Dejour stakes additional 32K hectares in Athabasca basin
2005-11-22 18:11 ET - News Release
Mr. Robert Hodgkinson reports
DEJOUR'S ATHABASCA BASIN URANIUM HOLDINGS APPROACHES 1.0 MILLION ACRES
Dejour Enterprises Ltd. has successfully staked eight strategic, 100-per-cent-owned uranium claims in Saskatchewan's Athabasca basin, adding 32,000 hectares (79,072 acres) to the company's holdings. These new claims are of material interest to the company and were targeted as a result of Dejour's successful MegaTEM II airborne electromagnetic survey over its R-Seven and Sand Hill Lake properties. Although all of the survey data have not yet been processed and interpreted, completed survey data revealed several previously unknown basement electromagnetic conductors extending beyond the boundaries of Dejour's properties on unstaked land. Basement conductors are most often caused by graphitic horizons with which uranium mineralization may be associated. Completed data have defined more than 250 kilometres (155 miles) of conductors.
On the R-Seven project one new claim was staked to cover an airborne anomaly, increasing this project to more than 54,500 hectares (134,669 plus acres). The R-Seven project covers a broad metasedimentary sequence of basement rocks in which the MegaTEM survey and earlier geophysical surveys have defined over 140 kilometres (87 miles) of basement electromagnetic conductors. Only eight drill holes testing one conductor were completed by previous operators on the property; one drill hole intersected very anomalous radioactivity at the unconformity.
On the Sand Hill Lake project, seven new claims were staked to cover a basement conductor defined by the MegaTEM survey, increasing the property size by 60 per cent to more than 74,300 hectares (183,595 plus acres). The Sand Hill Lake project adjoins the Cameco-FMC Virgin River property, where it was reported that three wedge holes and three pilot holes had been completed to test the extent of the uranium mineralization in hole VR-18, which intersected 5.83 per cent U3O8 over 6.4 metres. Dejour Enterprises plans exploration on both the R-Seven and Sand Hill Lake projects this winter as part of its previously announced $1.5-million exploration program. J. Allan McNutt, PGeo, MASc, is the qualified person on the project.
About the Athabasca basin
The Athabasca basin in Northern Saskatchewan, Canada, is the largest mineral production camp in North America. This area hosts the world's largest and highest-grade uranium deposits, accounting for one-third of the global uranium supply, a figure which is expected to increase significantly by the end of the decade. Exploration and uranium production in the basin have support from all levels of governments, institutions and organizations.
Dejour has the fifth largest mineral holdings in the basin.
Total claims: 68
Total permits: Four
Total hectares: 391,357
Total acres: 967,043
Dejour Enterprises Ltd
Symbol DJE.V
Shares Issued 26,595,106
Close 2005-11-22 C$ 0.97
