Owner
Post by Franko10 ™ on Jan 25, 2006 18:03:25 GMT -5
Magnum Uranium Corp. Acquires Brooks Minerals Company Uranium Property Database (ccnm)
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 25, 2006) - Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM) is pleased to announce that its wholly owned subsidiary, Magnum Minerals USA Corp., has acquired the Brooks Minerals Company uranium property database via a competitive bidding process. The Brooks database was developed over a 40-year time span and includes files containing geological evaluations, various drilling records/logs, and resource estimates for nearly 200 uranium properties located throughout the United States and Canada.
Included in the database and of particular interest to Magnum are files containing detailed information pertaining to its Cedar Mountain Uranium Project, Emery County, Utah (see Magnum press release dated November 17, 2005 for further information concerning the Cedar Mountain Uranium Project). Included in these files are Kerr-McGee drill logs from 1973, a detailed 1973 resource estimate and corresponding geological cross sections by A.R. Still, P. Geo., and a 1976 positive feasibility and open-pit mine planning report by Mullen Mining.
This newly acquired data indicates the presence of a drill-defined 2.0 million pound uranium resource at a grade of 0.052% U3O8 that lies 40 to 160 feet below the surface of Cedar Mountain mesa. Mineralized drill-hole intercepts up to 68.5-feet thick help to further define the resource. Results of the drilling also show that the deposit remains open in numerous directions. Drill log information further reveals that the deposit lies just below the water table, which exists at depths of 30 to 50 feet, supporting the possibility of ISL uranium recovery methods. Although considered relevant, the reader is cautioned that this potential resource estimate does not comply with the guidelines of National Instrument 43-101 and Magnum is not treating it as such. John R. Carden, Ph.D. L.G., a qualified person in accordance with National Instrument 43-101, supervised the preparation of the technical information in this release.
The Company
Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, the Company's primary property holdings are located in the Athabasca Basin, Saskatchewan, Canada and in the Western United States, specifically Wyoming, Utah, Idaho, and Washington.
ON BEHALF OF THE BOARD
Craig T. Lindsay, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Magnum Uranium Corp.
Craig T. Lindsay
President & CEO
(604) 683-2507
(604) 683-2506 (FAX)
info@magnumuranium.com
www.magnumuranium.com
The TSX Venture Exchange has neither approved or dissaproved of the contents herein.
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 25, 2006) - Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM) is pleased to announce that its wholly owned subsidiary, Magnum Minerals USA Corp., has acquired the Brooks Minerals Company uranium property database via a competitive bidding process. The Brooks database was developed over a 40-year time span and includes files containing geological evaluations, various drilling records/logs, and resource estimates for nearly 200 uranium properties located throughout the United States and Canada.
Included in the database and of particular interest to Magnum are files containing detailed information pertaining to its Cedar Mountain Uranium Project, Emery County, Utah (see Magnum press release dated November 17, 2005 for further information concerning the Cedar Mountain Uranium Project). Included in these files are Kerr-McGee drill logs from 1973, a detailed 1973 resource estimate and corresponding geological cross sections by A.R. Still, P. Geo., and a 1976 positive feasibility and open-pit mine planning report by Mullen Mining.
This newly acquired data indicates the presence of a drill-defined 2.0 million pound uranium resource at a grade of 0.052% U3O8 that lies 40 to 160 feet below the surface of Cedar Mountain mesa. Mineralized drill-hole intercepts up to 68.5-feet thick help to further define the resource. Results of the drilling also show that the deposit remains open in numerous directions. Drill log information further reveals that the deposit lies just below the water table, which exists at depths of 30 to 50 feet, supporting the possibility of ISL uranium recovery methods. Although considered relevant, the reader is cautioned that this potential resource estimate does not comply with the guidelines of National Instrument 43-101 and Magnum is not treating it as such. John R. Carden, Ph.D. L.G., a qualified person in accordance with National Instrument 43-101, supervised the preparation of the technical information in this release.
The Company
Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, the Company's primary property holdings are located in the Athabasca Basin, Saskatchewan, Canada and in the Western United States, specifically Wyoming, Utah, Idaho, and Washington.
ON BEHALF OF THE BOARD
Craig T. Lindsay, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Magnum Uranium Corp.
Craig T. Lindsay
President & CEO
(604) 683-2507
(604) 683-2506 (FAX)
info@magnumuranium.com
www.magnumuranium.com
The TSX Venture Exchange has neither approved or dissaproved of the contents herein.
