Business & Finance
Business and Finance
Business and Finance
Thu, August 18, 2011
Wed, August 17, 2011 
Trading Symbol TSX-V - ESO
Frankfurt - E2G
VANCOUVER, Aug. 17, 2011 /CNW/ - ESO Uranium Corp. (TSXV: ESO), (the "Company" or "ESO") is pleased to announce that it has completed a thirteen (13) hole, 1633 meter drill program in its option to earn a 100% interest in the Donna Gold Property, in South Central British Columbia. Samples from the first batch of holes were delivered for assay on August 5th, 2011. Core logging and sampling is continuing and the remaining samples should be delivered in 10 days for assay. The drill program was successfully executed by HardRock Diamond Drilling Ltd of Penticton, BC.
The drill program was designed to further test the area of earlier drilling and trenching, and possible down-dip mineral extension to the west. Eight of the core holes intersected intervals of "strong sulphide mineralization", similar to mineralized exposures in trenching that carried significant gold values. Quartz veining carrying pyrite, stibnite, minor chalcocite and arsenopyrite was recovered with bleached alteration envelopes extending into the host dioritic and skarn rocks.
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 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 a 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: from 23.4 - 44.6 m of core length with quartz and sulphide veining over 21.2 m grading 2.02 g/t gold.
In order to put this into some context at a time when the price of gold has been increasing very strongly and has gone well outside its typical ranges of price, it should be noted that at the current price of gold, approximately US$ 1750 per ounce, one gram of gold now has a value of approximately US$ 56.
Benjamin Ainsworth, P.Eng. 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.
