Trading Symbol TSX-V - ESO
Frankfurt - E2G
VANCOUVER, Aug. 27 /CNW/ - ESO Uranium Corporation (TSX-V: ESO), the
Company, is pleased to announce that it has received permits for a 10 hole
diamond drill program on its 132,000 acre (52,800 hectare) Hook Lake uranium
claims. This program will be carried out using helicopter support for the
drilling operation, to allow access prior to winter freeze-up.
The drilling will test targets on a possible extension of the
north-northeasterly striking Dirksen Structure which may extend through
geophysical and geochemical targets on the Hook Claims. A second target area
has been selected for part of the drill program that is on a sub-parallel
structure, lying to the west of the Dirksen. A drill hole (DER-4) by Imperial
Oil and SMDC on the Dirksen structure is located 4 km from the south central
boundary of the Hook Claims. This hole is reported to have had grades of 1.35%
nickel and 0.24% (4.8 lb/t) U3O8, over a 2.5 meter intercept located 9.8
meters below the unconformity at the base of the Athabasca Basin.
Drill target selection for the Hook claims has been based on airborne and
ground geophysical surveys which included the Fugro Megatem airborne system
and high resolution ground resistivity surveys. Earlier work indicated
geochemical and mineral signatures in drill holes near and around these
targets, including boron anomalies and clay alteration which are often
associated with the alteration plumes that may exist above the high grade
uranium deposits sought by this work.
The claims adjoin, to the South, mineral tenure of Cameco Corporation
that has been optioned to Purepoint Uranium Group Inc and to the West, claims
of Fission Energy Ltd and to the East, claims of Titan Uranium Incorporated.
All three areas are under active exploration at this time.
For reference, the current spot price quoted by uxc.com for uranium oxide
is US$90 per pound of U3O8; an assay reported as 1.0% of U3O8 is equal to
20 pounds of uranium oxide per short ton - the conversion of percent metal or
metal oxide from percent to pounds per short ton is done by multiplying the
% value by 20.
On behalf of the Board of Directors of ESO Uranium Corp.
Vice President, Exploration
Please refer to the ESO Uranium website for further and updated
The Toronto Venture Exchange has not reviewed nor accepted responsibility
for the adequacy or accuracy of the contents of this news release which has
been prepared by management. Statements contained in this news release that
are not historical facts are forward looking statements as that term is
defined in the private securities litigation reform act of 1995. Such forward
looking statements are subject to risks and uncertainties which could cause
actual results to differ materially from estimated results. Such risks and
uncertainties are detailed in the Company's filing with the Securities and
For further information:
For further information: For Corporate Communications please contact:
Tom Corcoran or Bob Meister, ESO Uranium Corp., Vancouver, BC, Phone: (604)
629-0293, Toll Free: 1-866-629-0293, Email: firstname.lastname@example.org