TORONTO, Oct. 16 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is pleased to announce initial assay results from rock grab samples collected in July 2007 during ground evaluation work at the North Rae Uranium Project in the Ungava Bay region of northern Quebec, Canada. The results confirm uranium mineralization associated with previously identified high-priority radioactive targets. NWT's exploration model focuses on high-tonnage, near-surface uranium targets amenable to open-pit mining.
"Our ongoing work at North Rae has confirmed the presence of uranium, providing further evidence of the area's potential to host a new uranium district," said Marek J. Kreczmer, President and CEO of NWT Uranium. "While our work to date has returned some high-grade uranium values of up to 0.64% U(3)O8 from rock grab samples, we are particularly encouraged by the fact that a significant number of these results fall in the range of known deposits in Namibia. This same type of large, near-surface deposit with potential to be recovered by low-cost bulk mining methods is exactly what we are targeting at North Rae."
Initial Rock Sample Results
Assay results from 234 widely spaced surface rock grab samples collected at the Tasialuk, Tasik, Jonas, Aqpiq, Ilaluga, 46, Rae-1 (Amittujaq) and Torrent zones and adjacent areas reveal values of up to 0.64% U(3)O8. Of these 234 samples, a total of 78 returned values over 0.012% U(3)O8 (100 ppm uranium). All samples are widely spaced, which underscores the regional nature of the mineralized system.
At Tasialuk, 27 of 108 samples reveal uranium values over 0.012% U(3)O8, including a proximal boulder that returned a value of 0.192% U(3)O8 and a grab sample that returned 0.09% U(3)O8. The zone covers a total length of 2,624 feet (800 meters).
Assay results from the Tasik zone reveal values of up to 0.151% U(3)O8. Of these 64 samples, a total of 17 returned values over 0.012% U(3)O8. The 17 samples cover a 2,624-foot (800-meter) area.
At Jonas, four of seven samples returned uranium values over 0.012% U(3)O8, including two samples that returned 0.64% and 0.27% U(3)O8 respectively. The four samples are distributed over a total length of 820 feet (250 meters). At Aqpiq, one of two grab samples returned a value of 0.113% U(3)O8.
Samples from the Ilaluga zone were also evaluated, with seven of 16 samples returning values above 0.012% U(3)O8, including one sample that returned 0.035% U(3)O8. The seven samples are distributed over a total length of 4,068 feet (1,240 meters). At zone 46, one of two grab samples returned a value of 0.05% U(3)O8.
Ten of 11 samples from the Rae-1 (Amittujaq) zone recorded values over 0.012% U(3)O8, with four samples returning 0.218%, 0.195%, 0.094% and 0.093% U(3)O8 respectively. The 10 samples cover a total length of 7,873 feet (2,400 meters).
At Torrent, 10 of 18 samples returned uranium values above 0.012% U(3)O8, including one sample that returned 0.1% U(3)O8. The 10 samples are distributed over a total length of 2,700 feet (822 meters).
In these eight zones, uranium values are related to pegmatitic dykes as individual dykes or dyke swarms in contact with gneissic rocks (sulphide-bearing paragneiss, granitic gneiss). The dykes are sub-horizontal and sub-vertical to steeply dipping. Yellow minerals, likely resulting from the superficial alteration of primary uranium-bearing minerals, have been observed on four of these zones. A map showing the location of the eight zones will be made available on the NWT Uranium web site at www.northwestmineral.com.
The table below provides details of samples that returned values above 0.018% U(3)O8 (150 ppm uranium).
