Aldershot Resources Ltd.: Significant Uranium Showings on Zambian Projects
January 10 2008 - 9:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: ALZ) is pleased to
provide Mr. Ian Faris', VP Exploration and a Qualified Person,
latest overview on the Company's Kariba Uranium Project where data
compilation, reconnaissance mapping and footborne radiometric
surveys have been completed and assay results have been recently
received.
Twenty rock samples were submitted for assay to ALS Chemex,
Johannesburg for analysis by ICP-MS after an aqua regia digest. The
results were received at the end of December 2007. Of the 20
samples submitted, 13 returned values greater than 200 ppm U3O8
with 3 greater than 1000 ppm U3O8. The 3 samples with greater than
1000 ppm U3O8 are from areas near Sinazongwe (Zeze and Makonkoto
areas) and confirm Aldershot's belief that the entire Escarpment
Grit Unit is prospective.
The Kariba Uranium Project is located on the northwestern side
of Lake Kariba in southern Zambia, 160 kilometres south of
Lusaka.
Aldershot's Kariba Project (100% owned) is defined by a
prospecting licence PLLS310 which covers an area of approximately
780 square km and is part of the northern margin of the Zambesi
Rift System and the prospective Karoo age sediments. Over 70 km of
the Escarpment Grit Unit of the Karoo is exposed in the licence
area.
The Escarpment Grit Unit hosts Denison/OmegaCorp's Dibwe,
Mutanga and Bungua Deposits approximately 15 km to the north, which
together contain a JORC compliant Inferred Resource of 13.7 million
pounds of U3O8 (Denison, December 5, 2006). Recent drilling at
African Energy's Chisebuka Prospect located 6 km to the west has
also confirmed the presence of near-surface sandstone-type
mineralization that may be amenable to open pit extraction (African
Energy, December 14, 2007).
Following the grant of PLLS310 in December 2006, all available
historical data was compiled, a Level 1 Risk Assessment for
landmines was completed, the prospecting licence boundary was
surveyed and an Environmental Project Brief was submitted to the
Environmental Council. This work was in preparation for ground
follow-up of radiometric anomalies detected by the airborne survey
planned for mid-2007. The historical data compilation identified
six areas worthy of ground checking and foot-borne radiometric
surveys were conducted over these areas.
The six areas identified were covered by widely spaced (400m x
50m) radiometric foot-borne surveys, supported by geological
observations and rock chip sampling. The follow-up of anomalies
detected returned up to 849 counts per second (RadEye PRD
scintillometer) compared to a background of approximately 30 cps.
Twenty rock samples were submitted for assay and the results were
received at the end of December 2007. The following is a summary of
the sampling results:
------------------------------- -------------------------------
U U3O8 U3O8 U U3O8 U3O8
SAMPLE ppm ppm lbs/ton SAMPLE ppm ppm lbs/ton
------------------------------- -------------------------------
V1802 51 60.1 0.1 V1908 312 367.9 0.7
V1803 14.95 17.6 0.0 V1909 258 304.3 0.6
V1804 10.3 12.1 0.0 V1910 72.2 85.1 0.2
V1805 4.74 5.6 0.0 V1911 1460 1721.7 3.4
V1901 639 753.6 1.5 V1912 381 449.3 0.9
V1903 823 970.5 1.9 V1913 1335 1574.3 3.1
V1904 169.5 199.9 0.4 V1914 247 291.3 0.6
V1905 130.5 153.9 0.3 V1915 297 350.2 0.7
V1906 337 397.4 0.8 V1916 160.5 189.3 0.4
V1907 1355 1597.9 3.2 V1917 342 403.3 0.8
------------------------------- -------------------------------
As earlier indicated, of the 20 samples submitted, 13 returned
values greater than 200 ppm U3O8 with 3 greater than 1,000 ppm
U3O8. Aldershot has an application pending for a new Prospecting
Licence (Sinazongwe) covering 250 square km that is adjacent to the
southern edge of its Kariba Licence.
Ongoing delays to the commencement date of the airborne survey
eventually caused its postponement until after the rainy season. It
is now expected to be flown in about April/May 2008 and follow-up
of anomalies detected will commence once the results are
available.
About Aldershot Resources Ltd.
Aldershot Resources Ltd. is a junior uranium exploration company
focused on projects in Australia, Canada, Zambia and Chile. The
Company's most advanced projects are located in Australia where
Aldershot is actively drilling to confirm and expand historical
resource estimates. The Company is aggressively pursuing corporate
growth through drilling and sampling on all of its properties as
well as through acquisition opportunities. Aldershot is committed
to become a dominant junior uranium exploration and production
company.
FOR AND ON BEHALF OF THE BOARD
ALDERSHOT RESOURCES LTD.
Jeremy Caddy, President and Director
This release has been prepared by management and no regulatory
authority has approved or disapproved the information contained
herein. Information in this report, insofar as it relates to
resources' estimation and exploration activities, is based on
information compiled by Ian Faris who is the Company's senior
uranium geologist and who has more than ten years experience in the
field of the activity being reported on. This report accurately
reflects the information compiled by this Professional
Engineer.
Should you wish to receive Company news via email, please email
catarina@chfir.com and specify "Aldershot News" in the subject
line.
Aldershot Resources, based in Vancouver, Canada, is a uranium
exploration company currently with projects in Northern Territory,
Western Australia, Quebec and Zambia. Shares of the Company are
listed for trading on the TSX Venture Exchange and there are
64,883,308 shares outstanding.
Cautionary Language and Forward Looking Statements
This press release may contain "forward-looking statements",
which are subject to various risks and uncertainties that could
cause actual results and future events to differ materially from
those expressed or implied by such statements. Investors are
cautioned that such statements are not guarantees of future
performance and results. Risks and uncertainties about the
Company's business are more fully discussed in the Company's
disclosure documents filed from time to time with the Canadian
securities authorities.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
News Release.
Contacts: Aldershot Resources Ltd. Jeremy Caddy President &
Chief Executive Officer (604) 682-6718 Email: jcc4tlx@intergate.ca
Website: www.aldershotresources.com CHF Investor Relations
Christopher Haldane Associate Account Manager (416) 868-1079 ext.
237 Email: chris@chfir.com
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