Rome hops on uranium bandwagon with Argentina claims
2006-03-02 18:52 ET - News Release
Mr. Colin Godwin reports
ROME OBTAINS SEVEN CONCESSIONS FOR URANIUM IN THREE AREAS TOTALING 60,800 HECTARES IN THE PROVINCES OF LA RIOJA AND SAN LUIS, CENTRAL ARGENTINA
Rome Resources Ltd. has obtained seven concessions for uranium prospecting in three areas of central Argentina by application directly to the provincial governments of San Luis and La Rioja. The areas were staked because they potentially hold significant uranium deposits. Uranium exploration in Argentina is a new direction for Rome Resources. The concession areas are as follows:
Olta, totalling 45,000 hectares in five concessions Santa Rosa, with 9,800 hectares in one concession, and La Suiza of 6,000 hectares in one concession. The concessions have claimed rights to all lode minerals, but several small placer and industrial-mineral claims fall within the boundaries of these applications.
Olta concessions (45,000 hectares), in La Rioja province, are about 80 kilometres north-northeast of the town of Chepes. Uranium mineralization of interest was discovered in Permian conglomerate within 50 metres of an underlying unconformity with "hot" metamorphic and granite Precambian basement. Black, carbon-rich shales in the Permian rocks are notably radioactive as well. Of particular interest, is the uranium rich (1,600 parts per million uranium) zone associated with staining by secondary minerals in the conglomerate. An underlying shale unit yielded more than 50,000 counts per minute above background. The mineralized conglomerate indicates ground water transport, perhaps related to the underlying basement aquatard-unconformity, that could be related to localization of significant uranium deposits.
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