Western Uranium Corporation Announces Drill Results from Kings Valley
Tuesday, July 31st, 2007
Western Uranium Corporation is pleased to announce the following drill hole results for the Kings Valley Uranium Project, Nevada. This drill program was designed to follow-up and expand on results returned from KV-19 drilled in 2006 (Moonlight Mine Area) which intercepted 27.4 meters @ 0.180% U3O8, 10.7 meters @ 1.26 g/t gold, 13.7 meters @ 38.7 g/t silver and 19.8 meters @ 0.021% Molybdenum (results previously announced in October 2006). Seven additional reverse circulation drill holes, KV-21 through KV-27, have been completed in this area. Highlights from this program include KV-22 which intercepted 21.3 meters of 0.253% U3O8 and KV-23 with 36.6 meters of 0.036% U3O8. In addition KV-25 contained 2 intervals with strongly elevated gold values including 6.1 meters of 0.51 g/t gold and 32 meters of 0.51 g/t gold. Metal and trace element geochemical signatures indicate two distinct mineralizing events, one, epithermal gold and the other a hypogene uranium event.
As of July 12, 2007, WEDC has completed 16 reverse circulation holes, totaling 2306 meters. Seven holes were drilled in the Moonlight Mine area KV-21 through KV-27; six holes have been completed in the South Zone, KV-28 through KV-33, and three holes, KV-34- through KV-36 in the North Zone. Drill samples have been submitted to American Assay Laboratories in Sparks, Nevada. WEDC has received analytical results for drill holes KV-21 through KV-29. Assay results for KV-30 through KV-36 are pending. Drilling is on-going and will continue throughout the remainder of 2007. Initial results from the drilling are listed below.
Kings Valley Uranium Project2007 Initial Drill Results
Drill Hole, From(m), To(m), Apparent Thickness, Grade
KV – 21 No Significant Results (NSR)
KV – 22 39.6 108.2 47.2 meters 0.021 % U3O8
86.9 108.2 21.3 meters 0.253 % U3O8
KV – 23 91.4 106.7 15.2 meters 0.021 % U3O8
123.4 160.0 36.6 meter 0.036 % U3O8
KV – 24(i) (i) Drilling problems, abandoned before target
KV – 25 83.8 89.9 6.10 meters 0.51 g/t Au
106.7 138.7 32.0 meters 0.51 g/t Au
KV – 26 NSR
KV – 27 NSR
KV – 28 96.0 105.2 9.14 meters 14.50 ppm Ag
71.6 82.3 10.7 meters 0.020 % U3O8
KV – 29 131.1 134.1 3.01 meters 0.015 % U3O8
The Kings Valley Project encompasses over 80,000 acres in north-central Nevada. During the late 70’s and early 80’s Chevron Minerals discovered significant uranium mineralization in three discreet areas which lie along the western margin of the McDermitt Caldera, the North Zone, South Zone, and the Moonlight Mine Area. The South Zone is approximately 1.6 kilometers north of the Moonlight Mine area. The North Zone lies an additional 3.0 kilometers north of the South Zone.
The Moonlight Mine
2007 drilling at the Moonlight Mine is targeted at in-filling the pre-existing drill patterns started by Anaconda, expanding the strike length of known uranium mineralization, and delineating the structural setting of the Moonlight Mine area.
Drill holes KV-21 through KV-27 were drilled 100 to 300 meters north of the Moonlight Mine workings. The drill holes are located on approximately 50 meter centers except KV-22 and KV-23 which are 20 meter offsets to KV-19. KV-22, 23, 24, 25 and KV-27 were drilled to confirm geometry and grade of uranium mineralization found during previous drilling efforts. KV-21 and KV-26 were drilled to identify the position and orientation of suspected fault zones. KV-24 was terminated before reaching the projected target zone due to bad ground and will be re-drilled later in the season.
KV-25 contains 6.1 meters @ 0.51 g/t Au and 32 meters @ 0.51 g/t Au. The occurrence of uranium and gold in the same intervals, in multiple drill holes, strongly suggests a two fluid system and possibly two discrete mineralizing episodes.
The South Zone
KV-28 is an in fill drill hole located in the South Zone drill area. It is unusual in that it contains twenty, 1.5 meter intervals with gold values between 0.10 and 0.50 g/t. Strongly elevated levels of Barium, Mercury, Silver, Arsenic, Molybdenum, and Uranium are also associated with the gold zones.
KV-29 intersected a 10 meter zone from 131.0 meters to 134.1 meters with 0.015% U3O8.
Drill holes KV-30 through KV-33, are also located in the South Zone. These holes have been completed. Samples have been delivered to AAL offices and have been submitted for analysis. Results are pending.
The North Zone
Drill holes KV-34 through KV-36, are located in the North Zone. These holes have been completed. Samples have been delivered to AAL offices and have been submitted for analysis. Results are pending.
WUC recognizes that many of the mineralized structures and host rock units are moderately to steeply dipping. Due to the topography in the project area, most of drilling was vertical. Therefore the true thickness is less than the intercept thickness. However, due to the widely spaced drill pattern and the abrupt changes in attitudes of structures and host rocks additional drilling will be necessary to accurately define true thicknesses.