| ||September 14, 2006|
Mesa Intersects Uranium In Drilling
| ||Mesa Uranium Corp. ("Mesa") is pleased to report results for five drill holes from its ongoing Phase I drill program at the 100% owned Lisbon Valley uranium project in Utah, USA. Mesa recently announced that its first three drill holes contain anomalous uranium mineralization (news release dated 8/17/2006). In addition to the five drill holes announced here, two more holes have been drilled and results will be announced when received. |
A total of 10 Phase I drill holes have been completed with a total length of 8,132 meters. The Phase II drilling campaign is in the final stages of permitting and will be described in a news release upon receipt of permits.
Mesa's Phase I drilling has identified significant uranium mineralization within the favorable Moss Back sandstone, the primary host of the 85 million pounds of uranium produced in the Lisbon Valley Mining District. Mesa is encouraged that all holes drilled to date intercepted significant uranium values over a wide area (1,800 meters by 1,100 meters) and indicate the presence of a mineralized uranium system.
Current Drill results are as follows, depths are to the base of mineralization:
Hole Depth Thickness eU308 % Formation
L-4 2572' 1.5' 0.092 Moss Back
L-5 2527' 3.0' Anomalous Moss Back
L-6 2539' 2.9' Anomalous Moss Back
L-7 2548.5' 6.5' 0.025% Moss Back
Includes 2548.5' 2.0' 0.047% Moss Back
L-8 2752' 6.0' Anomalous Moss Back
The uranium mineralization exhibited in drill holes L-4 and L-7 trends across a large tract of land controlled by Mesa and toward the adjacent Lisbon Mine, the largest historic mine in the District. This strongly anomalous mineralization increases the prospectivity of this large area which has not yet been drilled.
The current drill spacing is approximately 200 to 500 meters between drill holes, with the drill pattern covering about 200 hectares. Mesa currently controls 7,000 hectares (27 square miles) of prospective ground in the Lisbon Valley Mining District and continues to expand its land position.
Bob Beeman Drilling of Moab, Utah is the drilling contractor. Sample recovery for lithologic and trace element analysis is excellent.
Gamma, Spontaneous Potential (SP), and Resistivity values were logged by Jet West Geophysical Services of Farmington, New Mexico. The Gamma portion of the downhole logging tool was calibrated by uranium-industry standard values located in mines at Grants, New Mexico. In situ uranium grades, expressed as equivalent U3O8 (eU3O8) are calculated using the digital gamma ray values acquired by the down hole logging tool and uranium industry standard techniques for gamma log interpretation. Downhole gamma log interpretation has historically been found to be an accurate representation of in situ grades for uranium mineralization in the Lisbon Valley District. Chemical assays of samples were completed that will be used to determine relative trace element concentrations as a guide to future drilling.
Of the 85 million pounds of uranium produced in the District, 63 million pounds were produced from 15 mines that occur along a mineralized trend that is ½ mile wide and 16 miles long. This mineralized trend is on the southwestern flank of a faulted anticline and is primarily hosted by the Moss Back member of the Triassic Chinle sandstone. During the 1960's, miners and geologists working in the District observed this trend and postulated a genetic relationship between the uranium deposits and the anticline, predicting that more mines should occur on the northeastern side of the faulted anticline in a similar pattern as the southwestern flank.
With this geologic framework in mind, exploration efforts focused on the northeastern side of the anticline in the hopes of discovering what could be the other half of the District. The exploration concept was validated in 1968 with the discovery of the 22 million pound Lisbon mine on the northeast side of the anticline. Mesa is currently conducting exploration adjacent to the Lisbon mine. The Company controls a large land position (27 square miles) in the District.
The Lisbon Valley district accounted for over 80% of the uranium mined in the state of Utah and had some of the highest uranium grades in the United States, averaging 0.4 percent uranium. The Lisbon Valley Mining District is located in the Colorado Plateau region, 30 miles south of Moab in San Juan County, Utah.
The project area is fully described in a current National Instrument 43-101 compliant report available for examination on www.mesauranium.com and on www.sedar.com. A map illustrating the location of the current drilling is available on Mesa's website on the Lisbon Valley Project maps page at http://www.mesauranium.com/i/maps/2006-07-26_NRM.jpg.
The Lisbon Valley Uranium Project is managed by Gregory French, P. Geo., a Qualified Person as defined by National Instrument 43-101 guidelines. This Press Release has been prepared and revised under the supervision of Gregory French, VP Exploration for Mesa responsible for its projects.
ON BEHALF OF THE BOARD
MESA URANIUM CORP.
(signed) Greg French, Vice President, Exploration
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
For further information call:
Wayne Marsden, toll free 866-337-1235
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
You can view the Next News Releases item: Wed Sep 20, 2006, Mesa Retains Longview Strategies To Provide Investor Relations
You can view the Previous News Releases item: Thu Aug 17, 2006, Mesa Drilling Results for Three Holes
You can return to the main News Releases page, or press the Back button on your browser.