TORONTO, Oct. 31 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is
pleased to provide an update on activities underway at its 19,000-acre
(7,700-hectare) Picachos project in Durango, Mexico. In recent months, NWT has
conducted an IP survey and rock sampling over Los Cochis, one of four
contiguous precious metal districts on the Picachos property. Work is being
conducted to ensure that NWT and its shareholders get full value for this
asset. Assay results from rock chip channel and rock grab samples reveal
individual values of up to 145 ounces per ton (4,975 grams per tonne) silver,
0.25 oz/t (8.61 g/t) gold, 53% zinc as well as 50% lead. Two targets at Los
Cochis were defined as part of the exploration program: El Fresno and La
Tijera. Drilling is scheduled as the next step of the ongoing work program.
"Of the four districts, NWT chose to focus on Los Cochis because of its
potential to host large-tonnage, near-surface silver-lead-zinc mineralization
that is amenable to open-pit mining," said Marek J. Kreczmer, President and
CEO of NWT Uranium. "We are encouraged by the high levels of silver-lead-zinc
mineralization returned from our rock sampling program and by the fact that
our results correspond to other well-known Mexican massive sulphide-base metal
El Fresno is characterized by high silver geochemistry in a 2,625-foot by
1,640-foot (800-meter by 500-meter) area that trends east-southeast. The
average assay value of 164 rock chip-channel and grab samples is 9.5 oz/t
(328 g/t) silver, 1.62% zinc, 1.01% lead and 0.05% copper. Most samples from
El Fresno were cut from disseminated and stockwork mineralization exposed in
creek draws and historic workings. Results include 157 feet (48 meters) of 1.6
oz/t (56 g/t) silver, 0.4% lead and 1.2% zinc (average result of
34 continuous chip-channel samples).
La Tijera is a complex northwest-trending fault zone northeast of
El Fresno that controls the emplacement of diorite porphyry intrusions,
quartz-feldspar porphyritic monzonite intrusions and gold-rich mineralization.
The fault zone is a crustal-scale lineament that strikes into the El Toro
district, five miles (eight kilometers) to the northwest on the Picachos
property. The average result of 47 chip channel and grab rock samples from
mineralized parts of the fault are 14.2 oz/t (489 g/t) silver, 5.26% zinc,
3.3% lead and 0.02 oz/t (0.9 g/t) gold. The fault is marked as a chargeability
anomaly with some depth on the IP survey.
NWT has an option to earn a 70% interest in Picachos from Yamana Gold as
announced in a press release dated July 12, 2006.
Sampling was supervised by Michelle Robinson, MASc., P.Eng., who is a
qualified person as defined by National Instrument 43-101 and a consultant to
NWT Uranium. Ms. Robinson has supervised the preparation of and verified all
data in this press release. All samples were cut and bagged, then security
sealed. Samples were submitted to Chemex Labs in Hermosillo for preparation
and for analysis in Vancouver, Canada. Silver and base metals were analyzed
using ICP-AES methods on a 5 gram sample pulp digested in hot aqua regia. Gold
was analyzed using conventional fire assay of a 50 gram sample pulp with
atomic absorption. Samples with more than 200 g/t silver, and 1% lead, zinc or
copper (overlimits) were re-assayed.
ABOUT NWT URANIUM:
NWT Uranium Corp. (www.nwturanium.com) is an international resource
exploration company with an experienced, highly technical management team.
Since its inception, NWT has concentrated on the acquisition of properties
with potential uranium targets. NWT Uranium is listed on the NASD Bulletin
Board under the symbol "NWURF" and the TSX Venture Exchange under the symbol
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within
the meaning of the United States Private Securities Litigation Reform Act of
1995. Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the Company
are forward looking statements that involve various degrees of risk. The
following are important factors that could cause the Company's actual results
to differ materially from those expressed or implied by such forward looking
statements: changes in the worldwide price of mineral commodities, general
market conditions, risks inherent in mineral exploration, risks associated
with development, construction and mining operations, the uncertainty of
future profitability and the uncertainty of access to additional capital.
Some of the assays returned were below the detection limits of the
analytical techniques used to analyze samples.
Potential quantity and grade is conceptual in nature. There has not been
sufficient exploration at Picachos to define a mineral resource and it is
uncertain if further exploration will result in discovery of a mineral
resource on the property.
For further information:
For further information: Marek J. Kreczmer, M.Sc., P.Eng., President and
CEO, NWT Uranium Corp., (866) 437-9551, firstname.lastname@example.org