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Post by Franko10 ™ on May 3, 2006 16:21:28 GMT -5
Magnum Uranium Corp.: Athabasca Exploration Program Update (ccnm)
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 3, 2006) - Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM) is pleased to announce that it has executed a contract with Fugro Airborne Surveys to conduct a comprehensive airborne geophysical survey over its 100%-owned property in the Athabasca Basin, Canada. The survey will consist of a 5,000 line-kilometre, deep penetrating, electromagnetic (EM) survey, utilizing Fugro's proprietary MEGATEM II system. The objective of the survey is to identify conductive graphitic sediments that are spatially associated with geologic structures and uranium mineralization. Subject to favourable weather conditions, the commencement of the survey is anticipated within the next two weeks, and will take approximately 15 days to complete.
Stratagex Ltd. has been retained by Magnum to design and manage the electromagnetic survey.
Fugro's MEGATEM II system is a deep penetrating, high-resolution electromagnetic and magnetic geophysical system capable of identifying basement conductors that are key elements associated with world-class, high-grade, unconformity related uranium deposits such as Cameco Corporation's McArthur River and Cigar Lake mines in the Athabasca Basin.
The MEGATEM II survey will cover the majority of Magnum's Athabasca property, a large area comprising over 416,000 acres. Developed in 2001, MEGATEM II is superior to survey systems used during the last major uranium exploration boom in the 1970's as it can detect conductors considerably deeper in the earth and at much higher resolution. Conductors defined by the survey program will provide targets for follow-up radiometric surveys, ground exploration and drilling.
Dr. John Carden, Ph.D. 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 quality control of exploration undertaken by Magnum Uranium Corp.
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. For further information, including property locations, visit Magnum's website at www.magnumuranium.com.
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
The TSX Venture Exchange has neither approved or disapproved of the contents herein.
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 3, 2006) - Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM) is pleased to announce that it has executed a contract with Fugro Airborne Surveys to conduct a comprehensive airborne geophysical survey over its 100%-owned property in the Athabasca Basin, Canada. The survey will consist of a 5,000 line-kilometre, deep penetrating, electromagnetic (EM) survey, utilizing Fugro's proprietary MEGATEM II system. The objective of the survey is to identify conductive graphitic sediments that are spatially associated with geologic structures and uranium mineralization. Subject to favourable weather conditions, the commencement of the survey is anticipated within the next two weeks, and will take approximately 15 days to complete.
Stratagex Ltd. has been retained by Magnum to design and manage the electromagnetic survey.
Fugro's MEGATEM II system is a deep penetrating, high-resolution electromagnetic and magnetic geophysical system capable of identifying basement conductors that are key elements associated with world-class, high-grade, unconformity related uranium deposits such as Cameco Corporation's McArthur River and Cigar Lake mines in the Athabasca Basin.
The MEGATEM II survey will cover the majority of Magnum's Athabasca property, a large area comprising over 416,000 acres. Developed in 2001, MEGATEM II is superior to survey systems used during the last major uranium exploration boom in the 1970's as it can detect conductors considerably deeper in the earth and at much higher resolution. Conductors defined by the survey program will provide targets for follow-up radiometric surveys, ground exploration and drilling.
Dr. John Carden, Ph.D. 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 quality control of exploration undertaken by Magnum Uranium Corp.
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. For further information, including property locations, visit Magnum's website at www.magnumuranium.com.
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
The TSX Venture Exchange has neither approved or disapproved of the contents herein.
