Aldershot Resources Ltd.: More Uranium Intersections at the George Project
January 15 2008 - 9:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: ALZ) is pleased to
provide Mr Ian Faris', Aldershot's VP Exploration and a Qualified
Person, latest overview of the drilling results at the Company's
George Creek Project in the NT, Australia.
The 2007 diamond drilling program involved drilling at the
abandoned Adelaide River Mine (2 holes for 375m) and the George
Creek Prospect (2 holes for 177m). The drilling tested the historic
mineralization, provided samples for assay and provide core for
petrographic and structural studies. Half core samples were assayed
by ICP-MS following a 4 acid digest, at Northern Territory
Environmental Laboratories (NTEL) in Darwin, NT.
The George Project is located 100 kilometres south of Darwin and
40km south of the Rum Jungle Uranium Field. As reported previously,
the Adelaide River Mine was mined until 1957 and then re-evaluated
by the BMR (Australian Government) in 1959-60. In 1960, Plumb
reported reserves of 6,350 tonnes of ore averaging 0.32% U3O8. The
George Prospect was discovered in 1954 by the BMR and investigated
during the period 1954-1960, and had a total of 120 tonnes of ore
grading 0.26% U3O8 extracted (Arkin and Walpole, 1960). Private
companies carried out uranium exploration until the late 1970s. The
above results are historical estimates and do not comply with the
Australian JORC or NI #43-101 reporting requirements and they
should not be interpreted as such. The results can not be validated
and are not considered by the Company to be a current resource or
reserve but rather to identify zones of uranium mineralisation that
were the target of the drilling exploration programs.
Adelaide River Mine
ARDDH001 intersected minor uranium mineralization at centred at
93.75m with associated pyrite and chalcopyrite and shearing with
sericite alteration observed at the end of the hole. Assays
returned up to 70 ppm U3O8 from 192-193m. The subsequent hole,
ARDDH002, intersected 0.72% (14.7 lbs/t) U3O8 over 4 metres
(90.7-94.7m) including the following intervals:
- 2.86% U3O8 over 0.8m (90.7 - 91.5m)
- 0.46% U3O8 over 0.6m (91.9 - 92.7m)
- 0.42% U3O8 over 0.4m (93.5 - 93.7m)
- 0.16% U3O8 over 0.6m (94.1 - 94.7m)
with associated Co (7.5%), Cu (1.9%) and Ni (4.4%).
George Creek Prospect
GCKDDH008 was abandoned at 32m when historic workings were
intersected but assays returned:
- 619 ppm U3O8 over 0.40m (25.33 - 25.73)
- 731 ppm U3O8 over 0.50m (31.58 - 32.08)
The subsequent hole GCKDDH009 intersected:
- 0.48% U3O8 over 1.0m (21.93 - 22.93) with anomalous Co, Ni,
Cu, Pb, Zn values.
Uranium mineralization at the George Project is vein type
mineralization associated with structures within the Burrell Creek
Formation and distinctive alteration. Mapping around the George
Creek Prospect during 2007 has identified two zones of anomalous
radioactivity (up to 1500 cps, Saphymo SRAT SPP2 scintillometer)
400m north of the Prospect with a second zone 250m north. These
areas of anomalism, alteration and shearing define a NNW trending
structural target that will become the focus of exploration around
the George Creek Prospect in 2008.
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 (604) 682-6722 (FAX) 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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