OOpps HedgieXemplar discovers 14 alaskitic bodies at Warmbad
Xemplar Energy Corp (C:XE)
Shares Issued 107,540,803
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11/5/2007 $6.25
Tuesday November 06 2007 - News Release
Mr. W.G. McDowall reports
WARMBAD URANIUM PROJECT EXPLORATION UPDATE
Xemplar Energy Corp. is providing an update on its exploration activities at
its wholly owned Warmbad uranium project, in Namibia. The company believes it
has effectively discovered a new uranium province in the Warmbad area, with over
14 large mineralized alaskitic bodies that outcrop in an area of approximately
40 kilometres by 28 kilometres. Ground truthing of over 1,200 sites on all 14 of
these bodies has shown clear evidence of visual surface uranium mineralization.
Over 100 outcrop samples have been collected and sent for analysis. These
results were previously reported in the company press release in Stockwatch
dated May 7, 2007. Helicopter radiometric data collected over these bodies show
distinct uranium channel anomalies.
Drilling progress -- Warmbad
The company is currently using two drill rigs on the Warmbad uranium project.
One of these rigs is a diamond drill rig and the other is a reverse circulation
(RC) drilling rig. To date, three RC holes have been completed and one diamond
drill hole is continuing. All three RC holes encountered alaskite and secondary
uranium mineralization. This uranium mineralization is in the form of
uranophane. The diamond drill hole has also encountered alaskite with secondary
uranium mineralization. All of these holes are being drilled on the
Gaidip-Sandfontein alaskite. This body is an outcropping, uranium-bearing,
coarse-grained, white graphic alaskite, locally known as Big Yellow. Samples
from these holes are being prepared for shipment to Set Point Laboratories in
Johannesburg, South Africa. Set Point Laboratories is a well-established
analytical chemistry laboratory that specializes in geochemical and general
analytical chemistry. Set Point Laboratories is an ISO 17025-accredited
laboratory.
The RC drilling rig has now moved approximately 200 metres to the east of its
last position and is drilling a fourth vertical hole. This hole is presently
drilling in alaskite. A second RC drilling rig has been shipped from Canada and
is expected in Namibia this week. This will be followed by third RC drilling rig
toward the end of November. A fourth rig has been ordered and is expected early
in 2008.
The company intends to have five drilling rigs operational in the Warmbad
area by the first quarter of 2008. Two Mount Sopris, spectral gamma logging
systems are in the process of being calibrated, at the Pelindaba calibration
facility near Pretoria in South Africa. This facility contains two borehole test
sites of known uranium and thorium content. Having the units calibrated at
Pelindaba will enable the company to report equivalent uranium (eU) and thorium
(eTh) grades from its exploratory drill holes. These units will be used to
radiometrically log all of the holes being drilled at Warmbad.
Future drill targets
On completion of the preliminary drill program at Big Yellow, approximately
10 RC holes are planned for the Gaobis alaskite. This outcropping mineralized
alaskite is located approximately 14 kilometres to the west of Big Yellow. This
body has a strike of approximately four kilometres and has a surface area of
approximately four square kilometres. The body dips to the east. Helicopter
radiometric data over the Gaobis alaskite shows a distinct uranium channel
anomaly. On completion of these ten holes, the drilling rigs will be moved to
the Houms River area.
Field work
Ground truthing and field sampling of airborne radiometric targets continues.
This portion of the exploration program is continual and is expected to continue
well into 2008.
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has
approved the technical contents of this news release.