News
TRIBUNE URANIUM STARTS DRILLING BOTHAM LAKE, ATHABASCA BASIN, SASKATCHEWAN
October 30, 2007
Tribune Uranium Corp. (TSX-V: TCB) (Frankfurt: S8QA) (the “Company”) (“Tribune”) is pleased to announce that it has been informed by 101073531 Saskatchewan Ltd. (the “Operator”) that the exploratory drilling program, on its Botham Lake prospect, will begin this week. The program consists of an aggregate of 4000 meters of drilling over four anomalies as described below.
The Botham Lake Property is located in northern Saskatchewan, just south of Tommy Davis Bay (Cree Lake), approximately 254 kilometres north-northwest of the town of La Ronge and 53 kilometres west of the Key Lake Uranium Mine.
In 2006, the Operator, undertook an 826 line-kilometre MEGATEM airborne survey of the Botham Lake prospect. This detailed survey included 68 traverse lines at 300 meter spacing and an azimuth of 135 degrees, and nine tie-lines at 3000 meter spacing. Magnetic and multicomponent transient electromagnetic (TEM) data were measured on all lines. A total of (9) nine anomalies (B1 – B9) were identified from the Botham Lake airborne survey.
Most of the anomalies presented indicated favorable prospects for mineral exploration, with the highest magnitude of response existing in anomalies B1, B2, B4, and B9.
Table 1 – Conductor Overview
Anomaly |
Relative
Strength |
Estimated
Strike |
Estimated
Dip |
Estimated
Length |
B1 |
Strong |
25 degrees |
45 degrees SE |
5.0 km |
B2 |
Strong |
0 degrees |
40 degrees E |
3.6 km |
B3 |
Weak |
22 degrees |
Vertical |
5.3 km |
B4 |
Strong |
35 degrees |
60 degrees NW |
7.6 km |
B5 |
Weak |
26 degrees |
Vertical |
5.0 km |
B6 |
Weak |
35 degrees |
Steep SE |
1.4 km |
B7 |
Weak |
40 degrees |
- |
2.9 km |
B8 |
Weak |
30 degrees |
- |
2.7 km |
B9 |
Strong |
34 degrees |
Vertical |
3.6 km |
During the summer/fall of 2007 the Operator retained Patterson Geophysics of La Ronge, Saskatchewan, to undertake additional ground prospecting and analysis on the Botham Lake prospect to identify potential drill targets. After reviewing all relevant data, including the airborne electromagnetic and magnetic surveying, ground geophysics, and local geological structure, the proposed drill locations on the various earlier identified anomalies can described as follows:
Grid B1
Four anomalous conductors are present on grid B1, with anomaly 1 being the most conductive over most of the grid. Drilling of this anomaly will focus on the area between lines 16S and 34S, where the response is strongest. A number of additional drill targets have been proposed along the considerable strike length of this anomaly; however drilling will focus on the warped, offset EM response near the interpreted fault at 3+50W on line 2600S; the strong EM response south of the interpreted fault, at 3+00W on line 2800S; the strong EM response north of the interpreted fault, at 2+75W on line 2400S; and the strong, well-defined EM responses at 2+75W on lines 2200S, 2000S, and 1800S.
Grid B2
The strong main anomaly on Grid B2 experiences an offset of approximately 400 meters between lines 2200S and 2600S. A weak secondary conductor mirrors the main anomaly in this area. The main anomaly is stronger and probably shallower to the north, but the flexure is a good target for drilling and prospecting. Magnetic data also suggests a possible cross-cutting structure in this area. Anomaly B2 is up to 80m deep, dips 60-70 degrees E and strikes close to N-S. Five targets are proposed on this anomaly:
1-3) Along the sharp offset described above, with anomalies centered at 1+75W on line 2200S, 1+00E on line 2400S, and 2+00E on line 2600S.
4) Strong, shallow EM response on a slight curvature at 2+50W on line 1400S; and
5) Strong, shallow EM response on a slight curvature at 2+25W on line 1200S.
Grid B45
Anomaly B45 has numerous conductors of interest. Conductor #1 on grid B45 widens towards the north end of the grid, exhibiting a medium-strong EM response on all lines. The appearance is that of a double conductor (Conductor #2); the two are near each other and interfere with geometry calculations. A single target at 3+00E on line 800S focuses on an apparent bend in the conductor and may reveal structure which precipitates the onset of conductors #2 and #3 at line 800S. Conductor #3 forms a curve, following a magnetic trend approximately 700 meters NW of anomaly 1. Response is again complex due to weak nearby conductor #2. A single target focuses on the bend in this conductor at 3+25W on line 600S.
Grid B79
Perhaps the most promising area is the southern portion of grid B79. Several distinct conductors are present which follow magnetic trends and coincide with the boundary of pelitic rock with gneisses. A number of targets are proposed on the #3 Conductor, the strongest of the anomalies on Grid B79. Conductor #3 has an average (though quite variable) dip of 60-80 degrees NW and the calculated depth to top is usually less than 30 meters.
The #1 Conductor on Grid B79 is strongest near the south end of the grid, though it terminates abruptly at line 3000S. Calculated dip on this conductor is 50-80 degrees SE, but this may be false due to distortion from nearby weaker conductors. Depth is on average calculated at approximately 50 meters. Three targets are proposed on this anomaly, which possibly represents multiple conductors.
The #4 Conductor on B79, a relatively strong airborne conductor, was not well-defined on most ground EM lines and hence its geometry is not known. It is likely distorted by the same folding and faulting that appears to terminate the #1 and #3 Conductors. A single drill target is proposed on this conductor where the anomaly is strongest and best-defined. Resolution of some of the structural complexity in this area will help to define #4 and hopefully several of the other nearby anomalies.
The drill program is expected to be completed by year end 2007, with associated mobilization and demobilization cost estimated to be $1.3 million. The costs of the program will be paid by Tribune Uranium Corp. as part of our 2007 and 2008 $3 million expenditure obligation under the Option Agreement.
Tribune Uranium Corp. is a Canadian exploration company committed to the strategic acquisition of drill ready projects. Led by an experienced management team, the Company plans to aggressively explore its current portfolio of highly prospective properties. The Company headquarters are in Vancouver, BC and shares are traded on the TSX Venture Exchange (TCB) and the Frankfurt Exchange (S8QA).
To find out more about Tribune Uranium Corp., please contact Graham Harris, Chairman and CEO, at 604-662-8183 or email investor@tribuneuranium.com. You may also visit our website at www.tribuneuranium.com
This news release has been prepared under the supervision of Ed Kruchkowski, P. Geol., who is a Qualified Person under National Instrument 43-101.
TRIBUNE URANIUM CORP.
“Graham Harris”
Graham Harris
Chairman and CEO
