Mikwam Gold Exploration Program to Commence Early 2006
(EMAILWIRE.COM, December 07, 2005 ) Vancouver, Canada -- ESO Uranium Corp. (ESO or "the Company") ESO:TSX-V has announced that it has received the final report of an airborne geophysical survey carried out on its Mikwam Gold project on the Casa Berardi Deformation Zone, south of the Detour Lake area in northeastern Ontario. Utilizing Aeroquest's Aerotem II system, 144 line km were flown on a 100m line spacing to follow up on existing data and provide more detailed coverage for targeting a drill program in a key area of the project.
The report concludes that the strongest EM anomalies occur in the north central and north western portion of the survey area and tend to be continuous. Several of the more conductive anomalies are of shorter strike length and are considered to be high priority for drill testing.
The 100% owned Mikwam claims cover an area of approximately 11,491 acres over the Casa Berardi Deformation zone. This zone extends westward from the Casa Berardi gold project of Aurizon Mines in Quebec, approximately 25 miles (40 kms) to the Mikwam project. The Casa Berardi Project is being readied for production in November 2006, following a successful $28 million financing. The Mikwam project has been the subject of exploration expenditures of more than $11 million by past operators including Newmont, Rio Tinto, and Noranda. To date, the best defined and most continuous zone of alteration and gold mineralization is referred to as the A8 Domain.
An internal report for Highwood Resources, dated February 2, 2000 (prior to the institution of NI 43-101), stated that a geologically inferred resource for this zone was estimated at 1,504,300 tonnes
grading 3.2 g/t (155,827 oz). As stated in the qualifying NI 43-101 Technical Review of the Mikwam Property, by K.A. Jensen & Associates Ltd. dated Sept. 29th, 2003, for the Company. "This estimate has not been recalculated by the writer and is considered exploration information only and not a resource in the terms required by NI 43-101".
Previous drilling by Newmont in the A8 Zone, which is open to depth and along strike, returned drill intersections which included the following assays:
Drill Core Grade
Hole # length m g/t
97-19 28.70 2.01
94-12 16.27 3.08
94-10 12.30 4.19
92-1 7.20 5.62
The Company's drill program is scheduled to commence in early 2006, and will focus on testing the A8 Zone at depth and along strike. Additional new targets recommended by the Aerotem survey will be also be tested.
About ESO Uranium Corporation:
The company is a junior resource issuer with a 100% interest in the Mikwam claims located in the Noseworthy Township of Ontario, subject to certain overriding royalties. The Mikwam claims are located in the western extension of the Casa Berardi Deformation Zone which is an area of historical gold and other precious metals mineralization.
The company also holds an interest in over 860,000 acres of mineral claims located in the Athabasca Basin in Northern Saskatchewan. The Athabasca Basin area is known to host uranium and other precious metals mineralization. Ben Ainsworth, P. Eng is the Qualified Person responsible for this news release.
On behalf of the Board of Directors of ESO Uranium Corp. "Ben Ainsworth" Vice President, E xploration.
For corporate communications please contact Tom Corcoran, InvestorRelations, ESO Uranium Corp., North America Toll Free 1 - 866 - 629 - 8368, email: tcorcoran@esouranium.com,
web site: www.esouranium.com
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management. Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission.
The report concludes that the strongest EM anomalies occur in the north central and north western portion of the survey area and tend to be continuous. Several of the more conductive anomalies are of shorter strike length and are considered to be high priority for drill testing.
The 100% owned Mikwam claims cover an area of approximately 11,491 acres over the Casa Berardi Deformation zone. This zone extends westward from the Casa Berardi gold project of Aurizon Mines in Quebec, approximately 25 miles (40 kms) to the Mikwam project. The Casa Berardi Project is being readied for production in November 2006, following a successful $28 million financing. The Mikwam project has been the subject of exploration expenditures of more than $11 million by past operators including Newmont, Rio Tinto, and Noranda. To date, the best defined and most continuous zone of alteration and gold mineralization is referred to as the A8 Domain.
An internal report for Highwood Resources, dated February 2, 2000 (prior to the institution of NI 43-101), stated that a geologically inferred resource for this zone was estimated at 1,504,300 tonnes
grading 3.2 g/t (155,827 oz). As stated in the qualifying NI 43-101 Technical Review of the Mikwam Property, by K.A. Jensen & Associates Ltd. dated Sept. 29th, 2003, for the Company. "This estimate has not been recalculated by the writer and is considered exploration information only and not a resource in the terms required by NI 43-101".
Previous drilling by Newmont in the A8 Zone, which is open to depth and along strike, returned drill intersections which included the following assays:
Drill Core Grade
Hole # length m g/t
97-19 28.70 2.01
94-12 16.27 3.08
94-10 12.30 4.19
92-1 7.20 5.62
The Company's drill program is scheduled to commence in early 2006, and will focus on testing the A8 Zone at depth and along strike. Additional new targets recommended by the Aerotem survey will be also be tested.
About ESO Uranium Corporation:
The company is a junior resource issuer with a 100% interest in the Mikwam claims located in the Noseworthy Township of Ontario, subject to certain overriding royalties. The Mikwam claims are located in the western extension of the Casa Berardi Deformation Zone which is an area of historical gold and other precious metals mineralization.
The company also holds an interest in over 860,000 acres of mineral claims located in the Athabasca Basin in Northern Saskatchewan. The Athabasca Basin area is known to host uranium and other precious metals mineralization. Ben Ainsworth, P. Eng is the Qualified Person responsible for this news release.
On behalf of the Board of Directors of ESO Uranium Corp. "Ben Ainsworth" Vice President, E xploration.
For corporate communications please contact Tom Corcoran, InvestorRelations, ESO Uranium Corp., North America Toll Free 1 - 866 - 629 - 8368, email: tcorcoran@esouranium.com,
web site: www.esouranium.com
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management. Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission.
Contact Information:
ESO Uranium Corp.
Joseph Nchor
Tel:
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
ESO Uranium Corp.
Joseph Nchor
Tel:
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
|
Private Equity, Angel Investing
Equity Alliance / Private Equity, Angel Investing, / IPO, Venture Capital & IR services / Equity Alliance International Equityallianceir.com Penny Stocks to Watch Sign up for hot penny stock picks Gains of 500%+ possible! Premiumstockpicks.com/landing/ Your text Ads & PR Text Ads plus unlimited press releases, One release featured/Day for only $575 per month. Read more on Text Ads & PR Your text Ads Here! Text Ads are only $289 per month. Ads are placed same day. More on Text Ads Advertising |