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NWT confirms uranium occurrences at North Rae, Quebec
NWT confirms uranium occurrences at North Rae, Quebec.
About this update from Captor Capital Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Oct. 16 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is\npleased to announce initial assay results from rock grab samples collected in\nJuly 2007 during ground evaluation work at the North Rae Uranium Project in\nthe Ungava Bay region of northern Quebec, Canada. The results confirm uranium\nmineralization associated with previously identified high-priority radioactive\ntargets. NWT's exploration model focuses on high-tonnage, near-surface uranium\ntargets amenable to open-pit mining.\n\n\n"Our ongoing work at North Rae has confirmed the presence of uranium,\nproviding further evidence of the area's potential to host a new uranium\ndistrict," said Marek J. Kreczmer, President and CEO of NWT Uranium. "While\nour work to date has returned some high-grade uranium values of up to 0.64%\nU(3)O8 from rock grab samples, we are particularly encouraged by the fact that\na significant number of these results fall in the range of known deposits in\nNamibia. This same type of large, near-surface deposit with potential to be\nrecovered by low-cost bulk mining methods is exactly what we are targeting at\nNorth Rae."\n\n\nInitial Rock Sample Results\n\n\nAssay results from 234 widely spaced surface rock grab samples collected\nat the Tasialuk, Tasik, Jonas, Aqpiq, Ilaluga, 46, Rae-1 (Amittujaq) and\nTorrent zones and adjacent areas reveal values of up to 0.64% U(3)O8. Of these\n234 samples, a total of 78 returned values over 0.012% U(3)O8 (100 ppm\nuranium). All samples are widely spaced, which underscores the regional nature\nof the mineralized system.\n\n\nAt Tasialuk, 27 of 108 samples reveal uranium values over 0.012% U(3)O8,\nincluding a proximal boulder that returned a value of 0.192% U(3)O8 and a grab\nsample that returned 0.09% U(3)O8. The zone covers a total length of 2,624\nfeet (800 meters).\n\n\nAssay results from the Tasik zone reveal values of up to 0.151% U(3)O8.\nOf these 64 samples, a total of 17 returned values over 0.012% U(3)O8. The 17\nsamples cover a 2,624-foot (800-meter) area.\n\n\nAt Jonas, four of seven samples returned uranium values over 0.012%\nU(3)O8, including two samples that returned 0.64% and 0.27% U(3)O8\nrespectively. The four samples are distributed over a total length of 820 feet\n(250 meters). At Aqpiq, one of two grab samples returned a value of 0.113%\nU(3)O8....