(DNI: TSX-Ven, DG7: Frankfurt)
TORONTO, June 19 /CNW/ - Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is
pleased to announce that it has completed staking of a 20 square mile land
position in the West Marysvale (Newton) Historic Mining District, in central
Utah. DUMONT holds a 100% interest in the claims which will be held by Red
Butte Uranium Inc., DUMONT's wholly owned Uranium subsidiary. The claims are
located on the rim of the Mount Belknap volcanic caldera, and include many
Uranium showings and historic mine workings. Some of the mineral showings
staked also carry Gold.
The historic Marysvale Mining District, located approximately
300 kilometres south of Salt Lake City, is situated at the western margin of
the Colorado Plateau, in the transition between the Colorado Plateau and the
Basin and the Range geological provinces. The Mining District lies within the
Marysvale Volcanic Field, a complex suite of Tertiary volcanic rocks and
calderas which formed during multiple extrusive events. Mineralization and
mineral deposits in the District are associated with distinct volcanic events
and related calderas. The most notable of these is uranium mineralization and
deposits associated with the Mount Belknap and Red Hills calderas. In addition
to historic Uranium production, the District has also produced base metals and
Approximately 1.1 million pounds of U(3)O(8) were produced from the
Marysvale Mining District, during the 1950's-1960's, from various mines
located mostly in its eastern portion (the Central Mining Area). Historic
grades typically range 0.1% to 0.2% U(3)O(8), with higher grades ranging 0.2%
to 0.4% U(3)O(8), to as high as 1.1% U(3)O(8) reported from an underground cut
at the historic U-Beva Mine located on DUMONT's claims. Documented Uranium
mineralization extends westward from the Central Mining Area, nearly to the
Nevada border. DUMONT's Properties are located in the western part of the
District, approximately 30 miles to the west of the Central Mining Area, in a
similar prospective geological setting.
Primary Uranium mineralization in the District occurs in steep epithermal
veins, cutting through a complex sequence of intrusive and volcanic horizons.
Historic work has focused mostly on these veins with little attention paid to
secondary, or re-distributed, Uranium mineralization potentially concentrated
below surface in favourable lateral units cut by the higher grade veins. The
potential for discovery of new Uranium deposits hosted in favourable lateral
units has not been adequately evaluated as these units remain under-explored.
Relying on historic records, approximately thirty targets have been
identified by DUMONT on the newly acquired claims. The targets typically
represent well defined zones of advanced clay alteration associated with a
number of structures related to the rim of the Mount Belknap volcanic caldera.
Many of the targets identified also host historic Uranium showings or mine
workings, and can be considered to be very prospective areas for concentration
of subsurface lateral uranium zones.
Dumont has commenced work to prioritize the areas staked, in preparation
for broader field programs to follow. Additional details will be announced
once plans are finalized.
Shahe F. Sabag, Dumont's President and CEO, stated, "we are excited by
this first step toward consolidation of an active Uranium Property portfolio
in historic mining districts in the western US."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
The Qualified Person in connection with this press release is
S.F.Sabag P.Geo, President and CEO of Dumont.
Dumont is a mineral exploration company with operations in Ontario, Utah
and Nevada. DUMONT is Operator of the Utah Joint Venture which controls
approximately 18 square miles of mineral properties across the historic
Clifton-Gold Hill gold-silver-copper Mining District. 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