There is news...RPT Uranium drills 0.5 metre of 0.32 g/t Au at Sibley
2008-06-17 13:47 ET - News Release
Mr. Marshall Bertram reports
RPT URANIUM COMPLETES DRILL PROGRAM IN SIBLEY BASIN AND CONTINUES TO SEARCH FOROTHER OPPORTUNITIES IN ENERGY SECTOR
RPTUranium Corp. has completed a 3,306-metre, winter-spring diamonddrilling program on its Sibley basin uranium property north of ThunderBay, Ont. Fourteen holes were drilled into a variety of targets nearthe western edge of the Sibley basin.
Five holes were drilledinto iron formations, as indicated by strong, linear airborne magneticanomalies. Previous exploration had established a relationship betweeniron formation and uranium mineralization in the Split Rapids area atthe eastern margin of the Sibley basin. No uranium was encountered inthe 2008 drill holes. However, hole BL08-13, where the iron formationhad feathered out into a number of very narrrow slivers close to amajor northwest-trending fault zone, cut a short section of ironformation carrying pyrite, pyrrhotite and chalcopyrite. A 0.50-metresection assayed 0.32 gram per tonne gold. Drill hole BL08-14, the lasthole of the program, cut a 26-metre section of iron formation on theopposite side of the fault. It was mineralized throughout with pyrite,pyrrhotite and chalcopyrite. Samples have been sent to be assayed forgold.
Seven holes were drilled into airborne electromagneticanomalies, which were all caused by graphite-bearing metasediments. Theassociation between graphitic basement rocks and unconformity-relateduranium mineralization is well known in the Athabasca basin ofSaskatchewan. None of the 2008 drill holes encountered uranium --however, hole BL08-11 intersected a wide zone of clay, chlorite andhematite alteration extending from the unconformity at the base of theSibley sediments to 50 metres down into the basement. This type ofalteration is almost always associated with unconformity-type uraniummineralization, and its presence is regarded as a favourable indicationof the area's uranium potential.
Two holes were drilled intodiscrete magnetic anomalies, of which one was determined to be causedby an outlier of a diabase sill. The other, tested by hole BL08-06, wascaused by a body of serpentinized peridotite. Although there was nosulphide mineralization present, the area clearly has potential fornickel-copper-PGE mineralization.
RPT's Sibley basin claimscurrently cover 221,000 acres within a 125-by-65-kilometre area of theSibley basin, of which approximately one-third consists of Archeanbasement rocks where the sedimentary cover has been removed by erosion.All technical information herein has been compiled and/or reviewed byDr. Colin Bowdidge, PGeo, vice-president of exploration for the companyand a qualified person as defined in NI 43-101.
In addition toexploring for uranium in Canada, RPT Uranium continues to explore forother large-scale projects globally that fall within the energy sector.RPT Uranium is well financed with approximately $15-million in itstreasury.
For personal reasons, effective June 10, 2008, Dr.Peter Kausch has resigned as a director from the board of the companybut will remain as a consultant to RPT Uranium. Replacing Dr. Kausch onthe company's board is Michelle Gahagan, LLB, a graduate of Queen'sUniversity law school. Ms. Gahagan has practiced corporate law since1986, articled at Broughton and Company and was also associate counselto the Vancouver firm of Douglas Symes and Brissenden.
We seek Safe Harbor.
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