Following Up New Uranium Discovery
All five holes that previously tested this area have intersected a thick zone of moderate to intense alteration in proximity to the Athabasca unconformity. In addition to uranium values to 2.06% U3O8, Pitchstone encountered very high levels of nickel (to 10.8%), cobalt (to 4.60%) and other pathfinder metals at Gumboot earlier this year. The mineralization sits immediately above faulted basement graphitic gneisses, a common geological setting for unconformity style mineralization in the Athabasca Basin.
Gravity Survey Target
At least two drill holes will target a gravity anomaly outlined during a survey completed in March 2009. The target area is a large zone of low gravity where it intersects the projection of the alteration and the graphitic conductive zone, about 1.5 kilometers north of the mineralized area. The gravity low may indicate alteration in Athabasca Group sandstone.
Steve Blower, P.Geo., president of Pitchstone, is the qualified person for the purposes of NI 43-101 with respect to the technical information in this news release. Sample preparation and analyses were done by SRC Geoanalytical Laboratories, Saskatoon. A partial digestion with fluorimetric analysis was used for initial uranium determinations, and all samples containing greater than 100 ppm uranium were re-analyzed with ICP. Pitchstone utilizes internally and externally submitted standard reference materials for quality assurance and quality control of the sample preparation and analyses.
