White Canyon Announces Initial JORC Estimate of Daneros Deposit
19 Août 2010 - 2:30PM
Marketwired
US-focussed uranium production company White Canyon Uranium Limited
(TSX VENTURE: WU)(ASX: WCU) ("White Canyon" or "the Company") is
pleased to announce an initial JORC compliant resource of 96,600
short tons grading 3,660ppm U3O8 (within a 0.1% U cut-off) for
700,000 pounds of U3O8 and 122,000 short tons grading 1,860ppm U3O8
(within a 0.1% U cut-off) and 455,000 pounds of U3O8 for the
Daneros Deposit, which is within its 100% owned Red Canyon
Projects.
The Resource, which is the first JORC compliant resource (see
Table 1 below), represents a key milestone for White Canyon
Uranium. The establishment of an initial JORC compliant uranium
resource within the Red Canyon district (which covers an area of
approximately 15,500 acres) provides a strong platform for WCU to
progress exploration at Daneros and its other projects.
The Daneros Deposit is located in the Red Canyon area of the
White Canyon mining district approximately 65 km west of Blanding
and some 120 kilometres southwest of Moab in San Juan County of
south-eastern Utah, USA. (Figure 1).
Resource estimates for Daneros are based on the results of the
44 diamond and rotary drill holes drilled in 2008 and the indicated
resource was based on the assayed samples (24 holes) using ICP
method. The remainder of the resource was determined from the 2008
drill holes and 344 historical drill holes.
The Daneros Resource (Table 1) was estimated by Inverse Distance
Squared (ID2) and reflects the current mining selectivity of sub
blocks of 5 x 5 metres in plan view with a 1 metre block in RL. The
resource uses a Specific Gravity of 2.35 tonnes per cubic metre
based upon the average value of 36 assayed results of Daneros
core.
The resource has both indicated and inferred estimates and the
classifications were developed from the confidence levels of key
criteria including drilling QC information available, geological
understanding and interpretation, sampling, data density and
location, grade estimation and quality.
Table 1: Daneros Resource Estimate with a 0.1% cut-off
----------------------------------------------------------
Category Short Tons (st) U3O8 (ppm) U3O8 (lb)
----------------------------------------------------------
Indicated 96,623 3,662 707,584
Inferred 122,398 1,862 455,819
----------------------------------------------------------
In addition to the Resource Estimate for Daneros, the Company
through the estimation processes identified uranium mineralisation
within the Daneros wireframe that was not classified due to a lack
of quality control data in outlying historic drill holes. This
mineralisation can be readily added to the Daneros resource with a
programme of verification drilling. This mineralisation will
represent an additional 150,000 - 220,000t of mineralisation at a
grade similar to the current resource in a range of 0.20% - 0.25%
U3O8. This additional mineralisation is an Exploration Target and
until the confirmation drilling is completed the tonnage and grade
are conceptual in nature and do not form any part of the Daneros
Mineral Resource.
During the study, the limits of mineralisation were not
identified indicating that the mineralisation also extends beyond
the current drill data.
To view Figure 1: Location of Daneros Deposit Map, please visit
the following link:
http://media3.marketwire.com/docs/Figure1LocationOfDanerosDeposit.pdf.
Peter Batten has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent
Person as defined in the 2004 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Peter Batten consents to the inclusion in the report of
the matters based on his information in the form and context in
which it appears.
About White Canyon Uranium:
White Canyon listed in March 2008 as an advanced uranium
exploration company holding 100% interest in the advanced Thompson,
Daneros, Lark Royal, Geitus, Blue Jay and Marcy Look Projects in
south-east Utah, comprising of approximately 15,500 acres of mining
claims and mineral leases. The projects contain JORC (NI 43-101)
defined high grade uranium deposit. White Canyon entered the ranks
of uranium producers in December 2009 with first production from
the Daneros mine.
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: White Canyon Uranium Limited Lew Cross Chairman +61 8
9385 0400 lew@whitecanyonuranium.com Professional Public Relations
David Tasker +61 89388 0944/ +61 433 112 936
david.tasker@ppr.com.au www.whitecanyonuranium.com.au
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