All Star Minerals plc
LSE : ASMO

December 21, 2011 02:00 ET

Update On The Gilpas Uranium Project

                                                                         GB00B12T7004/GBP/PLUS-exn
                                                                                  21 December 2011

                                       All Star Minerals plc
                            ("All Star" or the "Company") (PLUS: ASMO)
                                                 
                               Update On The Gilpas Uranium Project

All Star Minerals  plc today announces  an  update  on  its  Gilpas  uranium  project  in  Sweden.

THE GILPAS URANIUM PROJECT

In  mid-August a bedrock interface drilling programme commenced at the Gilpas uranium project. The
objective  of  the drilling programme was to test selected points along a series of  four  sampled
lines that perpendicularly crosscut the highly anomalous radon zone in the glacial till.

Low  uranium  content has been returned from the bedrock samples assayed, whilst enhanced  uranium
content  has been obtained in a number of the glacial till samples collected above the bedrock  in
the areas of high radon gas measurements.

The  results  of the bedrock interface drilling programme show that the previously  reported  high
radon  results in the glacial till soils in the area are more likely related to the  dispersal  of
uranium bearing material in the till from an unknown source, and has no relation to the uranium in
the directly underlying bedrock.

The  results  indicate that the bedrock source of the historically noted high  grade  boulders  at
surface  hosting  up to 29% (290,000 parts per million) uranium is located in the  up-ice  glacial
flow direction close to and north-west of the most north-westerly line of sampling.

New  work  programmes  for the next phase of drilling at Gilpas, as well as  the  Samon  iron  ore
target,  are  being  submitted to the Swedish Mines Inspector. It is envisaged that  the  drilling
programmes will commence at the projects in April and May 2012 respectively.

A  map of the drilling results with the uranium bedrock target source will shortly be published on
the Company's website. To view this map please visit http://www.allstarminerals.com/gilpas.htm

Conrad  Windham,  CEO  of All Star Minerals, commented: "The results from  the  bedrock  interface
drilling  programme  have  confirmed  our  belief that Gilpas  hosts  high-grade  bedrock  uranium
mineralization.  The  dispersed uranium bearing material in the glacial  till  that  returned  the
anomalous  radon  gas  zones  was  clearly deposited from the high-grade  boulders  discovered  in
1980/1981. The results have shown us that the bedrock source of the high-grade boulders is further
up-ice, which is where the next phase of drilling at Gilpas will be focussed.

In  order  to expedite the development of All Star's projects operations will now be  led  by  SRK
Consulting (Sweden), who will work alongside Jan-Ola Larsson."

The Directors of All Star are responsible for the contents of this announcement.


Enquiries:

ALL STAR MINERALS PLC
Conrad Windham, CEO
Telephone: 020 3130 0674
E-mail: c.windham@allstarminerals.com
Website: www.allstarminerals.com

CORPORATE ADVISOR
St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Telephone: 020 7368 6959

BROKER
SVS Securities plc
Ian Callaway or Alex Mattey
Telephone: 020 7638 5600

FINANCIAL PR
Threadneedle Communications
Beth Harris/Laurence Read
Telephone: 020 7653 9850

Contact Information

  • All Star Minerals plc