- Published: 25 September 2008
- Written by Editor
Quest Uranium Returns up to 25.4% U3O8 on James Bay Area Uranium Option Properties, Quebec
- Prospectors have discovered high U3O8 grades of between 2.3% - 25.4% from grab sampling of newly-discovered mineralized boulders and in historical trenches on Quest's Sannon-Seggau option property in the LG4 reservoir area - Earlier-completed airborne geophysical surveys in the area show the occurrence to be associated with a two-kilometre long radiometric anomaly - Prospectors recently completed follow-up evaluation of this and other occurrences on Quest's option properties in the area, with additional favourable results
Quest Uranium Corporation ("Quest") (TSX VENTURE: QUC) and exploration partner Midland Exploration Inc. ("Midland") (TSX VENTURE: MD) are pleased to announce that recent prospecting over their Sannon-Seggau properties, James Bay area, Quebec, have returned high uranium grades of up to 25.41% U3O8 from grab sampling of newly-discovered uraniferous boulders and from historical trenches observed on their claims (see Table 1).
Additional sampling from the area is currently in the lab and will be reported on soon. The option properties, which include the Sannon-Seggau ground, cover four claim blocks (320 claims) comprising 16,224.2 hectares (ha) in the Sakami Lake area of northwestern Quebec (see Figure 1). The project area is readily accessible using Hydro Quebec's James Bay Hydroelectric Installation all-weather road infrastructure.
"Our preliminary work was very successful in confirming the high-grade nature of mineralization in the James Bay area as well as the viability of the Saskatchewan-type unconformity mineralization model to historical occurrences in the area," said Peter J. Cashin, Quest's President and CEO. "Additional high-level interpretation of our airborne geophysical data has been contracted out with the goal of identifying high-potential uranium targets for winter diamond drilling."
Prospectors were guided using Quest's airborne geophysical survey data which was acquired in early July. The survey was completed for Quest by EON Geosciences of Pierrefonds, Quebec (see Press Release: May 8, 2008) and included a total of 1,953 line-km of high-resolution radiometric, magnetic and electromagnetic surveys in the LG3 and LG4 reservoir areas. A final report and maps for the survey work are expected this month.
The Sannon-Seggau claims are considered to be highly prospective for unconformity-related uranium deposits and cover approximately 6.5 km strike length of favourable Sakami unconformity (see Figure 2). When combined with Quest's recent property acquisition in the LG4 area (see Press Release: August 22, 2008), Quest and Midland now control more than 9 km of favourable geology in the area.
Table 1 - Significant Grab U3O8 Assays from LG4 Property Exploration Work,
James Bay Option Project, Quebec
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Sample # Easting Northing U3O8(%)(1) Sample Description Occurrence
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201205 600943 5984604 25.41 Historical trench in Sannon area
(508.2 lbs/ton) bedrock highly-
mineralized
sedimentary rock.
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201208 600949 5984602 3.17 Mineralized sediment- Sannon area
(63.4 lbs/ton) basement gneiss
contact in trench.
Minor galena
mineralization
observed.
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201211 600949 5984600 6.39 Mineralized, altered Sannon area
(127.8 lbs/ton) sediment in trench.
Highly hematite
altered.
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201212 600953 5984596 2.25 Highly-mineralized Sannon area
(45.0 lbs/ton) silicified sediment.
Uranophane stained.
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201034 600913 5984656 24.36 Highly-mineralized Sannon area
(487.2 lbs/ton) sedimentary boulder.
Strong uranophane
staining.
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201036 600952 5984601 2.36 Highly-mineralized Sannon area
(47.2 lbs/ton) sediment basement
gneiss contact
in trench.
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(1) Assays performed by Actlabs of Ancaster, Ontario using the Delayed
Neutron Count Method (DNC) with a Titration finish
Quest prospectors arrived on the property area on August 24 to complete ground evaluation of the target areas and to locate areas of new mineralization. Additional radioactive targets identified in the Ganiq (LG3) area confirmed the historical Lac Rojean boulder field discovered by S.E.S. Mining Group in the mid-1970's (100 metre-long boulder field returning up to 7,000 counts per second - cps) and identified a new boulder field to the north of Rojean returning spectrometer readings of up to 25,000 cps. In addition, a radioactive quartz pebble conglomerate unit in bedrock was identified west of the Rojean area and traced over a minimum strike length 600 m. Follow-up work is being considered, pending favourable assay results from these areas by the lab. Compilation of the fall exploration data is currently underway.
