Owner
Post by Franko10 ™ on Apr 20, 2006 15:04:31 GMT -5
Magnum Provides Exploration Update on U.S. Properties
09:00 EDT Thursday, April 20, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 20, 2006) - Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM) is pleased to provide an overview of planned development activities at its priority projects in Idaho, Utah and Wyoming.
Stanley Uranium District Project: This project is comprised of 129 federal mining claims in Custer County, Idaho. The property has produced historically from five open pits and one underground mine having an average production grade of 0.18% U3O8. Known mineralization at Stanley is within surface and 80 feet. Magnum is the first operator to approach Stanley as a single district.
A helicopter-supported airborne radiometric, magnetic and electromagnetic survey over the entire property is planned for June 2006. The survey will encompass approximately 290 line kilometers and will be flown at 100 meter flight line intervals in a northeast-southwest direction, normal to the favorable trend of the district's sandstone-hosted uranium mineralization.
Additionally, Magnum will complete a detailed evaluation of the Big Hank uranium target. This work will include geological mapping and the establishment of a grid over the target to conduct track-etch and hand-held ground scintillometer surveys. Results of these surveys will be used to target and direct an initial 5,000 foot drill program, with drilling planned for the Big Hank in September 2006 (subject to receipt of requisite permitting). The Big Hank work program will test the geologic model that Magnum geologists feel exist throughout the Stanley Uranium District.
Cedar Mountain Uranium Project: This project comprises one State lease and 61 federal mining claims located in Emery County, Utah having a historic resource of 2.2 million lbs U3O8 (non NI 43-101 compliant) grading 0.06% U3O8 that remains open in all directions and exists at depths of between 45 and 150 feet. Magnum geologists are developing a drill pattern designed to test and expand upon the known mineralization, re-establish historic drill hole locations in the field and establish locations for new drill holes. Upon expected completion in June, Magnum will initiate the process for permitting this year's planned 5,000 foot drill program.
Lye Uranium Project: This project comprises 29 federal mining claims located in Fremont County, Wyoming containing historic resource (non NI 43-101 compliant) of 0.5 million lbs U3O8 amenable to open-pit extraction. Magnum is currently permitting the project for a 48 hole reverse circulation drill program to test the open-ended strike extensions and partially open lateral projections of known, shallow (surface to 60 feet) uranium mineralization. The drilling will also be conducted to address the possibility of uranium disequilibrium, the results of which could prove to enhance the overall grade and contained uranium of the deposit. The preparation of a Notice of Operations is in process and will be submitted to the Bureau of Land Management within 30 days. Drilling will commence upon receipt of all necessary approvals.
Turnercrest Uranium Project: The property is located in Converse and Campbell Counties, Wyoming, and covers a 1.5 mile long trend of shallow, near surface uranium mineralization that includes the historic North American Key, Sundance Betty, Little Betty and Powder River Minerals mines, all of which produced uranium between 1955 and 1956. The Turnercrest property is located 29 miles from Cameco's Smith Ranch Property (the largest operating uranium production facility in the United States with reserves totaling 16.1 million pounds of U3O8).
Detailed surface geologic work is slated to begin at Turnercrest in early May. Detailed geological mapping, geochemical sampling, and hand-held scintillometer surveys will be conducted to evaluate the property's surface extent. This work is being conducted with the primary intent of defining targets for future drilling. A surface use agreement is being finalized with private landowners concerning the property and an additional contract geologist has been hired to carry out the geologic field work.
Dr. John Carden, Phd, P.Geo., a Director and Senior Geologist for Magnum Uranium Corp., is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Magnum Uranium Corp. For further information, including property locations, visit Magnum's website at wwww.magnumuranium.com.
The Company
Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, Magnum's primary property holdings are located in the Western United States, specifically Wyoming, Utah, Idaho, and Washington, and in Canada's Athabasca Basin.
ON BEHALF OF THE BOARD
Craig T. Lindsay, President & CEO
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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
09:00 EDT Thursday, April 20, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 20, 2006) - Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM) is pleased to provide an overview of planned development activities at its priority projects in Idaho, Utah and Wyoming.
Stanley Uranium District Project: This project is comprised of 129 federal mining claims in Custer County, Idaho. The property has produced historically from five open pits and one underground mine having an average production grade of 0.18% U3O8. Known mineralization at Stanley is within surface and 80 feet. Magnum is the first operator to approach Stanley as a single district.
A helicopter-supported airborne radiometric, magnetic and electromagnetic survey over the entire property is planned for June 2006. The survey will encompass approximately 290 line kilometers and will be flown at 100 meter flight line intervals in a northeast-southwest direction, normal to the favorable trend of the district's sandstone-hosted uranium mineralization.
Additionally, Magnum will complete a detailed evaluation of the Big Hank uranium target. This work will include geological mapping and the establishment of a grid over the target to conduct track-etch and hand-held ground scintillometer surveys. Results of these surveys will be used to target and direct an initial 5,000 foot drill program, with drilling planned for the Big Hank in September 2006 (subject to receipt of requisite permitting). The Big Hank work program will test the geologic model that Magnum geologists feel exist throughout the Stanley Uranium District.
Cedar Mountain Uranium Project: This project comprises one State lease and 61 federal mining claims located in Emery County, Utah having a historic resource of 2.2 million lbs U3O8 (non NI 43-101 compliant) grading 0.06% U3O8 that remains open in all directions and exists at depths of between 45 and 150 feet. Magnum geologists are developing a drill pattern designed to test and expand upon the known mineralization, re-establish historic drill hole locations in the field and establish locations for new drill holes. Upon expected completion in June, Magnum will initiate the process for permitting this year's planned 5,000 foot drill program.
Lye Uranium Project: This project comprises 29 federal mining claims located in Fremont County, Wyoming containing historic resource (non NI 43-101 compliant) of 0.5 million lbs U3O8 amenable to open-pit extraction. Magnum is currently permitting the project for a 48 hole reverse circulation drill program to test the open-ended strike extensions and partially open lateral projections of known, shallow (surface to 60 feet) uranium mineralization. The drilling will also be conducted to address the possibility of uranium disequilibrium, the results of which could prove to enhance the overall grade and contained uranium of the deposit. The preparation of a Notice of Operations is in process and will be submitted to the Bureau of Land Management within 30 days. Drilling will commence upon receipt of all necessary approvals.
Turnercrest Uranium Project: The property is located in Converse and Campbell Counties, Wyoming, and covers a 1.5 mile long trend of shallow, near surface uranium mineralization that includes the historic North American Key, Sundance Betty, Little Betty and Powder River Minerals mines, all of which produced uranium between 1955 and 1956. The Turnercrest property is located 29 miles from Cameco's Smith Ranch Property (the largest operating uranium production facility in the United States with reserves totaling 16.1 million pounds of U3O8).
Detailed surface geologic work is slated to begin at Turnercrest in early May. Detailed geological mapping, geochemical sampling, and hand-held scintillometer surveys will be conducted to evaluate the property's surface extent. This work is being conducted with the primary intent of defining targets for future drilling. A surface use agreement is being finalized with private landowners concerning the property and an additional contract geologist has been hired to carry out the geologic field work.
Dr. John Carden, Phd, P.Geo., a Director and Senior Geologist for Magnum Uranium Corp., is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Magnum Uranium Corp. For further information, including property locations, visit Magnum's website at wwww.magnumuranium.com.
The Company
Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, Magnum's primary property holdings are located in the Western United States, specifically Wyoming, Utah, Idaho, and Washington, and in Canada's Athabasca Basin.
ON BEHALF OF THE BOARD
Craig T. Lindsay, President & CEO
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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
