Mesa Uranium Files 43-101 Report, Expands the Green Energy Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/23/11 -- Mesa Uranium Corp. (TSX VENTURE: MSA)(PINK SHEETS: MSAJF) ('Mesa' or the 'Company') is pleased to report that it has filed a technical report under National Instrument 43-101 for the wholly owned Green Energy project in Utah. Additionally, Mesa has staked new claims contiguous to the existing claim block, adding 2,240 acres for a total position of 10,080 acres.
The Technical Report was prepared by Dana Durgin of Delve Consultants, a Reno Nevada based consulting geologist who fulfills the requirements of a 'Qualified Person' for the purposes of NI 43-101. The report is dated March 14, 2011 and is titled 'Technical Report, Geology and Mineral Resources, Green Energy Project, Grand County, Utah'. The report may be viewed on Mesa's website www.mesauranium.com or on the System for Electronic Document Analysis and Retrieval (SEDAR) www.sedar.com.
In the report, Mr. Durgin provides a detailed description of the historical reserve estimates, mineral potential, geology and previous exploration on the project. Mr. Durgin's review recommends a Phase 1 program of evaluation, drilling and metallurgical testing on the targeted areas, at an estimated budget of $340,000. An excerpt from the Recommendations section concludes: 'The drilling of a well should be considered for exploration and possible production. It should be designed to sample the Clastic Zone 31 brine and the potash #5 and #9 strata, which are those currently being mined at Intrepid Minerals' Cane Creek potash mine.' Mesa is currently engaged in obtaining the permits and selecting a drilling contractor for this program.
The report stated, 'While not yet sufficiently well defined for mining purposes, both the lithium and the potash resources appear to be quite large, based on the oil and gas well data, and on brine studies from the 1960's.' Mesa is currently creating a 3-D model using the oil and gas well data to aid in drill target selection.
About the Green Energy Project
Mineral brine occurs at the project with historic values as high as 1,700 ppm lithium (0.9% Li2CO3), 7.9% potash, 18.7% magnesium chloride, 6,100 ppm bromine and 1,260 ppm boron; these results are not 43-101 compliant and have not been verified by the Company. To put the project into context, the table below shows lithium and potassium grades at various natural brine mines. Potash from solution mining typically grades 1-3% potash however, these are man-made brines created by dissolving concentrated bedded potash deposits.
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Deposit Location Lithium (ppm) Potash (percent)
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Green Energy Utah 81 - 1700 8.96
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Atacama Chili 1,700 4.2
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Clayton Valley Nevada 300 0.15
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Great Salt Lake - North Arm Utah 66 0.87
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Great Salt Lake - South Arm Utah 43 1.3
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Hombre Muerto Argentina 100 - 700
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Uyuni Bolivia 100 - 500
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About Mesa Uranium
Mesa is exploring a portfolio of premier mineral properties in the United States where it controls significant land holdings. All projects are within proven mining districts with excellent access and infrastructure. Mesa currently has 12.6 million shares issued and outstanding, and has no debt. For further information please visit our website at www.mesauranium.com.
ON BEHALF OF THE BOARD MESA URANIUM CORP.
Foster Wilson, President and CEO
This news release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
Contacts:
Mesa Uranium Corp.
Corporate Communications
775-824-4533
www.mesauranium.com