2006-10-11 08:30 ET - News Release
Northwestern and Azimut rock sampling and airborne results point to new uranium district at North Rae, Quebec, Canada
TORONTO, Oct. 11 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. , as operator, and its partner Azimut Exploration Inc. are pleased to announce results from the rock sampling program and airborne geophysical survey for the North Rae uranium property in northern Quebec, Canada. Findings reveal the potential for a new uranium district. Grab rock samples have defined 10 open-ended uranium zones, and the airborne survey has identified 14 high-priority anomalies with strike lengths longer than 0.6 miles (one kilometer), including seven anomalies longer than 1.8 miles (three kilometers).
"These results, together with extensive uranium anomalies from the lake sediment survey, underscore North Rae\'s significant uranium potential," said Marek J. Kreczmer, President and CEO of Northwestern. "Furthermore, our findings to date support the strong possibility of additional mineralized sectors elsewhere on the property. We intend to integrate the results from the summer work program in the coming months to outline specific areas for continued exploration and targeted drilling."
Initial prospecting results include 17 rock samples (16 on outcrops and one boulder) that returned values higher than 0.05% U(3)O(8) (uranium oxide), with six samples registering values higher than 0.1% U(3)O(8). Peak values were 0.56%, 0.37% and 0.33% U(3)O(8). The 17 samples are spread widely across the property and form 10 uranium showings that remain open. Seven of these samples point to a 2.6-mile (4.3-kilometer) long trend. The presence of uraninite in two samples of pegmatite (0.56% and 0.13% U(3)O(8) respectively) was confirmed by microprobe analysis performed at Laval University in Quebec. Uranium mineralization at North Rae appears to be mainly hosted by pegmatitic, granitic and gneissic lithologies.
A total of 186 rock samples were collected and analyzed. In addition to the 17 samples discussed above, results included 41 rock samples (33 on outcrops and eight boulders) with values ranging from 0.01% to 0.05% U(3)O(8), and 128 rock samples with values lower than 0.01% U(3)O(8).
Preliminary findings from the airborne geophysical survey over North Rae further establish the property\'s uranium potential. Interpretation of airborne results, including 14 anomalies measuring more than 0.6 miles (one kilometer), is currently underway. Those results are being integrated with mapping, lake sediment and rock sampling data to further delineate the highest priority areas for a future drill program. The airborne survey consisted of 1,790 line miles (2,882 line kilometers) at a line spacing of 656 feet (200 meters).
Results from a lake sediment survey conducted at North Rae during the summer identified five strong and extensive uranium anomalies with a peak value of 1,320 parts per million uranium. This converts into a uranium oxide value of 0.16% U(3)O(8). The complete lake sediment results were announced in a press release issued on October 5, 2006.
An additional prospecting phase was recently completed and results are pending.
The North Rae Uranium Project consists of three blocks representing 701 claims, with a total area of 77,960 acres (31,550 hectares). Northwestern has the right to earn up to 65% ownership of North Rae from Azimut Exploration Inc., as announced in a press release dated March 6, 2006.
QUALITY ASSURANCE
The exploration work was conducted under the supervision of Rejean Girard, P.Geo., and Olivier Gerbeau, Ph.D., of independent consulting firm IOS Services Geoscientifiques Inc., of Chicoutimi, Quebec. The rock samples were sent to Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan for analysis and processing. SRC is an ISO-IEC 17025 accredited facility. Aeroquest International Ltd performed the airborne survey from August 27 to September 9, 2006. MPH Consulting Ltd. of Toronto is interpreting the results of this survey.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (
www.northwestmineral.com) is an international resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company\'s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Northwestern Mineral Ventures Inc.
CONTACT: Marek J. Kreczmer, M.Sc., P.Eng., President and CEO, (866)
437-9551,
info@northwestmineral.comNorthwestern and Azimut rock sampling and airborne results point to new uranium district at North Rae, Quebec, CanadaNorthwestern and Azimut rock sampling and airborne results point to new uranium district at North Rae, Quebec, Canada