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Share Name | Share Symbol | Market | Type |
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Pitchstone Exploration Ltd. | TSXV:PXP | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Twenty eight drill holes were completed in the February 2011 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 February 28, 2011 news release).
Twelve of the recently completed drill holes were mineralized, bringing the total number of mineralized intersections to date at Marble Ridge to 20. The table below lists all of the mineralized intervals, including those drilled prior to February, 2011.
----------------------------------------------------------------- ----------------------------------------------------------------- Hole-ID From (m) To (m) Length (m) U3O8(ppm) V2O5(ppm) ----------------------------------------------------------------- DN09-21(i) 0.0 4.0 4.0 92 101 DN09-23(i) 6.0 8.0 2.0 298 134 DN10-54(i) 6.0 8.0 2.0 73 69 DN10-55(i) 8.0 10.5 2.5 43 59 DN10-56(i) 7.0 8.0 1.0 365 205 DN10-57(i) 9.0 10.0 1.0 86 98 DN10-58(i) 10.0 12.0 2.0 120 136 DN10-64(i) 13.0 14.0 1.0 187 129 DN11-79 7.0 9.0 2.0 143 148 DN11-82 9.0 10.0 1.0 199 139 DN11-83 9.0 11.0 2.0 26 61 DN11-84 8.0 10.0 2.0 56 88 DN11-85 9.0 11.0 2.0 109 82 DN11-86 7.0 9.0 2.0 72 59 DN11-88 7.0 9.0 2.0 138 84 DN11-89 7.0 8.0 1.0 109 107 DN11-92 12.0 13.0 1.0 145 107 DN11-93 14.0 15.0 1.0 73 121 DN11-98 4.0 7.0 3.0 219 167 DN11-99 7.0 9.0 2.0 51 407 ----------------------------------------------------------------- ----------------------------------------------------------------- (i) Drilled Prior to the February 2011 Drilling Program and Reported Previously
These results confirm that uranium and vanadium mineralization at Marble Ridge occurs within a calcrete paleochannel that is now estimated to be at least 1,900 meters long and 200 meters wide. The mineralization is open along strike. Pitchstone is also encouraged by the potential to find additional mineralized paleochannels within the 500 square kilometer Dome North area. More drilling at Marble Ridge and at other uranium targets at Dome North is planned.
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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