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Delta Uranium Inc.: Delta Uranium Commences Work on Its Wheeler River Properties in the Athabasca Basin


Published on 2009-10-22 07:49:08 - Market Wire
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TORONTO, ONTARIO--(Marketwire - Oct. 22, 2009) - Delta Uranium Inc. (TSX:DUR) ("Delta" or the "Corporation") wishes to announce that it has commenced exploration activities on its newly acquired uranium properties in the Wheeler River area of the Athabasca Basin, Saskatchewan.

Delta holds an option to acquire an 80% interest (see Press Release dated May 27, 2009) in the C3 property, and a 75% interest (see Press Release dated July 21, 2009) in the C4, C5, and C6 properties from Solitaire Minerals Corp. The four properties aggregate 998 hectares. The C4, C5 and C6 claims adjoin the Wheeler River property of Denison Mines Corp. (60 percent), Cameco Corp. (30 percent) and JCU (Canada) Exploration Co. (10 percent). Denison recently announced the results of hole 273 on the Phoenix Zone, which intersected 6 metres of 62.6% U3O8 (chemical assay), and plans a major drilling campaign during the coming winter.

Inversion of an airborne VTEM(R) survey by Condor Consulting Inc. of the C3 property, which lies 10 km northwest of the former producing Key Lake mine, has shown a well defined flat-lying conductive zone at a depth of 200 metres, approximately at the level of the sub-Athabasca unconformity. This conductive zone is provisionally interpreted to be caused by clay alteration of the type associated with all the uranium deposits of the Athabasca Basin.

Delta presently has a crew in the field collecting surface rock and boulder samples for geochemical and mineralogical analysis on all four of its properties in Wheeler River area.

Wayne Isaacs, Chairman & CEO of Delta, states that "We are excited to commence our work on these very important claims in this world renowned area of uranium exploration, discovery, and production. We have been looking forward to this moment as we are extremely encouraged by the recent Phoenix discovery which assayed 62.6% U3O8. The site of Denison's Phoenix discovery lies approximately 4km from the border of our adjoining C6 property. We are looking forward to a very successful fall and winter exploration program which we believe will result in increasing value for our shareholders."

The planned winter program for Delta's Wheeler River properties includes line cutting, ground geophysics (IP, resistivity, gravity and seismic), and it is expected to reach the first-phase drilling stage in March, 2010. Because all four properties have road access, logistics of supporting and exploration program will be simple, and costs are expected to be reasonable.

Delta recently closed the first tranche of its planned flow-through financing (see Press Release dated October 9, 2009) and intends to close the second tranche no later than November 6, 2009.

Qualified Person

Technical information in this news release has been prepared and/or revised by Colin Bowdidge, Ph.D., P.Geo., VP Exploration, Director and Qualified Person as defined in NI 43-101 for Delta.

For the purposes of providing information relating to the Wheeler River C3 Property, Delta is relying on information provided to it by Solitaire. All information pertaining to the Wheeler River C3 Property was derived from historical geological reports and does not presently conform to the standards as outlined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Delta Uranium Inc.

Delta Uranium is TSX listed Canadian exploration company actively engaged in the acquisition, evaluation and exploration of uranium mineral properties in northeastern and northwestern Ontario, Athabasca Basin and Western Newfoundland, Canada.


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