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Post by Franko10 ™ on Sept 11, 2004 13:53:46 GMT -5
International Uranium Corporation: Encouraging Results From Initial Drill Program at Shiveen Gol Copper/Gold Target, Mongolia
10:06 EST Thursday, December 04, 2003
VANCOUVER, BRITISH COLUMBIA--International Uranium Corporation (the "Company") is pleased to report encouraging results from the Company's initial drill program at the Shiveen Gol target in western Mongolia. A total of 3,200 metres in 16 holes were completed on five targets in the Shiveen Gol intrusive complex. To see attached map please click on the following link: www2.cdn-news.com/database/fax/2000/iuc1204.jpg.
The Shiveen Gol intrusive complex in the Tsagaan Tolgoi Project Area was the primary focus of the Company's initial drilling. Targets tested included Cu-Ag-Au vein systems, IP anomalies with surficial exposures of strong alteration and favorable geochemistry indicative of porphyry systems, and an Iron-Oxide Copper Gold ("IOCG") target referred to as the "Northwest IOCG Zone." Initial mapping at 1:25,000, ground magnetics and IP surveys, along with extensive geochemical sampling, identified the Northwest IOCG Zone, which exhibits alteration characteristics, geophysical signatures, and surface copper and gold anomalies potentially indicative of IOCG-style mineralization.
Within the Northwest IOCG Zone is a northeast trending 1.6 km by 600 m sector of strongly anomalous copper shows. Rock chip samples from this zone returned several assays in excess of 1% Cu, with a maximum of 4.7% Cu. The anomalous copper is associated with a major IP chargeability anomaly with dimensions of 1,600 x 2,000m, as well as biotite-magnetite-albite- Kfeldspar alteration and extensive breccias.
Core hole SGDD-15, the second of three holes drilled in the Northwest IOCG Zone, returned a continuous intercept of covellite-bearing mineralization 33m in length averaging 0.23% Cu, starting 48 m below the surface. Drilling on the Northwest IOCG Zone was suspended midway through the third hole due to mechanical problems with the drill rig and onset of winter. The initial drill results from the Northwest IOCG Zone are encouraging in combination with the widespread alteration typical of a magnetite facies IOCG system. The limited initial drilling encountered extensive brecciation, intense structural preparation, and abundant biotite, magnetite, albite, and K-feldspar with anomalous copper. Drilling on the Northwest IOCG Zone is slated to resume in spring, 2004.
In addition, the company drilled six holes in the polymetallic Central Zone vein system at Shiveen Gol, where mineralization up to 2m thick assaying 3.7% Cu and 129 g/t Ag was intersected. Along the 10 km Central Zone vein system, and proximal to the Northwest IOCG Zone, are two geophysical anomalies associated with porphyry-style alteration; these anomalies are yet to be tested by drilling.
Significant thicknesses of mineralization on other targets in the Shiveen Gol complex were not encountered in this initial drill program, however, favorable lithologies, intense alteration, pervasive sulfidization, and excellent structural preparation were observed and highlight the favorable environment at the large Shiveen Gol complex. Shiveen Gol is one of several copper anomalies within the Tsagaan Tolgoi regional Project, where the Company owns 423,000 hectares of exploration licenses and has an option on another 45,000 hectares. Data compilation and analysis are underway on the Shiveen Gol project, as well as on a number of other prospects identified on Company exploration licenses in Mongolia. The Company plans to advance a number of precious and base metals prospects to drill-ready targets in 2004.
Drill Core was prepared and assayed by Analabs (a subsidiary of SGS Laboratories) in Ulaanbaatar. Samples were prepared by Analabs, after which either ALS Chemex or Acme Labs (in Vancouver) assayed the pulps. The Company's Qualified Person under National Instrument 43-101 is Peter Drobeck (M.Sc.) a registered geologist in Arizona and a member of the Society of Economic Geologists, S.M.E. and the Geological Society of America.
