Pitchstone Completes Namibia Uranium Drilling Program
February 28 2011 - 7:00AM
Marketwired
Pitchstone Exploration Ltd. (TSX VENTURE: PXP) ("Pitchstone")
announces that a program of reverse circulation drilling has been
completed at the Marble Ridge zone of calcrete-hosted uranium
mineralization on the Dome property in Namibia. The property
location relative to the nearby Rossing and Langer Heinrich uranium
mines, and other uranium occurrences in the Erongo region, is
illustrated on Pitchstone's website (www.pitchstone.net).
A total of 28 drill holes have been completed in the current
program to follow up on results from drilling in 2010 that
intersected a horizontal, near surface layer of uranium and
vanadium mineralization in calcrete (see October 13, 2010 news
release). The layer is generally 1 to 2 meters thick and was
defined over an area measuring approximately 400 x 200 meters by
the 2010 drilling.
Down hole total gamma probe results indicate that 11 of the 28
recently completed drill holes have intersected elevated
radioactivity within calcrete at depths between 4 and 15 meters
below surface. The radioactive calcrete is within an interpreted
paleo-channel that is currently indicated to be 1,900 meters long
and 200 meters wide. All drill holes completed to date within the
paleo-channel exhibit elevated radioactivity and the feature is
still open in several directions. The probe results suggest that
the thickness and grade of the radioactive intervals are similar to
those reported from previous campaigns. Samples of all intervals of
elevated radioactivity have been collected and submitted to a
laboratory for geochemical analysis and results are pending.
Steve Blower, P.Geo., President and CEO of Pitchstone, is the
Qualified Person for the purposes of NI 43-101 with respect to the
technical information in this news release. Sample preparation and
analyses were completed by Bureau Veritas in Swakopmund, Namibia. A
multi-element ICP-MS/AES analysis was completed on the samples
after a mixed acid, near-total digestion. Pitchstone utilizes
internally and externally submitted standard reference materials
for quality assurance and quality control of the sample preparation
and analyses. Dome is part of a uranium exploration joint venture
between Pitchstone (69%) and private company Manica Minerals Ltd.
(31%) through Manica's wholly-owned subsidiary Cheetah Minerals
Exploration Ltd. Pitchstone's exploration programs in Namibia are
carried out by Cape Town based Remote Exploration Services on
behalf of the joint venture.
About Pitchstone
Pitchstone is exploring for uranium in three proven districts in
Canada and Namibia. The property portfolio features 11 projects in
the eastern Athabasca Basin, Saskatchewan, three of which are 100%
owned. In addition, there is a joint venture on two projects in
Namibia and several joint venture projects in the Hornby Bay Basin,
Nunavut. Pitchstone benefits from the collaboration of a unique
group of geologists with extensive uranium exploration and
production experience.
On behalf of the Board,
Steven J. Blower, President and CEO
This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties
and are subject to factors, many of which are beyond Pitchstone's
control, that may cause actual results or performance to differ
materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Pitchstone Exploration Ltd. Claire Stewart 604 630
5563 Pitchstone Exploration Ltd. Mark T. Brown CFO 604 687 3520
www.pitchstone.net
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