newsAldershot's Uranium Update
Western Australia
April 25, 2006 - Jeremy Caddy, President of Aldershot Resources Ltd. (TSX-V: ALZ) ("Aldershot" and the "Company"), wishes to provide the following update to its News Release dated March 16, 2006, in which the Company reported on its Western Australian uranium projects.
The Turee Creek Uranium Project - As previously reported, the Company's 100% owned Turee Creek Uranium Project is located in the Pilbara Region of Western Australia and hosts a near surface resource of 1.05 million tonnes averaging 0.035 % U3O8 (after Tindalls Gold Mines NL 1984 ASX) yielding 810,000 lbs of contained U3O8.
Aldershot has now identified structural targets, including faults, which might act as chimneys leading from a much higher grade, large tonnage deposit at depth to the near surface uranium mineralization outlined by Noranda's drilling in the 1970s referred to above. The Company has completed compilation of the available historical data for the Turee Creek region and has identified the structural targets. Management has designed an electromagnetic (EM) survey to test for conductors (in this case carbonaceous material which precipitate uranium) at depth and the results of the survey will be used to target the proposed drilling. Drilling will be conducted though the Kunderong sandstone to the underlying units. The principal target for the EM survey is carbonaceous shales, similar to those that host the uranium mineralization at the Angelo Uranium Prospect, 35km to the west (after Pancontinental open file report AR9529, p 15). Estimates of uranium resources herein are historical in nature, predate and are non-compliant with NI #43-101. Aldershot does not regard the historical estimate as current mineral resources. The Company has not undertaken any independent investigation of the resource estimates nor has it analyzed the results of previous exploration work in order to verify the resources independently. It is not certain that the target will be delineated by further exploration as a mineral resource. Management's view is that these historical estimates provide a conceptual indication of the potential of the occurrences and are vital to ongoing exploration.
The Company is currently calling for tenders from contractors to carry out the planned geophysical surveys as soon as the property can be accessed.
As the Company reported on March 16, 2006, Company uranium geologist, Ian Faris, stated that, "Aldershot will begin a detailed exploration program in April 2006 to test a theory that this low grade near surface uranium mineralization zone represents a surface expression of a much higher grade, large tonnage deposit at depth, similar to Cameco's Cigar Lake deposit in northern Saskatchewan." Cameco, the world's greatest uranium producer, recently staked around the Company's Turee Creek tenements.
The Company is also pleased to announce a Heritage Agreement has been signed with the Jidi Jidi Aboriginal Corporation. Heritage surveys will be undertaken with the assistance of the Traditional Owners to ensure their heritage is preserved.
The Yuinmery Uranium Project - As previously reported, "The Yuinmery Uranium Project is located 480 kilometers northeast of Perth and 65 kilometers south of Sandstone. The project contains a resource of 1.58 million tonnes averaging 0.037% U3O8 at a 0.025% cut-off." The values stated yield 1,288,000 lbs of contained U3O8. This resource is derived from historical data (Pickaxe Pty Ltd 1998, open file report A55800).
All the historical data and reports for the Yuinmery area have now been obtained and the data compiled. Although the previous drilling is widely spaced (200m x 400-800m), the mineralization mentioned above and outlined by 14 holes, is open to the west and south. The mineralization is located on the northern western corner of Lake Noondie and appears to be in two horizons (0-1m and 2-3m deep), both easily recoverable by open pit mining methods with the best intercept in GHY9 (3.5 pounds per tonne U3O8 from 1.5m to 3.0m). Estimates of uranium resources herein are historical in nature, predate and are non-compliant with NI #43-101. The Company does not regard the historical estimate as current mineral resources. Aldershot has not undertaken any independent investigation of the resource estimates nor has it analyzed the results of previous exploration work in order to verify the resources independently. It is not certain that the target will be delineated by further exploration as a mineral resource. Management's view is that these historical estimates provide a conceptual indication of the potential of the occurrences and are vital to ongoing exploration.
Phase 1 of the exploration program will consist of an initial shallow drilling program of approximately 100 holes to allow the calculation of a resource estimate and an airborne radiometric-magnetic survey to delineate additional target areas. A Phase 2 drilling program is anticipated to infill and extend mineralization intersected during Phase 1 and to test new areas delineated by the airborne survey, particularly along the southern arm of Lake Noondie where historical pits assayed up to 0.9 pounds per tonne U3O8.
A recent field examination of the area revealed that although the area is only sparsely vegetated and there is no evidence of the historical drilling there are sufficient features to be able to relocate the historical grid. This allows for a short sharp drilling campaign.
Contracts for the airborne survey and drilling programs are being negotiated and the airborne survey will be undertaken when the ground has dried sufficiently. Timing of the drilling programs is dependant upon rig availability and government approvals.
Heritage and Native Title issues are also being investigated to ensure there are no sacred or sensitive sites that may be disturbed by the proposed exploration.
FOR AND ON BEHALF OF THE BOARD
ALDERSHOT RESOURCES LTD.
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Jeremy Caddy