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NWT Uranium continues drilling in Quebec, updates corporate activities
NWT Uranium continues drilling in Quebec, updates corporate activities.
About this update from Captor Capital Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Sept. 27 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is\npleased to provide an update and overview of recent corporate activities.\n\n\nQuebec Drilling Continues\n\n\nDrilling is ongoing at the North Rae uranium project in the Ungava Bay\nregion of northern Quebec, Canada. Seven holes totaling 1,696 feet\n(517 meters) have so far been completed.\n\n\nThe drill program at North Rae remains focused on determining the\npresence of potentially economic mineralization in recently identified\nradioactive targets. Drilling will continue until the onset of winter\nconditions in the Ungava Bay region, after which selected samples will be sent\nto the Saskatchewan Research Council for analysis. Results from a significant\nnumber of rock grab samples, which were collected during 2007 ground\nexploration, are also pending.\n\n\nNWT believes that North Rae has the geological potential to become\nCanada's newest uranium district. A total of seven radioactive zones have so\nfar been identified for follow-up work and grids have been completed on four\nof these areas. Values ranging from 1,000 to 100,000 counts per second (cps)\nwere registered in these areas of elevated radiometry, in sharp contrast with\nbackground values of approximately 120 cps.\n\n\nNiger Uranium Commences Trading\n\n\nNiger Uranium Ltd., the joint venture company formed by NWT Uranium and\nUraMin Inc. (which has since been acquired by Areva), is now trading on the\nAlternative Investment Market (AIM), which is a sub-market of the London Stock\nExchange. NWT Uranium is the largest shareholder in Niger Uranium. Niger\nUranium holds a total of eight highly prospective uranium concessions in the\nsame geological setting as producing Areva mines, which together yield\napproximately 7.5% of annual global uranium production.\n\n\nCFO Appointment\n\n\nMr. William (Bill) David Thomas has been elevated to the position of\nChief Financial Officer of NWT Uranium Corp. effective September 1, 2007. Mr.\nThomas joined NWT Uranium as Controller on July 16, 2007, as reported in a\npress release issued that same date.\n\n\nPicachos Property\n\n\nNWT continues to evaluate its 19,000-acre (7,700-hectare) Picachos\nsilver-gold project in Durango, Mexico. A Conceptual Study, independently\nprepared in 2005 by Watts, Griffis and McOuat Limited ("WGM"), conclud...