Quest-Midland Option Property Area Geology and Mineralization
The area is underlain by Archean-aged basement rocks, unconformably overlain by Proterozoic age Sakami Formation sedimentary rocks. Known uranium resources in the region (i.e. - Lac Gayot (Dieter Lake) Deposit; 43-101 Resource Estimate, Strathmore Minerals Corp. Report on 2005 Exploration, Nov. 2005 - 24 million pounds U3O8) occur at, above or below the unconformity and show strong geological similarities with the Athabasca Basin in northern Saskatchewan.
Known historical occurrences in the area include the Sannon showing in the northeastern part of the Sannon-Seggau claim block, which straddles an area in which previous operators (S.E.S. Mining Group) discovered more than 47 radioactive boulders over a strike length of greater than 2 km. Analytical results reported by S.E.S Mining ranging from 1% to 2% U3O8 (with associated anomalous nickel values) were obtained in its prospecting work. S.E.S. concluded that the uranium-nickel association observed at Sannon is significant and may correspond to post-mineralization processes commonly observed in the Athabasca basin. In addition, bedrock mineralization situated to the east of the boulder train, known as the Sannon uranium vein, returned grab assay values up to 6.28% U3O8. Chip sampling across the vein returned 7.4% U3O8 over 0.36 m and 4.0% U3O8 over 0.175 m. The boulder train and Sannon vein are located on the northern side of the LG4 basin near the base of the Sakami Formation.
The Kuljit occurrence, at the southern part of the claims, is characterized by an extensive northwest-trending uranium mineralized shear structure that is observed to undercut the younger Sakami sedimentary rocks further to the south.
Terms of the Exploration Agreement
Under the terms of the agreement with Midland, Quest has an option to acquire a 50% undivided interest in all of Midland's properties in the James Bay region, subject to an area-of-interest, under the following conditions:
- Cash payments of $200,000 over four years; and
- Exploration expenditures of $2,400,000 over four years, including $300,000 in year one
Quest Uranium will be the project operator until they earn into their 50% interest in the properties.
Quality Control
Don Hoy, P.Geo., is the qualified person who has reviewed the content of this news release. Material for analysis has been obtained from grab samples from outcrop and boulders. A strict QA/QC program is followed which includes uranium standards and duplicates. Analyses are being performed by Activation Laboratory Limited of Ancaster, Ontario.
About Quest Uranium
Quest Uranium Corporation is a Canadian-based, pure-uranium exploration company focused on the identification and discovery of new world-class Uranium deposit opportunities. The company is publicly-listed on the TSX Venture Exchange as "QUC" and is led by a highly-respected management and technical team with a proven mine-finding track record. Quest is currently advancing several high-potential projects in Canada's Premier Uranium exploration areas: the George River belt of northeastern Quebec, the Kenora area of northwestern Ontario and the Plaster Rock area of northwestern New Brunswick. Quest also has a clear route to 50% ownership of a large uranium property in the James Bay area, Quebec under option from Midland Exploration Inc. Quest recently optioned its Nanuk and Stewart Lake properties in the George River area to Nebu Resources Inc., wherein Nebu is committed to spend $1 million in exploration on the properties in 2008 and $3.0 million over the next three years. Quest continues to identify new, high-potential project opportunities throughout North America.
About Midland Exploration
Midland targets the excellent mineral potential and the favourable investment climate of Quebec to make the discovery of new world-class deposits of gold, base metals and uranium. Two drill programs were recently completed on Maritime Cadillac and Weedon projects and results and assays are pending. Midland is proud to count on reputable partners such as Agnico-Eagle Mines Limited, Soquem Inc. and Quest Uranium Corporation. Midland prefers to work in partnership and intends to conclude quickly additional agreements in regard to lately acquired properties. Midland is currently evaluating other opportunities and other projects in order to increase the portfolio of the Company. This press release may contain "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements".
To view Figure 1 and Figure 2, please visit the following link: http://media3.marketwire.com/docs/quc925map.pdf
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Contacts: Quest Uranium Corporation Peter J. Cashin President & CEO (416) 916-0777 or Toll Free: 1-887-916-0777 (416) 916-0779 (FAX) Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.questuranium.com
SOURCE: Quest Uranium Corporation
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