ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

WUC Western Uranium Corp.

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Western Uranium Corp. TSXV:WUC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Western Uranium Provides Baza Project Update

06/04/2010 1:30pm

Marketwired Canada


Western Uranium Corporation (TSX VENTURE:WUC) ("Western" or "the Company") is
pleased to provide an update on the Baza gold-copper project located in
southeastern Spain midway between Granada and Almeria. Drilling of approximately
3000 meters of core is scheduled to commence mid-April and will provide a first
pass drill test of two areas: Cerro del Gallo and El Valenciano. This project
represents a large regional exploration play covering an area 25 kilometers in
strike by 10 kilometers in width. Extensive anomalous gold and copper is found
at surface in shears and veins exposed in historical small scale iron mines.
Anomalous mineralization is also found in outcrops throughout the project in
areas where no evidence of past small scale mining is present. Despite having
numerous widespread surface indications of anomalous copper and gold
mineralization, the area has never been explored using modern exploration
techniques. Since entering into the earn-in agreement with AuEx Ventures Ltd. in
October 2009, Western has focused exploration on identifying mineralizing
controls on what is an enigmatic geologic setting. Various workers have
suggested the area exhibits features found associated with
iron-oxide-copper-gold (IOCG) systems, yet other workers suggests the style of
mineralization is related to an epithermal system.


To date, 133 rock and channel samples have been collected over the area at the
Cerro del Gallo target. Forty-four samples have returned values greater than 1
g/t gold with a high of 19 g/t and 51 have returned over 0.5 g/t gold. Of the
133 samples, 87 returned values greater than 1000 ppm copper and 47 yielded
values greater than 5000 ppm copper. At El Valenciano values for 39 rock and
trench samples have been received from this area. Of these samples 17 have
returned values greater than 0.1 g/t gold with eight samples returning greater
than 0.5 g/t gold. Copper is strongly anomalous in this location and 20, or over
50% of the samples have returned values greater than 5000 ppm, with 12 samples
returning over 1.0% copper values.


At Cerro del Gallo (CdG) detailed mapping and sampling along with ground
magnetic and gradient array IP geophysical surveys have been conducted to assist
in identifying mineralizing controls and selecting drill targets. These
geophysical surveys have successfully highlighted the strike length of known
mineralized structures at CdG and identified two strong magnetic susceptibility
responses two kilometers to the north of known mineralization Initial
interpretation by a contract geophysicist of the gradient array survey suggests
sulfide mineralization may be present in the surrounding host rocks (schists,
quartzites, and siltstones). The IP response values are above normal values
returned for these rocks and may be attributable to sulfides in concentrations
up to 5%. The samples and ground geophysical surveys are from an area a nine
square kilometer area which represents only one target in the overall 250 square
kilometers covered by the project. Five to six core holes are planned as a first
pass test at Cerro del Gallo with drilling tentatively scheduled to begin April
12th. Following drilling at CdG the equipment will be moved to El Valenciano for
drill testing.


El Valenciano is located approximately 2 km to the southwest of Cerro del Gallo.
Due to time constraints only mapping and sampling have been undertaken at El
Valenciano but the area will be covered by the airborne DIGHEM EM geophysical
survey scheduled for May that will cover the entire 250 square kilometers of the
project. Mineralizing controls at El Valenciano appear to be similar but in
addition to the high angle structures, recent trenching uncovered a mineralized,
low angle structure that is at least 2 meters thick. Due to the silicification
of what may have been a limestone bed, the backhoe was unable to cut deeper and
determine the total thickness of the altered structure. Samples have been taken
from this trench and submitted for analyses. The significance of a mineralized
low angle structure is the suggestion that stratabound gold and copper
mineralization may also present another type of target. Work to date has
identified mineralization over an area 1km x 1km that with additional work will
likely expand. A five to six core hole drill test will commence following the
completion of the last drill hole at Cerro del Gallo.


The two areas selected for drilling represent a small portion of the overall
project area and additional geologic mapping and sampling has continued to
identify numerous additional localities within the project boundary that also
warrant drill testing in future phases of the program. Mapping and sampling 6
kilometers south-east of the initial drill areas has recently identified an
intermediate-felsic dyke that demonstrates clear evidence of its association
with silicification and copper-arsenic mineralization. The silicification
included thin, open-space fillings of chalcedonic silica containing copper, iron
and arsenic sulfide specks. The specks of copper and arsenic sulfides are found
in both the altered dyke and in the chalcedonic veins. These veins are similar
in appearance to material found in the throat of epithermal related systems.
Samples from this dyke have been taken and submitted for geochemical analyses;
most results are pending but one expedited sample yielded 0.97 g/t gold and
0.362% copper.


The extent and persistence of alteration, mineralization and the fact that this
project has not been drill tested continues to confirm the Company's decision to
enter into this agreement with AuEx Ventures Ltd. to expand into gold and copper
exploration. These opportunities are infrequent in this day and age and it is
rare to find a project of this merit in a country that has been explored by a
number of major companies throughout the years that has not been subjected to
modern exploration techniques.


Review by Qualified Person

The technical content of this news release has been reviewed and approved by Mr.
Douglas Bowden. Mr. Bowden is a Registered Geologist in the State of Utah and a
qualified person as defined by National Instrument 43-101.


About the Company

Western Uranium Corporation is a mineral exploration company. The Company has
exploration properties in Nevada, New Mexico and in the Thelon Basin, Nunavut
for uranium and has entered into an earn-in agreement with AuEx Ventures for the
Baza gold-copper project in Spain. The Company has its head office in Vancouver,
Canada; its executive management team is based in Reno, Nevada. The Company also
has a 24% interest in Western Lithium Canada Corporation (WLC). WLC was a
spinout from WUC and began trading on the TSX Venture exchange July 2008.


On behalf of the Board of Western Uranium Corporation

Pamela J. Klessig, President & CEO

1 Year Western Uranium Corp. Chart

1 Year Western Uranium Corp. Chart

1 Month Western Uranium Corp. Chart

1 Month Western Uranium Corp. Chart

Your Recent History

Delayed Upgrade Clock