BAYSWATER URANIUM CORPORATION
510 Burrard Street, Suite 510
Vancouver, B.C. V6C 3A8
Tel: (604) 687-2153
www.bayswateruranium.com
NEWS RELEASE
Bayswater Encounters Anomalous Metal Values in Drill Hole at Brudell Lake, Athabasca Basin
Vancouver, B.C., June 5, 2009 � Bayswater Uranium Corporation (TSX-V: BAY) (OTC: BYSWF) is pleased to provide an update of drilling recently completed at the Company�s Brudell Lake project in the Athabasca Basin.
Final analytical results have been received from core samples from the drill program carried out in late 2008 on the Brudell Lake project. As previously reported in a news release dated October 16, 2008, this drill program was designed to test strong MT (magnetotelluric) anomalies. One vertical hole was completed to a depth of 1,006 metres (m), and the unconformity between Athabasca sandstone and basement rocks was intersected at a depth of 965 m. The cause of the MT anomaly was not explained by this hole and no anomalous uranium values were intersected. However, systematic sampling of the Athabasca sandstone resulted in the definition of what are interpreted to be significant geochemical anomalies. In the 100 m of sandstone above the unconformity, several zones of nickel (Ni), cobalt (Co), lead (Pb) and boron (B) enrichment were defined. These elements are commonly associated with the margins of alteration zones surrounding unconformity related uranium deposits. A sample from this zone yielded 19.7 ppm Ni; background Ni contents are generally less than 2.8 ppm.
Other anomalous intervals in the sandstone from the lithogeochemistry are summarized below:
866 - 888 m: Co + Ni
910 - 944 m: Co + Ni + Pb
950 � 965 m (unconformity): B (up to 21 ppm) + V (Vanadium) + Se (Selenium)
965 m: 155 ppb Au (gold) over 0.5 m immediately above unconformity
�Finding geochemical anomalies with this intensity in the sandstone is encouraging,� states Victor Tanaka, Chief Operating Officer of Bayswater. �We also have other significant MT anomalies in the property that remain untested, and we will be searching for potential partners to help us evaluate this under-explored portion of the prolific Athabasca Basin.�
This news release has been reviewed and approved by Victor Tanaka, P.Geo., Chief Operating Officer and Director, who is a Qualified Person as defined by National Instrument 43-101.
About Bayswater Uranium Corporation - The Super Junior Uranium CompanyTM
Bayswater Uranium Corporation is an international uranium exploration and development company. The Company owns several advanced uranium properties in the United States with significant historical resources that may be amenable to ISR and/or conventional mining. As well, Bayswater is the only uranium company to have major landholdings in each of Canada's most important producing and exploration regions � the Athabasca Basin, the Central Mineral Belt, and the Thelon Basin. Bayswater combines a balanced portfolio of advanced and exploration projects with the uranium expertise of its technical and managerial teams. To capitalize on current market conditions and strong growth of the nuclear industry, the Company is pursuing acquisition opportunities of advanced-stage uranium projects with near-term production potential. Bayswater�s vision is to build a major international uranium company. Bayswater is listed on the TSX Venture Exchange under the symbol "BAY".
On behalf of the Board of:
BAYSWATER URANIUM CORPORATION
George M. Leary
President
For further information contact:
John Gomez
Manager, Investor Relations
Telephone: (604) 687-2153
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
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Bayswater Uranium Corp.
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EXPLORATION STAGE |
CODE : BAY.V |
ISIN : CA0731731067 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Bayswater is a uranium exploration company based in Canada. Bayswater holds various exploration projects in Canada and in Mali. Its main exploration properties are AVOCA in Ireland, NORTH THELON, SOUTH THELON, ALZADA, JUNIPER PROPERTY, MOUNTAIN WEST, BRUDELL LAKE, COLLINS BAY EXTENSION, COIN CANYON, VIKING (BAYSWATER), CENTRAL MINERAL BELT (BAYSWATER), TEJANA MESA, ANNA LAKE, RENO CREEK PROJECT, WISKER VALLEY and BOITEAU LAKE in Canada, NIGER in Niger and SAMIT in Mali. Bayswater is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 6.5 millions as of today (US$ 4.8 millions, € 4.3 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.47, and its lowest recent point on December 19, 2022 at CA$ 0.02. Bayswater has 59 520 000 shares outstanding. |