News Releases
2009 January 8
Xemplar Intersects 54 Metres Grading 0.012% U3O8 At Big Yellow
Vancouver, British Columbia, Canada, January 8, 2009 – The Board of Directors of Xemplar Energy Corp. (TSX-Venture: XE, Frankfurt: E7R, Namibia: XEM) (“Xemplar” or the “Company”) is pleased to report the assay results for a further six drill holes drilled on its Warmbad uranium project in Namibia. The geological environment is the same as that hosts the Rossing uranium mine (operated by Rio Tinto), which produced 7% of the world’s uranium in 2007, and the Valencia uranium deposit (Forsys Metals Corp.) which is subject to a CDN$579 million takeover offer.
These results, coupled with previously announced drill results from Big Yellow East, West, and Centre Zones, continue to expand the size of the three mineralized zones that have been identified. The grades encountered are consistent with the grade of the Valencia deposit.
Further assay results from the 2008 drill program are forthcoming.
Highlights of chemical assay results from the Company’s drill program at Big Yellow include:
Big Yellow West, Hole RCBYW0013:
- 54 metres grading 0.012% U3O8, from 22 metres to 76 metres.
- 5 metres grading 0.010% U3O8, from 138 metres to 143 metres.
Big Yellow Centre, Hole RCBYW0029:
- 10 metres grading 0.036% U3O8 from 40 metres to 50 metres, including 1 metre at 0.202% (2,016.1 parts per million) from 47 metres to 48 metres.
- 4 metres grading 0.016% U3O8, from 84 metres to 88 metres.
Big Yellow West, Hole RCBYW0010:
- 6 metres grading 0.027% U3O8, from 44 metres to 50 metres.
- 6 metres grading 0.010% U3O8 from 62 metres to 68 metres.
Big Yellow West, Hole RCBYW0016:
- 10 metres grading 0.017% U3O8, from 27 metres to 37 metres.
- 5 metres grading 0.012% U3O8 from 175 metres to 180 metres.
Big Yellow West, Hole RCBYW0014:
- 4 metres grading 0.014% U3O8, from 72 metres to 76 metres.
- 5 metres grading 0.012% U3O8, from 82 metres to 87 metres.
- 3 metres grading 0.017% U3O8 from 94 metres to 97 metres.
Big Yellow West, Hole RCBYW0015:
- 7 metres grading 0.010% U3O8, from 61 metres to 68 metres.
- 7 metres grading 0.012% U3O8, from 71 metres to 78 metres.
Please refer to the assay tables in the appendix of this news release for a complete summary of chemical assay results from the above 6 holes. Assays greater than 100 parts per million, or 0.010% U3O8 over one metre are reported.
Xemplar Energy plans to execute a balanced exploration drill program combining definition and development drilling with the primary objective of defining a resource for its Warmbad project. The exploration program in 2009 will entail:
- Drilling to extend the size of the mineralized zones at Aluriesfontein and Big Yellow.
- Aggressively continue with surface exploration and drilling at Aluriesfontein, Big Yellow East, Centre and West, Houms River, Girtis, and Gaobis/Energy Ridge to define new zones of mineralization.
- The size of the drill program will be dependant on the requirements to achieve the above goals. The Company owns 10 drills which will be used on the various drill sites.
Other News
The Board of Directors of Xemplar Energy will be hosting an investor conference call on Wednesday, January 14, 2009. Please refer to the Company website, http://www.xemplar.ca for details.
About Xemplar Energy Corp.
Xemplar Energy Corp. is a Canadian-based resource company focused on uranium exploration in Namibia. Through Namura Mineral Resources Pty., its wholly-owned Windhoek, Namibia-based subsidiary, the Company currently holds Exploration Prospecting Licenses (EPL) for the Cape Cross, Aus, Garub and Warmbad properties totaling 7,382 square kilometers.
The primary focus of Xemplar Energy’s work in Namibia is the Warmbad project, where the Company has been actively engaged in an exploration drilling program where significant zones of uranium mineralization are being outlined. The company had originally identified 14 large, radiometrically anomalous alaskitic bodies, which has since been redefined as five larger bodies as some of the original alaskite bodies merge with each other. Of these, the Aluriesfontein is the largest, covering 36 square kilometres. Within these bodies, zones of uranium mineralization are being outlined. Alaskitic rocks also host the Rossing mine in Namibia, which produced 3,046 tonnes, representing 7% of the global production of uranium oxide in 2007.
With $16.0 million (CDN) cash on hand, the Company is in a strong financial position to execute its exploration programs for the next 24 months.
Mike Magrum, P.Eng., a qualified person under National Instrument 43-101, has approved the technical content of this news release.
