Xemplar Provides Update on Namibian Uranium Exploration
November 08 2010 - 11:43AM
Marketwired Canada
Xemplar Energy Corp. (TSX VENTURE:XE)(FRANKFURT:E7R)(NAMIBIA:XEM) (the
"Company") would like to provide its shareholders with an update on its Namibian
uranium exploration program.
Cape Cross Uranium Project
The Cape Cross Project consist of three (3) adjoining EPL's (Exploration
Prospecting Licenses) which covers a combined area of 2,041 km2 and are situated
within the Uranium Corridor in Namibia. World class uranium mines such as
Rossing and Langer Heinrich are located within the Uranium Corridor, as well as
uranium deposits (Trekkopje, Valencia, Rossing South, Idadome, Marenica, Tubas
and Etango) which are being developed.
Within the boundaries of Xemplar's current property holdings, General Mining &
Finance Corporation Ltd, and Gold Fields Prospecting (Pty) Ltd. completed a
significant amount of trenching as well as a shallow (maximum 25 meters) surface
drilling program in the Mile 72 area during the 1970's to expose both pedogenic
and primary uranium mineralization. Regional and detailed surface radiometric
surveys discovered approximately eight (8) radiometric anomalies of which Mile
72 Area A and Mile 72 Area B were determined as most promising. In "Linning, K.
1973, Myl Sewe-Twee (Pty) Ltd. Prospecting Grant M 46/3/334, Annual Report 1972
Unpubl. Rep., General Mining and Finance Corporation Ltd.", a combination of two
ore bodies (Mile 72 Area A and Mile 72 Area B) was described as ore proven by
percussion drilling equalling approximately 200,000 tons grading 0.35
kilograms/ton U3O8. In "Roesener, H. and Schreuder, C.P. (1992). Uranium,
7.1-1-7.1-55. In: Geological Survey of Namibia. (1992). The Mineral Resources of
Namibia., 1.1-1-9-17pp.", a probable reserve of 386,000 tons averaging 230
grams/ton was stated. This estimate used "Labuschagne, A.N. 1976. Report on the
Damara Mining Company Uranium Proposition. Grant M46/3/399. Unpubl. rep., Gold
Fields Prospecting (Pty) Ltd." as its reference (unavailable for viewing).
The historical reserve estimates do not include assays or details of the
calculations, therefore it is not possible to compare the categories of reserve
with those required by NI 43-101. The company believes that the estimate is
relevant to an appraisal of the merits of the property because the estimate was
based on all drill data available at the time, and because there is no evidence
of any subsequent work on the property. The company believes that the estimates
may, to a limited extent, be reliable because they appear to have been prepared
internally, for major companies. No more recent data or resource estimates are
available in the public domain. No work has been done by a qualified person to
classify the historical reserve estimate as a current resource or reserve. The
company is not treating the historical reserve as a current mineral resource or
reserve. The historical reserve estimate should not be relied on.
Extensive ground exploration has now been undertaken by Xemplar geologists and
grab samples have returned values ranging from 938 ppm to U-13,300 ppm U
(spectrometer readings). A single grab sample taken in the Mile 72_Area B has
returned the following assay result:
------------------------------------------------------
U (XRF 75g) U3O8 (XRF 75g) Th (XRF 75g)
------------------------------------------------------
11,275 ppm 13,296 ppm less than 10 ppm
------------------------------------------------------
A new target area has been identified to the west of these historic workings,
and it displays high grade surface mineralization with spectrometer readings
increasing with depth in excavated areas and in naturally exposed bedrock. An
extensive and systematic surface exploration program along seven (800m long)
traverses is in progress. Geological mapping is being carried out along with a
surface radiometric survey with lines spaced 200m apart. Small pits are being
dug to expose the lithologies underlying the alluvial cover which is masking the
surface radiometric response. Background total count average 170 tcps
(spectrometer) with a noticeable increase in readings where the alluvial cover
has been removed and the underlying lithologies have been exposed. Spectrometer
readings collected to date are very promising and presented in following table:
-------------------------------------------------
Background Sample
cps ID tcps U Th
----------------------------------------------------------------
Traverse 1 180 B01501 1290 78 15
----------------------------------------------------------------
Traverse 2 157 B01502 1119 57 25
-------------------------------
B01503 2572 143 17
-------------------------------
B01504 10610 938 71
-------------------------------
B01505 5462 422 48
----------------------------------------------------------------
Traverse 3 548 B01506 1900 112 19
-------------------------------
B01507 1540 93 10
-------------------------------
B01508 3100 220 21
-------------------------------
B01509 4700 345 20
-------------------------------
B01510 6500 528 37
-------------------------------
B01511 6500 528 37
----------------------------------------------------------------
Traverse 4 330 B01512 820 40 20
-------------------------------
B01513 1350 73 25
-------------------------------
B01514 5820 456 19
-------------------------------
B01515 2572 143 17
----------------------------------------------------------------
Traverse 5 270 B01601 5626 456 45
-------------------------------
B01602 4605 375 20
-------------------------------
B01603 2329 156 19
-------------------------------
B01604 4022 319 26
-------------------------------
B01605 3400 270 20
-------------------------------
B01606 3600 245 21
-------------------------------
B01607 3400 270 20
-------------------------------
B01608 7335 510 31
----------------------------------------------------------------
Traverse 6 270 B01609 443 6 25
----------------------------------------------------------------
Traverse 7 170 B01610 12502 900 17
-------------------------------
B01611 2193 142 29
----------------------------------------------------------------
Xemplar will carry out an extensive surface exploration programme in early 2011,
which will comprise detailed geological mapping, surface radiometric surveys,
surface sampling and a drill program in the Mile 72 target areas.
