U3O8, which led to more concentrated drilling in
this location. Most of the drill assays returned chemical values of uranium that
were lower than the probe encountered suggesting a disequilibrium problem
where the daughter products from the decay chain of uranium are being picked
up with the gamma probe and the uranium has been mobilized to a different
locality. Drill hole BB-13 contained two, 3-meter intervals that returned
chemical assays of 0.015% and 0.014% U3O8 at 116 meters and 123 meters,
respectively. The corresponding probe intercepts returned 0.037% and 0.034%
U3O8. Drill hole BB-14, however, had two 0.6 meter intercepts that returned
chemical assays of 0.051% and 0.022% U3O8 at 53 m and 156m, respectively,
while the corresponding probe values returned 0.051% and 0.017% U3O8. All of
these results are encouraging and will be useful for vectoring in on
additional drill sites during the 2009 program.
A number of the holes
encountered highly elevated levels of arsenic and mercury along with
scattered intercepts of low levels of silver, gold and molybdenum. Additional
study is needed to determine the significance of these elements but the
levels of the arsenic and mercury are consistent with those found in
mineralizing hot springs systems associated with metal deposits.
There is a dominant
north-south corridor of mineralization and alteration that strikes 24
kilometers along the western rim of the McDermitt Caldera. The southern part
of the trend is defined by the known zones of uranium mineralization reported
by the company in previous press releases. The north end where ALB-04 is
located appears to be a gold-enriched portion of the system. (Press release
dated October 29, 2008.)
ALB-04****
|
3.5 � 35 m:
104 � 105.5 m:
105.5-114 m:
137 -145 m:
154-229 m:
|
164 ppb gold
12.5 g/t gold and 14.2 g/t silver
171 ppb gold
289 ppb gold
391 ppb gold
|
|
Includes the following intervals:
155.5 � 157.0: 1.03 g/t gold
170.7 - 178.3: 1.91 g/t gold
180.0 � 184.5: 0.53 g/t gold
|
**** ALB-04 was
geochemically elevated in gold nearly the entire 255 meters of the drill
hole. There are currently not adequate controls on the geology to determine
true thickness but it does not appear to have been drilled down a structure.
Along this entire trend,
scattered old prospect pits and random historic drill holes tend to have
elevated geochemical signatures of metals that may occur proximal to large
mineral systems. Many of the holes are geochemically elevated significantly
above background concentrations in arsenic, mercury, and silver along with
scattered zones of elevated gold and molybdenum. All of these elements, when
examined on a regional scale, suggest that an extremely large, active,
multi-element metalliferrous system has been active in the caldera. The 2008
program provided important geologic and geochemical data that will assist in
guiding the next phase of the program during 2009. The program for 2009 is in
the planning stages with several deep drill holes planned in the vicinity of the
Moonlight area, follow-up drilling in Bull Basin along with a more extensive
drill test of the gold mineralized zone around Albisu.
2008 DRILL HOLE SUMMARY
BB= Bull Basin
OMS = Old Man Springs
ALB = Albisu
NSR = no significant
results
Drill Hole
BB-01-04*
|
NSR*
|
|
BB-05
|
NSR
|
|
BB-06**
|
NSR
|
|
BB-07
|
NSR
|
|
BB-08*
|
NSR
|
|
BB-09-12***
|
NSR
|
|
BB-13***
|
116 -119 m:
124- 127 m:
|
0.012% U3O8 chemical assay
0.014% U3O8 chemical assay
|
BB-14***
|
53- 53.6 m:
156- 156.6 m:
|
0.051% U3O8 chemical assay
0.022% U3O8 chemical assay
|
BB-15
|
NSR
|
|
|
|
|
BB-16*
|
NSR
|
|
OMS-01**
|
0 � 7 m:
|
0.059% MoS2
|
OMS-02**
|
NSR
|
|
OMS-03-07
|
NSR
|
|
|
|
|
ALB-01
|
46 � 47.5 m:
|
17 g/t silver, plus zones
of weakly anomalous gold
|
ALB-02
|
6.3 � 8 m:
|
0.012%U3O8 chemical assay
|
|
28.3-29.5 m:
|
49 g/t silver
|
|
33.1-35 meters:
|
12 g/t silver
|
ALB-03
|
NSR
|
|
|
|
|
*
|
intercepted geochemically
elevated levels uranium over 6 � 30 meters at sediment/volcanic contact
|
**
|
intercepted elevated
levels of uranium in basalt
|
***
|
These holes encountered
geochemically elevated levels of uranium in the volcanic rocks along with
gold, silver, arsenic and mercury
|
WUC QA/QC
Program
Quality Control and
Assurance for all sampling projects at Kings Valley is under the direction of
Mr. John Rice, a Qualified Person as defined by National Instrument 43-101
standards. Core samples are collected daily from the drill site and
transported back to the field office, where WUC personnel photograph each
box. WUC geologists then log the core, noting rock types and alteration. The
core is then split and packaged in sealed heavy weight polyethylene bags.
Core samples are delivered by WUC employees to American Assay Laboratories
located in Sparks, Nevada.
American Assay
Laboratory�s quality control system complies with the requirements for the
International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy
and precision are monitored by the use of reagent blanks, reference samples,
and sample duplicates. Additionally, WUC selects duplicate samples which are
then submitted to a third party lab for separate confirmation analysis.
WUC contracted Minerals
Exploration and Environmental Chemistry Laboratories, located in Washoe
Valley, Nevada, to develop a set of analytical standards for uranium quality
control. WUC standards were made at 0.01%, 0.05%, 0.10%, and 1.0% U3O8. Once
prepared, the standards were submitted to six different accredited assay
laboratories for round robin analysis and confirmation of grade before use.
Control samples are submitted with each round of samples submitted to the
laboratory.
THELON BASIN,
NUNAVUT
The Company conducted a
short field program in Nunavut during this past summer to complete a
reconnaissance level examination of the prospecting permits. This work
assisted in guiding the claim staking to convert portions of the permits to
claims as required by regulations. 49 claims totaling 126,542 acres were
staked to cover the most favorable areas of the permits. The camp has been
dismantled and removed from the area. No further work is planned in the near
term, and depending on the resolution of the caribou issue the Company will
carefully consider whether Nunavut is a politically acceptable environment in
which to conduct further exploration. An adequate amount of expenditure has
been made in the area to keep the claims in good standing for the next two
years.
About the Company
Western Uranium
Corporation is a mineral exploration company with a focus on uranium. The
Company has exploration properties in Nevada, New Mexico and in the Thelon
Basin, Nunavut and the Northwest Territories. The Company has its head office
in Vancouver, Canada; its executive management team is based in Reno, Nevada.
The contents of this
press release were reviewed by Ms. Pamela Klessig for WUC. Ms. Klessig has
sufficient experience to review this release and is a Qualified Person as
defined by NI 43-101.
On behalf of the
Board of
Western Uranium Corporation
�Pamela J. Klessig�
Pamela J.
Klessig
President &
CEO
For further
information contact:
Western Uranium Corporation
Pamela Klessig, Chief Executive Officer
Telephone: 775-827-3311
Email: info@westernuranium.com
Website: www.westernuraniumcorp.com
This news release
does not constitute an offer to sell or a solicitation of an offer to buy any
of the securities in the United States. The securities have not been and will
not be registered under the United States Securities Act of 1933, as amended
(the �U.S. Securities Act�) or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless an
exemption from such registration is available.
The TSX Venture
Exchange has in no way passed upon the merits of the proposed transaction and
has neither approved or disapproved of the contents of this press release.
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