Post by Zoinkers on Jun 23, 2006 14:25:26 GMT -5
Press Release Source: Magnum Uranium Corp.
Magnum Identifies Significant Radiometric Anomaly at Turnercrest
Wednesday June 7, 10:10 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 7, 2006) - Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM - News) is pleased to announce that its wholly owned subsidiary, Magnum Minerals USA Corp., has delineated a significant and sizeable surface radiometric anomaly at its Turnercrest ("Turnercrest") uranium property in Converse and Campbell Counties, Wyoming. Turnercrest covers a 1.5-mile long trend of shallow, near-surface uranium mineralization that lies directly along the "old rose" alteration line, or redox boundary, which extends a distance of approximately 70 miles from the Pumpkin Buttes Uranium District southward to the Highland Uranium Mine - Box Creek District north of Douglas, Wyoming in the Powder River Basin (see Magnum's press release dated March 28, 2006 for further information).
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Results of the survey reveal a sizeable and continuous 3,500-foot long, northeast-trending zone of anomalous radioactivity that extends from the North Pit area (historic Powder River Minerals pit area) southwestward to the Middle Pit area (historic Key claims area). The Turnercrest anomaly was discovered while conducting a detailed ground scintillometer survey over prospective areas along the known 1.5-mile long trend of mineralization. Readings were taken at stations 50 meters apart along survey lines spaced every 50 meters. The anomaly is defined by radiometric readings that range from 3 times to 10 times normal background values of 100 to 150 counts per second, with higher, widespread readings found in and around the North Pit area. The anomaly has an average width of 500-feet in the Middle Pit area and broadens to an average width of 1,750-feet in the North Pit area.
The entire anomaly, defined by its high, consistent radiometric readings and continuity and links the North and Middle Pit areas, represents a sizeable, high-quality uranium exploration target for Magnum. This target contains significant untested potential for extensive shallow uranium mineralization in the Eocene Wasatch Formation, as well as for deeper, stacked mineralization in underlying sandstones of the Paleocene Fort Union Formation. Fieldwork is ongoing, and an exploration drill program is in the planning phases.
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. For further information, including property locations, visit Magnum's website at www.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.
The TSX Venture Exchange has neither approved or dissaproved of the contents herein.
Contact:
Craig T. Lindsay
Magnum Uranium Corp.
President & CEO
(604) 683-2507
(604) 683-2506 (FAX)
info@magnumuranium.com
www.magnumuranium.com
--------------------------------------------------------------------------------
Source: Magnum Uranium Corp.
Magnum Identifies Significant Radiometric Anomaly at Turnercrest
Wednesday June 7, 10:10 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 7, 2006) - Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM - News) is pleased to announce that its wholly owned subsidiary, Magnum Minerals USA Corp., has delineated a significant and sizeable surface radiometric anomaly at its Turnercrest ("Turnercrest") uranium property in Converse and Campbell Counties, Wyoming. Turnercrest covers a 1.5-mile long trend of shallow, near-surface uranium mineralization that lies directly along the "old rose" alteration line, or redox boundary, which extends a distance of approximately 70 miles from the Pumpkin Buttes Uranium District southward to the Highland Uranium Mine - Box Creek District north of Douglas, Wyoming in the Powder River Basin (see Magnum's press release dated March 28, 2006 for further information).
ADVERTISEMENT
Results of the survey reveal a sizeable and continuous 3,500-foot long, northeast-trending zone of anomalous radioactivity that extends from the North Pit area (historic Powder River Minerals pit area) southwestward to the Middle Pit area (historic Key claims area). The Turnercrest anomaly was discovered while conducting a detailed ground scintillometer survey over prospective areas along the known 1.5-mile long trend of mineralization. Readings were taken at stations 50 meters apart along survey lines spaced every 50 meters. The anomaly is defined by radiometric readings that range from 3 times to 10 times normal background values of 100 to 150 counts per second, with higher, widespread readings found in and around the North Pit area. The anomaly has an average width of 500-feet in the Middle Pit area and broadens to an average width of 1,750-feet in the North Pit area.
The entire anomaly, defined by its high, consistent radiometric readings and continuity and links the North and Middle Pit areas, represents a sizeable, high-quality uranium exploration target for Magnum. This target contains significant untested potential for extensive shallow uranium mineralization in the Eocene Wasatch Formation, as well as for deeper, stacked mineralization in underlying sandstones of the Paleocene Fort Union Formation. Fieldwork is ongoing, and an exploration drill program is in the planning phases.
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. For further information, including property locations, visit Magnum's website at www.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.
The TSX Venture Exchange has neither approved or dissaproved of the contents herein.
Contact:
Craig T. Lindsay
Magnum Uranium Corp.
President & CEO
(604) 683-2507
(604) 683-2506 (FAX)
info@magnumuranium.com
www.magnumuranium.com
--------------------------------------------------------------------------------
Source: Magnum Uranium Corp.