Uranium NewsShould bring to your attention that this target was initially drilled because it was the first permit to be granted by the government of Peru.
I surmise that since this was not their primary selected target that even better targets ie results should be on the horizon.
Time will tell all.
Solex Resources Corp. Intersects 0.061% U308 Over 18 Meters at Macusani-Average of 0.016% Over 10 Meters Over Wide Area
VANCOUVER, BRITISH COLUMBIA, Apr 2, 2007 (CCNMatthews via COMTEX) -- (CCN Mathews)
Solex Resources Corp. (TSX VENTURE:SOX) ("Solex") and its joint venture partner for its Macusani East uranium project, Frontier Pacific Mining Corporation (TSX VENTURE:FRP) ("Frontier Pacific" or the "Operator" and collectively with Solex, the "JV participants"), are pleased to report very encouraging initial results from the first 54 drill holes of a completed 61-hole drill program on the Calvario III near-surface uranium target. The drill holes have now confirmed a continuous, flat-lying ignimbrite volcanic flow containing a weighted average grade of 0.016% or 0.32 pounds per ton (based on a short ton of 2,000 lbs) uranium over a stratigraphic thickness of 30 feet (10 meters) in an area measuring 350 metres by 450 metres in plan view. The average depth to the uraniferous ignimbrite varies from zero to 40 metres. Highlights of the program include drill hole CIII07-26, which returned 0.779% (15.6 lbs/ton) U3O8 over one metre, and drill hole CIII07-28, which returned 0.061% (1.22 lbs/ton) U3O8 over 18 metres.
Calvario III highlights (full results appear at the end of the press release):
- 1m @ 15.6 lbs/ton U3O8 (in drillhole CIII07-26)
- 1m @ 11.2 lbs/ton U3O8 (in drillhole CIII07-54)
- 3m @ 6.5 lbs/ton U3O8 (in drillhole CIII07-28)
- 2m @ 3.8 lbs/ton U3O8 (in drillhole CIII07-35)
- 1m @ 3.5 lbs/ton U3O8 (in drillhole CIII07-05)
- 1m @ 3.4 lbs/ton U3O8 (in drillhole CIII07-19)
- 18m @ 1.22 lbs/ton U3O8 (in drillhole CIII07-28)
The Calvario III target was the first to be drilled as part of a US $2.5-million, 20,000-metre, 500-hole drill program planned by the Operator to test up to eight widely separated targets on the extensive Macusani East Uranium Project in southern Peru. Calvario III was a previously untested, hidden geophysical target which was initially drilled because it was the first permit to be granted by the government of Peru. As a result, the JV participants are particularly pleased with the initial results as they demonstrate excellent continuity of uranium grade within the ignimbrite flow throughout the stratigraphic zone. The ignimbrite flow is continuously mineralized under the capping flows exposed on the top of small hills flanking the valley exposure.
Drilling to date at Calvario III has tested only a small portion of the radiometric anomaly contained within the four square kilometre concession area. The uranium found in the drilling occurs as several mineralogical types, disseminated between tuffaceous fragments and within congealing fracture fillings related to cooling of the near surface flows. At Calvario III, only the near-surface flow was tested by drilling at this time. In several locations the favourable uraniferous ignimbrite flows appear stacked one on top of the other and separated in most cases by barren or low grade ignimbrites. The better grades of uranium are related to coarse fragmental tuffs suggesting proximity to volcanic necks. Mineralization at this target is still open to the north, west and south with higher grade zones increasing to the northwest. A follow-up drill program will be designed to continue delineating this resource.
Drilling Commenced on Two More Targets
Additional permits have now been received from the Peruvian Ministry of Mines and drill rigs have now been mobilized at the Agaton and Sayana West targets. Currently, one rig is drilling on the Agaton near surface uranium target outlined by a strong radiometric anomaly that measures approximately one square kilometre in size. Another drill rig has been mobilized on the Sayana West near surface uranium target measuring approximately a half square kilometre in surface area. Approximately three drill holes per day are completed by the two rigs on these target areas.
New Targets
Surface ground radiometric surveys are currently being carried out on approximately six uranium targets that were identified by prospecting and geologic mapping carried out this past year. Particular emphasis is being placed on uranium targets exposed at surface that exhibit volcanic neck appearances and conical fracture systems that returned scintilometer readings over 10,000 counts per second over wide dimensions of 300 metres or more.
Community Access Agreements in Place
The Operator has negotiated and maintains five access agreements with landholding communities and private land owners. Excellent working relationships have been established with the local communities who, in addition to the access agreements, are providing needed labour to the program. The drills are portable by hand and minimal ecological disturbance results from the work. A regular surface water monitoring survey has been implemented to ensure an accurate record of discharge from the drill site areas. The drill sites are immediately reclaimed to the standards encountered before work started.