KELOWNA, BC, March 20 /CNW/ - Trigon Uranium Corp. ("Trigon" or the
"Company") (TSX-V:TEL) today announced that it is initiating the Phase 1
drilling program of the planned multi-phase exploration program on the
Marysvale uranium project in central Utah. Trigon has contracted Diversified
Drilling LLC of Missoula, Montana, to drill 16 reverse circulation drill
holes, totalling approximately 10,500 feet, to confirm and expand the known
uranium resources on the Marysvale property. The three week drilling program
is expected to start at the beginning of April. The reverse circulation drill
holes will be gamma-logged for equivalent uranium content. In addition, cored
sections of the mineralised zones will be obtained for chemical assays. The
assays are needed to confirm the uranium content estimated by the
Ground conditions at Marysvale are quickly drying following snowmelt.
This will allow field work to commence upon arrival of the drill from its
current commitments. Trigon's analysis of both historic data and its own 2006
geophysical surveys identified a number of target areas for drill testing (See
December 6, 2006 news release for further details). Trigon believes that there
is high potential to significantly expand the known uranium resource on the
Mr. Sidney Himmel, President and CEO of Trigon stated: "We are pleased to
be commencing drilling on the Marysvale property having completed geological
and geophysical field work as well as analysis of the historical data. The
program is being led by Ian Thompson, P.Geo., Senior Technical Advisor to
Trigon and a director of the Company. Field work is being supervised by Stuart
Havenstrite, a Certified Professional Geologist with many years of uranium
experience in the U.S. Southwest. We currently hold three exploration and
development projects in Utah and the Marysvale drill program will be exciting
for the Company. Subsequent drill programs will be completed on our properties
in the Henry Mountains and at Wray Mesa."
The Marysvale property was last explored for volcanic-hosted uranium
between 1979 and 1981 by Phillips Uranium Inc. ("Phillips"). Most of the 190
holes Phillips drilled intersected uranium mineralization. The program
successfully delineated significant resources before weakened uranium markets
forced Phillips to abandon the project in 1981. In 1982, Dr. P. Proctor, using
the Phillips drilling data, reported: "Reserves totalling at least
1.8 million lbs. of U(3)O(8) occur between 300 and 500 feet of the surface on
the Marysvale project. This includes calculated reserves of 1.1 million lbs.
and projected reserves of at least 0.75 million lbs." Proctor concluded that
"additional potential U(3)O(8) ore exists on the property which could double
or triple the reserves of the district(1)."
The majority of the Phase 1 drill holes will be drilled to test targets
identified from Trigon's geophysical surveys. The main target area is the
untested geophysical extension of a strongly mineralised zone discovered by
Phillips during their last week of drilling in 1981. Here, historic drill
holes with important uranium intersections will be offset by close drilling in
order to expand the size of the known deposit. Additional important targets
are surface radiometric anomalies and uranium showings in both the northern
and the southern parts of the property. Several drill holes that are
significant contributors to the historic resource calculation will be
"twinned" to convert the historic resource to a NI 43-101 compliant resource
and downhole gamma-log surveys will be run on accessible Phillips drill holes
that contribute to the known resource.
(1) Dr. Proctor's estimates were made prior to implementation of National
Instrument 43-101 standards, and does not qualify as a resource or
reserve, and thus, the historical estimate should not be relied upon
as 43-101 standard reserves.
About Trigon Uranium Corp.
Trigon Uranium Corp. is a uranium exploration and development company
focused on the known deposits of the south-western United States, a region
that has produced over one billion pounds of uranium. Trigon has a
highly-qualified team of uranium exploration experts to direct its efforts at
its Marysvale, Henry Mountains and Wray Mesa projects of southern Utah, and
elsewhere in North America. Trigon also operates a portfolio of high potential
diamond exploration properties within a wholly-owned subsidiary, Trigon
Diamond Corporation Ltd. Trigon has 52,212,956 shares outstanding and its
stock trades on the TSX Venture Exchange under the symbol "TEL".
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The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This release
includes certain statements that may be deemed "forward-looking statements".
All statements in this release, other than statements of historical facts,
that address future developments that the Company expects to occur, are
forward-looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward looking statements include market prices,
exploitation and exploration successes, and continued availability of capital
and financing and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from
those projected in the forward-looking statements. The Company does not assume
any obligation to update or revise its forward-looking statements, whether as
a result of new information, future events or otherwise.
For further information:
For further information: www.trigonuraniumcorp.com; Sidney Himmel,
President and Chief Executive Officer, Trigon Uranium Corp., Tel: (250)
317-3624, Email: email@example.com; Jeanny So, Broker
Relations Specialist, CHF Investor Relations, Tel: (416) 868-1079 x225, Email: