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Analytical Results Received for Dome Uranium Property, Namibia
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Uranium up to 5,140 ppm U (0.61% U3O8) in
leucogranite
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Nine
samples contain greater than 200 ppm U
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High-definition airborne magnetic survey contracted
Pitchstone
Exploration Ltd.
(TSX-V: PXP; “Pitchstone”) reports analytical results for
samples of outcropping leucogranite hosted mineralization collected
during the March 2010 exploration program on the Dome property,
Namibia. Dome comprises 182,000 hectares and is part of a uranium
exploration joint venture between Pitchstone (64%) and private company
Manica Minerals Ltd. (36%) through Manica’s wholly-owned subsidiary
Cheetah Minerals Exploration Ltd. The property location relative to
the nearby Rössing and Langer Heinrich uranium mines, and other
uranium occurrences in the western Namibian uranium district, is
illustrated on Pitchstone’s website (www.pitchstone.net).
The March 2010 exploration program consisted of geological
mapping and sampling designed to follow up on the results of December
2009 exploration at Dome North that identified a new occurrence of
radioactive leucogranite (commonly referred to as alaskite) in outcrop
(see February 10, 2010 news release). Two surface grab samples
collected in December contained 149 and 152 ppm U3O8. The style of
mineralization is similar to that at the Rössing mine.
A total of 54 samples of leucogranite were collected in the
March program. Thirty four of these are 15 cm long core samples
obtained with a portable hand drill. The others are grab samples.
Nine samples, five of which were core samples, contain greater than
200 ppm U (0.024% U3O8). The highest uranium value was 5,140 ppm U
(0.61% U3O8) from a grab sample containing visible yellow uranium
oxide mineralization; the highest core sample contained 352 ppm U
(0.042% U3O8).
The analytical results are being compiled with other data to
identify targets for a reverse circulation drill program later in the
year, following a planned high definition airborne magnetic and
radiometric geophysical survey. The planned drill program will also
test uranium mineralization in calcrete hosted targets generated by
ground electromagnetic surveying and drilling late last year (see
February 10, 2010 news release).
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. Sample preparation and
analyses were done by ALS Chemex, Johannesburg. A multi-element ICP-MS
analysis was completed on the samples after a four 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. Field work in Namibia is
supervised by Cape Town based Remote Exploration Services on behalf of
the joint venture.
About
Pitchstone
Pitchstone is exploring for uranium in three proven districts
in Canada and Namibia. The property portfolio features 12 projects in
the eastern Athabasca Basin, Saskatchewan, four 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,
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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