- Channeled grab samples from outcrop return assays of up to 0.519% U3O8 (10.28 lbs/ton)
MONTREAL, QUEBEC--(Marketwire - Jan. 31, 2008) - Quest Uranium Corporation (the "Company") (TSX VENTURE:QUC) today announces the results of preliminary work completed on its Kenora North uranium property (the "Property"). The 100%-owned property consists of 69 mineral claims, comprising 910 claim units (14,730 hectares) and is located 70 kilometres (km) north of the Town of Kenora, in northwestern Ontario. Notably, the property can be explored year-round given its excellent access via new logging roads and proximity to infrastructure in Kenora.
The highlight of the 2007 prospecting program (see Table 1) was the discovery of the new Thor occurrences, that collectively yielded an average assay of 630 ppm U3O8 (1.26 lbs/ton) from 196 channeled grab samples obtained from bedrock mineralization (best value of 4260 ppm U3O8 or 8.52 lbs/ton). Uranium occurs in an east-west trending pegmatitic dike complex traced over a strike length of 2.5 km and over minimum widths of up to 400 metres (m). There is no evidence of any historical drilling at the site of the Thor occurrences.
Other significant highlights include the discovery of a new occurrence at Scottie Lake, yielding a best assay of 5192 ppm U3O8 (10.38 lbs/ton), as well as the confirmation of significant uranium mineralization at the historic Canfer occurrence, returning 3623 ppm U3O8 or 7.25 lbs/ton.
The Kenora North Uranium Project:
Preliminary prospecting was completed on the property by the Company in the fall of 2007, with the objective of re-locating historic uranium occurrences situated on the property and utilizing new logging roads traversing the property, to help make new discoveries. The program was successful in re-locating the historic occurrences known as Canfer, Pancer and Snook Lake, and during the course of this work, was also successful in discovering several new mineralized sites at Thor, Scottie Lake East and Scottie Lake West.
The uranium occurrences form a 50 km-long east to west-trending corridor intimately associated with the contact zone between the Winnipeg River greenstone belt and the English River gneiss belt. A large variety of intrusion-related uranium mineralization types are present throughout the property holding.
Table 1 - Fall 2007 Sampling Program Results -
Kenora North Uranium Property, Ontario
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OCCURRENCE NO. OF AVERAGE HIGHEST LOWEST COMMENTS
NAME SAMPLES ASSAY (PPM ASSAY (PPM ASSAY (PPM
U3O8) U3O8) U3O8)
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Canfer 20 988 (1.98 3623 (7.25 53 (.100 Sampling of
lbs/ton) lbs/ton) lbs/ton) historic
occurrences in
pits,
trenches and
outcrops
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Pancer 74 677 (1.35 2867 (5.73 6 (.012 Samples
lbs/ton) lbs/ton) lbs/ton) collected
from new
discoveries
as well as
historic pits
and trenches
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Thor 196 630 (1.26 4260 (8.52 7 (.012 Samples
lbs/ton) lbs/ton) lbs/ton) collected
from new
discoveries
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Scottie Lake 2 2671 (5.34 5192 (10.38 150 (.300 New occurrence
East lbs/ton) lbs/ton) lbs/ton)
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Scottie Lake 3 945 (1.89 1640 (3.28 221 (.442 New occurrence
West lbs/ton) lbs/ton) lbs/ton)
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Snook Lake 64 487 (.974 2006 (4.01 21 (.042 New and old
lbs/ton) lbs/ton) lbs/ton) occurrences
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Regionally, the occurrences on the property are associated with a large arcuate-shaped radiometric anomaly defined in a survey flown by the Geological Survey of Canada in the 1970s (see Figure 1) and is suggestive of a large potential area for uranium mineralization. A map illustrating the radiometric anomaly and the uranium occurrences on the property forms part of this news release and is posted on the Quest's website at www.questuranium.com.
Quest plans an exploration program for the spring of 2008 involving a detailed airborne radiometric survey, followed-up by prospecting, trenching and Fall diamond drilling.
Quality Control
Don Hoy, P. Geo., (Ontario) is the qualified person on the Kenora North property under National Instrument 43-101 and was responsible for the preparation of this news release.
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 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 area: the George River belt in northeastern Quebec, the Kenora area of northwestern Ontario and the Maritimes basin area of New Brunswick. The Company continues to identify new, high-potential project opportunities throughout North America.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. 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 please visit the following link: http://www.ccnmatthews.com/docs/quc0130.pdf
FOR FURTHER INFORMATION PLEASE CONTACT:
Quest Uranium Corporation
Peter J. Cashin
Technical Advisor and Director
(416) 587-3220 or 1-888-878-3551
(514) 878-4427 (FAX)
Email: info@questuranium.com
Website: www.QuestUranium.com
