- Prospectors have discovered new areas of uranium mineralization on the Nanuk property, forming part of a single, extensive zone measuring 50 to 500 metres wide and at least 2.0 kilometres in strike length
- A diamond drill has been mobilized to the area and drilling has commenced to test the continuity of the zone
- Three areas for 1,150 line km were surveyed with airborne radiometrics and magnetometer and the survey identified numerous geophysical anomalies which are being followed-up by prospecting crews
- Mapping, prospecting and line-cutting crews have been in the project area since mid-July to conduct advanced exploration of known uranium mineralized zones and to evaluate new, high-potential targets
TORONTO, ONTARIO--(Marketwire - Sept. 4, 2008) - Quest Uranium Corporation (TSX VENTURE:QUC) is pleased to announce that ground crews have identified a continuous zone of uranium mineralization on Quest's Nanuk property. The mineralized area has been traced continuously over a strike length in excess of 2.0 kilometres and over widths of 50 to 500 metres. A diamond drill has been mobilized to the area and drilling has commenced. Drilling will test the mineralization across the full width of the zone over a strike length of at least 650 metres. Early results from the diamond drilling show that the same textural and mineralogical features observed from surface mineralization are being found in drill core.
In addition, 1,150 line-km of helicopter-borne magnetometer and radiometric surveys completed over highly-prospective targets have identified significant, new uranium targets in the George River Belt area, Quebec. The surveying was undertaken by MPX Geophysics Inc. of Richmond Hill, Ontario, and covers three highly-prospective areas for uranium in the George River Belt. In addition, prospecting and geological-mapping crews are in the area to conduct exploration on Quest's property holdings and to evaluate new reconnaissance exploration targets. The area of exploration interest is located 175 kilometres (km) north-east of Schefferville, Quebec and 125 km west of the Voiseys Bay nickel-copper-cobalt deposit, currently being mined by Vale in Labrador (see Figure 1).
"We are extremely pleased with the progress that ground crews have made in defining the extent and geometry of the Nanuk mineralization." said Peter J. Cashin, Quest's President and CEO. "The mineralization is related to an extensive zone of multi-phase granite breccias flooded by silica, biotite and uranium. Crews continue to conduct prospecting and mapping to determine the ultimate extent of the mineralized areas."
Previous Exploration
Previous exploration work on the Stewart Lake and Nanuk properties returned extensive areas of in-situ uranium mineralization and uraniferous boulder dispersion trains. Prospecting over the Stewart Lake area returned up to 0.804% U3O8 (16.1 pounds per ton - lbs/ton) from locally-derived large boulders and outcrop. The area is associated with an extensive radiometric anomaly measuring up to 750 m wide by 4.0 km long. The Nanuk area work had identified four large areas of radioactivity and in-situ uranium mineralization (numbered 1 thru 4, see Figure 2) returning grades of up to 1.18% U3O8 (23.6 lbs/ton) measuring upwards of two km in length and in width. Airborne radiometric surveys completed by Quest over the target areas show very extensive and anomalous radioactivity.
2008 EXPLORATION PROGRAM
The 2008 exploration program consisted of geological mapping, prospecting and diamond drilling over targets throughout the George River Belt. The initial targets generated for prospecting consisted of a combination of airborne radiometric anomalies, uranium in-lake sediment anomalies, known radioactive occurrences and sulphide showings. In addition, advanced exploration is currently being undertaken with exploration partner Nebu Resources Inc. (TSX VENTURE:NBU) over the Stewart Lake and Nanuk properties (see Press Release: June 12, 2008). Nebu is committed to spending $1.0 million in exploration on these two properties during the 2008 exploration program and a total of $3.0 million over the next three years to earn a 50% interest in the ground.
Nanuk Property Results
The Nanuk Zone is a large area of uranium mineralization discovered in 2007. The uranium mineralization is hosted within leucogranites, intermingled with biotite gneisses that cover a surface area measuring 25 km2. The mineralization discovered on the property is associated with strong radiometric anomalies.
