Aldershot Resources Ltd.: More Uranium Intersections at the George Project
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VANCOUVER, BRITISH COLUMBIA, Jan 15 (MARKET WIRE) --
Aldershot Resources Ltd. ("Aldershot" and the "Company") (TSX VENTURE:
ALZ) is pleased to provide Mr Ian Faris', Aldershot's VP Exploration and
a Qualified Person, latest overview of the drilling results at the
Company's George Creek Project in the NT, Australia.
The 2007 diamond drilling program involved drilling at the abandoned
Adelaide River Mine (2 holes for 375m) and the George Creek Prospect (2
holes for 177m). The drilling tested the historic mineralization,
provided samples for assay and provide core for petrographic and
structural studies. Half core samples were assayed by ICP-MS following a
4 acid digest, at Northern Territory Environmental Laboratories (NTEL) in
Darwin, NT.
The George Project is located 100 kilometres south of Darwin and 40km
south of the Rum Jungle Uranium Field. As reported previously, the
Adelaide River Mine was mined until 1957 and then re-evaluated by the BMR
(Australian Government) in 1959-60. In 1960, Plumb reported reserves of
6,350 tonnes of ore averaging 0.32% U3O8. The George Prospect was
discovered in 1954 by the BMR and investigated during the period
1954-1960, and had a total of 120 tonnes of ore grading 0.26% U3O8
extracted (Arkin and Walpole, 1960). Private companies carried out
uranium exploration until the late 1970s. The above results are
historical estimates and do not comply with the Australian JORC or NI
#43-101 reporting requirements and they should not be interpreted as
such. The results can not be validated and are not considered by the
Company to be a current resource or reserve but rather to identify zones
of uranium mineralisation that were the target of the drilling
exploration programs.
Adelaide River Mine
ARDDH001 intersected minor uranium mineralization at centred at 93.75m
with associated pyrite and chalcopyrite and shearing with sericite
alteration observed at the end of the hole. Assays returned up to 70 ppm
U3O8 from 192-193m. The subsequent hole, ARDDH002, intersected 0.72%
(14.7 lbs/t) U3O8 over 4 metres (90.7-94.7m) including the following
intervals:
- 2.86% U3O8 over 0.8m (90.7 - 91.5m)
- 0.46% U3O8 over 0.6m (91.9 - 92.7m)
- 0.42% U3O8 over 0.4m (93.5 - 93.7m)
- 0.16% U3O8 over 0.6m (94.1 - 94.7m)
with associated Co (7.5%), Cu (1.9%) and Ni (4.4%).
George Creek Prospect
GCKDDH008 was abandoned at 32m when historic workings were intersected
but assays returned:
- 619 ppm U3O8 over 0.40m (25.33 - 25.73)
- 731 ppm U3O8 over 0.50m (31.58 - 32.08)
The subsequent hole GCKDDH009 intersected:
- 0.48% U3O8 over 1.0m (21.93 - 22.93) with anomalous Co, Ni, Cu, Pb, Zn
values.
Uranium mineralization at the George Project is vein type mineralization
associated with structures within the Burrell Creek Formation and
distinctive alteration. Mapping around the George Creek Prospect during
2007 has identified two zones of anomalous radioactivity (up to 1500 cps,
Saphymo SRAT SPP2 scintillometer) 400m north of the Prospect with a
second zone 250m north. These areas of anomalism, alteration and shearing
define a NNW trending structural target that will become the focus of
exploration around the George Creek Prospect in 2008.
About Aldershot Resources Ltd.
Aldershot Resources Ltd. is a junior uranium exploration company focused
on projects in Australia, Canada, Zambia and Chile. The Company's most
advanced projects are located in Australia where Aldershot is actively
drilling to confirm and expand historical resource estimates. The Company
is aggressively pursuing corporate growth through drilling and sampling
on all of its properties as well as through acquisition opportunities.
Aldershot is committed to become a dominant junior uranium exploration
and production company.
FOR AND ON BEHALF OF THE BOARD
ALDERSHOT RESOURCES LTD.
Jeremy Caddy, President and Director
This release has been prepared by management and no regulatory authority
has approved or disapproved the information contained herein. Information
in this report, insofar as it relates to resources' estimation and
exploration activities, is based on information compiled by Ian Faris who
is the Company's senior uranium geologist and who has more than ten years
experience in the field of the activity being reported on. This report
accurately reflects the information compiled by this Professional
Engineer.
Should you wish to receive Company news via email, please email
catarina@chfir.com and specify "Aldershot News" in the subject line.
Aldershot Resources, based in Vancouver, Canada, is a uranium exploration
company currently with projects in Northern Territory, Western Australia,
Quebec and Zambia. Shares of the Company are listed for trading on the
TSX Venture Exchange and there are 64,883,308 shares outstanding.
Cautionary Language and Forward Looking Statements
This press release may contain "forward-looking statements", which are
subject to various risks and uncertainties that could cause actual
results and future events to differ materially from those expressed or
implied by such statements. Investors are cautioned that such statements
are not guarantees of future performance and results. Risks and
uncertainties about the Company's business are more fully discussed in
the Company's disclosure documents filed from time to time with the
Canadian securities authorities.
TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of the contents of
this News Release.
Contacts:
Aldershot Resources Ltd.
Jeremy Caddy
President & Chief Executive Officer
(604) 682-6718
(604) 682-6722 (FAX)
Email: jcc4tlx@intergate.ca
Website: www.aldershotresources.com
CHF Investor Relations
Christopher Haldane
Associate Account Manager
(416) 868-1079 ext. 237
Email: chris@chfir.com
Copyright 2008, Market Wire, All rights reserved.
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