Pitchstone
Drilling Intersects Radioactivity in Namibia
� Wide Spaced
Reconnaissance Drilling Completed at Dome North
� Significant
Radioactivity over 2.2 m
in Calcrete
� Planned 20 holes
expanded to 37 holes
Pitchstone Exploration Ltd. (TSX-V:
PXP; "Pitchstone") is pleased to provide an update on a
reverse circulation (RC) drilling program on the Dome property in Namibia.
The program was completed in early September with a total of 734 meters drilled in 37
holes. The project is a uranium exploration joint venture between
Pitchstone (58%) and private company Manica Minerals Ltd. (42%) through
Manica's wholly-owned subsidiary Cheetah Minerals Exploration Ltd. The
property location relative to the R�ssing and Langer Heinrich uranium mines,
and other uranium occurrences in the western Namibian uranium district, is
illustrated on a map on the company website at www.pitchstone.net.
RC drilling at Dome North was designed to provide an
initial test of a 3 x 7
kilometer area considered to be prospective for calcrete
style mineralization similar to that at Langer Heinrich. Calcrete was
intersected in all but one of the 37 holes drilled, with thicknesses ranging
between 1 and 21 meters.
Several target areas were tested, including:
�
An area of recently discovered surface uranium mineralization,
�
Radon anomalies,
�
Interpreted paleochannels based on ground electromagnetic geophysical
surveys.
Significant radioactivity was observed in down hole
gamma probe results in two drill holes, one of which (DN-11) was in the
immediate area of previously discovered surface mineralization with grab
samples up to 0.19% U3O8 (see April 21, 2009 news
release). The other (DN-23) was located 700 meters from the area
of surface mineralization. The intersection in DN-23 is particularly
encouraging due to the thickness and level of radioactivity in the zone. Radioactivity
in DN-23 is open in all directions as the nearest drill hole is 380 meters away. Radioactivity
in holes DN-11 and DN-23 are summarized in the table below.
Hole-ID
|
From (m)
|
To (m)
|
Length (m)
|
Radioactivity*
(average/maximum)
|
Radioactivity
(x Background)
|
DN09-11
|
0.23
|
0.93
|
0.70
|
1242 / 1878
|
12
|
DN09-23
|
6.73
|
8.93
|
2.20
|
1395 / 3143
|
14
|
incl.
|
6.78
|
7.83
|
1.05
|
2046 / 3143
|
20
|
* Counts per second on down-hole, total count
gamma probe
Several other holes encountered weakly anomalous
radioactivity. Samples have been submitted for analysis to determine the
amount of uranium present and to confirm that the radioactivity is due to uranium.
If the analytical results are sufficiently encouraging, Pitchstone will follow
up with a program of detailed electromagnetic geophysical surveying, to aid in
the definition of paleochannels that are believed to host the mineralization,
and additional drilling.
Steve Blower, P.Geo., President of Pitchstone, is the
Qualified Person for the purposes of NI 43-101 with respect to the technical
information in this news release.
About Pitchstone
Pitchstone is well funded and exploring for uranium in
four proven districts. The property portfolio features 12 projects in the
eastern Athabasca Basin, Saskatchewan, four
of which are 100% owned. In addition, there are several joint
venture projects in the Hornby Bay Basin, Nunavut, an exploration
partnership in the Franceville Basin, Gabon, and a joint venture on two
projects in Namibia.
Pitchstone benefits from the collaboration of a unique group of
geologists with extensive uranium exploration and production experience.
On behalf of the Board,
E.A.G. (Ted) Trueman, CEO & Chairman
For further information contact
Claire Stewart at 604 630 5563, Mark T. Brown, CFO, at 604 687 3520, or visit www.pitchstone.net.
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 release. This news
release may contain assumptions, estimates, and other forward-looking
statements regarding future events. Such forward-looking statements
involve inherent risks and uncertainties and are subject to factors, many of
which are beyond Pitchstone's control, that may cause actual results or
performance to differ materially from those currently anticipated in such
statements.
Claire
Stewart
Office Manager
Pitchstone
Exploration Ltd.
315 -
1100 Melville Street
Vancouver BC V6E
4A6
Ph.: 604 630-5563
Fax: 604 630-5564
e-mail: cstewart@pitchstone.net
www.pitchstone.net