HMI up 33% on uranium news ...
Hinterland Outlines 11.5km Uranium Anomaly at Hearne Project, Manitoba
Monday October 22, 9:27 am ET
Shares Issued 43,502,201
TORONTO, Oct. 22 /CNW/ - Hinterland Metals Inc. (TSXV: HMI) is pleased to announce the results of a high sensitivity combined magnetometer and spectrometer airborne survey recently flown over the 12,916ha Hearne project located approximately 120km west of Churchill in Northern Manitoba. The survey has outlined an 11.5km chain of strong radiometric uranium responses trending from northwest to southeast. This trend varies from 0.9 to 1.7km wide and corresponds to a mature sequence of fuchsite-bearing quartzites and quartz pebble conglomerates that form a distinct lobe extending northwest towards a larger sedimentary basin. The larger basin is similar to a number of other Paleoproterozoic intracratonic basins that are found on the margins of the Churchill Province of the Canadian Shield.
Hinterland has so far only prospected the far north end of the uranium trend but has already obtained very encouraging values of up to 0.02% U(3)O(8). The best uranium values correspond to very strong chrome values that reach a maximum of 1.8%. Uranium does not correlate well with gold. The best gold values (up to a maximum of 7.5g/t) are coincident with a continuous string of magnetic highs that are found slightly east of and parallel to the uranium trend. It is well documented on Archean cratons elsewhere in the world that fuchsite-bearing quartzites and quartz pebble conglomerates similar to those found on the Hearne property are prospective for paleo-placer deposits of gold and/or uranium.
The analytical results stated above were determined at Activation Laboratories Ltd. ("Actlabs") in Ancaster, Ontario by Neutron Activation technique. Actlabs is an accredited laboratory independent of Hinterland. Uranium results reported by Actlabs in ppm U were converted by a conversion factor of 0.0001179 to % U(3)O(8). Mark Fekete, P.Geo is the designated "qualified person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the preparation of this release.
Investors are invited to visit the Hinterland IR Hub at www.agoracom.com/IR/Hinterland where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to HMI(at)agoracom.com where they can also request to be added to the investor e-mail list in order to receive all future press releases and updates in real time.
