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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
Rössing 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.
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