|
Home | Medical-Newswire.Com:
|
(EMAILWIRE.COM, July 10, 2007 ) Vancouver, Canada -- ESO Uranium Corporation (ESO: TSX-V), the Company, is pleased to announce that Cyr Drilling International of Winnipeg has commenced drilling a 100 hole program on its Cluff Lake properties, Saskatchewan.The Cluff Lake mines, which were mostly shallow, open pit operations, produced 63 million pounds of uranium oxide with an average grade of 0.93% and significant gold values. The first property to be drilled adjoins the boundary of the former Cluff Lake producer and is under option from Hathor Exploration Inc (HAT: TSX-V). ESO can earn a 50% interest before entering a joint venture and that earn-in will be completed early in this drilling program.The first drilling will be carried out on the Bridle Lake Zone to follow up on mineralization identified in assessment reports describing earlier drill results. Historical work on the zone, located just 2000 meters north of the Cluff Lake Mines boundary, included two percussion drill holes completed by the mine operator, AMOK (MOKTA), in 1979. These holes intersected 0.11% uranium oxide over 1.5 meters from 17.2 to 18.7 meters (CAR 316A) and 0.12% uranium oxide over 0.4 meters from 52.6 to 53 meters (CAR 278). Samples from the ESO drill program will be sent express to Loring Laboratories Ltd., in Calgary, who have considerable experience in the assaying of ores from the Cluff Mines.In addition to this first drill target, drilling is planned on several conductors that were detailed by airborne and ground electromagnetic surveys immediately to the east of the Bridle Lake Zone. These conductors were located close on the up-ice area from a radioactive boulder field reported by AMOK Ltee to have values up to 0.85% (17 lbs/st.) uranium oxide. Radon surveys by ESO also identified two areas of strongly anomalous radon gas in soils, close to the conductors. Radon gas, a product of the radioactive decay of uranium, can indicate the presence of uranium at depth in the bedrock.For reference, the current spot price quoted by Kitco for uranium is US$135 per pound of U3O8; an assay reported as 1.0% of U3O8 is equal to 20 pounds of uranium oxide per short ton – the conversion of percent metal or metal oxide from percent to pounds per short ton is done by multiplying the % value by 20.On behalf of the Board of Directors of ESO Uranium Corp. “Ben Ainsworth” Vice President, ExplorationFor corporate communications please contact: Tom Corcoran or Bob MeisterESO Uranium Corp.Vancouver, BCToll Free: 1-866-629-8368Phone: (604) 629-0293Email: info@esouranium.comPlease bookmark www.esouranium.com for future reference and ongoing updated information. The Toronto 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.###This press release was issued through GroupWeb EmailWire.com. For more information on press release distribution, go to http://www.emailwire.com.
Tom Corcoran or Bob Meister
info@esouranium.com 
Source: EmailWire.com
|
|
|
|
