NWT
URANIUM DRILL RESULTS SUPPORT BULK TONNAGE POTENTIAL AT PICACHOS PROJECT, MEXICO
Toronto – May 1, 2008 – NWT Uranium
Corp. (TSX-V: NWT; OTCBB: NWURF) is pleased to announce results from the 2007
drill program conducted on its polymetallic Picachos Project in Mexico.
Highlights include a 154.5-foot (47.1-meter) intercept of 83 grams per tonne
(g/t) silver and 0.84% combined zinc-lead, which starts at surface. The
richest silver intercept returned 509 g/t silver and 0.56% zinc-lead over 9.8
feet (3.0 meters). Significant gold and zinc-lead results included a
4.9-foot (1.52-meter) interval of 6.2 g/t gold, 348 g/t silver and 19.9%
zinc-lead. The mineralized zone has been evaluated to a minimum strike
length of 1,640 feet (500 meters).
“We are very encouraged by these drill results, which confirm the
bulk mining potential at Los Cochis,” said Marek
J. Kreczmer, President and CEO of NWT Uranium.
“The Picachos project is in the Sierra Madre Occidental Ignimbrite Belt,
which is one of the largest silicic volcanic fields on Earth, and is
traditionally known for high-grade epithermal gold and silver deposits such as
Tayoltita and Rosario. We look forward to additional drilling to confirm the
Los Cochis orebody shape and test its extensions, as well as explore other
three main mineralized zones of the Picachos property.”
Results
A total of 21 reverse circulation (RC) holes, representing 10,254 feet
(3,125 meters), were drilled in November 2007. Of the 21 holes drilled,
18 targeted the main silver soil geochemical anomaly on seven lines spaced 328
feet (100 meters) apart, with most holes dipping to the southwest.
Of particular note, Holes COCH3, 6, 13 and 20 were drilled from the same location
in four different directions as a preliminary shape investigation of the
orebody. Additionally, two holes tested an IP anomaly located 820 feet
(250 meters) east of the main zone while one hole
(COCH15) tested a gold soil anomaly. Selected analytical results are detailed
in the following table:
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Silver
(g/t)
|
Zinc
(%)
|
Lead
(%)
|
Gold
(g/t)
|
COCH01
|
Surface
|
15.20
|
15.20
|
9
|
0.25
|
0.11
|
-
|
COCH03
|
Surface
|
47.12
|
47.12
|
83
|
0.57
|
0.27
|
-
|
COCH06
|
Surface
|
38
|
38
|
90
|
0.53
|
0.28
|
-
|
COCH08
|
130.72
|
147.44
|
16.72
|
74
|
0.72
|
0.36
|
-
|
COCH08
|
185.44
|
218.88
|
33.44
|
34
|
1.38
|
0.55
|
-
|
including
|
186.96
|
190
|
3.04
|
32
|
2.00
|
0.33
|
-
|
and
|
194.56
|
202.16
|
7.6
|
126
|
4.51
|
1.97
|
1.5
|
and
|
196.08
|
197.6
|
1.52
|
348
|
16.6
|
3.3
|
6.2
|
COCH10
|
Surface
|
62.32
|
62.32
|
6
|
0.16
|
0.06
|
-
|
COCH13
|
Surface
|
34.96
|
34.96
|
58
|
0.53
|
0.22
|
-
|
including
|
18.24
|
22.8
|
4.56
|
264
|
1.49
|
0.8
|
-
|
COCH13
|
48.64
|
54.72
|
6.08
|
17.5
|
0.45
|
0.19
|
-
|
COCH15
|
6.02
|
12.14
|
6.12
|
4
|
0.90
|
0.13
|
-
|
COCH15
|
27.34
|
34.94
|
7.6
|
2.66
|
0.08
|
0.09
|
0.46
|
COCH20
|
Surface
|
36.48
|
36.48
|
88
|
0.32
|
0.18
|
-
|
including
|
27.36
|
30.4
|
3.04
|
509
|
0.24
|
0.32
|
-
|
The intercepts reported are RC mineralized intercepts. True width
of the orebody is not estimable at this stage. The targets drilled
at Los Cochis tested old workings and high silver geochemistry on surface,
identified through an extensive soil geochemical survey conducted in
2005. Specifically, rock chip-channel and grab samples returned
individual values of up to 145 ounces per ton (4,975 grams per tonne) silver,
0.25 oz/t (8.61 g/t) gold, 53% zinc as well as 50% lead, as detailed in a press
release dated October 31, 2007.
The drilling intercepted mostly andesitic volcanosedimentary rocks, with
some andesitic flow and dykes, and quartz feldspar porphyritic dykes.
Mineralization occurs in propylitic altered andesitic rocks, and consists of
galena, pyrite, sphalerite, tetrahedrite and chalcopyrite.
NWT has an option to earn a 70% interest in Picachos from Yamana Gold as
announced in a press release dated July 12, 2006.
Quality Control/Assurance
Sampling was supervised by Michelle Robinson,
MASc., P.Eng., who is a qualified person as defined by
National Instrument 43-101 and a consultant to NWT Uranium. Ms. Robinson has
supervised the preparation of this press release.
Dry and wet RC drilling samples were routinely collected on five-foot
intervals and reduced using cyclone and Jonas splitter. Samples were
transported to Acme Analytical Laboratories in Guadalajara
for preparation and pulps were sent to Acme’s Vancouver office for assay (ICP-MS).
Samples containing more than 0.3 g/t gold, 50 g/t silver or more than 1% base
metals were re-analyzed using a 30-gram fire assay for gold-silver, and
high-grade multi-element ICP methods. Blind standard pulps were inserted
into the sample stream roughly every 25 samples to check for within-batch
analytical precision.
As previously announced in December 2007 press release, 2,050 total
samples were collected through the drill program. Drilling was conducted
by Layne de Mexico SA.
A total of 88 drilling samples were selected from both mineralized and
non-mineralized intercepts from the back-up splits in camp, and sent to SGS
Minerals Services in Durango,
Mexico, for
gold and silver analysis. Of the 88 samples, only two report significant
differences between Acme and SGS.
ABOUT NWT URANIUM:
NWT Uranium Corp. (www.nwturanium.com) is an international resource exploration company with an experienced,
highly technical management team. Since its inception, NWT has
concentrated on the acquisition of properties with potential uranium
targets. NWT Uranium is listed on the NASD Bulletin Board under the
symbol “NWURF” and the TSX Venture Exchange under the symbol
“NWT.”
FURTHER INFORMATION:
Marek J.
Kreczmer, M.Sc., P.Eng.
President and CEO
NWT Uranium Corp.
(866) 437-9551
info@nwturanium.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain “forward
looking statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Without limitation, statements
regarding potential mineralization and resources, exploration results, and
future plans and objectives of the Company are forward looking statements that
involve various degrees of risk. The following are important factors that
could cause the Company’s actual results to differ materially from those
expressed or implied by such forward looking statements: changes in the
worldwide price of mineral commodities, general market conditions, risks inherent
in mineral exploration, risks associated with development, construction and
mining operations, the uncertainty of future profitability and the uncertainty
of access to additional capital.
Some of the assays returned were below the detection
limits of the analytical techniques used to analyze samples.
Potential quantity and grade is conceptual in
nature. There has not been sufficient exploration at Picachos to define a
mineral resource and it is uncertain if further exploration will result in
discovery of a mineral resource on the property.