High Grade Uranium Intersected in Sibley Basin: RPT Uranium Cuts 4.68 Percent U308 Over 0.72 Metres at Split Rapids Zone
08:30 EDT Monday, April 02, 2007
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) - Dr. Hikmet Akin, president of RPT Uranium Corp. (TSX VENTURE:RPT), is pleased to announce the results of the first phase of a winter diamond drilling program on the Split Rapids Zone on the company's Black Sturgeon Uranium property northeast of Thunder Bay, Ontario. The most significant result so far in the winter drill program is the intersection of 4.68% U3O8 over a core length of 0.72 metres in drill hole BSE07-02. A second hole, BSE07-03, also drilled on the same section, intersected 0.362% U3O8 over a core length of 0.30 metres.
Drill holes BSE07-02 and BSE07-03 were drilled on the same section as hole BS05-30 which intersected an impressive uranium grade of 2.99% U3O8 over a core length of 1.55 metres (see news release of October 31st, 2005).
A cross section illustrating these three drill holes will be posted on the company's website at www.rpturanium.ca.
To date, ten drill holes have been completed, totalling 2895 metres. These drill holes have all been drilled on or near the area of Zones D and G, two surface showings that were exposed during the original striping program in 2005. Surface grab samples from these zones gave assays up to 17.91% U3O8 (see news release of September 27th, 2006).
All the uranium mineralization found at Split Rapids to date has been discovered in or immediately adjacent to a 900 metre long band of Archean iron formation. Six surface occurrences of uranium were delineated during the 2005 stripping program, and a seventh was uncovered during further stripping in 2006.
Although the uranium occurs in Archean basement rocks, the mineralization is of Proterozoic age, and is believed to be related to the unconformity at the base of the Sibley group sediments (which have been removed by erosion in the Split Rapids area).
The company believes that the Sibley basin has the potential to host substantial unconformity-type uranium of the type found in the prolific Athabasca basin of Saskatchewan. Even though some of the earliest uranium discoveries in the Athabasca basin (Cluff Lake, Rabbit Lake, Collins Bay, Eagle Point) were hosted in basement rocks, the sub-Athabasca basement was largely ignored for many years. However, recent discoveries in the Athabasca basin, such as those at Shea Creek and Millenium, are now focussing much more attention on testing basement rocks below the unconformity and outside the basin.
In view of the encouraging results obtained to date at Split Rapids, the company is now commencing a phase 2 drilling program, which will test the whole length of the 900 metre long iron formation on a systematic basis. Twenty-one holes totalling approximately 3000 metres are planned. Drilling is planned to continue through the spring break-up.
Technical information in this news release has been prepared by Colin Bowdidge, Ph.D., P.Geo., vice-president of exploration for the company and a Qualified Person as defined in NI43-101. Assays quoted in this news release were performed by Loring Laboratories Ltd. of Calgary, using fluorimetric methods.
ON BEHALF OF THE BOARD,
Hikmet Akin, President
FOR FURTHER INFORMATION PLEASE CONTACT:
RPT Uranium Corp.
Ken Tangen
1-888-700-0477
(604) 736-5005 ext. 235
(604) 736-5004 (FAX)
Email: info@rampartventures.com
Website: www.rampartventures.com
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