Pitchstone Exploration Ltd.

Pitchstone Exploration Ltd.

April 21, 2009 07:00 ET

Pitchstone Exploration Ltd.: Uranium Mineralization Discovered in Namibia

- Yellow uranium oxides in calcrete-style setting - Assays up to 0.19% U3O8

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2009) - Pitchstone Exploration Ltd. (TSX VENTURE:PXP) ("Pitchstone") is pleased to report the discovery of uranium mineralization on the Dome property in Namibia. The project is a joint venture between Pitchstone (55%) and private company Manica Minerals Ltd. (45%) through Manica's wholly-owned subsidiary Cheetah Minerals Exploration Ltd. The property is located 65 kilometers south-southwest of the Rossing uranium mine and 60 kilometers southwest of the Langer Heinrich uranium mine.

The zone of uranium mineralization was discovered by prospectors during an exploration program completed in March. Five of six grab samples from the zone are mineralized and contain 196 to 1,620 ppm uranium (0.03-0.19% U3O8). Mineralization consists of a yellow uranium-vanadium oxide (carnotite?) that occurs within infrequently exposed conglomerate over a 2.5 kilometer long portion of a dry drainage channel.

The area explored with scintillometer prospecting and sampling, in the northern part of the Dome property, measures 10 x 35 kilometers, and is considered to be prospective for calcrete-style uranium mineralization similar to the Langer Heinrich deposit. Most of the area can be characterized as a plain covered by a thin but widespread gypsum-cemented hard surface crust (duricrust). The drainage channel has locally cut into the duricrust plain to a depth of up to 1 meter and exposed gypsum and calcite cemented conglomerate.

Outcrop exposure of the mineralized conglomerate is sparse and its thickness and areal extent are not known. A ground electromagnetic survey is planned for May to define the extent of the conglomerate ahead of a drilling program. Field work is being conducted by Cape Town-based Remote Exploration Services on behalf of the joint venture.

South Dome Drilling Results

A drilling program to test a Rossing-style target in the southern part of the Dome property was completed in January (Feb. 26, 2009 news release). Drilling confirmed the geological model and one hole intersected leucogranite similar to that which hosts uranium mineralization at Rossing. All geochemical analyses have now been received from the laboratory; no significant uranium mineralization was encountered.

Steve Blower, P.Geo., President of Pitchstone, is the Qualified Person for the purposes of NI 43-101 with respect to the technical information in this news release. Sample preparation and analyses were done by ALS Chemex, Johannesburg. A multi-element ICP-MS analysis was completed on the samples after a four acid near-total digestion. Pitchstone utilizes internally and externally submitted standard reference materials for quality assurance and quality control of the sample preparation and analyses.

About Pitchstone

Pitchstone is well funded and exploring for uranium in four proven districts. The property portfolio features 11 projects in the eastern Athabasca Basin, Saskatchewan, three of which are 100% owned. In addition, there are four joint venture projects in the Hornby Bay Basin, Nunavut, an exploration partnership in the Franceville Basin, Gabon, and an option on two projects in Namibia. Pitchstone benefits from the collaboration of a unique group of geologists with extensive uranium exploration and production experience.

On behalf of the Board,

E.A.G. (Ted) Trueman, CEO & Chairman

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond Pitchstone's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pitchstone Exploration Ltd.
    Claire Stewart
    604 630 5563
    Pitchstone Exploration Ltd.
    Mark T. Brown
    604 687 3520