Pitchstone Exploration Ltd.
TSX VENTURE : PXP

Pitchstone Exploration Ltd.

May 25, 2010 07:00 ET

Pitchstone Received Analytical Results From Dome Property, Namibia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2010) - Pitchstone Exploration Ltd. (TSX VENTURE:PXP) -

  • Uranium up to 5,140 ppm U (0.61% U3O8) in leucogranite

  • Nine samples contain greater than 200 ppm U

  • High-definition airborne magnetic survey contracted

Pitchstone Exploration Ltd. ("Pitchstone") reports analytical results for samples of outcropping leucogranite hosted mineralization collected during the March 2010 exploration program on the Dome property, Namibia. Dome comprises 182,000 hectares and is part of a uranium exploration joint venture between Pitchstone (64%) and private company Manica Minerals Ltd. (36%) through Manica's wholly-owned subsidiary Cheetah Minerals Exploration Ltd. The property location relative to the nearby Rössing and Langer Heinrich uranium mines, and other uranium occurrences in the western Namibian uranium district, is illustrated on Pitchstone's website (www.pitchstone.net). 

The March 2010 exploration program consisted of geological mapping and sampling designed to follow up on the results of December 2009 exploration at Dome North that identified a new occurrence of radioactive leucogranite (commonly referred to as alaskite) in outcrop (see February 10, 2010 news release). Two surface grab samples collected in December contained 149 and 152 ppm U3O8. The style of mineralization is similar to that at the Rössing mine. 

A total of 54 samples of leucogranite were collected in the March program. Thirty four of these are 15 cm long core samples obtained with a portable hand drill. The others are grab samples. Nine samples, five of which were core samples, contain greater than 200 ppm U (0.024% U3O8). The highest uranium value was 5,140 ppm U (0.61% U3O8) from a grab sample containing visible yellow uranium oxide mineralization; the highest core sample contained 352 ppm U (0.042% U3O8).

The analytical results are being compiled with other data to identify targets for a reverse circulation drill program later in the year, following a planned high definition airborne magnetic and radiometric geophysical survey. The planned drill program will also test uranium mineralization in calcrete hosted targets generated by ground electromagnetic surveying and drilling late last year (see February 10, 2010 news release).

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. Field work in Namibia is supervised by Cape Town based Remote Exploration Services on behalf of the joint venture.

About Pitchstone

Pitchstone is exploring for uranium in three proven districts in Canada and Namibia. The property portfolio features 12 projects in the eastern Athabasca Basin, Saskatchewan, four of which are 100% owned. In addition, there is a joint venture on two projects in Namibia and several joint venture projects in the Hornby Bay Basin, Nunavut. 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
    or
    Pitchstone Exploration Ltd.
    Mark T. Brown
    CFO
    604 687 3520
    www.pitchstone.net