Aldershot Options High Grade Uranium Properties in Quebec.VANCOUVER, British Columbia -- Jeremy Caddy, President of Aldershot Resources Ltd. (the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ALZ), is pleased to report that the Company has entered into option agreements pursuant to the terms of which it has been granted the right to acquire 100% interests in two groups of mineral claims in the Province of Quebec located approximately 70 km north west of Ottawa. The first group, known as the Pool Group (42 claims), is located in Huddersfield and Clapham Townships. The second group, known as the Halliwell Group (17 claims), is located in Huddersfield, Clapham and Pontefract Townships. The Pool Group adjoins the Halliwell Group and the Company is incorporating both groups of claims into a large uranium camp. It is also staking additional claims in the area. Aldershot's right to the Pool and Halliwell Groups represents a unique opportunity for the Company to revisit a known uranium district which was last explored as much as 50 years ago and overlooked in the current uranium rush. The Company may earn its 100% interest in the two groups of claims as follows: As to the Pool Group, for the purchase price of $140,000, the issuance of 750,000 shares and exploration expenditures of $500,000 all over a five year period. The Company is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to pay the vendor $15,000 upon receiving regulatory approval and to carry out exploration expenditures of $50,000 during the initial year; as to the Halliwell Group, for the purchase price of $100,000, the issuance of 500,000 shares and exploration expenditures of $400,000 over a five year period. The Company is obligated to pay the vendor $10,000 upon receiving regulatory approval and to carry out exploration expenditures of $40,000 during the initial year. The Company's consulting geologist, Dr Peter LeCouteur P.Eng., a Qualified Person, writes, "The 10 claim groups that make up the Aldershot Options are located in south western Quebec and are underlain by rocks of the Grenville Province. These include granitic gneiss gneiss (nīs), coarse-grained, imperfectly foliated, or layered, metamorphic rock. Gneiss is characterized by alternating light and dark bands differing in mineral composition and having coarser grains than those of schist. , paragneiss, migmatite migmatite Rock composed of a metamorphic host material that is streaked or veined with granite; the name means “mixed rock.” Many migmatites probably represent partial fusion of the metamorphic host; some components of the rock are fused and gather to produce , amphibolite amphibolite Igneous or metamorphic rock composed largely or dominantly of amphibole minerals. For igneous rocks, the term hornblendite is usually used and is more restrictive; hornblende is the most common amphibole. , quartzite quartzite, usually metamorphic rock composed of firmly cemented quartz grains. Most often it is white, light gray, yellowish, or light brown, but is sometimes colored blue, green, purple, or black by included minerals. , arkose arkose Coarse sandstone that has formed by the disintegration of granite without appreciable decomposition. It thus consists primarily of quartz and feldspar grains. , marble, and calc-silicate zones in marble. Later pegmatites and granites are common and form dikes and small bodies. "Uranium was discovered in this general area in 1953 and exploration in the following few years located many more radioactive occurrences. Radioactive zones were found in a variety of rock types, including seams in gneiss, disseminations in granite and pegmatite pegmatite: see granite. pegmatite Almost any wholly crystalline igneous rock that is at least in part very coarse-grained, the major constituents of which include minerals typically found in ordinary igneous rocks (such as granites) and in which , and in marble and calc-silicates. The more important occurrences in the area are associated with apatite apatite (ăp`ətīt), mineral, a phosphate of calcium containing chlorine or fluorine, or both, that is transparent to opaque in shades of green, brown, yellow, white, red, and purple. , fluorite fluorite (fl  `ərīt) or fluorspar (fl and pink calcite zones in
marble. In some cases the U-Th mineralization MineralizationThe process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. is also associated with significant sulphide content, including molybdenite molybdenite (məlĭb`dənīt, mō–), a mineral, molybdenum disulfide, MoS2, blue-gray in color, with a metallic luster and greasy feel. , chalcopyrite and sphalerite sphalerite (sfăl`ərīt, sfā`–), mineral composed of zinc sulfide, usually containing some iron and a little cadmium. It occurs in crystals of the isometric system but more generally in cleavable, compact masses. . The main primary U-Th minerals identified are uranothorianite and uranothorite, and there is some secondary uranium (uranophane and gummite gum·mite n. An orange-red to grayish yellow mixture of several uranium oxides, silicates, and salts occurring naturally in the oxidation and hydration of uraninite. ). Thorium thorium (thôr`ēəm) [from Thor], radioactive chemical element; symbol Th; at. no. 90; at. wt. 232.0381; m.p. about 1,750°C;; b.p. about 4,790°C;; sp. gr. 11.7 at 20°C;; valence +4. predominates over uranium, with the Th/U ratio varying from about 2:1 to 30:1. "Previous work carried out on the Aldershot Option claims has been quite extensive, and includes air and ground scintillometer surveys, stripping of overburden and washing of bedrock, test pitting and trenching, and diamond drilling. A summary of work done on some of the Aldershot Option follows:" The Pool Group of Claims "In the years 1955-57 Pool Mining Corp located about 50 radioactive zones on 12 claims, only 10 of which were explored in any detail. Twelve analyses from 3 of these showings gave U3O8 values in the range 0.01% to 0.78% U3O8, and 0.02 to 28% ThO2." For details, kindly refer to the following table.
