ESO Uranium Corp V.ESO

LGR news about ESO's drilling

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Logan Resources Ltd.: Uranium Discovered on Logan's Carswell Property, Athabasca Basin, SK 10:02 EDT Wednesday, May 10, 2006 VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 10, 2006) - Logan Resources (TSX VENTURE:LGR)(PINK SHEETS:LGREF) today announced that it has received the results from a drill program conducted by ESO Uranium Corp. on Logan's Carswell property in the uranium rich Athabasca Basin, Saskatchewan. Two of the eight holes underlying the Gorilla Lake claims (18,661 acres) intersected uranium mineralization. Drill hole CLU-01 intersected 0.46% U3O8 over 1.5 metres from 174.0 to 174.5 metres. Drill hole CLU-07 intersected two zones of mineralization. One zone intersected 0.17% U3O8 over 7.0 metres from 153.0 to 160.0 metres, which included a 1 metre section of 0.82% U3O8. The second zone contained 0.20% U3O8 over 2.0 metres from 175.0 to 177.0 metres. Five of the remaining six holes (CLU-02, CLU-03, CLU-04, CLU-05, CLU-08) did not intersect significant uranium mineralization and one hole (CLU-06) was abandoned. However, the location and direction of those holes in addition to the two that hit provided valuable structural and lithological information that helped identify a virtually untested uranium structure and further defined the model. ESO Uranium has since traced that structure along surface for 700 metres. This structure represents a prime target for a continued drill program that could commence after spring breakup. ESO Uranium is earning a 50% interest in Logan's property. Seamus Young, President and CEO, said, "It is very encouraging to achieve positive results so early in a preliminary drill exploration program. We look forward to working with ESO Uranium to further expand this drill program and discover more about the mineralized zones on the property." SRC Geoanalytical Laboratories of Saskatoon, Saskatchewan performed the sample preparation and uranium and multi-element analysis. The attached table below was prepared and provided by ESO Uranium Corp. For context, the nearby Cluff Lake Mine produced a total of 62.5 million lbs U3O8 with an average leach feed grade of about 0.9% U3O8. Rob Beckett, P.Geo., ESO Uranium Corp. is the Qualified Person as defined by National Instrument 43-101 and is responsible for the technical content of this news release. Logan Resources specializes in acquiring, exploring and developing early-stage Canadian properties with the potential to yield world-class deposits. The Company is currently exploring for copper, gold and uranium in the Yukon Territory, British Columbia and Saskatchewan. For more information on the properties and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites. ---------------------------------------------------------------- ESO Drill Results: Gorilla Area, Cluff Project ---------------------------------------------------------------- Drill From To Length U U3O8 Hole Azimuth Dip metres metres metres ppm percent ---------------------------------------------------------- ------------------------------------ CLU-01 290 -55 173.0 174.0 1.0 130 0.015 ------------------------------------ 174.0 174.5 0.5 337 0.040 (i) ------------------------------------ 174.5 175.0 0.5 1250 0.147 (i) ------------------------------------ 175.0 175.5 0.5 10200 1.203 (i) ------------------------------------ 175.5 176.0 0.5 102 0.012 ------------------------------------ ------------------------------------ CLU-07 200 -65 152.5 153.0 0.5 20 0.002 ------------------------------------ 153.0 153.5 0.5 955 0.113 (ii) ------------------------------------ 153.5 154.0 0.5 170 0.020 (ii) ------------------------------------ 154.0 154.5 0.5 2600 0.307 (ii) ------------------------------------ 154.5 155.0 0.5 23 0.003 ------------------------------------ 155.0 155.5 0.5 151 0.018 ------------------------------------ 155.5 156.0 0.5 470 0.055 ------------------------------------ 156.0 156.5 0.5 77 0.009 ------------------------------------ 156.5 157.0 0.5 95 0.011 ------------------------------------ 157.0 157.5 0.5 500 0.059 (iii) ------------------------------------ 157.5 158.0 0.5 317 0.037 (iii) ------------------------------------ 158.0 158.5 0.5 277 0.033 (iii) ------------------------------------ 158.5 159.0 0.5 8300 0.979 (iii)(iv) ------------------------------------ 159.0 159.5 0.5 5660 0.667 (iii)(iv) ------------------------------------ 159.5 160.0 0.5 366 0.043 (iii) ------------------------------------ 160.0 161.0 1.0 27 0.003 ------------------------------------ ------------------------------------ 174.5 175.0 0.5 195 0.023 ------------------------------------ 175.0 175.5 0.5 5300 0.625 (v) ------------------------------------ 175.5 176.0 0.5 850 0.100 (v) ------------------------------------ 176.0 176.5 0.5 410 0.048 (v) ------------------------------------ 176.5 177.0 0.5 260 0.031 (v) ------------------------------------ 177.0 177.5 0.5 55 0.006 ---------------------------------------------------------------- (i) 0.463% U3O8/1.5 m (ii) 0.147% U308/1.5 m (iii) 0.303% U3O8/3.0 m (iv) 0.823% U3O8/1.0 m (v) 0.201% U3O8/2.0 m ON BEHALF OF THE BOARD Seamus Young, President & CEO FOR FURTHER INFORMATION PLEASE CONTACT: Logan Resources Ltd. Seamus Young President & CEO [phone] [e-mail] www.loganresources.ca The TSX Venture Exchange has neither approved nor disapproved the information contained herein. © Copyright CCNMatthews