Table 1 - Significant U3O8 Assays from Previous Nanuk Property Exploration
Work, George River
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Sample # Easting Northing U3O8(%)(1) Sample Description Occurrence
---------------------------------------------------------------------------
362954 410929 6189981 0.286 outcrop of leucogranite Nanuk #1
(5.71 lbs/ton)
---------------------------------------------------------------------------
362748 410866 6189848 0.592 outcrop of leucogranite Nanuk #1
(11.85 lbs/ton)
---------------------------------------------------------------------------
361505 408953 6186058 0.670 outcrop of leucogranite Nanuk #2
(13.40 lbs/ton)
---------------------------------------------------------------------------
362618 409578 6187073 1.180 biotite-rich boulders Nanuk #2
(23.6 lbs/ton)
---------------------------------------------------------------------------
362778 411921 6185568 0.380 outcrop of leucogranite Nanuk #3
(7.6 lbs/ton)
---------------------------------------------------------------------------
(1)Assays performed by Actlabs of Ancaster, Ontario using the Delayed
Neutron Count Method (DNC)
A total of 450 line kilometres of gridding was completed over the Nanuk mineralized region and follow-up detailed prospecting and geological mapping has begun. Two new zones of uranium mineralization (Nanuk LK and Nanuk DC, see Figure 2) were discovered to the north of previously-defined mineralized areas. In-fill prospecting and mapping shows excellent continuity to the mineralization between the new Nanuk LK and Nanuk 1 zones and has been traced at surface over widths of between 50 and 500 metres. Good continuity of the uraniferous zone over a minimum strike length of 2,000 metres has been observed. The most continuous uranium mineralization is associated with leucogranites that have been flooded by intense silica and biotite. Brecciated leucogranite is common in these areas. Biotite-rich and occasionally sulphide-bearing sedimentary gneisses are interleaved with the leucogranite and occur as large blocks within the intrusive host to mineralization. In general, uranium concentrations obtained from spectrometer surveys increase with increases in the content of biotite within the intrusive breccias. However, some biotite-poor, quartz-infiltrated zones also contain high U contents. Extensive grab and channel sampling has been completed in the area and samples are being processed by the labs.
Quest management is very enthusiastic about the results generated from the 2008 exploration program conducted on the Nanuk property. A preliminary program of 10 to 12 diamond drill holes for a total of 1,250 metres is currently in progress across the Nanuk LK and Nanuk 1 mineralized areas. The program is expected to be completed in 3 to 4 weeks.
Stewart Lake Property Results
The Stewart Lake trend is situated within claim Block 8. It comprises numerous uraniferous outcrops, subcrops and large boulders traced by prospecting over a distance of approximately 2.5 km and over a width of up to 700 m. The mineralized host rocks are predominantly coarse-grained to very coarse-grained granitoids containing moderate to intense biotite and magnetite mineralization. The granitoid rocks located within this area are moderately fractured and brecciated. A prominent yellow staining and hematitic alteration is commonly found coating fractures and occurring as breccia filling within the granitoid units. The Stewart Lake mineralization (Table 2) is closely associated with a large east-northeast trending airborne radiometric anomaly (eU/eTh and eU), defined over a strike length of 4.0 km.
Table 2 - Significant U3 O8 Assays from Stewart Lake Property Exploration
Work, George River
---------------------------------------------------------------------------
Sample # Easting Northing U3O8(%)(1) Sample Description Occurrence
---------------------------------------------------------------------------
362611 441334 6252728 0.804 granite boulder Stewart Lake
(16.1 lbs/ton)
---------------------------------------------------------------------------
361551 441142 6252682 0.241 granite boulder Stewart Lake
(4.81 lbs/ton)
---------------------------------------------------------------------------
361552 441030 6252617 0.354 granite boulder Stewart Lake
(7.08 lbs/ton)
---------------------------------------------------------------------------
(1) Assays performed by Actlabs of Ancaster, Ontario using the Delayed
Neutron Counting Method (DNC)
Prospecting crews have completed their evaluation of the numerous radiometric anomalies present on the Stewart Lake property. Work there has confirmed the significance of the previously-defined mineralization on the property and will be the focus of future exploration on the property. Evaluation of the 2008 survey results is in progress. Assessment of this data will guide future exploration intentions for the property area.
Quality Control
Dr. George Jenner, P. Geo., is the qualified person on the George River Project under National Instrument 43-101 and has reviewed this news release. Material for analysis has been obtained from grab samples from outcrop and boulders, as well as from channels cut into outcrop. A strict QA/QC program is followed which includes uranium standards and duplicates. Analyses are being performed by Activation Laboratory Limited of Ancaster, Ontario.
In a separate announcement, Quest would like to retract the statement made in its press release dated August 22, 2008 relating to the review by Mr. Luciano Vendittelli, P. Geo., of the contents of that release. The statement was made in error as Mr. Vendittelli did not review the contents of the August 22, 2008 press release. There was no requirement that the contents of the press release be reviewed by a qualified person.
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 publically-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., whereby Nebu is committed to spending $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.
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 the George River Project Location Map, please visit the following link: http://media3.marketwire.com/docs/George%20River.pdf
To view the Nanuk Property Airborne Magnetometer and Occurrence Map, please visit the following link: http://media3.marketwire.com/docs/Nanuk.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
Quest Uranium Corporation
Peter J. Cashin
President & CEO
(416) 916-0777 or 1-887-916-0777
(416) 916-0779 (FAX)
Email: info@questuranium.com
Website: www.questuranium.com
