VANCOUVER, March 26 /CNW Telbec/ - Atomic Minerals Ltd. (ATL: TSX-V) is
pleased to announce that it has signed an exploration services agreement with
Geo Can Resources Company Ltd. of Tanzania. The mining licenses covered by
this contract are PL4254, PL4433 and PL4335, all located near Lake Nyasa in
the Mbinga district of Tanzania. These properties cover an area of
approximately 1,760 sq. km., and are included in the Company's Technical
Report prepared according to National Instrument 43-101 (see our news release
dated January 30, 2008). The work to be done under the agreement carries a
total budget of USD$467,000 and includes: geological mapping and sampling,
airborne and radiometric surveying, trenching, pitting, assaying and shallow
RC drilling. Phase One of the program has already begun and has a USD$25,000
budget for two months of geological mapping and sampling including 200 soil
samples and assays.
Currently, the exploration teams are completing uranium anomaly
identification work on PL4335 by ground survey using GAMMA surveyor and
Scintrex GIS-4 Gamma Ray Spectrometers. At this time, over 40 sq. km. have
been covered with a total of 1,035 readings taken.
Atomic expects to announce shortly the initiation of a helicopter
airborne magnetic and radiometric survey. "The Company is looking to advance
its projects quickly." said Warren McIntyre, Atomic's President, "Ground crews
have already identified anomalies that require further investigation and once
the Company has the results of the airborne magnetic and radiometric
information, we will be able to quickly and effectively identify drill targets
for these properties."
About Atomic Minerals
Atomic holds the right to earn up to a 100% interest in a land package
totalling approximately 3800 square kilometres located in the United Republic
of Tanzania (the "Properties") by way of an option agreement with Geo Can
Resources Company Ltd. The largest of the Properties are located in
south-western Tanzania and are considered to be part of the "Malawi Extension"
based on the location of these Properties relative to blocks earmarked as
potentially favourable for uranium enrichment. The Malawi Extension, located
in the Republic of Malawi on south-west border of Tanzania, hosts the
Kayelekera deposit which Paladin Resources is currently developing into a
mine. Other mining companies exploring in the area include Mantra Resources
and Western Metals (both in Tanzania).
Atomic Minerals Ltd. holds leases over a total of 932 mining claims
located in both Dolores and San Miguel counties in southwestern Colorado,
approximately 30 miles from Denison Mine Corp's White Mesa Mill. The Company
also holds a letter of intent to option a 90% interest in a further
1585 mining claims in Dolores County. Atomic holds leases over an additional
272 mining claims located in the northern part of Colorado in Grand County.
President and Chief Executive Officer
Atomic Minerals Ltd.
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or accuracy of this news release.
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