VANCOUVER, Nov. 15 /CNW Telbec/ - Atomic Minerals Ltd. (TSX-V: ATL) - As
reported in its news release of November 14, 2007, Atomic Minerals Ltd.
("Atomic" or the "Company") is pleased to announce that it has begun drilling
on the first transect of the Dolores Anticline. This initial drilling is part
of a planned 30,000 foot program for the Summit Point and Box Canyon
Exploration Projects in San Miguel County, Colorado. Currently, our first
borehole, SP9, has reached a depth of over 900 feet.
Atomic's Vice-President of Exploration, Richard Dorman says "our initial
drill hole at Summit Point will be looking for the mineralized zone of the
Moss Back member of the Chinle Formation. Upon completion of this hole, we
will be working along the flank of the Anticline with the next eight holes.
Our rotary drill rig is running 24 hours a day, and this first hole of up to
2100 feet should be completed by Friday morning."
The Dolores Anticline is located only 30 miles from Lisbon Valley and is
also within the Uravan Mineral Belt. Economically important amounts of uranium
have been produced from the Salt Wash Member of the Morrison Formation of Late
Jurassic Age, and the Moss Back Member of the Late Triassic Chinle Formation
in and near the Uravan Mineral Belt in San Miguel, Montrose and Dolores
Counties, Colorado (United States Geological Survey 1968, Daniel R. Shawe,
Denver, Colorado). Additionally, the Dolores Anticline was drilled by both
Hunt Oil and Newmont in the 1970s. Drill logs from this wide spaced drilling
indicate that the favorable Moss Back Member of the Chinle Formation is
present in the area. The Dolores Anticline is one of the last salt anticlines
in the Paradox Basin which has not been extensively drilled to explore for
mineralization in the Moss Back Member of the Chinle Formation. Field
investigations have confirmed the presence of favourable environments within
the Moss Back Member of the Chinle Formation along the Dolores River Canyon
which transects the Dolores Anticline.
Atomic also has a letter of intent with Geo Can Resources Company Ltd. to
enter into an option agreement to earn the right to acquire up to a 100%
interest in a land package totalling approximately 3600 square kilometres
located in the United Republic of Tanzania (the "Property"). The Property is
located in south-western Tanzania and is considered to be part of the Malawi
Extension based on the location of the Property relative to blocks earmarked
as potentially favourable for uranium enrichment. Other mining companies
exploring in the area include Paladin Resources (Malawi), Mantra and Western
Metals (both in Tanzania).
The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release.
For further information:
For further information: on Atomic, please contact Warren McIntyre, the
Company's Chief Executive Officer at (604) 639-2866; Renmark Financial
Communications Inc.: Christine Stewart: firstname.lastname@example.org;
Victoria Stepanova: email@example.com, (514) 939-3989, Fax:
(514) 939-3717, www.renmarkfinancial.com