Pitchstone Receives Marble Ridge Uranium Analyses
March 30 2011 - 4:43PM
Marketwired
Pitchstone Exploration Ltd. (TSX VENTURE: PXP) ("Pitchstone")
announces that analytical results have been received from a
recently completed reverse circulation drilling program at the
Marble Ridge zone. Marble Ridge is a zone of calcrete-hosted
uranium mineralization on the Dome property in Namibia. The
property location relative to the nearby Rossing and Langer
Heinrich uranium mines, and other uranium occurrences in the Erongo
region, is illustrated on Pitchstone's website
(www.pitchstone.net).
Twenty eight drill holes were completed in the February 2011
program to follow up on results from drilling in 2010 that
intersected a horizontal, near surface layer of uranium and
vanadium mineralization in calcrete (see February 28, 2011 news
release).
Twelve of the recently completed drill holes were mineralized,
bringing the total number of mineralized intersections to date at
Marble Ridge to 20. The table below lists all of the mineralized
intervals, including those drilled prior to February, 2011.
-----------------------------------------------------------------
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Hole-ID From (m) To (m) Length (m) U3O8(ppm) V2O5(ppm)
-----------------------------------------------------------------
DN09-21(i) 0.0 4.0 4.0 92 101
DN09-23(i) 6.0 8.0 2.0 298 134
DN10-54(i) 6.0 8.0 2.0 73 69
DN10-55(i) 8.0 10.5 2.5 43 59
DN10-56(i) 7.0 8.0 1.0 365 205
DN10-57(i) 9.0 10.0 1.0 86 98
DN10-58(i) 10.0 12.0 2.0 120 136
DN10-64(i) 13.0 14.0 1.0 187 129
DN11-79 7.0 9.0 2.0 143 148
DN11-82 9.0 10.0 1.0 199 139
DN11-83 9.0 11.0 2.0 26 61
DN11-84 8.0 10.0 2.0 56 88
DN11-85 9.0 11.0 2.0 109 82
DN11-86 7.0 9.0 2.0 72 59
DN11-88 7.0 9.0 2.0 138 84
DN11-89 7.0 8.0 1.0 109 107
DN11-92 12.0 13.0 1.0 145 107
DN11-93 14.0 15.0 1.0 73 121
DN11-98 4.0 7.0 3.0 219 167
DN11-99 7.0 9.0 2.0 51 407
-----------------------------------------------------------------
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(i) Drilled Prior to the February 2011 Drilling Program and Reported
Previously
These results confirm that uranium and vanadium mineralization
at Marble Ridge occurs within a calcrete paleochannel that is now
estimated to be at least 1,900 meters long and 200 meters wide. The
mineralization is open along strike. Pitchstone is also encouraged
by the potential to find additional mineralized paleochannels
within the 500 square kilometer Dome North area. More drilling at
Marble Ridge and at other uranium targets at Dome North is
planned.
Steve Blower, P.Geo., President and CEO of Pitchstone, is the
Qualified Person for the purposes of NI 43-101 with respect to the
technical information in this news release. Sample preparation and
analyses were completed by Bureau Veritas in Swakopmund, Namibia. A
multi-element ICP-MS/AES analysis was completed on the samples
after a mixed acid, near-total digestion. Pitchstone utilizes
internally and externally submitted standard reference materials
for quality assurance and quality control of the sample preparation
and analyses. Dome is part of a uranium exploration joint venture
between Pitchstone (69%) and private company Manica Minerals Ltd.
(31%) through Manica's wholly-owned subsidiary Cheetah Minerals
Exploration Ltd. Pitchstone's exploration programs in Namibia are
carried out by Cape Town based Remote Exploration Services on
behalf of the joint venture.
About Pitchstone
Pitchstone is exploring for uranium in three proven districts in
Canada and Namibia. The property portfolio features 11 projects in
the eastern Athabasca Basin, Saskatchewan, three of which are 100%
owned. In addition, there is a joint venture on two projects in
Namibia and several joint venture projects in the Hornby Bay Basin,
Nunavut. Pitchstone benefits from the collaboration of a unique
group of geologists with extensive uranium exploration and
production experience.
On behalf of the Board,
Steven J. Blower, President and CEO
This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties
and are subject to factors, many of which are beyond Pitchstone's
control, that may cause actual results or performance to differ
materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Pitchstone Exploration Ltd. Claire Stewart 604 630
5563 Pitchstone Exploration Ltd. Mark T. Brown CFO 604 687 3520
www.pitchstone.net
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