Rampart Ventures Ltd.
TSX VENTURE : RPT

Rampart Ventures Ltd.

May 24, 2006 15:27 ET

Rampart Commences Drilling Uranium Targets in the Sibley Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 24, 2006) - Rampart Ventures Ltd. (TSX VENTURE:RPT) has commenced a 10,000-metre program of deep diamond drilling on its 165,000 acre Black Sturgeon uranium property in the Sibley basin, Thunder Bay district, Ontario. It is anticipated that the drill program will take 3 to 4 months to complete. Each drill hole is expected to be between 600 and 800 metres deep.

Rampart's 2005 program of surface work and shallow diamond drilling located nine separate uranium occurrences in the Split Rapids area on the east side of the Sibley basin, where the Black Sturgeon fault has raised Archean basement rocks to surface. The Split Rapids occurrences are closely associated with iron formation in the basement. Values of up to 2.99 per cent U3O8 over 1.5 metres were intersected in drilling. Iron formations have a strong and distinctive magnetic expression, which allows these favourable units to be traced under sedimentary cover where any unconformity-related uranium mineralization will be completely preserved.

The first drill hole of the program, BSW-06-01 will test a magnetic anomaly that is the direct strike extension of the Split Rapids uranium trend. The unconformity, where the Sibley basin sediments rest on Archean basement, is believed from geophysical evidence to be about 500 metres deep at this location.

In addition to drill-testing of magnetic anomalies, Rampart will also focus on drilling conductors defined by a deep-penetrating VTEM airborne survey. Drilling conductors has been the primary exploration technique in the Athabasca basin of Saskatchewan, and has been responsible for locating uranium orebodies such as McArthur River, which contains over 400 million pounds of U3O8. At today's uranium price of US$43.00 per pound, such a deposit has a gross value of over $17 billion.

Rampart is the largest landholder in the Sibley basin, of which 109,040 acres are subject to an agreement with New Shoshoni Ventures Ltd. (see news in Stockwatch Sept. 30, 2004).

Technical information in this news release has been reviewed by Colin Bowdidge, PhD, P.Geo, a qualified person under National Instrument 43-101. For more information on the Company's Sibley basin project and the other prospective uranium projects held by Rampart, please visit the Company's website at www.rampartventures.com.

Nelson Baker, President, Rampart Ventures Ltd.

The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from targeted results. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The Company relies upon litigation protection for forward looking statements.


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

Contact Information