TORONTO, Nov. 19 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is pleased to announce additional assay results from rock grab samples collected during ground evaluation work at the North Rae Uranium Project under option from Azimut Exploration Inc. in the Ungava Bay region of Quebec, Canada. Results provide further support for NWT's exploration model, which focuses on a large, near-surface uranium deposit that has the potential to be recovered using low-cost bulk mining methods.
"This latest set of results adds important value to our understanding of the widespread uranium mineralization at North Rae and underscores the area's potential to host Canada's newest uranium district," said Marek J. Kreczmer, President and CEO of NWT Uranium. "We are extremely pleased to see that our Quebec rock sample results continue to fall in the range of known uranium deposits in Namibia. At North Rae, we are targeting this same type of high-tonnage, near-surface uranium deposit, which has the potential to be recovered through open-pit mining."
Results
Assay results from 334 widely spaced surface rock grab samples collected at the Jonas, Aqpiq, Rae-1 (Amittujaq), 46, Tasik, Tasialuk, Ilaluga and Torrent zones as well as adjacent areas reveal values of up to 3.3% U(3)O(8). Of these 334 samples, a total of 233 returned values over 0.01% U(3)O(8), including 116 with values over 0.05% U(3)O(8) and 66 samples with values over 0.1% U(3)O(8). Samples are widely spaced, which underscores the regional nature of the mineralized system underlying North Rae.
Assay results from the Jonas zone show 25 of 54 samples with values over 0.05% U(3)O(8), including one sample that returned 3.3% U(3)O(8) (28,000 ppm uranium). The 25 samples were collected from an area measuring 2,296 x 721 feet (700 x 220 meters).
At Aqpiq, 43 of 48 samples reveal uranium values over 0.05% U(3)O(8), including three samples that returned 1.74%, 1.20% and 1.07% U(3)O(8) respectively. The three samples that returned values over 1.0% U(3)O(8) were collected from two different areas located 984 feet (300 meters) apart. The zone at Aqpiq extends over a 3,280 x 984 foot (1,000 meter x 300 meter) area.
At Amittujaq, 8 of 11 samples returned uranium values over 0.05% U(3)O(8). The eight samples are distributed over a length of 11,500 feet (3,505 meters).
All 12 samples collected at Zone 46 revealed uranium values over 0.02% U(3)O(8). Zone 46 contains a radioactive area measuring 200 meters by 1,000 meters. The sample zone covers a total length of 720 feet (220 meters).
At Tasik, 14 of 16 samples returned uranium values over 0.02% U(3)O(8). The 14 samples are distributed over a length of 2,460 feet (750 meters).
Assay results from the Tasialuk zone show 17 of 28 samples with uranium values over 0.02% U(3)O(8). The 17 samples cover a 1,300-foot (396-meter) area.
At Ilaluga, 23 of 43 samples returned uranium values over 0.02% U(3)O(8). The 23 samples cover a total length of 3740 feet (1,140 meters).
Samples from the Torrent zone were also evaluated, with 17 of 73 samples returning values above 0.02% U(3)O(8). The 17 samples are distributed over a total length of 3,280 feet (1,000 meters).
Uranium values in all eight zones are related to pegmatic dykes as individual dykes or dyke swarms in contact with gneissic rocks (sulphide-bearing paragneiss, granitic gneiss). The dykes are sub-horizontal or sub-vertical to steeply dipping. A map showing the location of the eight zones will be made available on the NWT Uranium web site at www.nwturanium.com.
The table below provides details of samples that returned values above 0.1% U(3)O(8).
