ESO NEWS
ESO starts MPX Geophysics on helicopter-borne magnetic and radiometric surveys on East Athabasca uranium properties in Saskatchewan
Trading Symbol TSX-V: ESO
Frankfurt: E2G
VANCOUVER, July 19 /CNW/ - ESO Uranium Corporation (TSX-V: ESO), the
Company, is pleased to announce that MPX Geophysics Ltd of Richmond Hill is
starting helicopter based magnetometer and radiometric surveys on the 100%
owned East Athabasca Basin properties, Saskatchewan. The contract calls for
flying more than 15,000 kms of flight path and will blanket the approximately
625,000 acre (250,000 hectare) claim area.
Survey coverage will include anomalous boulder trains identified in
earlier work by Uranerz in the southwest section of the property and anomalous
geochemistry along structures to the north of this section. These structures
may be part of the Cable Bay Shear Zone. A wide spaced 15 hole drill program
was carried out over 30 kms of strike length on these structures, largely
within the ESO claim boundary. Cogema Resources reported anomalous boron in
some holes and minor uranium mineralization (up to 0.04% U from a partial
uranium assay) in drill hole CR-14 just outside the ESO property boundary.
Other areas of particular interest in this airborne survey include extensions
of the Mullins-Johnstone Lake conductors that were identified from earlier
work by Cogema and Interuranium on the northern and eastern part of the main
claim block. The Hatchet Lake property, a separate claim block to the
northeast of the main claims, will also be flown to evaluate radioactive
showings at the eastern edge of the Athabasca Basin in basement rocks close to
the unconformity. The Hatchet claim block was staked on the strong
recommendation of ESO Chief Geologist R. J. Beckett, PGeo.
The objective of the work is to develop drill targets that will be tested
later this year and will add to the drilling program, now underway in the West
Athabasca property interests of ESO. (See ESO news release July 9, 2007)
The radiometric survey will be used to identify possible leakage of
uranium mineralization up fault zones and uranium mineralization in boulder
trains. The boulder trains were formed by ice scouring the present subcropping
bedrock and re-depositing glacial sediments down-ice. The equipment used for
the radiometric survey consists of two GRS-410 multi-channel gamma-ray
spectrometers with a combined crystal pack volume of 2048 cubic inches, which
is twice the size of the crystal pack typically deployed by Canadian
contractors.
Size makes a difference and the larger volume significantly increases the
quality of the collected data from the gamma-ray detector. In addition to the
conventional radiometry, data will be processed to identify gamma-ray plumes
due to natural diffusion of radon from fault zones and/or boulder trains into
the air. Radon gas, a product of the radioactive decay of uranium, can
indicate the presence of uranium at depth in the bedrock and in boulder
trains. Although radon is mainly an alpha particle emitter it decays to
radio-isotopes that are gamma-ray emitters that can be detected with a
sensitive gamma-ray spectrometer.
A high sensitivity magnetometer system deployed with the radiometric
system will be sampling at a rate of ten times a second with an in-flight
sensitivity of 0.002 nT. The magnetic data will help define structure and map
geological features in the basement rocks. This combined survey will be
carried out at low altitude and slow speed (60kts), allowing a much more
detailed sampling than can be achieved safely with fixed wing aircraft.
The quality control overview of the geophysical surveys will be executed
by MPH -3 weeks. In the next 10 days, MPH will be completing the first phase
field work in the project area. An extensive program of boulder sampling,
stream and lake sediment sampling and prospecting has been carried out in
selected areas of the East Athabasca properties. This work will be used to
select further areas for ground geophysical grids to define drill targets that
may be available for this year. The work completed on the properties including
the airborne geophysics and ground surveys is estimated to cover the
assessment costs required for keeping all of the claims in good standing.
For reference, the current spot price quoted by uxc.com for uranium is
US$130 per pound of U3O8; an assay reported as 1.0% of U3O8 is equal to 20
pounds of uranium oxide per short ton: The conversion of percent metal or
metal oxide from percent to pounds per short ton is done by multiplying the %
value by 20.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
----------------
Vice President, Exploration
Please refer to the ESO Uranium website for further and updated
information.
The Toronto Venture Exchange has not reviewed nor accepted responsibility
for the adequacy or accuracy of the contents of this news release which has
been prepared by management. Statements contained in this news release that
are not historical facts are forward looking statements as that term is
defined in the private securities litigation reform act of 1995. Such forward
looking statements are subject to risks and uncertainties which could cause
actual results to differ materially from estimated results. Such risks and
uncertainties are detailed in the Company's filing with the Securities and
Exchange Commission.
For further information: For corporate communications please contact:
Tom Corcoran or Bob Meister, ESO Uranium Corp., Vancouver, BC, Phone: (604)
629-0293, Toll Free: 1-866-629-0293, Email: info@esouranium.com
