TORONTO, Sept. 5 /CNW/ - Goldstake Explorations Inc, Toronto Stock
Exchange (Symbol, GXP), Frankfurt Stock Exchange (Symbol GOO), having
completed its claim acquisitions on 4 uranium areas in the Bancroft region, is
pleased to now disclose details of its new 100% owned projects;
Historical sampling of the South Canonto claims (832 hectares) covers a
potential large tonnage uranium/thorium/rare earth deposit with values
reported up to 9.8 lbs. uranium oxide (U 308), 36 lbs. thorium (Th) and
10 lbs. per ton rare earth oxides (ree), of which 9.2 lbs. per ton are oxides
of lanthanum, cerium, neodymium, praseodymium and yttrium.
Historical exploration, circa 1970, included detailed scintillometer
survey and 88 shallow pits being blasted and sampled below the overburden on
the higher outcrops, was described at that time as covering an area 1/4 mile
square. Geiger-counter reconnaissance over 40 claims adjoining the discovery
area indicates the uranium-bearing zone has a strike length of 3 miles and a
width from 1/4-1/2 mile.
All 4 of the new properties cover gamma-ray radiometric anomalies
discovered by an airborne survey, completed in 2004 by the Geological Survey
of Canada (GSC). The radiometric survey was completed well after the major
events of historical uranium exploration in the 1980's. Goldstake is of the
opinion that the uranium potential of these gamma-ray anomalies has not been
All of the properties are underlain by foliated to gneissic granite
intrusions and paragneissic metasediments intruded by late-stage granite and
syenite pegmatite dykes.
Uranium mineralization in this Grenville Province has been found in many
different rock types. The majority of the occurrences are related to
hydrothermal alteration zones associated with late-stage pegmatite dykes and
late-stage faulting. There is evidence suggesting that the region has
undergone several events of uranium deposition.
Mr. Robert Dillman, P.Geo is the Qualified person for this report.
Applications for "Plan Of Work" on the Henry Mountain "Woodruff" claims,
(approximately 6 miles by 2 miles) the "Shelley" claims, (approximately
1 square mile) the "Point" claims (approximately 3/4 square miles) and the
"Bobs" claims, (approximately 3 square miles) have been approved by the US
Bureau of Land Management (BLM) and are currently being registered with the
State of Utah.
A highly experienced and qualified uranium geologist is in the process of
finalizing a report on the Henry Mountain (Woodruff, Shelley and Point
claims). All claims have been paid for and renewed for 12 months from the 1st
of September 2007.
Goldstake Explorations Inc is a Canadian company, listed on the Toronto,
Canada, and Frankfurt, Germany, stock exchanges. Goldstake is a mining
exploration and development company with projects in Canada, Australia and the
It is Goldstakes's policy to operate only in countries with little or no
"Sovereign Risk" attached to security of land tenure.
For further information:
For further information: Robert Cleaver, (416) 201-9223; Goldstake
Office, (905) 829-3393; Web Site: email@example.com