ON BEHALF OF THE BOARD
Ron F. Hochstein, President
FOR FURTHER INFORMATION PLEASE CONTACT:
International Uranium Corporation
Sophia Shane
Corporate Development
(604) 689-7842
Website: www.intluranium.com
10:06 EST Thursday, December 04, 2003
VANCOUVER, BRITISH COLUMBIA--International Uranium Corporation (the "Company") is pleased to report encouraging results from the Company's initial drill program at the Shiveen Gol target in western Mongolia. A total of 3,200 metres in 16 holes were completed on five targets in the Shiveen Gol intrusive complex. To see attached map please click on the following link: www2.cdn-news.com/database/fax/2000/iuc1204.jpg.
The Shiveen Gol intrusive complex in the Tsagaan Tolgoi Project Area was the primary focus of the Company's initial drilling. Targets tested included Cu-Ag-Au vein systems, IP anomalies with surficial exposures of strong alteration and favorable geochemistry indicative of porphyry systems, and an Iron-Oxide Copper Gold ("IOCG") target referred to as the "Northwest IOCG Zone." Initial mapping at 1:25,000, ground magnetics and IP surveys, along with extensive geochemical sampling, identified the Northwest IOCG Zone, which exhibits alteration characteristics, geophysical signatures, and surface copper and gold anomalies potentially indicative of IOCG-style mineralization.
Within the Northwest IOCG Zone is a northeast trending 1.6 km by 600 m sector of strongly anomalous copper shows. Rock chip samples from this zone returned several assays in excess of 1% Cu, with a maximum of 4.7% Cu. The anomalous copper is associated with a major IP chargeability anomaly with dimensions of 1,600 x 2,000m, as well as biotite-magnetite-albite- Kfeldspar alteration and extensive breccias.
Core hole SGDD-15, the second of three holes drilled in the Northwest IOCG Zone, returned a continuous intercept of covellite-bearing mineralization 33m in length averaging 0.23% Cu, starting 48 m below the surface. Drilling on the Northwest IOCG Zone was suspended midway through the third hole due to mechanical problems with the drill rig and onset of winter. The initial drill results from the Northwest IOCG Zone are encouraging in combination with the widespread alteration typical of a magnetite facies IOCG system. The limited initial drilling encountered extensive brecciation, intense structural preparation, and abundant biotite, magnetite, albite, and K-feldspar with anomalous copper. Drilling on the Northwest IOCG Zone is slated to resume in spring, 2004.
In addition, the company drilled six holes in the polymetallic Central Zone vein system at Shiveen Gol, where mineralization up to 2m thick assaying 3.7% Cu and 129 g/t Ag was intersected. Along the 10 km Central Zone vein system, and proximal to the Northwest IOCG Zone, are two geophysical anomalies associated with porphyry-style alteration; these anomalies are yet to be tested by drilling.
Significant thicknesses of mineralization on other targets in the Shiveen Gol complex were not encountered in this initial drill program, however, favorable lithologies, intense alteration, pervasive sulfidization, and excellent structural preparation were observed and highlight the favorable environment at the large Shiveen Gol complex. Shiveen Gol is one of several copper anomalies within the Tsagaan Tolgoi regional Project, where the Company owns 423,000 hectares of exploration licenses and has an option on another 45,000 hectares. Data compilation and analysis are underway on the Shiveen Gol project, as well as on a number of other prospects identified on Company exploration licenses in Mongolia. The Company plans to advance a number of precious and base metals prospects to drill-ready targets in 2004.
Drill Core was prepared and assayed by Analabs (a subsidiary of SGS Laboratories) in Ulaanbaatar. Samples were prepared by Analabs, after which either ALS Chemex or Acme Labs (in Vancouver) assayed the pulps. The Company's Qualified Person under National Instrument 43-101 is Peter Drobeck (M.Sc.) a registered geologist in Arizona and a member of the Society of Economic Geologists, S.M.E. and the Geological Society of America.
ON BEHALF OF THE BOARD
Ron F. Hochstein, President
FOR FURTHER INFORMATION PLEASE CONTACT:
International Uranium Corporation
Sophia Shane
Corporate Development
(604) 689-7842
Website: www.intluranium.com
