Cue Resources Ltd. to Conduct Drilling at San Miguel, Yuty Uranium Project
17 Febbraio 2011 - 3:00PM
Marketwired
Cue Resources Ltd. (TSX VENTURE: CUE) (the "Company") is pleased to
announce that preparations are underway for a new drill program on
the San Miguel (See Figure 1 below) zone located on the Company's
100% owned Yuty uranium project in south-eastern Paraguay.
Sixty-four historic holes have been drilled previously with three
holes of heightened interest in the 0.10-0.50m% eU3O8 range.
"We are excited to accelerate our 2011 exploration program as we
begin to explore the resource potential at San Miguel," stated
Robert Tyson, President and CEO. "Our drill programs to date have
been limited to the San Antonio zone. We have 3 other zones to
drill in the immediate vicinity of San Antonio, within the Yuty
uranium project including San Miguel. It is time to capitalize on
the historic exploration undertaken by Anschutz in the early 1980s
and begin to define the potential at San Miguel."
The program will consist of approximately 45-50 holes totaling
approximately 3500 metres. The goal of the drilling is to quantify
additional resources and refine the geological model at San Miguel
and Yuty as a whole. Current data shows a significant number of
historical holes at San Miguel have encountered anomalous or better
uranium mineralization.
San Miguel
San Miguel is located 5 km NE of San Antonio along the
reduction-oxidation (redox) front which hosts the uranium
mineralization at San Antonio, San Miguel, Yarati-y, and Typychaty.
All four of these zones show high-priority target areas and all
have historical drilling which has intersected anomalous or better
uranium mineralization. Each zone is similar in area to San
Antonio. The redox front appears to define a nearly continuous zone
of potentially significant mineralization.
To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/Yuty_Figure1.pdf
San Antonio Deposit
The San Antonio Deposit consists of a current NI 43-101
compliant resource, Indicated, 9.0M tonnes @ 0.042% eU3O8
containing 8.3M lbs eU3O8 and an Inferred Resource of 1.1M tonnes @
0.050% eU3O8 containing 1.2M lbs eU3O8. Column leach tests have
demonstrated recovery of up to 86% of the contained uranium from
cores taken from San Antonio. In addition, laboratory testing on
drill cores has shown permeability and porosity values within the
range of existing commercial ISR operations.
About Cue Resources
Cue Resources Ltd. is focused on developing the Yuty Uranium
District in south-eastern Paraguay. For detailed information,
please see the Cue web site at http://www.cue-resources.com.
Chris M. Healey, P.Geo, a director of Cue, is the Qualified
Person responsible for the technical content of this release.
On behalf of the Board of Directors
Robert S. Tyson, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Nicola Street Capital Inc. Mark Prosser Investor
Relations 604-569-0056 mark@ns-cap.com
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