Xemplar Reports on Drill Results from Warmbad Project
Xemplar Reports on Drill Results from Warmbad Project
Vancouver, British Columbia, Canada, November 11, 2008 – The Board of Directors of Xemplar Energy Corp. (TSX-Venture: XE, Frankfurt: E7R, Namibia: XEM) (“Xemplar” or the “Company”) is pleased to provide further drill hole assay results from its Warmbad uranium exploration project in Namibia.
These results, coupled with previously announced drill results, have outlined five mineralized zones at Aluriesfontein and Big Yellow (East, West and Centre). As at Rossing, the Namibian uranium mine which produced 3,046 tonnes of uranium oxide in 2007, the alaskites at the Company’s Warmbad project are relatively thin-sheeted leucogranites (i.e., light colored granite rocks) which were layered within the country rocks. The geological groundwork and the drilling continue to confirm the widespread uranium mineralization on the property.
Highlights of the significant drill results (chemical assay U3O8) include the following:
Big Yellow West, Hole RCBYW0006:
• 44 metres grading 0.018% U3O8, from 23 metres to 67 metres, including 5 metres at 0.036% (from 25 metres to 30 metres); 4 metres at 0.032% (from 36 metres to 40 metres).
• Included within this hole are one metre intervals with grades of 0.082% (26 metres to 27 metres); 0.054% (37 metres to 38 metres); two metre interval with grades of 0.04% (45 metres to 47 metres).
Big Yellow West, Hole RCBYW0007:
• 1 metre near the surface from 4 metres to 5 metres, U3O8 grading 0.05%.
• 36 metres grading 0.018% U3O8, from 28 metres to 64 metres, including 6 metres at 0.027% (from 29 metres to 35 metres); 10 metres at 0.021% (from 39 metres to 49 metres); 4 metres at 0.021% (from 51 metres to 55 metres).
Big Yellow West, Hole RCBYW0001:
• 10 metres grading 0.015% U3O8, from 37 metres to 47 metres grading 0.015% from 37 metres to 47 metres, including 2 metres at 0.028% (from 39 metres to 41 metres).
• 6 metres grading 0.022% from 113 metres to 119 metres, including 1 metre at 0.023% (113 metres to 114 metres), 3 metres at 0.029% (116 metres to 119 metres).
• 3 metres at 0.028% U3O8, from 124 metres to 127 metres, including 2 metres at 0.032% (125 metres to 127 metres).
Big Yellow West, Hole RCBYW0002:
• 14 metres at 0.010% U3O8, from 21 metres to 35 metres.
Big Yellow West, Hole RCBYW0004:
• 7 metres at 0.018% U3O8, from 28 metres to 35 metres, including 3 metres at 0.026% (from 32 metres to 35 metres).
Big Yellow East, Hole RCBYE0024
• 21 metres at 0.012% U3O8, from 39 metres to 60 metres.
Big Yellow East, Hole RCBYE0026
• 10 metres at 0.014% U3O8, from 116 metres to 126 metres.
Big Yellow East, Hole RCBYE0044
• 6 metres at 0.015% U3O8, from 29 metres to 35 metres, including 1 metre at 0.027% (from 33 metres to 34 metres).
Big Yellow East, Hole RCBYE0048
• 19 metres at 0.015% U3O8, from 42 metres to 61 metres, including 1 metre at 0.026% (44 metres to 45 metres); 1 metre at 0.023% (49 metres to 50 metres); 1 metres at 0.025% (from 55 metres to 56 metres).
Aluriesfontein, Hole RCALU0036
• 6 metres at 0.012% U3O8, from 13 metres to 19 metres.
• 3 metres at 0.014% U3O8, from 30 metres to 33 metres.
Aluriesfontein, Hole RCALU0037
• 13 meters at 0.013% U3O8, from 73 metres to 86 metres, including 2 metres at 0.019% (79 metres to 81 metres).
• 20 metres at 0.015% U3O8, from 170 metres to 190 metres, including 5 metres at 0.024% (176 metres to 181 metres).
• 4 metres at 0.020% U3O8, from 197 metres to 201 metres, including 2 metres at 0.027% (199 metres to 201 metres).
Aluriesfontein, Hole RCALU0040
• 5 metres at 0.018% U3O8, from 8 metres to 13 metres, including 3 metres at 0.025% (8 metres to 11 metres).
• 55 metres at 0.011% U3O8, from 111 metres to 166 metres, including 4 metres at 0.018% (117 metres to 121 metres); 3 metres at 0.021% (145 metres to 148 metres); 3 metres at 0.022% (163 metres to 166 metres).
Big Yellow Centre, Hole RCBY0013
• 7 metres at 0.022% U3O8, from 55 metres to 62 metres, including 2 metres at 0.023% (57 metres to 59 metres); 1 metre at 0.081% (61 metres to 62 metres).
