TORONTO, Aug. 8 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is
pleased to report on the comprehensive program underway at its North Rae
Uranium Project in the Ungava Bay region of northern Quebec, under option from
Azimut Exploration Inc. In less than one month of field work performed in
early July by a joint NWT Uranium-Azimut task team, crews have completed their
initial ground evaluation and ranking of the property's 14 top-priority
anomalies, selecting three large radioactive targets for trenching. Ongoing
work will further refine targets for drilling, which is scheduled to commence
this field season.
"Results at North Rae continue to underscore the property's significant
uranium potential," said Marek J. Kreczmer, President and CEO of NWT Uranium.
"Our most recent findings, coupled with earlier rock sample and lake sediment
results, highlight the area's potential to host a new uranium district. NWT
Uranium is committed to rapidly advancing the property, and we look forward to
commencing a drill program to further test the newly identified radioactive
targets and other high-priority areas."
The 2007 ground exploration program currently underway at North Rae has
been designed to further delineate, refine and rank drill targets using a
combination of geophysics, trenching and geochemical sampling. Radioactivity
is being measured and results are being mapped on a comprehensive geophysical
Crews have completed their initial ground evaluation and ranking of the
14 top-priority anomalies, which were discovered during an airborne
geophysical survey conducted in the 2006 field season. Seven anomalies have so
far been selected for follow-up field work. These include Tasialuk, Tasik and
Torrent, three large radioactive targets identified for extensive sampling,
trenching, and geological and radiometric ground detail surveys using 328-foot
(100-meter) line spacing, with tighter 164-foot (50-meter) and 82-foot
(25-meter) line spacing in anomalous areas.
The Tasialuk zone contains a radioactive area measuring 3,280 feet (1,000
meters) by 656 to 984 feet (200 to 300 meters). Tasik covers an area of
elevated radiometry measuring 3,280 feet (1,000 meters) by 328 to 492 feet
(100 to 150 meters). Torrent contains a radioactive area measuring 5,577 feet
(1,700 meters) by 164 to 492 feet (50 to 150 meters). Uranium mineralization
appears to be hosted mainly by gneissic, granitic and granitic pegmatite
Areas with elevated radiometry registered values ranging from 1,000 to
40,000 counts per second (cps) in sharp contrast to background values of
approximately 120 cps.
The only follow-up field work conducted previously was on a showing
coincident with a 3.1-mile (5.0-kilometer) long airborne anomaly. This
follow-up work on the ground led to the definition of the Rae-1 Zone, a
2.0-mile (3.3-kilometer) mineralized zone that has returned rock sample values
up to 0.59% U(3)O(8), as reported in a press release dated November 29, 2006.
The Rae-1 Zone will also be subject to a systematic ground radiometric survey
Grab samples from all zones, collected during 2007 ground evaluation,
have been submitted to Saskatchewan Research Council of Saskatoon for analysis
using Aqua Regia Partial digestion followed by ICP.
NWT Uranium has budgeted a total of C$1.5 million for 2007 exploration in
Quebec on its two uranium properties under option from Azimut. Work at North
Rae is scheduled to include helicopter-borne geophysics, prospecting and
sampling, mapping and diamond drilling at a cost of C$1.2 million. At Daniel
Lake, NWT Uranium proposes to spend C$300,000 on geophysics, lake-bottom
sediment geochemistry and reconnaissance prospecting. At least 2,500 meters of
drilling will be completed at North Rae by the end of 2007.
NWT Uranium has the right to acquire up to 65% interest from Azimut in
the North Rae Uranium Project, where results to date have revealed the
potential for a new uranium district. NWT Uranium also has an option to
acquire up to 65% ownership in the Daniel Lake Uranium Project, which is
contiguous with North Rae. North Rae and Daniel Lake cover a total area of
more than 200,000 acres (81,000 hectares).
ABOUT NWT URANIUM CORP:
NWT Uranium Corp. (www.northwestmineral.com) is an international resource
exploration company with an experienced management team. The company is
focused on properties with potential uranium targets. NWT Uranium also has a
precious and base metal property in Mexico. NWT Uranium is listed on the NASD
Bulletin Board under the symbol "NWURF" and the TSX Venture Exchange under the
symbol "NWT." Formerly Northwestern Mineral Ventures Inc., the company adopted
its current name on August 3, 2007.
Mr. Rejean Girard, P.Geo., of IOS Services Geoscientifiques Inc. based in
Chicoutimi, Quebec, is the qualified person responsible for the current
exploration program at North Rae and has verified the data reported above. Mr.
Girard is a consultant to NWT Uranium, and has sufficient experience relevant
to the style of mineralization and type of deposits under consideration and to
the activity which he is undertaking to qualify as a Qualified Person for the
purposes of the geological section in this report. Mr. Girard has no interest
in NWT Uranium and has consented to the inclusion in this report of his name
in the form and context in which it appears.
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.
Additional information about NWT Uranium's Quebec properties is contained
in press releases dated January 29, 2007, November 29, 2006, October 11, 2006,
October 5, 2006, September 5, 2006, August 9, 2006 and March 6, 2006.
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