Xemplar Provides Update on Namibian Uranium Exploration
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/20/11 -- Xemplar Energy Corp. (TSX VENTURE: XE)(FRANKFURT: E7R)(NAMIBIA: XEM) is pleased to provide further assay results from recent exploration work carried out on its Cape Cross uranium project in Namibia.
Cape Cross Project
The Cape Cross project consists of three adjoining EPL's (exploration prospecting licences) which cover a combined area of 2,041 square kilometers 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.
An extensive and systematic ground exploration program, covering an approximate 49-kilometer 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.
Within the boundaries of Xemplar's current property holdings, General Mining & Finance Corp. Ltd., and Gold Fields Prospecting (Pty.) Ltd. completed a significant amount of trenching as well as a shallow (maximum 25 meters) surface drilling program in the Mile 72 area during the 1970's to expose both pedogenic and primary uranium mineralization. Regional and detailed surface radiometric surveys discovered approximately eight radiometric anomalies.
Work Program Completed
A new target area 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 an approximate 49 square kilometer area has been completed. The ground exploration program consisted of geological mapping, surface radiometric surveys (utilizing a RS-125 Spectrometer) at 200m intervals along 7 parallel traverses; spaced one kilometer apart, as well as grab samples being collected at 200 meter intervals along the traverses. Small pits were dug to expose the lithologies in areas overlain by alluvial cover and of which the latter is masking the surface radiometric response. Uranium mineralization has been detected both in calcrete and alaskite rocks. These two geological environments host the major uranium deposits in Namibia. Grab samples have returned values between U-938 ppm (parts per million) and U-13,300 ppm (RS-125 Spectrometer) with a 170 tcps (total counts per second) background. Grab samples greater than 1,000 tcps were selected for assaying.
Assay Results
XRF assay data for the most recent batch of 48 grab samples have been received and are presented below.
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Sample ID U3O8 ppm Th ppm
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Traverse 1 B01612 588 less than 10
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B01613 1816 less than 10
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B01614 586 14
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B01615 262 13
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B01616 56 11
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Traverse 2 B01617 126 less than 10
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B01618 76 17
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B01619 105 10
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B01620 1162 less than 10
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B01621 793 less than 10
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Traverse 3 B01622 182 less than 10
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B01623 207 less than 10
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Traverse 4 B01624 177 less than 10
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B01625 77 less than 10
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B01626 261 less than 10
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B01627 290 less than 10
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B01658 623 less than 10
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B01659 203 less than 10
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Traverse 5 B01628 26 less than 10
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B01629 123 less than 10
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B01630 662 less than 10
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B01631 304 less than 10
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B01632 766 less than 10
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B01633 251 10
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B01634 191 16
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B01635 2370 less than 10
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B01636 52 15
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B01637 45 19
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B01638 113 37
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Traverse 6 B01639 1323 11
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B01640 3319 17
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B01641 297 10
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B01642 98 less than 10
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B01643 455 less than 10
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B01644 248 less than 10
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B01645 337 less than 10
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B01646 542 less than 10
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B01647 116 less than 10
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B01648 246 less than 10
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Traverse 7 B01649 82 less than 10
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B01650 47 less than 10
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B01651 1404 less than 10
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B01652 1785 less than 10
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B01653 226 less than 10
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B01654 739 less than 10
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B01655 374 less than 10
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B01656 427 less than 10
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B01657 40 less than 10
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Previously released assays on the same grid.
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Sample ID U3O8 ppm Th ppm
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Traverse 1 B01501 74 less than 10
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Traverse 2 B01502 10 12
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B01503 99 less than 10
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B01504 4597 less than 10
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B01505 874 less than 10
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Traverse 3 B01506 63 less than 10
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B01507 190 less than 10
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B01508 102 less than 10
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B01509 587 less than 10
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B01510 1306 less than 10
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B01511 284 less than 10
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Traverse 4 B01512 56 less than 10
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B01513 106 12
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B01514 1240 less than 10
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B01515 351 less than 10
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Traverse 5 B01601 1531 less than 10
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B01602 790 less than 10
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B01603 230 less than 10
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B01604 1210 less than 10
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B01605 1083 less than 10
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B01606 157 less than 10
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B01607 1078 10
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B01608 142 less than 10
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Traverse 6 B01609 12 13
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Traverse 7 B01610 2464 less than 10
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B01611 335 less than 10
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(i)Previously disclosed in press release dated November 30, 2010.
Planned Exploration Program for 2011
Sampling in the present grid area will continue in early 2011, on traverses spaced 500 meters apart. Anomalous areas will be in-filled with traverses at a 250 meter spacing to increase the resolution and to outline the areas containing the highest uranium grades. On completion of the analysis and evaluation of all the geological, structural and assay data, a surface drill program will be carried out to test mineralization at depth across delineated target areas.
Samples collected, from the current program, 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, PEng, 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