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News
06.07.2009
Xemplar Begins Exploration Drilling at Cape Cross Uranium Project in Namibia
Xemplar Begins Exploration Drilling at Cape Cross Uranium Project in Namibia
Vancouver, British Columbia, Canada, July 6, 2009 – The Board of Directors of Xemplar Energy Corp. (TSX-Venture: XE, Frankfurt: E7R, Namibia: XEM) (“Xemplar” or the “Company”) is pleased to report that the 2009 Drill Program has commenced on the Cape Cross Uranium Property in Namibia. The exploration program at Cape Cross is running in conjunction with the Company’s extensive drill program at its Warmbad Project.
Simon Tam, CEO, explains, “the 2009 Drill Program at Cape Cross will entail reconnaissance (i.e., exploration) reverse circulation drilling at high priority targets along a wide, 60 kilometre long paleochannel that we identified by the interpretation of an electromagnetic survey carried out for a water resource study. Coupled with historical work that has been conducted, radon analysis and some preliminary drilling that was completed in 2008, we feel that we have identified targets that are of high interest for uranium mineralization.”
Cape Cross Uranium Project – EPL 3569, 3570, 3571
Through its wholly owned Namibian subsidiary, Namura Mineral Resources (Pty) Ltd., the Company holds three Exclusive Prospecting Licenses (EPL) at Cape Cross covering an area of 2,773 km². Cape Cross is located in north-west Namibia near the Atlantic coast, some 20 kilometres inland from Henties Bay and within the country’s Uranium Corridor, where large uranium mines (Rossing, Langer Heinrich) and deposits (Trekkopje, Valencia, Rossing South, Idadome, Marenica, Tubas, Etango) are found.
The exploration target at Cape Cross is a mineralized palaeochannel containing uranium in the form of carnotite (i.e., secondary uranium mineralization associated with calcrete palaeochannels). The mineralization model would best be described as Langer Heinrich-type deposit. Langer Heinrich is a sedimentary uranium deposit located within the Namib-Naukluft Park and where Paladin Resources of Australia commenced production in March 2007. The mineralization model at Cape Cross is also similar to that of Areva’s (Uramin Inc.) Trekkopje Deposit, which is currently being developed into a mine.
Since acquiring the three EPLs for the Cape Cross area, Xemplar has completed a review of the historical exploration work carried out by General Mining and Finance Corporation, Goldfields of South Africa, Falconbridge, Rand Mines and Mynboukorporasie; conducted extensive radon gas surveys, interpreted geophysical surveys and carried out reconnaissance drilling at a limited number of targets.
Mike Magrum, P.Eng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
On behalf of the Board of Directors,
“Simon Tam”
Simon Tam
Chief Executive Officer and Director
Xemplar Energy Corp.
Disclaimer and Cautionary Statement Regarding Forward-Looking Information
Neither 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 press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
Xemplar Energy Corp. seeks safe harbor.
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Vancouver, British Columbia, Canada, July 6, 2009 – The Board of Directors of Xemplar Energy Corp. (TSX-Venture: XE, Frankfurt: E7R, Namibia: XEM) (“Xemplar” or the “Company”) is pleased to report that the 2009 Drill Program has commenced on the Cape Cross Uranium Property in Namibia. The exploration program at Cape Cross is running in conjunction with the Company’s extensive drill program at its Warmbad Project.
Simon Tam, CEO, explains, “the 2009 Drill Program at Cape Cross will entail reconnaissance (i.e., exploration) reverse circulation drilling at high priority targets along a wide, 60 kilometre long paleochannel that we identified by the interpretation of an electromagnetic survey carried out for a water resource study. Coupled with historical work that has been conducted, radon analysis and some preliminary drilling that was completed in 2008, we feel that we have identified targets that are of high interest for uranium mineralization.”
Cape Cross Uranium Project – EPL 3569, 3570, 3571
Through its wholly owned Namibian subsidiary, Namura Mineral Resources (Pty) Ltd., the Company holds three Exclusive Prospecting Licenses (EPL) at Cape Cross covering an area of 2,773 km². Cape Cross is located in north-west Namibia near the Atlantic coast, some 20 kilometres inland from Henties Bay and within the country’s Uranium Corridor, where large uranium mines (Rossing, Langer Heinrich) and deposits (Trekkopje, Valencia, Rossing South, Idadome, Marenica, Tubas, Etango) are found.
The exploration target at Cape Cross is a mineralized palaeochannel containing uranium in the form of carnotite (i.e., secondary uranium mineralization associated with calcrete palaeochannels). The mineralization model would best be described as Langer Heinrich-type deposit. Langer Heinrich is a sedimentary uranium deposit located within the Namib-Naukluft Park and where Paladin Resources of Australia commenced production in March 2007. The mineralization model at Cape Cross is also similar to that of Areva’s (Uramin Inc.) Trekkopje Deposit, which is currently being developed into a mine.
Since acquiring the three EPLs for the Cape Cross area, Xemplar has completed a review of the historical exploration work carried out by General Mining and Finance Corporation, Goldfields of South Africa, Falconbridge, Rand Mines and Mynboukorporasie; conducted extensive radon gas surveys, interpreted geophysical surveys and carried out reconnaissance drilling at a limited number of targets.
Mike Magrum, P.Eng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
On behalf of the Board of Directors,
“Simon Tam”
Simon Tam
Chief Executive Officer and Director
Xemplar Energy Corp.
Disclaimer and Cautionary Statement Regarding Forward-Looking Information
Neither 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 press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
Xemplar Energy Corp. seeks safe harbor.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA9840071042
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.