DUMONT NICKEL INC. (DNI : TSX-Ven, DG7 : Frankfurt)
TORONTO, Jan. 30 /CNW/ - Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is
pleased to announce that recent field work completed by DUMONT at its
Marysvale Uranium Property, Utah, has successfully expanded the U-Beva Uranium
Dumont's previous field work over the U-Beva Uranium Zone traced the
principal mineralized fault over a 700ft strike length, and defined an
approximate 50ft-120ft wide corridor reporting anomalous gamma ray radiometric
grades upward to 0.03% eU(3)O(8) (press September 26, 2007). Detailed surface
work completed in October-December expanded width of the anomalous corridor to
approximately 500ft and confirmed uranium mineralization in outcrops exposed
within the corridor.
In addition, reconnaissance radiometric surveying of the area surrounding
the historic mine has discovered surface uranium anomalies on-trend over a
distance of approximately one half mile, suggesting that the U-Beva fault may
extend beyond the historic mine workings much further than previously
expected. The fault remains "open" along strike in both directions.
Primary Uranium mineralization in the Marysvale District occurs in steep
epithermal veins which were the focus of historic work. The potential for
discovery of re-distributed Uranium mineralization concentrated below surface
in favourable lateral units cut by the higher grade veins has not been
adequately evaluated. Dumont's focus is to test a number of targets for
Uranium mineralization leached from the higher grading veins beneath known
Uranium showings and historic mines.
Work has been ongoing intermittently at the Marysvale Property since
September on two of the eighteen high priority uranium targets identified by
DUMONT. The two targets are the U-Beva Historic Mine area and the KO prospect,
both of which are historic prospects with uranium zones exposed on surface.
Results from DUMONT's field work indicate that both targets hold potential for
hosting laterally distributed Uranium mineralization leached from the higher
grading historic veins.
Historic records describe the U-Beva uranium zone as a shoot in a fault
in altered volcanics just below the contact with overlying rhyolite. The
historic "pay" zone is reportedly a few feet wide traceable for 140 feet.
Though surface samples over the zone are reported to have averaged less than
0.05% U(3)O(8), underground grades ranged 0.4% to 1.1% U(3)O(8) over widths
ranging 0.8ft to 3ft. Examination of an excavation on the U-Beva target
indicates that uranium mineralization extends laterally from the main fault
zone beneath a gently dipping volcanic contact. This observation reinforces
the potential of the area to host laterally distributed uranium zones beneath
the historic zone, and is corroborated by DUMONT's recent field work findings.
Concurrently with work on the U-Beva Zone, initial sampling and mapping
were also completed over the KO Prospect. This work identified shallow-dipping
potential redox horizons reporting anomalous uranium from radiometric
surveying and rock-chip samples. Discovery of these horizons reinforces the
potential for discovery of lateral uranium zones associated with uranium zones
so far mapped only on surface. The KO Prospect is, like many others on the
Marysvale Property, a uranium prospect in altered zones along faulting in
Bullion Canyon volcanics. Historic references to the prospect in geologic
literature report grades ranging 0.1% to 0.23% U(3)O(8).
Field activities over the Marysvale Property have recessed for the winter
and will resume once snow cover has cleared. Given the success thus far at the
U-Beva and KO prospects, work previously planned to evaluate several other
selected uranium targets will be deferred to concentrate on advancing the
U-Beva and KO targets toward drilling as soon as possible. To date,
approximately 200 surface samples have been collected by DUMONT and sent for
analysis, in addition to completing an aggregate of 3.5 line kilometers of
surface radiometric surveys over the U-Beva and KO prospects.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Dumont is a mineral exploration company with operations in Ontario, Utah,
Nevada and Arizona. DUMONT is Operator of the Utah Joint Venture which
controls approximately 15 square miles of mineral properties across the
historic Clifton-Gold Hill gold-silver-copper Mining District. DUMONT is
assembling a portfolio of uranium exploration projects across established US
historic mining districts. DUMONT holds one of the most prospective land
positions in the Attawapiskat diamond area in the James Bay Lowlands, Ontario,
with a carried interest in the Dumont Joint Venture exploring the area through
Metalex Ventures Limited and others under the direction of Mr.Charles Fipke.
All of DUMONT's properties are being actively explored either directly by
Dumont or via joint venture.
DNI - TSX Venture
DG7 - Frankfurt
For further information:
For further information: Dumont Nickel Inc., Shahe Sabag, President &
CEO, or Denis Clement, Chairman, (416) 595-1195, email, firstname.lastname@example.org.;
also visit www.dumontnickel.com