Warmbad Uranium Project (1,351 km2)
In 2007, airborne radiometric survey data identified fourteen (14) extensive
alaskite bodies with an anomalous radiometric signature. Subsequent detailed
surface radiometric surveys, geological mapping and surface drilling refined the
alaskite bodies to eight (8) major zones displaying continuous low grade uranium
mineralization. The Warmbad Project exploration model is similar to Rossing
style uranium mineralization, with the potential for a high tonnage / relative
low grade uranium deposits. In 2008 & 2009, Xemplar drilled 71,000 metres and
identified a number of sizeable zones of uranium mineralization:
Big Yellow West: Mineralization along a 1,200m strike length has been outlined
and remains open in both strike directions. The average uranium grade of the
mineralized zone is approximately 120 to 130 ppm. Grades and grade thickness
varies along the strike as well as along dip with the best mineralized intercept
of 52m @ 170 ppm (including 13m @ 265 ppm).
Big Yellow East: Three (3) relatively thin zones of mineralization have been
identified and are associated with a major anticlinal structure. Typical uranium
grades and thicknesses of these mineralized zones are 19m @ 152.2 ppm (including
10m @ 167.3 ppm) and 14m @ 144.7 ppm (including 9m @ 167.2 ppm). Sling drilling
utilizing a helicopter at the Big Yellow East "New Target" (only two holes
drilled) identified low grade mineralisation along a strike length of at least
1,000m. Typical grade and thickness of the foregoing mineralization is 25m @
116.7ppm (including 7m @ 140.5 ppm)
Houms-River: Uranium mineralization along a 500m strike length has been
identified with good potential to extend the zone of mineralization along a
1,800m strike length. Typical grade and thickness along the known 500m strike
length is 47m @ 165 ppm, 22m @ 133 ppm, 10m @ 214.9 ppm and 17m @ 204.5 ppm.
Girtis: Limited helicopter sling drilling was carried out during 2009. This
drilling has identified potential mineralization along a 3,000m strike length,
including a drill intercept with a grade and thickness of 38m @ 146.7 ppm. A
further example of the high prospectively of the Girtis Target is demonstrated
by the totally unexplored, thin but high order airborne radiometric anomalous
zone immediately to the south of the Girtis Main Target Area (Figure following).
The high order radiometric response along a 10,000m strike length significantly
enhances the probability of identifying mineralization along a considerable
strike length.
Aluriesfontein: Surface drilling has identified at least 3 mineralized areas
which are associated with fold structures. Typical high grade uranium
mineralized intercepts in Target Area 3 is 37m @ 169 ppm (including 13m @ 290.9
ppm), 28m @ 181.3 ppm (including 18m @ 241.5 ppm) and 25m @ 185.1 ppm. Typical
high grade mineralized intercepts in Target Area 5 (associated with a fold axis)
is 20m @ 152.3 ppm, 41m @ 122 ppm (including 15m @ 161.4 ppm) and 24m @ 161.4
ppm (including 13m @ 188.4 ppm).
Exploration to date confirms our belief that the Warmbad Project could well
develop into a new uranium province which benefits from local power and water
supply. Xemplar is now at the stage where we need to engage a strategic partner
to take the Warmbad Project to its full potential. With Uranium prices having
risen 27% this year and a large number of corporate finance deals being
announced in the uranium sector, projects of this caliber are of interest to
those entities searching for high potential uranium assets.
Mike Magrum, P. Eng, a qualified person under National Instrument 43-101, has
approved the technical content of this news release.
On behalf of the Board of Directors,
Xemplar Energy Corp.
Simon Tam, CEO and Director
This news release shall not constitute an offer to sell or the solicitation of
an offer to buy securities in any jurisdiction.
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