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Delta Announces Initial Results on its Athabasca Project


Published on 2010-01-07 06:11:45 - Market Wire
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TORONTO, ONTARIO--(Marketwire - Jan. 7, 2010) - Delta Uranium Inc. (TSX:DUR) ("Delta" or the "Corporation") announces the results of geochemical analysis of boulder samples collected in the fall of 2009 on its C5 and C6 properties in the Wheeler River area of the Athabasca Basin, Saskatchewan. Elevated to anomalous values in uranium, boron and other pathfinder elements were found on both dispositions.

A total of 140 samples of sandstone boulders were collected and sent for geochemical analysis from the C5 and C6 properties, both of which adjoin the Wheeler River project of Denison Mines, Cameco and JCU, about 6 kilometres north of the Phoenix uranium zone. A trend of elevated to locally anomalous uranium, boron, arsenic and lead values has been defined. This coincides with a conductive trend, as well as a "quartzite ridge", both of which were defined by previous exploration carried out by Cameco in 2001. The conductive trend was confirmed by a 2007 VTEM airborne survey. The quartzite ridge appears to be an important geological feature that is closely associated with uranium mineralization at the McArthur River mine, 30 kilometres to the northeast. Denison recently stated that, "this mineralization represents the most significant new discovery in the Athabasca Basin in many years and it has many geological similarities to the MacArthur River mineralization but is at shallower depth". This area has been recently the target of a focused exploration project by Denison since the discovery of the Phoenix uranium zone. Denison has announced assay results ranging up to 62.6% U3O8 over 6 metres in drill hole WR-273.

Delta intends to commence within the next 30 days a program consisting of ground and/or airborne geophysical surveys leading to a late winter drill program on its C5 and C6 dispositions.

Wayne Isaacs, Chairman and CEO of Delta states that, "these initial results on our C5 and C6 properties are very encouraging. We are definitely in the hotbed of activity as far as the Wheeler River area is concerned which Denison recently describes as being "favourably located along strike from the MacArthur River deposit and is underlain by many of the same geological features as are present on that producing property". With our property being only 6 kilometres away from the Phoenix zone we are looking forward to the mineralogical analyses which we expect by mid January, and commencing a structured but aggressive exploration program".

Delta Uranium Inc. has an option to earn a 80%% undivided interest in the C3 property and an option to earn a 75% undivided interest in the C4, C5 and C6 properties from Solitaire Minerals Corp.

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 properties, Delta is relying on information provided to it by Solitaire. All information pertaining to the Wheeler River properties 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.