News

Xemplar starts Uranium Exploration in the Otish Mountains, Quebec, with Airborne Geophysics

Xemplar Energy Corp. (the "Company") is pleased to announce the results of a helicopter-borne Aerotem II and magnetometer survey flown by Aeroquest Ltd. over its 600 km2 Otish Mountains Uranium properties. The survey covered 1,740 km on 200 m spaced lines.

The survey detected a 20 km2 Archean greenstone belt under shallow cover of proterozoic sediments of the Otish Basin. This belt features long linear magnetic and conductive trends and an historic uranium showing (Lorenz Gully) on Xemplar's land. The airborne survey also mapped long linear fault zones. This includes a 6km long fault zone with an historic drill intercept of 0.45% U2O8 over 1 m.

The Otish Basin has many similarities with the Athabasca Basin where high grade uranium deposits (unconformity style) are associated with iron rich (conductive and/or magnetic) horizons in the Archean at the contact between proterozoic sediments and the Archean. In addition to the potential for unconformity related uranium deposits, the Otish basin has uranium mineralization hosted within the sediments along faults. The Otish region was the focus of uranium exploration in the 1970's and 1980's and Cogema and Soquem defined the L zone mineralization: 5.9 million lbs of U3O8, at a grade of 0.7% - a historic, not verified, number that does not conforming with NI 43-101 definitions of reserves or resources.

Since 2004 companies like Cameco and Strateco Resources Inc. are exploring large land positions near Xemplar's lands: Cameco is exploring a greenstone belt under shallow cover of Otish sediments and Strateco has announced high grade uranium mineralization in drill intercepts along the 7 km long Matoush fault, including 1.33% U3O8 over 11.3 m in hole MT-06-5 (NR Sept 11, 2006)

M. Magrum P.Eng., a director of the Company said: "The definition of a large area favourable for unconformity uranium deposits in combination with drill targets along fault zones with historic intercepts of uranium puts Xemplar in a prime position for the exploration of this newly emerging uranium belt"

The Company focuses on uranium exploration. It has assembled a large strategic land positions in the uranium belts of Namibia, Africa and in the Otish Mountains of Quebec. The Company has gathered a team of geologists and directors not only with extensive experience in uranium exploration, but also with expertise in raising exploration capital and building shareholder value through new acquisitions and exploration success. Andre M Pauwels P.Geo, a qualified person under National Instrument 43-101, has approved the technical content of this news release.

Xemplar Energy Corp.

Simon Tam
Director

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Go back to the previous page