COMOX, BRITISH COLUMBIA - (CCNMatthews - Sept. 25, 2006) - Signet Minerals Inc. (TSX VENTURE:SGN) is pleased to update exploration progress on the Curie uranium-gold project in the Wernecke Mountains area, Yukon. A prominent regional magnetic structure ("Olympic Structure") has been identified and traced over a minimum of 20 kilometres. Nine of the 13 known uranium showings lie on or close to this structure, with the remaining uranium showings coincident with other prominent magnetic features.
Fieldwork at Curie commenced in May and continues with scheduled ground gravity surveys. The Company has completed a comprehensive program of airborne geophysical surveys, staking, prospecting, sampling and trenching. The 2006 summer program accomplishments to date include:
- 1,500 line-km combined helicopter-borne magnetometer and electromagnetic survey.
- 1,800 line-km airborne radiometric survey.
- 5,020 hectares of staking combining for total property claim holdings of 1,063 claims encompassing 24,708 hectares.
- Prospecting and sampling of the 13 historical uranium showings and a number of radiometric anomalies.
- 18 cubic metres of Kubota excavation at the Deer showings.
The airborne magnetic, electromagnetic and radiometric surveys have identified prominent structural trends coincident with the surface uranium showings. Management is very encouraged with these results, which substantiate the potential for large uranium deposits of both unconformity style and Olympic Dam type (IOCG) on the property. The majority of the uranium showings are exposed in Quartet Group siliclastics that are underlain by graphitic schist horizons. Unconformity-style uranium mineralization may be precipitated in zones of brecciation and offset where the Olympic Structure cuts the contact between the siliclastics and the graphitic horizons. Olympic Dam/IOCG style uranium mineralization may exist at the Deer showing where there is coincidence between surface uranium mineralization, a magnetic high and a 750-metre long 3.2 mGal gravity anomaly.
All rock samples are being analyzed at the Saskatchewan Research Council (SRC) in Saskatoon for uranium, gold and multi-element ICP analysis. Mineralized and altered samples from all of the showings have also been sent to the SRC for petrographic analysis to type the uranium and/or gold mineralization and associated alteration. As required, electron microprobe analysis will be undertaken to determine the various uranium mineral species present. Analyses are pending and will be reported once received, checked and evaluated.
Tracy Hurley, PGeo, Vice President, Exploration and Qualified Person as defined by National Instrument 43-101 is responsible for the technical information provided in this release. All technical information for the Company's exploration projects is obtained and reported under a formal quality assurance and quality control program. Details of the Company's quality assurance and quality control program are presented on the Company's website at: http://www.signetminerals.ca/i/pdf/QAQC-Curie.pdf.
Statements in this press release may contain forward-looking statements. Except for statements of historical fact, all statements in this press release - including, without limitation, statements regarding future plans and objectives of the Company - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Website: www.signetminerals.ca
Tags: ,Manufacturing and Production,Mining and Metals,MINING EXPLORATION UPDATE
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