Pencari Mining Corporation
TSX VENTURE : PMC

Pencari Mining Corporation

October 10, 2007 17:43 ET

Pencari Traces Ambatofotsy Uranium Structure for 3,000 Metres and Remains Open

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2007) - Pencari Mining Corporation (TSX VENTURE:PMC) has contracted and completed a preliminary reconnaissance of its Ambatofotsy uranium property in central Madagascar. The initial assessment was preformed by OMNIS (Office Nationale des Mines et des Industries Strategiques), a Madagascar extra-governmental agency that aids the mineral exploration industry by performing geological services that include geological mapping, trenching and soil sampling. Pencari's geological consultants direct and review the results of the OMNIS work at Ambatofotsy.

Uranium mineralization at Ambatofotsy is associated with a large, zoned pegmatite complex. Mineralization is reported to include betafite (a high uranium, columbium-tantalum mineral) and columbite-tantalite (columbium-tantalum minerals). Both minerals are important sources of tantalum, a high-tech metal used in electronics.

A strong NW-SE trending uranium anomaly has been identified from an in-house aerial radiometric survey. The OMNIS program has already extended the uranium bearing pegmatite for 3,000 metres beyond the known workings which are reported to have produced over 20 tonnes of high grade betafite "ore" prior to World War One. The zone remains open. High spectrometer readings have been detected by OMNIS along the entire trend. Spectrometer readings exceed 7,000 counts per second. All high spectrometer readings are coincident with uranium anomaly detected by an aerial radiometric survey done in September 2007. Numerous other radiometric anomalies were detected during the airborne survey and are scheduled for initial ground-truthing in the coming weeks.

Continuing geological mapping, prospecting and soil and stream sediment sampling programmes on Ambatofotsy will run in conjunction with Pencari's regional prospecting and geochemical programmes.

Information in this press release has been reviewed by Mr. Jerry Blackwell P.Geo., a qualified person under NI 43-101.

Pencari Mining Corporation is an exploration and development company publicly traded on the TSX Venture Exchange.

PENCARI MINING CORPORATION

Adrian Rollke, President, CEO & Director

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

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

Contact Information

  • Pencari Mining Corporation
    Adrian Rollke
    President, CEO & Director
    (604) 683-2808
    (604) 683-2286 (FAX)
    Email: info@pencarimining.com