Business
NWT announces advancements with Niger Uranium properties
Results of surface rock-chip samples reveal U(3)O(8) grades up to 0.98% TORONTO, Feb. 14 /CNW/ - ...
About this update from Captor Capital Corp
[{"type":"text","content":"\n\n\n\nResults of surface rock-chip samples reveal U(3)O(8) grades up to 0.98%\n\n\nTORONTO, Feb. 14 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is\npleased to provide a further update for its shareholders regarding the\nactivities of Niger Uranium Limited, of which NWT is the largest shareholder\nwith a 38.5% ownership position.\n\n\nAs announced by Niger Uranium in a press release dated January 28, 2008,\nPhase 1 drilling and trenching has commenced at Irhazer and In Gall. Drilling\nis continuing and is scheduled to include 18 holes totaling 8,200 feet\n(2,500 meters) with completion scheduled for March 2008. To date, Niger\nUranium has completed 1,150 feet (352 meters) of tri-cone drilling and\nradiometric probing is underway.\n\n\nThe drilling target is a large, open-pittable resource, where a number of\nsurface grab samples and geological mapping indicate strike extensive\nstratiform mineralization that is exposed at the surface. Phase 2 drilling,\ncurrently expected to consist of 24,600 feet (7,500 meters), is scheduled to\ncommence in April.\n\n\nNiger Uranium also reported that groundwork on northerly, structurally\ncontrolled targets is underway at Irhazer and In Gall, while mapping, ground\nmagnetics and track-etch radon detection work is expected to commence in early\nFebruary. Surface rock-chip samples taken in 2007 and analyzed in January 2008\nfrom the targets range from 45 to 9,829 ppm (0.98% U(3)O(8)) and confirm the\nhighly prospective character of these targets. Results for all samples and a\nmap outlining grab samples are available on Niger Uranium's web site at\nwww.niger-uranium.com.\n\n\nIn addition, Niger Uranium received a significant dataset from Areva,\ncontaining large amounts of historic data on the license areas and surrounding\nareas. The company expects the data to assist with target generation and help\nfast-track the exploration program.\n\n\nNo drilling has yet commenced at the Kamas and Dabala license areas.\n\n\nFor further information on Niger Uranium's 2008 exploration program,\nplease visit the company's web site at www.niger-uranium.com, where the press\nrelease from January 29, 2008 can also be viewed.\n\n\nNWT contributed the Irhazer and In Gall properties to Niger Uranium, as\ndetailed in a press release dated July 26, 2007. The two properties have\nreturned uranium values ran...