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ESO Uranium Prepares to Drill on Mikwam Gold Project, Ontario |
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Vancouver, Canada, February 7, 2006: ESO Uranium Corp. ("ESO" or "the Company") ESO:TSX-V, announces that it has started construction of a field camp and road access for a 10-12 hole diamond drill program on its 100% owned Mikwam gold project in Ontario. The property covers approximately 11,500 acres along the western extension of the Casa Berardi Deformation Zone located near the Quebec/Ontario border in Noseworthy and Bradette Townships. The Casa Berardi Deformation Zone is host to the Casa Berardi gold mine that Aurizon is currently equipping for production in Quebec. Recently, access in the area of the Mikwam claims has been substantially improved by intensive logging activity. Falconbridge-Noranda in joint venture with Eastmain Gold Mines has been actively exploring their holdings on the north and south sides of the Mikwam block.
More than $8 million dollars in exploration has been spent from 1981 to the present on the Mikwam claims, principally by Newmont Canada Ltd. and Royal Oak Mines Ltd. The main target of the Company's current work program is gold veining within a strongly folded iron formation. The work by Royal Oak had identified a historical gold resource in this gold veining area, identified as the A8 3200 zone. K. Jensen wrote in his NI 43 101 compliant Technical Review of the Mikwam Property, dated September 29, 2003 (the "Report"): "In an internal report H.Miree noted that the area of the A8 3200 was insufficiently delineated to determine a proven or probable ore reserve calc ulation. The report indicated that a "geologically inferred resource estimated for this zone is 1,505,000 tonnes (1,657,740 tons) grading 3.21 g/t (0.094 oz/ton), thus the contained gold totals 155,857 oz. This estimate has not been recalculated by the writer and is considered as "exploration information" only and not a "resource" in the terms required by NI 43 101." The Report was prepared for the Company and may be available for review on SEDAR (www.sedar.com). These tonnage and grade figures do not comply with the definitions contained in NI 43-101, therefore readers should use caution when considering such figures and should not place undue influence upon them.
Part of the objective of the current program will be to check the grade and continuity of mineralization between drill holes used by Royal Oak in their A8 3200 zone estimate. Drill holes proposed by Royal Oak as a next phase of drilling in that zone will be completed to test an apparent improvement in tenor and thickness of the gold mineralization to depth.
In addition to the work outlined above, ESO is planning to drill test an area where several strongly anomalous basal till samples, collected by Newmont, were located in the Tadpole Lake area, approximately 6 kilometers west of the A8 3200 zone. Heavy mineral concentrates from basal till samples returned gold values of 10 to 54 g/t at 5 locations along a zone more than 1.5 kms long on the west side of the lake and no bedrock source has been located to date. Previous drilling in the area had all been done in a north south direction and the proposed work will include an initial test with 4 angle holes with an east west azimuth on the north (up ice) side of the highest basal till values.
About ESO Uranium Corp.
ESO Uranium Corp., a Vancouver based mineral resource company, is actively exploring for uranium in the Athabasca Basin in Saskatchewan and for gold in the Casa Berardi deformation zone in Ontario. The Company is well financed with over $6 million in its treasury.
The Company controls in excess of 860,000 acres of mineral claims in the Athabasca Basin making it one of the largest land holders in the world's most prolific uranium producing region. ESO is also exploring for gold on the Mikwam project located along the western extension of the Casa Berardi deformation zone in Ontario.
Benjamin Ainsworth, MA (Oxon), PEng, is the Qualified Person responsible for this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
Vice President, Exploration
For corporate communications please contact Investor Relations at ESO Uranium Corp. Phone: (604) 629-0293; Email:
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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. The historical information contained in this news release was obtained from reports prepared prior to the implementation of NI 43-101. Though the Company has no reason to doubt the accuracy of this information, readers should use caution when considering such information and should not place undue influence upon such.
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Last Updated on Thursday, 04 January 2007 06:35 |