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U3O8 Chemical ThO2
Showing Analysis (%) Indicated (%)
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5 0.45 15
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5 0.42 8.5
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5 0.50 4
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6 0.49 15
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6 0.63 20
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6 0.78 14
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6 0.65 16
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6 0.46 17
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7 0.69 28
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7 0.62 15
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7 0.41 13
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7 0.01 0.4
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"Prospecting by Lake Otter Mines Ltd in 1954 located 2 main showings, one of which yielded a grab sample of 2.68% U3O8 and 16.4% ThO2. In 1955 Panorama Mines Ltd carried out 32.9 miles of ground scintillometer surveying and found 8 radioactive zones. Work on a property of William Leys Mining Corp Ltd in 1955 located several extensive radioactive zones, and a grab sample from one trench in granitic rocks with sulphides gave 1.97% U3O8." The Halliwell Group of Claims "Work in 1954 on ground owned by Consolidated Halliwell Mines included a scintillometer survey, stripping of 15,560 cu ft of overburden, 16 trenches excavated 421 cu ft in bedrock, and diamond drill holes totaling 1825.5 ft were drilled. Assays of between 0.1 and 0.5 % U3O8 were obtained in red and grey granite and biotite biotite (bī`ətīt'), iron-rich variety of phlogopite, most abdunant of the mica minerals. biotite or black mica Silicate mineral in the common mica group. gneiss. In 1976 and 1977 Augmitto Exploration Ltd prospected, made scintillometer surveys, and followed up with bulldozer stripping and trenching. In 1978 Carling Copper Mines Ltd drilled 8 diamond drill holes (total 1498 ft) and obtained intersections as high as 3.76 lb per ton U3O8 over 1.8 ft, mainly in quartzite and arkose. Copconda Mines Ltd carried out drilling in 1978-1980, drilled 17 diamond drill holes totaling 4305.3 ft, analyzed 65 intervals from 1 to 10 ft, and obtained results between 0.04 and 1.74 lb per ton U3O8. These intervals were mainly in quartzite, arkose, pink and grey gneiss, hornblende hornblende: see amphibole. hornblende Any of a subgroup of amphibole minerals that are calcium-iron-magnesium-rich and monoclinic in crystal structure. gneiss and pink granite. "Claims in the general area that are not part of the Aldershot Option claims, also received considerable work beginning in the 1950's and five significant U zones were located on these nearby blocks. Little work appears to have been done since about 1980. The target of principal interest is zones of uranothorianite that occur in marble and pyroxenite pyroxenite Dark medium- to coarse-grained igneous rock that consists chiefly of pyroxene. Accessory minerals include hornblende, biotite, or olivine. Pyroxenites are not abundant. , perhaps related to pegmatite intrusions." Further to the Company's News Release dated May 12, 2005, the private placement disclosed therein has netted Aldershot $1.26 million and management plans to commence work on the Pool and Halliwell Groups in June 2005 with an initial airborne scintillometer survey over its large holdings to be followed up by a ground survey to open up old workings and sample radiometric highs. FOR AND ON BEHALF OF THE BOARD ALDERSHOT RESOURCES LTD Jeremy Caddy, President and Director Visit Aldershot Resources' Web-site: www.aldershotresources.com. This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein. Information in this report, insofar as it relates to resources' estimation and exploration activities, is based on information compiled by Dr Peter LeCouteur P.Eng. who is a consultant to the Company and who has more than ten years experience in the field of the activity being reported on. This report accurately reflects the information compiled by this Professional Engineer. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release. Aldershot Resources Ltd. (TSX VENTURE:ALZ) |
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