Business & Finance
Business and Finance
Business and Finance
Thu, July 14, 2011
Wed, July 13, 2011 
Trading Symbol TSX-V - ESO
Frankfurt - E2G
VANCOUVER, July 13, 2011 /CNW/ - ESO Uranium Corp. (TSX-V: ESO), (the "Company" or "ESO") has commenced drilling at the Donna Gold Property on Monashee Mountain, which is located approximately 65 Kilometers east of Vernon, BC.
ESO has planned a fifteen hole (15) drill program that will further test areas of earlier drilling and trenching, and possible down-dip gold mineral extension to the west.
A 2010 drill program by ESO tested targets on the central and western parts of a gold anomaly in soils that extends more than 1,600 meters (5,300 feet) along the height of land between the Kettle River and Yeoward Creek, which are both historical gold placer producers. The gold soil anomaly is partially coincident with historical trenching and drilling. Soil sampling by ESO in July 2010 had shown extensions of the gold anomaly with values of up to 0.7 g/t gold in soil.
ESO announced the results of its initial drill program on the Donna Property in October 2010. The news release highlighted that six out of seven holes intersected intervals of sulphide mineralization at shallow depths, similar to mineralized exposures in trenching that carried significant gold values. Quartz veining with pyrite, arsenopyrite, stibnite, and minor chalcocite was recovered with bleached alteration envelopes extending into the host dioritic and skarn rocks. Three-hundred core samples were sent to ALS Chemex Laboratories for gold fire assay with ICP-AES or gravimetric finish, and 33-element analysis by ICP-MS.
The results for gold and its pathfinder metals indicated a strongly anomalous zone that extends west from the trenching and is open (as yet undrilled) further to the west along the soils anomaly. Highlights from ESO's late 2010 drilling program included:
- DDH10-4 from 14.8 - 15.3 m high sulphide interval of 0.5 meters with 19.35 g/t gold within a 2.3 meter vein system at approximately true width, with a grade of 3.8 g/t gold; and
- DDH10-5: Quartz with sulphide veining in 7.5 meters with a grade of 1.67 g/t gold, at approximately true width.
Sampling by ESO in September of 2009 returned a chip sample over 3 meters horizontal along a flat lying quartz vein with 12.3g/t gold within the trenched area. While some samples show significantly high gold values, the main exploration target is a bulk tonnage gold-silver deposit that could be hosted by the quartz stockwork and the dioritic dykes.
The geological and geomorphological settings have some similarity with the White gold property in the Yukon of Underworld Resources Ltd, which appears to be part of the source of placer gold in the White River drainage. On the Donna property, quartz veining is hosted by metamorphosed rocks of the Thompson Assemblage, a small accreted terrane with siliciclastic sediments and minor limestones and cherts of Carboniferous to Permo-Triassic age intruded by Cretaceous granodioritic rocks.
B. Ainsworth, PEng BC, is the Qualified Person responsible for the technical disclosure contained in this news release.
On behalf of the Board of Directors of ESO Uranium Corp.
"Ben Ainsworth"
Vice President, Exploration
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements". These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the Donna Gold Property. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.
United States residents are cautioned that some of the information that may be published by ESO Uranium Corp. may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.
