Trigon Comments on Timing of Henry Mountains Program Completion
KELOWNA, BC, Oct. 3 /CNW/ - Trigon Uranium Corp. (TSX-V:TEL; "Trigon" or
the "Company") reports that drilling on the Henry Mountains property is
progressing well. As previously reported (see September 19, 2007 Press
Release) the commencement of drilling on September 13, 2007 involved a delay
of nine days from the original planned starting date. Drilling carried out so
far has encountered favourable ground conditions despite drilling depths of up
to 1,500 ft. Based on experience to date, the time required to effectively
drill, log and complete a hole is up to seven days including setup time and
other down time. The Company therefore anticipates that the complete results
of the drill program will be released by mid-November or shortly thereafter.
Drilling on the Henry Mountains property is being performed by Diversified
Drilling LLC of Missoula, Montana. All holes are gamma logged by Century
Geophysical Corp. of Tulsa, Oklahoma.
Why buy TEL?
Trigon Uranium Corp. is an aggressive Uranium exploration and development company. Trigon focuses on advanced exploration properties and development properties. This provides for faster time lines to production compared to grass roots exploration. The properties are located in jurisdictions which are mining friendly, politically stable, and have predictable legal systems. The Company's two major Uranium properties, the Marysvale and Henry Mountians properties are located in the US South West, a region which has produced over one billion pounds of Uranium. The Company maintains a strong financial position and has no debt.
The Uranium Exploration and Development team will be headed by Mr. Ian Thompson, Technical Advisor to the Company and a Director of Trigon. Working with Mr. Thompson will be Mr. Stuart Havenstrite a Certified Professional Geologist with the American Institute of Professional Geologists, and Ms. Lisa Hardy, a Licensed Geologist in the State of Washington and a Fellow of the Geological Association of Canada. Dr. George Poling, the President and Chief Executive Officer of the Company will contribute his expertise in engineering and environmental matters to the Business.
Marysvale project:
The Marysvale project, Trigon's first uranium development asset, is located in the historic Uranium Marysvale Mining District in south-central Utah, approximately 300 kilometres south of Salt Lake City. Utah has been, and will again be a prolific producer of Uranium. The state is very mining friendly and the mining cost structure is very low thereby allowing for profitable uranium mining.
Mr. Ian S. Thompson, P.Eng., technical advisor to Trigon and the qualified person in respect of the Marysvale Project said: "Based on analysis of available data, we believe that the Marysvale Property has the potential to host significant Uranium resources in the rhyolitic volcanics as well as in the underlying intrusives."
In 1981, a report was prepared for Phillips by Dr. Paul Dean Proctor, the former Dean of the Missouri School of Mines, and an authoritative source on uranium exploration. Dr. Proctor concluded that "Blanket-type supergene uranium ore reserves totalling at least 1.8 million pounds of U3O8 (0.75 million tons of 0.075-percent U3O8 and 3 million tons of 0.03-percent U3O8) occur at the Marysvale Property within 300 to 500 feet of the surface." He concluded that "Additional potential U3O8 ore exists on the property which could double or triple the reserves of the district."
The drilling by Phillips intersected flat-lying uranium mineralization apparently associated with the margins of rhyolite domes and with zones of siliceous sinter. Individual lenses trend northeast, the preferred trend of the district. The rock is reportedly porous and apparently permeable, and preliminary uranium recoveries reported by an independent laboratory exceed 90-percent. Lower grade mineralization may thus be amenable to in-situ leaching. The historical work by Minex and Phillips seems to have tested less than 1/3rd of the favourable area now held by Trigon.
Trigon's uranium team, led by Ian S. Thompson, has designed a two-stage work program which aims to at least triple the historical 1.8 Million lbs of U3O8 reported by Dr. Proctor based on the historic drilling on the property.
Phase 1A and 1B consisting of ground magnetic, resistivity and radiometric surveys, geologic mapping and geochemical surveys to identify argillic alteration zones, fault zones and radiometric anomalies with follow-up drilling to confirm uranium mineralization and zone geometry completed in May, 2007.
Trigon is quite pleased about the prospect so far and looks forward to the start of phase 2.
The preliminary plans for Phase 2 include approximately 100,000 feet of rotary drilling and 8000 feet of core drilling to outline uranium mineral inventory/resources. Preliminary base-line environmental surveys and in-situ leach (ISL) tests should be initiated at this stage.
Henry Mountains:
The Henry Mountains Project was acquired as Trigon’s second uranium exploration and development acquisition. Trigon controls 1398 claims and three state leases in the Henry Mountains covering more than 30,600 acres. The property consists of two claim blocks, Henry North (8056 acres) and Henry South (22,556 acres). The Henry South block adjoins the western limit of Denison Mines Corp.’s Bullfrog Property, which hosts the Indian Bench, Copper Bench, and Southwest deposits. East of the southern portion of the Henry South block is the Tony M mine. Between Tony M and the Bullfrog properties there are reportedly 24 Million pound U3O8 at an average grade of 0.22% within 4.7 kilometers of Henry South. The company believes that the Henry Mountains Project has tremendous development potential.
The objective will be confirming that uranium mineralization continues onto Trigon’s property, holes will be drilled in closely spaced patterns focusing in two main areas on the property. The drill hole patterns are designed to maximize the likelihood of intersecting mineralization along the trend of the neighboring uranium deposits. All the drill holes will be gamma-logged for equivalent uranium content, and samples of drill cuttings will be taken for chemical assay of uranium.
The program will be carried out by Trigon field geologists under the direction of Mr. B.L. Berman, CPG, Technical Advisor to the company with over 20 years of uranium experience. Drilling will be carried out by Diversified Drilling of Missoula, Montana. Gamma logging of the drill holes will be performed by Century Geophysical Corp. of Tulsa, Oklahoma.
Trigon’s exploration and development property in the Henry Mountains uranium district is located in a highly prospective area centered 15 kilometers north of Uranium One’s Shootaring Canyon uranium mill at Ticaboo. The known uranium deposits adjacent to Trigon’s property reportedly host more than 20 Million lbs of U3O8. These deposits form elongate, largely continuous trends and Trigon considers the potential for further discoveries in the area to be excellent.
There could also be enough secondary V205(vanadium pentoxide) mineral credits that could offset the some of the costs of mining. |