On behalf of the Board of Directors,
Xemplar Energy Corp
Simon Tam
CEO and Director
Appendix 1: Detailed Assay Results (using a 100 parts per million <PPM> / 0.01% U3O8 cut-off grade)
Big Yellow West
| Drill Hole |
From (metres) |
To (metres) |
Width (metres) |
Grade PPM U3O8 |
Grade Pct. U3O8 |
| RCBYW0010 |
33 |
36 |
3 |
117.7 |
0.012% |
|
44 |
50 |
6 |
273.5 |
0.027% |
includes |
48 |
49 |
1 |
356.2 |
0.036% |
includes |
49 |
50 |
1 |
673.9 |
0.067% |
|
56 |
57 |
1 |
108.1 |
0.011% |
|
62 |
68 |
6 |
104.6 |
0.010% |
|
78 |
80 |
2 |
118.4 |
0.012% |
|
86 |
87 |
1 |
167.6 |
0.017% |
|
153 |
154 |
1 |
173.4 |
0.017% |
| |
|
|
|
|
|
| RCBYW0013 |
22 |
76 |
54 |
119.6 |
0.012% |
includes |
30 |
31 |
1 |
340.3 |
0.034% |
includes |
49 |
50 |
1 |
200.4 |
0.020% |
includes |
57 |
58 |
1 |
235.5 |
0.024% |
includes |
67 |
68 |
1 |
268.3 |
0.027% |
includes |
71 |
72 |
1 |
278.0 |
0.028% |
|
83 |
84 |
1 |
103.0 |
0.010% |
|
111 |
112 |
1 |
106.2 |
0.011% |
|
138 |
143 |
5 |
103.9 |
0.010% |
|
146 |
147 |
1 |
101.7 |
0.010% |
|
153 |
154 |
1 |
106.7 |
0.011% |
|
159 |
160 |
1 |
103.2 |
0.010% |
| |
|
|
|
|
|
| RCBYW0014 |
59 |
60 |
1 |
105.9 |
0.011% |
|
72 |
76 |
4 |
135.9 |
0.014% |
|
82 |
87 |
5 |
122.9 |
0.012% |
|
94 |
97 |
3 |
173.1 |
0.017% |
| |
|
|
|
|
|
| RCBYW0015 |
61 |
68 |
7 |
104.2 |
0.010% |
|
71 |
78 |
7 |
117.7 |
0.012% |
|
82 |
83 |
1 |
133.9 |
0.013% |
|
161 |
163 |
2 |
122.9 |
0.012% |
| |
|
|
|
|
|
| RCBYW0016 |
27 |
37 |
10 |
167.9 |
0.017% |
includes |
27 |
28 |
1 |
211.7 |
0.021% |
includes |
30 |
31 |
1 |
253.3 |
0.025% |
|
88 |
90 |
2 |
166.3 |
0.017% |
|
133 |
134 |
1 |
133.8 |
0.013% |
|
175 |
180 |
5 |
124.2 |
0.012% |
includes |
178 |
179 |
1 |
267.8 |
0.027% |
Big Yellow Centre
| Drill Hole |
From (metres) |
To (metres) |
Width (metres) |
Grade PPM U3O8 |
Grade Pct. U3O8 |
| RCBY0029 |
40 |
50 |
10 |
363.2 |
0.036% |
includes |
47 |
48 |
1 |
2,016.1 |
0.202% |
includes |
48 |
49 |
1 |
481.5 |
0.048% |
includes |
49 |
50 |
1 |
276.1 |
0.028% |
|
84 |
88 |
4 |
162.1 |
0.016% |
includes |
84 |
85 |
1 |
402.8 |
0.040% |
|
94 |
95 |
1 |
100.2 |
0.010% |
| |
196 |
197 |
1 |
437.4 |
0.044% |
Appendix 2 - Interpretation of Chemical Assay Results
All samples were analyzed for U3O8 at Set Point Laboratories in Isando, South Africa. The reader is cautioned to view chemical assay results as a collective set of data (please refer to past news releases for other drill results which are found on the Company’s website, http://www.xemplar.ca), and not to draw conclusions based on the results presented in each news release independent of each other.
The objective of the first phase of drilling, which the Company is currently undertaking, is to outline mineralized bodies at the Warmbad project. Given the vast size of the Warmbad project, this phase of drilling will continue beyond the initial 40,000 metres that was completed in 2008. As the Company outlines mineralized bodies, additional drilling will take place (on the outlined mineralized bodies with the objective of extending the identified mineralized zones of continuity) in conjunction with exploratory drilling at other alaskite bodies at the Warmbad project to identify additional mineralized zones of continuity.
Though the exploration program at the Warmbad project is in the early stages, the cumulative results of the ongoing drill program are viewed as very encouraging by the Company’s Board of Directors. The results show mineralization to depth and are allowing the Company to define outlines of the mineralized bodies. These early-stage drilling results show that relatively thin sheets of leucogranites with uranium mineralization are present in a setting similar to the Rossing uranium mine in Namibia, the fifth largest uranium mine in the world. Furthermore, the grades that are being reported with regularity are consistent with the grades at Forsys Metals’ Valencia Deposit (which has reported grades of approximately 110 PPM or 0.011% U3O8).
The Company utilizes a cut off point of 100 parts per million (or 0.01%) U3O8 for its public reporting; so in some cases, there are intervals that show mineralization that are not reported. The data that is not reported is of tremendous value to the Company as it is utilized to assist in outlining the mineralized bodies.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
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