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SAMPLE URANIUM U3O8 U3O8
ID ppm ppm %
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592-9437 5410 6378 0.638
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592-9438 2290 2700 0.270
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592-9224 1850 2181 0.218
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592-9223 1650 1945 0.195
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592-9303 1630 1922 0.192
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592-9026 1280 1509 0.151
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592-9102 958 1129 0.113
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592-9426 896 1056 0.106
-----------------------------------
592-9120 796 938 0.094
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592-9412 791 933 0.093
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592-9110 745 878 0.088
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592-9101 726 856 0.086
-----------------------------------
592-9420 672 792 0.079
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592-9363 662 780 0.078
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592-9221 620 731 0.073
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592-9051 560 660 0.066
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592-9222 502 592 0.059
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592-9353 478 564 0.056
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592-9119 462 545 0.054
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592-9089 444 523 0.052
-----------------------------------
592-9427 434 512 0.051
-----------------------------------
592-9350 426 502 0.050
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592-9430 380 448 0.045
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592-9028 377 444 0.044
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592-9007 305 360 0.036
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592-9153 301 355 0.035
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592-9368 299 353 0.035
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592-9429 287 338 0.034
-----------------------------------
592-9568 278 328 0.033
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592-9094 249 294 0.029
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592-9431 247 291 0.029
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592-9413 241 284 0.028
-----------------------------------
592-9400 238 281 0.028
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592-9048 231 272 0.027
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592-9208 223 263 0.026
-----------------------------------
592-9004 221 261 0.026
-----------------------------------
592-9367 220 259 0.026
-----------------------------------
592-9100 216 255 0.025
-----------------------------------
592-9300 211 249 0.025
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592-9528 207 244 0.024
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592-9112 195 230 0.023
-----------------------------------
592-9311 195 230 0.023
-----------------------------------
592-9040 194 229 0.023
-----------------------------------
592-9111 190 224 0.022
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592-9019 187 220 0.022
-----------------------------------
592-9411 178 210 0.021
-----------------------------------
592-9158 176 208 0.021
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592-9044 173 204 0.020
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592-9324 170 200 0.020
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592-9047 169 199 0.020
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592-9366 169 199 0.020
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592-9570 164 193 0.019
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592-9053 157 185 0.019
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592-9081 154 182 0.018
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592-9045 153 180 0.018
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592-9090 150 177 0.018
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592-9118 150 177 0.018
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592-9325 150 177 0.018
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Additional rock sample results from the 2007 ground exploration program will be announced as they are received and compiled.
Some of the assays returned were below the detection limits of the analytical techniques used to analyze samples. Six samples were collected in areas adjacent to the zones listed above.
In total, eight NQ diamond drill holes covering 1,843 feet (562 meters) were completed before the early onset of winter conditions in the Ungava Bay region. The program was concluded for the season in the first week of October, more than one month earlier than NWT had originally scheduled, because of adverse weather conditions. It is also unsafe for NWT's helicopter pilots to fly in this weather, which makes it impossible to move the drill from location to location.
Sites tested in this initial phase of drilling include recently identified radioactive targets and other high-priority areas in three zones - Tasik, Tasialuk and Jonas. The aim of the program was to test uranium spectrometric anomalies, yellow alteration mineral occurrences and areas that have returned anomalous uranium values. Drilling was being conducted by Forage a Diamant Benoit Ltee of Val d'Or, Quebec.
NWT has the right to earn up to 65% ownership of North Rae from Azimut Exploration Inc., as announced in a press release dated March 6, 2006.
Quality Assurance
Grab samples from all zones, collected during 2007 ground evaluation, were submitted to Saskatchewan Research Council of Saskatoon for analysis using aqua regia partial digestion followed by ICP. Industry standard Quality Control/Quality Assurance protocols have been implemented, including insertion of certified reference material for drill core samples.
ABOUT NWT URANIUM:
NWT Uranium Corp. (www.northwestmineral.com) is an international resource exploration company with an experienced, highly technical management team. Since its inception, NWT has concentrated on the acquisition of properties with potential uranium targets. NWT Uranium is listed on the NASD Bulletin Board under the symbol "NWURF" and the TSX Venture Exchange under the symbol "NWT."
Mr. Rejean Girard, P.Geo., of IOS Services Geoscientifiques Inc. based in Chicoutimi, Quebec, who is a Qualified Person (QP) as defined in National Instrument 43-101, is responsible for the current exploration program at North Rae and has verified the data reported above. Mr. Girard is a consultant to NWT Uranium and has sufficient experience relevant to the style of mineralization and type of deposits under consideration and to the activity which he is undertaking to act as a Qualified Person for the purposes of the geological section of this press release. Mr. Girard has no interest in NWT Uranium and has consented to the inclusion in this press release of his name in the form and context in which it appears.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource on the North Rae Uranium Project and it is uncertain if further exploration will result in the target being delineated as a mineral resource.