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ESO Granted Permits for 10 Hole Drill Program on Hook Lake Claims, South Athabasca Basin, Saskatchewan
VANCOUVER, Canada, August 27 /PRNewswire/ -- ESO Uranium Corporation (TSX-V: ESO), the Company, is pleased to announce that it has received permits for a 10 hole diamond drill program on its 132,000 acre (52,800 hectare) Hook Lake uranium claims. This program will be carried out using helicopter support for the drilling operation, to allow access prior to winter freeze-up. The drilling will test targets on a possible extension of the north- northeasterly striking Dirksen Structure which may extend through geophysical and geochemical targets on the Hook Claims. A second target area has been selected for part of the drill program that is on a sub- parallel structure, lying to the west of the Dirksen. A drill hole (DER-4) by Imperial Oil and SMDC on the Dirksen structure is located 4 km from the south central boundary of the Hook Claims. This hole is reported to have had grades of 1.35% nickel and 0.24% (4.8 lb/t) U3O8, over a 2.5 meter intercept located 9.8 meters below the unconformity at the base of the Athabasca Basin. Drill target selection for the Hook claims has been based on airborne and ground geophysical surveys which included the Fugro Megatem airborne system and high resolution ground resistivity surveys. Earlier work indicated geochemical and mineral signatures in drill holes near and around these targets, including boron anomalies and clay alteration which are often associated with the alteration plumes that may exist above the high grade uranium deposits sought by this work. The claims adjoin, to the South, mineral tenure of Cameco Corporation that has been optioned to Purepoint Uranium Group Inc and to the West, claims of Fission Energy Ltd and to the East, claims of Titan Uranium Incorporated. All three areas are under active exploration at this time. For reference, the current spot price quoted by uxc.com for uranium oxide is US$90 per pound of U3O8; an assay reported as 1.0% of U3O8 is equal to 20Â pounds of uranium oxide per short ton - the conversion of percent metal or metal oxide from percent to pounds per short ton is done by multiplying the %Â value by 20. On behalf of the Board of Directors of ESO Uranium Corp. "Ben Ainsworth" --------------- Vice President, Exploration Please refer to the ESO Uranium website for further and updated information. The Toronto Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management. Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission. Trading Symbol TSX-V - ESO Frankfurt - E2G