----------------------------------- SAMPLE URANIUM U3O8 U3O8 ID ppm ppm % ----------------------------------- 5929462 28000 33012 3.30 ----------------------------------- 5929590 14800 17449 1.74 ----------------------------------- 5929133 10200 12026 1.20 ----------------------------------- 5929653 9100 10729 1.07 ----------------------------------- 5929652 5600 6602 0.66 ----------------------------------- 5929105 5560 6555 0.66 ----------------------------------- 5929488 4960 5848 0.58 ----------------------------------- 6399098 4930 5812 0.58 ----------------------------------- 5929475 4670 5506 0.55 ----------------------------------- 5929484 4430 5223 0.52 ----------------------------------- 5929516 4400 5188 0.52 ----------------------------------- 5929138 4070 4799 0.48 ----------------------------------- 5929655 3770 4445 0.44 ----------------------------------- 5929474 3650 4303 0.43 ----------------------------------- 5929379 3500 4127 0.41 ----------------------------------- 5929583 3500 4127 0.41 ----------------------------------- 5929134 3500 4127 0.41 ----------------------------------- 5929507 3480 4103 0.41 ----------------------------------- 5929651 3150 3714 0.37 ----------------------------------- 5929136 2890 3407 0.34 ----------------------------------- 5929481 2630 3101 0.31 ----------------------------------- 5929292 2510 2959 0.30 ----------------------------------- 5929463 2320 2735 0.27 ----------------------------------- 5929597 2160 2547 0.25 ----------------------------------- 5929670 2140 2523 0.25 ----------------------------------- 5929454 2040 2405 0.24 ----------------------------------- 5929599 2040 2405 0.24 ----------------------------------- 5929298 2010 2370 0.24 ----------------------------------- 5929476 1950 2299 0.23 ----------------------------------- 5929135 1940 2287 0.23 ----------------------------------- 5929588 1890 2228 0.22 ----------------------------------- 5929607 1880 2217 0.22 ----------------------------------- 5929545 1660 1957 0.20 ----------------------------------- 5929269 1630 1922 0.19 ----------------------------------- 5929465 1630 1922 0.19 ----------------------------------- 5929209 1630 1922 0.19 ----------------------------------- 5929657 1570 1851 0.19 ----------------------------------- 5929482 1530 1804 0.18 ----------------------------------- 5929669 1520 1792 0.18 ----------------------------------- 5929610 1440 1698 0.17 ----------------------------------- 5929707 1360 1603 0.16 ----------------------------------- 5929615 1310 1544 0.15 ----------------------------------- 5929656 1310 1544 0.15 ----------------------------------- 5929594 1300 1533 0.15 ----------------------------------- 5929582 1270 1497 0.15 ----------------------------------- 5929705 1210 1427 0.14 ----------------------------------- 5929478 1190 1403 0.14 ----------------------------------- 5929390 1190 1403 0.14 ----------------------------------- 5929271 1140 1344 0.13 ----------------------------------- 5929592 1140 1344 0.13 ----------------------------------- 5929497 1070 1262 0.13 ----------------------------------- 5929439 1040 1226 0.12 ----------------------------------- 5929485 1020 1203 0.12 ----------------------------------- 312315 1020 1203 0.12 ----------------------------------- 5929339 996 1174 0.12 ----------------------------------- 5929472 994 1172 0.12 ----------------------------------- 5929295 958 1129 0.11 ----------------------------------- 5929483 944 1113 0.11 ----------------------------------- 5929150 939 1107 0.11 ----------------------------------- 5929506 933 1100 0.11 ----------------------------------- 5929589 917 1081 0.11 ----------------------------------- 5929336 899 1060 0.11 ----------------------------------- 5929109 895 1055 0.11 ----------------------------------- 5929587 891 1050 0.11 ----------------------------------- 5929609 888 1047 0.10 ----------------------------------- 5929591 870 1026 0.10 -----------------------------------
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. A total of 49 samples were collected in areas adjacent to the zones listed above.
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.
Initial assay results were detailed in a press release dated October 16, 2007, which is available at www.nwturanium.com.
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.
Samples were collected at surface or near surface after small blasting using the Boulder Buster technique (29 sites, 52 samples, average sampling depth of 30cm).
ABOUT NWT URANIUM:
NWT Uranium Corp. (www.nwturanium.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. Bertrand Taquet, P.Geo, NWT Uranium's Senior Geologist, who is a Qualified Person (QP) as defined by National Instrument 43-101, is responsible for the current exploration program at North Rae and has supervised the preparation of this press release and verified the data reported above.
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.