Amseco Exploration Ltd.
TSX VENTURE : AEL

Amseco Exploration Ltd.

November 01, 2007 07:30 ET

Amseco Takes Uranium Properties in Havre St-Pierre, Cote-Nord, Quebec and Kipawa Uranium District, Temiscamingue

PIEDMONT, QUEBEC--(Marketwire - Nov. 1, 2007) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") has acquired a 100% interest in two properties described below. Amseco is earning its interest by paying $80 000 and issuing 750 000 shares of its share capital to a 6761976 Canada Inc & Associates, subject to the approval of the TSX Venture Exchange.

HAVRE ST-PIERRE IN COTE-NORD, QUEBEC

The new property consist of 2 claim blocks totalling 31 mining titles covering approximately 1,674 hectares and is located near Havre-St-Pierre and Baie Johann-Beetz, Quebec. All claims are located in the Courtemanche township and are easily accessible by the Provincial Highway #148, giving year round access. The property falls within the Precambrian Grenville type rocks and more precisely the South-Eastern rim of the Wakeham basin. This 100 km wide and 150 km long proterozoic sedimentary basin is located North of Havre St-Pierre and Natashquan. It hosts numerous uranium showings and is very similar to other Quebec proterozoic basins as the Otish, Mont-Laurier and Sakami basins. The property cover a similar geological environment which host number of uranium bearing pegmatites dykes observed in the area. An area located south of the property is charactherized by a showing having an average grade of 0.023% U3O8 over 9 metres (MRNFQ files).

Since the mid-eighties, very little uranium exploration work was conducted in this part of Quebec. Recently, with higher prices for uranium, this situation has changed and several companies have been staking claims on Quebec's North Shore. Previous work realized in this area lead to the recognition of uranium mineralization typical of the Namibian Rossing-type deposits (low grade and high volume deposit).

KIPAWA URANIUM DISTRICT, TEMISCAMINGUE

The new property consist of 2 claim blocks totalling 63 mining titles covering approximately 3654 hectares in Temiscamingue, Quebec. The Hunters Point Block consist of 49 claims located in the Atwater, Bruchesi and Pommeroy Townships. The Donney Block consist of 14 claims located in the McLachlin Township, 10 kilometres east of the Previous Block.

The Hunters Point Block may be reached by road from St.Place de Bearn, 56 km to the northwest or by float plane from Kipawa, 27 km to the southwest. The Donney Block may only be reached by float plane from Kipawa.

The property do not host uranium showing but is located 2 km west of the main and well described Hunters Point Uranium Showing. In 2005 Globex Mining Enterprises which optioned the property to Noront Resources in 2006 reported values in surface grab samples up to 7.7% U3O8 and 1.12 oz/ton gold reported in surface grab samples. The property falls within the same geological environment which are characterized the Precambrian Grenville type rocks consisting of formations of parageneiss, quartzite, granite gneiss and garnet gneiss. The property in a regional sense is on the western outer edge of a large basinal structure which may be a synclinorium (MRNFQ files). Since the mid-eighties, very little uranium exploration work was conducted in this part of Quebec. Recently, with higher prices for uranium, this situation has changed and several companies have been staking claims in Temiscamingue.

Mr. Bertrand Brassard, P.Geo., M.Sc. Technical Advisor, a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Amseco Exploration Ltd.
    Bertrand Dufour
    President and Chief Executive Officer
    450-240-0521
    450-240-0522 (FAX)