• 4 metres at 0.019% U3O8, from 68 metres to 72 metres, including 2 metres at 0.026% (68 metres to 70 metres).
Big Yellow Centre, Hole RCBY0014
• 34 metres at 0.012% U3O8, from 2 metres to 36 metres, including 1 metre at 0.022% (12 metres to 13 metres), 4 metres at 0.019% (24 metres to 28 metres).
Big Yellow Centre, Hole RCBY0019
• 5 metres at 0.012% U3O8 from 7 metres to 12 metres.
• 4 metres at 0.018% U3O8 from 38 metres to 42 metres.
• 2 metres at 0.018% U3O8 from 142 metres to 144 metres.
Big Yellow Centre, Hole RCBY0020
• 8 metres at 0.017% U3O8 from 9 metres to 17 metres, including 1 metre at 0.027% (11 metres to 12 metres); 2 metres at 0.024% (14 metres to 16 metres).
• 5 metres at 0.024% U3O8 from 131 metres to 136 metres, including 2 metres at 0.039% (134 metres to 136 metres).
Big Yellow Centre, Hole RCBY0023
• 5 metres at 0.014% U3O8 from 20 metres to 25 metres.
• 8 metres at 0.020% U3O8 from 122 metres to 130 metres, including 1 metre at 0.074% (124 metres to 125 metres).
Please refer to the Appendix of this news release for a summary of all assay results > than 100 parts per million, or 0.010% U3O8 over one meter.
The Company continues to aggressively conduct its first phase of exploration drilling and evaluation of all of the alaskitic bodies on the Warmbad project and is on target to complete 40,000 metres of drilling at Warmbad by year end.
About Xemplar Energy Corp.
Xemplar Energy Corp. is a Canadian-based junior resource company focused on uranium exploration in Namibia. The Company holds a 100% rights to uranium properties in the Engo Valley, Cape Cross, Aus-Garub and Warmbad regions through its wholly owned subsidiary Windhoek, Namibia-based Namura Mineral Resources Pty. The Company currently holds Exploration Prospecting Licenses (EPL) for its Cape Cross, Aus, Garub and Warmbad properties totaling 7,382 square kilometers and is waiting to be awarded EPLs for its Engo Valley property. With the current EPLs that it holds, it is the largest uranium exploration license holder in Namibia. Upon being awarded the outstanding EPL for Engo Valley, the Company will possess a land package covering nearly 8,500 KM², further strengthening the Company’s dominant land position.
The primary focus of Xemplar Energy’s work in Namibia is the Warmbad project, where the Company has been actively engaged in an exploration drilling program in a province where the potential of a significant uranium occurrence is being developed. The company had originally identified 14 large, anomalously radiometric alaskitic bodies, which has since been redefined as five larger bodies as some of the original alakite bodies overlap each other. Of these, the Aluriesfontein is the largest, covering 36 square kilometres. Alaskitic rocks also host the Rossing mine in Namibia, which produced 3,046 tonnes of uranium oxide in 2007.
With $17.0 million (CDN) cash on hand, the Company is in a strong financial position to execute its exploration programs for the next 24 months.
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,
Xemplar Energy Corp.
Simon Tam, CEO and Director
XEMPLAR ENERGY CORP.
595 Howe St., Suite 306
Canada V6C 2T5
Please find the results under the following link: http://www.irw-press.com/dokumente/Appendix_Xemplar13-11-08ENG.pdf
Appendix 2 - Interpretation of Chemical Assay Results
All samples were analyzed for U3O8 at Set Point Laboratories in Isando, South Africa. The reader is cautioned to view chemical assay results as a collective set of data (please refer to past news releases for other drill results), and not to draw conclusions based on the results presented in each news release independent of each other.
The objective of the first phase of drilling, which the Company is currently undertaking, is to outline mineralized bodies at the Warmbad project. Given the vast size of the Warmbad project, this phase of drilling will continue beyond the initial 40,000 metres that was targeted for completion in 2008. As the Company outlines mineralized bodies, in-fill drilling will take place (on the outlined mineralized bodies) in conjunction with the first phase of drilling at other alaskite bodies at the Warmbad project.
Though the exploration program at the Warmbad project is in the early stages, the cumulative results of the first phase of the ongoing drill program are encouraging. The results show mineralization to depth and are allowing the Company to define outlines of the mineralized bodies. These early-stage drilling results show that relatively thin sheets of alaskite with uranium mineralization are present in a setting similar to the Rossing uranium mine in Namibia, that produced 3,046 tonnes of uranium oxide in 2007.
The Company utilizes a cut off point of 100 parts per million (or 0.01%) U3O8 for its public reporting; so in some cases, there are intervals that show mineralization that are not reported. The data that is not reported is of tremendous value to the Company as it is utilized to assist in outlining the mineralized bodies and will aid in developing resource estimates of the mineralized bodies.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS
Cautionary Statement Regarding Forward-Looking Information
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.
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