NewsESO Uranium Strikes 19 meters of 4.1 g/t Gold
VANCOUVER, April 24 /CNW/ - ESO Uranium Corp. ("ESO" or "the Company")
announces that two drill holes have returned gold grades over substantial
widths of mineralization in the drill program on its Mikwam Property along the
Casa Berardi Deformation Zone in northeastern Ontario. Seven holes were
completed for a total length of 2,437 meters (8,042 feet) in this first phase
of work. Assays have been received for the first three of these holes and the
significant intersections are reported below (all units are metric except
where indicated in brackets).
<<
DDH No. Northing Easting Elevation Azimuth Dip
------- -------- ------- --------- ------- ---
06-01 5483013 592337 284 0 -45
06-02 5483013 592337 284 7 -60
06-03 5483092 592256 287 90 -45
To - From Interval m Grade g/t
--------- ---------- ---------
06-01 104-150 46 Anomalous
Including 125-128 3 1.4
322-326 4 2.1
06-02 274-293 19 4.1
06-03 140-156 16 4.8
169-176 7 5.0
Drill hole 06-01 was located close to a previous drill hole (92-1) from a
1992 programme by Royal Oak Mines Ltd. who had the property under option from
Newmont Canada. That hole intersected the A8 vein with a 7.2 meter (24 foot)
intercept and grade of 5.6 g/t gold. The 06-01 hole returned a broad
intersection of anomalous values and occasional grades over 1.0 g/t. This
suggests that the vein zone was intersected where the mineralization was
diffuse.
Hole 06-02 undercut the first hole and showed a significant grade
thickness improvement over the original 92-1 drill hole intersection. The
intersection of 19 meters (63 feet) at 4.1 g/t is the longest mineralized
section at this grade reported to date on the property.
Drill hole 06-03 was drilled from the west across the zone to resolve the
structural relationship of the vein with an associated iron formation. The
grade of 4.8 g/t gold over 16 meters is a good general confirmation of the
grade in hole 06-02 and the historical data of drill hole 92-1.
Some repeat assays have suggested a need to check for metallic gold which
may cause a nugget effect and a wider statistical error in the results than
desirable. This check work is in progress and any significant variances will
be reported. The Lasarre Assay Laboratory that is undertaking this work for
ESO has considerable experience with samples from the Casa West project of
Aurizon Mines Ltd. This project is within the Casa Berardi Deformation Zone
and lies about 15 kms east of the current Mikwam property boundary.
ESO will report on the remaining samples submitted for assay as they are
completed.
The data set used here has been presented to ESO by Caracle Creek
International Consultants (CCIC) who are assisting in the drill programme as
an independent Qualified Party. The data generated in the ongoing programme
will be used by CCIC to complete a resource estimate that is compliant with NI
43 101. Drilling is expected to re-start on April 24, 2006 with an initial
focus on the A8 vein area for resource estimate data. In addition to this
drilling, several targets are being reviewed for drilling on the recently
acquired contiguous claims.
About ESO Uranium Corp.
ESO Uranium Corp., a Vancouver based mineral resource company, is
actively exploring for gold in the Casa Berardi deformation zone in Ontario
and for uranium in the Athabasca Basin in Saskatchewan. The Company is well
financed with over $5 million in its treasury.
The Company controls in excess of 860,000 acres of mineral claims in the
Athabasca Basin making it one of the largest land holders in the world's most
prolific uranium producing region. The Company also controls 21,380 acres of
mineral claims referred to as the Mikwam gold project located along the
western extension of the Casa Berardi deformation zone in Ontario. At current
gold prices of over US$600/oz, a gram of gold has a value of more than
US$19.30.
Benjamin Ainsworth, MA (Oxon), PEng, is the Qualified Person responsible
for this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
---------------------------
Vice President, Exploration