Trading Symbol TSX-V - ESO
Frankfurt - E2G
VANCOUVER, April 18, 2012 /PRNewswire/ - ESO Uranium Corp. (TSX-V: ESO), (the "Company" or "ESO") has been advised by Fission Energy Corp (TSX-V:FIS) that drill hole PLS12-013 has intersected a width of 19.5 meters with strongly anomalous gamma radiation values based on hand held scintillometer analysis at the Patterson Lake South (PLS) Joint Venture (JV) property.
- Located up-ice from the 2011 discovery of a large, high-grade boulder field (with grades up to 39.6% U3O8).
- The down hole gamma log shows a 19 m (63 feet) basement interval averaging 935 cps* starting at shallow depth (98.17 m.) from surface.
- Includes a 7.7 meter of interval that averages over 1000 cps including a1982 cps value.
- Located up ice from PDD11-06 which had 400 cps section in glacial till.
- Strong alteration signature of rocks in core from radioactive intersection
- "Skip Distance" from boulder field to PLS12-013 vicinity approximately 3 kms
- Accessible by road - 2kms from all weather Highway 955 Cluff Lake Mine road
*"cps" stands for counts per second due to gamma radiation measured by a borehole probe. All intersections are drill intersections and not necessarily true widths.
In the search for the source of the high grade boulders, 7 drill holes were completed in the first part of the programme (2011) that included PDD11-06. Gamma logs of two of the drill holes, PDD11-06 and PDD11-07, identified sections of radioactive till to the northeast of the uranium boulder field. The depth of these radioactive sections is consistent with a till sheet dipping to the NE from the uranium boulder at surface through PDD11-07 to the deeper section in PDD11-06. These two holes were located approximately southeast of PLS12-013, down ice from the current area of interest, and it appears that the elevated radioactivity in PDD11-06 may have been due to transport of radioactive material by the ice from the general area of PLS12-13.
The "Skip Distance" is the term for the distance from source to the first appearance of boulders from a bedrock source of mineralization in a sheet of till (rock and clay debris) produced by glacial (ice) scouring. As the ice moves across the land surface, it picks up rock by its scouring action and pushes it down-ice from the source until it rides up over earlier till deposits and may be exposed as a boulder field at the surface. The eastern flank of the uranium boulder field discovered by the JV last year is approximately 3 kms from the area between PLS12-13 and PDD11-06.
The programme has been extended from the 14 holes, originally reported, to 16 drill holes for this phase of the work. The drill contractor, Hardrock Drilling, has performed well, both in the drilling from the ice on Patterson Lake and through the thicker glacial till on the land west of Patterson Lake.
The Patterson Lake South JV is a 50%/50% joint interest held with Fission Energy Corp. The property is located on the all weather road to the former Cluff Lake mine which produced more than 60 million lbs U3O8 and which also passes the Shea Creek deposits of UEX-Areva 50 km north of the PLS property. The Shea Creek deposits are located along a 3 km long system and represent a significant sized resource with mineralization extending from the overlying Athabasca sediments to depths of several hundred meters into the basement rocks beneath them. The target mineralization on the PLS property is a shallow subcropping body (or bodies) of uranium, being the source of the high grade uranium boulders located in 2011.
The reader is cautioned that a total count scintillometer reading is the result of natural gamma radiation that may come from various sources including cosmic radiation, thorium, potassium and uranium and its radioactive decay products. CPS (counts per second) values cannot be certain to correlate with uranium grades of the rock but are a general guide of the radioactivity of minerals present in rock placed in proximity to the instrument.
B.Ainsworth P.Eng. SK/BC is the Qualified Person responsible for the technical disclosure contained in this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
Vice President, Exploration
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements". These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding these Properties. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.
United States residents are cautioned that some of the information that may be published by ESO Uranium Corp. may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.
SOURCE ESO Uranium Corp.