BAYSWATER URANIUM CORPORATION
510 Burrard Street, Suite 510
Vancouver, B.C. V6C 3A8
Tel: (604) 687-2153
www.bayswateruranium.com
NEWS RELEASE
Bayswater Intersects 9.5% Zinc & 3.3% Lead over 1.8 m in Drill Hole at Avoca, Ireland
Vancouver, BC, June 10 2009 - Bayswater Uranium Corporation (TSX-V: BAY) (OTC: BYSWF) is pleased to present an update of its Avoca project.
The Avoca project consists of approximately 7,300 hectares of land prospective for base metals in southeastern Ireland, and is 100% owned by Bayswater Uranium. The property was once a significant copper producer with historical production estimated at 12 million tonnes of ore averaging 0.75% copper. The Avoca deposit is considered to be a typical volcanogenic massive sulphide (VMS) deposit that contains a copper rich core and marginal zinc and lead rich zones with significant gold and silver credits. At West Avoca, a historical resource estimate of 6 million tonnes averaging 5.3% Zn and 1.9% Pb (non NI 43-101 compliant) was interpreted by Noranda Exploration to remain accessible through existing flooded underground workings down to a depth of 250 metres (m). The Kilmacco Zone in East Avoca has excellent potential for additional resources of near surface zinc-lead-silver-gold mineralization. The currently defined mineralized horizon of the Kilmacco zone extends over a 2 kilometre (km) strike length and has been drilled to less than 100 metres in most cases. Drilling by prior operators at Kilmacco in the 1980's returned several positive drill intersections including 10.1% Zn, 5.7% Pb, 0.48% Cu, 284 g/T Ag and 4.52 g/T Au over 8.3 m. Model analogues in eastern Canada suggest a potential for a large mineralized massive sulphide system at depth, down plunge to the southwest from the central copper-rich zone and adjacent zinc-lead-rich extensions.
As reported in a news release dated September 6, 2006, Bayswater completed 42.4 line km of deep penetrating IP surveys which delineated anomalous chargeability anomalies to depths of over 900 m in 5 grids surveyed along the 6 km mineralized Avoca trend. A 1,193 m diamond drilling program, consisting of two holes, was carried out in late 2008 to evaluate two of these anomalies. These holes encountered encouraging widespread alteration and sulphide mineralization in favourable felsic volcanic rocks, including occasional thin layers of massive pyrite and wide zones of quartz-pyrite stringers, both with associated lead-zinc mineralization in a close spatial relationship with geophysical targets, but failed to intersect significant (i.e. >20m) thick massive base metal sulphide zones.
The best intercept was found in an inclined drill hole (KIL-1) in the Kilmacco zone which assayed 9.5% Zinc and 3.3% lead over 1.8 m. This intercept was encountered at about 125 m in the inclined drill hole and occurs above two deep chargeability anomalous zones and subparallel to the shallow known mineralized zones at Kilmacco. This is a new zone that requires further drilling to evaluate its continuity and potential�particularly any connection it may have with the deep chargeability anomalies. The hole also intersected a zone of disseminated and locally massive pyrite with locally associated copper mineralization between about 281 m and the bottom of the hole at 567.5 m. This sulphide mineralized intersection lies vertically between the projection of the shallow Kilmacco zones and one of the two deep IP anomalies. The main deep IP anomaly that occurs along the projection of the Kilmacco zones and the subjacent one, as referred to above, remain untested.
The second hole (TC-1) was designed to test a significant chargeability anomaly at depth beneath the Tigroney-Cronbane open pit mined copper zone. However, this hole was found to significantly deviate from its projected target and as a result this strong IP anomaly remains untested. Other subparallel deep IP anomalies adjacent to the target anomaly to be tested also remain untested. The hole intersected widespread disseminated pyrite and stringer quartz-pyrite mineralization with local associated lead-zinc mineralization�particularly between 236 m and 348 m where numerous sulphidic quartz stringers and sulphide bands, up to 30 cm wide, with sphalerite, galena, pyrite and chalcopyrite mineralization occur. This latter zone of mineralization occurs down dip from the Cronebane copper zone and indicates vertical zonation into lead-zinc sulphide mineralization at depth, which tends to validate the Company�s model for this deposit. The best intercept in this zone assayed 13.83% zinc, 4.46% lead and 0.9 oz silver/tonne over 0.90 m. This mineralized zone occurs well above (i.e. at least 200 m above) the deep chargeable anomalies that remain untested. In addition, there are numerous other IP anomalies at depth and along strike the known mineralized system at Avoca that warrant drill testing.
As a result of the drilling at Avoca, the prospecting licenses covering the property are in good standing until 2010-2012. Minimal further work is required on one of the licenses in order for both licences to be in good standing until June, 2012. The Company plans to consider further geophysical work along the Avoca trend prior to resuming further drilling in order to better define and prioritize drill targets of interest at depth and along strike.
Although this property has considerable merit, it is available for farm-out as it is not the core business of the Company. The Company is focused on advanced uranium projects in Canada and the United States.
�Typically, VMS deposits occur in clusters,� states George Leary, President and CEO of Bayswater. �We feel there is excellent potential at Avoca for a larger massive sulphide deposit down plunge at depth and, to some extent, along strike from the known mineralized zones. There has been very little historical exploration for this type of target.�
The Company�s exploration activities are conducted under the supervision of George M. Leary, M.Sc. P. Eng. (BC), President of the Company, and Victor Tanaka, B.Sc. P.Geo.(B.C.), Chief Operating Officer of the Company. Both are qualified persons under NI 43-101. George Leary is the qualified person responsible for the technical information in this news release.
About Bayswater Uranium Corporation - The Super Junior Uranium Company TM
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
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.
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