Pitchstone Drills Calcrete Uranium in Namibia
08 Février 2011 - 1:00PM
Marketwired
Pitchstone Exploration Ltd. (TSX VENTURE: PXP) ("Pitchstone")
announces that a program of reverse circulation drilling has begun
on a zone of calcrete-hosted uranium mineralization on the Dome
property in Namibia. The property location relative to the nearby
Rossing and Langer Heinrich uranium mines, and other uranium
occurrences in the Erongo region, is illustrated on Pitchstone's
website (www.pitchstone.net).
The Marble Ridge zone was discovered during a program of
geological mapping and radiometric prospecting. Uranium and
vanadium mineralization are exposed in a drainage channel that has
eroded through a thin layer of barren cover that overlies
mineralized calcrete. Reverse circulation drilling in 2010
intersected significant uranium in six of ten holes (see October
13, 2010 news release) and demonstrated that the zone is a
horizontal layer of mineralization within 15 meters of surface. The
layer is continuous over an area measuring at least 400 x 200
meters and is open in several directions. Results included 365 ppm
U3O8 and 205 ppm V2O5 over a true thickness of one meter in drill
hole DN10-56, including 699 ppm U3O8 and 321 ppm V2O5 over 0.5
meter. Additional information including a drill hole location map
and cross section are available on Pitchstone's website
(www.pitchstone.net). A total of 700 m of drilling is planned in 28
drill holes in this campaign.
The uranium grades at Marble Ridge are comparable to those at
the calcrete-hosted Langer Heinrich uranium mine, 64 kilometers to
the northeast, and the Trekkopje development project, 98 kilometers
to the north. Langer Heinrich reports a Measured and Indicated
Mineral Resource grade of 550 ppm U3O8 above a cutoff of 250 ppm
U3O8. The Measured and Indicated Mineral Resource grade at
Trekkopje is reported to be 149 ppm U3O8 above a cutoff grade of
100 ppm U3O8.
Steve Blower, P.Geo., President and CEO of Pitchstone, is the
Qualified Person for the purposes of NI 43-101 with respect to the
technical information in this news release. Sample preparation and
analyses were completed by Bureau Veritas in Swakopmund, Namibia. A
multi-element ICP-MS/AES analysis was completed on the samples
after a mixed acid, near-total digestion. Pitchstone utilizes
internally and externally submitted standard reference materials
for quality assurance and quality control of the sample preparation
and analyses. Dome is part of a uranium exploration joint venture
between Pitchstone (69%) and private company Manica Minerals Ltd.
(31%) through Manica's wholly-owned subsidiary Cheetah Minerals
Exploration Ltd.
About Pitchstone
Pitchstone is exploring for uranium in three proven districts in
Canada and Namibia. The property portfolio features 11 projects in
the eastern Athabasca Basin, Saskatchewan, three of which are 100%
owned. In addition, there is a joint venture on two projects in
Namibia and several joint venture projects in the Hornby Bay Basin,
Nunavut. Pitchstone benefits from the collaboration of a unique
group of geologists with extensive uranium exploration and
production experience.
On behalf of the Board,
Steven J. Blower, President and CEO
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.
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.
Contacts: Pitchstone Exploration Ltd. Claire Stewart 604 630
5563 Pitchstone Exploration Ltd. Mark T. Brown CFO 604 687 3520
www.pitchstone.net
Pitchstone Exploration Ltd. (TSXV:PXP)
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