Xemplar Energy Corp.: High Grade Uranium Values on Namibian Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/30/10 -- Xemplar Energy Corp. (TSX VENTURE: XE)(FRANKFURT: E7R)(NAMIBIA: XEM) (the 'Company') would like to provide its shareholders with an update on its Namibian uranium exploration program.
Cape Cross Uranium Project - Mile 72 area
In a press release dated 8th November 2010, the Company reported on a new uranium target area which has been identified to the west of the historic workings which displays high grade surface uranium mineralization. An extensive and systematic ground exploration program, covering approximate 49 km2 area has now been completed. Uranium mineralization has been detected both in calcrete and alaskite rocks. These two geological environments host the major uranium deposits in Namibia.
The Cape Cross project consist of three adjoining EPLs (exploration prospecting licences) which cover a combined area of 2,041 square kilometres and are situated within the uranium corridor in Namibia. World-class uranium mines such as Rossing and Langer Heinrich are located within the uranium corridor, as well as uranium deposits (Trekkopje, Valencia, Rossing South, Idadome, Marenica, Tubas and Etango) which are being developed.
The XRF analytical data for the first batch of 26 grab samples are presented in the following table. This data is extremely encouraging and endorses our plans to mount an intensive follow up ground exploration program to commence early in 2011 and a possible surface drill program to test mineralization at depth across delineated zones of surface / sub-surface uranium mineralization.
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Background U3O8 XRF
cps Sample ID tcps Th XRF (ppm) (ppm)
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Traverse 1 180 B01501 1290 less than 10 74
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Traverse 2 157 B01502 1119 12 10
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B01503 2572 less than 10 99
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B01504 10610 less than 10 4597
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B01505 5462 less than 10 874
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Traverse 3 548 B01506 1900 less than 10 63
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B01507 1540 less than 10 190
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B01508 3100 less than 10 102
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B01509 4700 less than 10 587
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B01510 6500 less than 10 1306
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B01511 6500 less than 10 284
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Traverse 4 330 B01512 820 less than 10 56
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B01513 1350 12 106
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B01514 5820 less than 10 1240
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B01515 2572 less than 10 351
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Traverse 5 270 B01601 5626 less than 10 1531
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B01602 4605 less than 10 790
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B01603 2329 less than 10 230
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B01604 4022 less than 10 1210
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B01605 3400 less than 10 1083
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B01606 3600 less than 10 157
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B01607 3400 10 1078
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B01608 7335 less than 10 142
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Traverse 6 270 B01609 443 13 12
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Traverse 7 170 B01610 12502 less than 10 2464
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B01611 2193 less than 10 335
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A second batch of 46 grab samples, from the same area, has been submitted for analysis.
Samples collected were tested at SGS South Africa (Pty) Ltd in Booysens, South Africa using XRF Spectrometer, an accredited method. This laboratory is ISO 17025 certified. Grab samples are selective by nature and are unlikely to represent average grades for the property.
Technical information in this news release has been prepared and/or reviewed by Mike Magrum, P. Eng, a director of the Company and a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors,
Xemplar Energy Corp.
Simon Tam, CEO and Director
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contacts:
Xemplar Energy Corp.
Simon Tam
CEO and Director
1.604.687.4191
1.604.871.9926 (FAX)
info@xemplar.ca
www.xemplar.ca