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.
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 press release.
Contacts: Xemplar Energy Corp. Simon Tam CEO and Director
+1.604.687.4191 +1.604.871.9926 (FAX) info@xemplar.ca
www.xemplar.ca
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