Athabasca Nuclear Corporation Reports Continued Radioactivity at Swoosh
06 Mayo 2014 - 7:00AM
Marketwired
Athabasca Nuclear Corporation Reports Continued Radioactivity at
Swoosh
CALGARY, ALBERTA--(Marketwired - May 6, 2014) - Athabasca
Nuclear Corporation (TSX-VENTURE:ASC) ("Athabasca Nuclear" or the
"Corporation") is pleased to provide an update on drilling efforts
at its Preston Uranium Property (the "Property") in the southwest
Athabasca Basin, which is being advanced by the Western Athabasca
Syndicate (the "Syndicate") of which Athabasca Nuclear is the
Operator (the "Operator").
The first phase of the drill program has drilled seven holes
totaling 1,571 meters at the Swoosh target.
As previously announced, Athabasca Nuclear and its' partners
intend to recommence drilling later this month with the purpose of
completing at least one initial exploration drill hole at each of
the CHA and Fin targets.
Update on the Swoosh
Target
The Swoosh target is a six-kilometer long corridor consisting of
geophysically anomalous areas as defined by gravity, magnetic and
EM surveys, coincident with surficial geochemical anomalies.
The most recently completed hole, PN14007, intersected twelve
zones of radioactivity, as defined by a downhole gamma probe,
including a 0.75 meter zone measuring 1,432 counts per second (cps)
in a background of 80 to 100 cps. PN14007 was part of a previously
announced extended drill program to further test the discovery of
radioactivity at PN14003, as detailed by news release dated April
15, 2014.
The downhole depth of the six completed drill holes at Swoosh
was between 200 and 350 meters. As previously detailed, one
additional drill hole was abandoned due to poor drilling
conditions.
Swoosh Drill
Target Map:
http://www.athabascanuclear.com/wp-content/uploads/2014/03/ASC_Swoosh_Drill_Target_Map_with_RadonEx_Faults.pdf
All seven of the holes intersected a broad, hydrothermally
altered and reactivated, structural zone. Five of the seven holes,
inclusive of PN14003 and PN14007, returned elevated radioactivity
and intersected multiple graphitic units within sheared and altered
basement lithologies. The alteration commonly consists of pervasive
chlorite, hematite and clay development; features which are common
to uranium mineralization in the Athabasca Basin.
A review of final assays and geochemistry will be carried out
upon receipt of results, which is expected in early June.
Additional field work and drilling is anticipated at the Swoosh
target later in 2014.
Update on the CHA and
Fin Targets
As previously announced, Athabasca Nuclear intends to recommence
drilling later this month with the purpose of completing an initial
exploration drill hole at each of the CHA and Fin targets.
The CHA and Fin targets represent the second and third drill
targets to be tested on the Property and were selected out of
fifteen prospective targets by the Syndicate's Technical based on
encouraging fieldwork results and coincident anomalies from ground
gravity, airborne and ground EM and magnetic (graphitic conductors
and structures), radon, soil, biogeochem, lake sediment,
prospecting and geological mapping surveys.
Technical Information:
All holes were angled holes, drilled at -45 to -50 degrees.
They were radiometrically surveyed using a RS-230 gamma-ray
spectrometer, and a Mount Sopris 2PGA-1000 downhole natural gamma
probe. Natural gamma radiation in drill core reported in this news
release was measured in counts per second (cps). All intersections
are downhole and core interval measurements and true thicknesses
are yet to be determined. The reader is cautioned that a total
counts gamma probe reading is the result of natural gamma radiation
that may come from various sources including cosmic radiation,
thorium, potassium and uranium and its radioactive decay products.
CPS values cannot be certain to correlate with uranium grades of
the rock but are a general guide of the radioactivity of minerals
present in rock placed in proximity to the instrument.
Management cautions that mineralization present on proximal
properties is not necessarily indicative of mineralization on the
Syndicate's Property.
Qualified Person:
Athabasca Nuclear Director, Charles C. (Chuck) Downie, P.Geo.,
is the Qualified Person as defined by National Instrument 43-101
and has approved the technical information in this release.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation (TSX-VENTURE:ASC) is an energy
exploration company based in Calgary, Alberta which is focused on
uranium exploration in the Athabasca Basin of Saskatchewan, Canada.
The Corporation is the Operator of the Western Athabasca Syndicate,
a syndicated-exploration effort of a 287,130 hectare (709,513 acre)
package of uranium properties which is the largest land position
controlled by a single group along the highly prospective margin of
the Western Athabasca Basin.
Signed,
Ryan Kalt, Chief Executive Officer
Forward-Looking
Statements
This news release contains forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently expected or forecast in
such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Athabasca Nuclear CorporationRyan Kalt, LL.M., M.B.A.Chairman
and Chief Executive
Officer403-470-3265ryan.kalt@athabascanuclear.comwww.AthabascaNuclear.com
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