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| | July 29, 2008
Calypso Uranium Confirms The Discovery Of A Major River Channel Mineralized With Sandstone-Hosted Copper, Vanadium, And Uranium At Campesino Norte, Argentina
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| | CALYPSO URANIUM CORP. (TSXV:CLP)("Calypso" or the "Company") President Roney Long is pleased to announce significant progress at the company's wholly owned Campesino Norte project located in mining friendly Neuquen Province, Argentina. Drilling of the initial phase has been completed and assays received for all samples, and this has resulted in confirming the surface appearance of a major copper, vanadium, and uranium mineralized paleo-river system. Samples from the first fence at the main channel area, Petrosaurios, have intersected a true width of 500 meters, averaging 6.8 meters thick, and grading 0.14% V2O5. Additional samples further indicated an area 350 meters wide, averaging 5.4 meters in thickness, and grading 0.36% Cu. Both of these areas sampled partially over-lap, and are in outcrop and in the very shallow sub-surface.
Calypso drilled a total of 4,135 meters in 135 short reverse circulation holes in a total of seven fences at five different target areas at Campesino Norte in this initial test phase, which was designed as a combination trenching substitute and initial drill test. A total of 2,741 samples were analyzed by Alex Stewart Argentina SA laboratory in Mendoza, Argentina, including 224 QAQC samples.
Of the total of five areas drilled two are to the northeast and are isolated remnants of the main channel system. The main mineralized channel, Petrosaurios, is in the center, and two other areas are seven kilometers to the southwest, but 70 meters higher in the stratigraphy. The bedding is essentially flat, and the position changes are due to higher topography to the south. Alteration thickness and intensity and uranium values, both at the surface and in drilling, all increase to the southwest. The total strike length of the undrilled part of the main mineralized river channel, going to the southwest, is at least 18 kilometers on claims of Calypso. All mineralized intercepts to date are oxidized.
At Petrosaurios a total of three fences, spaced 200 meters apart and crossing the channel trend, were drilled for lengths of 2.2 to 0.5 kilometers, with holes spaced between 25 and 50 meters along the fences. At this area the main paleo-river channel is at least 900 meters wide and contains several sand-and-gravel bars which are preferentially altered and mineralized. The first Petrosaurios fence has, in addition to the intercepts cited above, a zone of 75 meters wide, 3.3 meters thick, and grading 0.37% Cu. The second fence at Petrosaurios contains more vanadium than copper, and the third fence little copper but vanadium continues, with a section 500 meters wide, 4.5 meters thick, grading 0.13%V2O5. The control for this zoning pattern is currently unknown, but zonal arrangements between uranium, vanadium, and copper are common in these environments. The highest uranium value obtained was to the south, in the zone named Javier, where hole CN-121 returned 2 meters, between 10 and 12 meters, grading 0.033% U3O8. This intercept was in sheet-flood sandstone, and the main channel horizon was not drilled due to drill rig limitations.The company is further analyzing these results and will certainly continue drilling toward the southwest, perhaps after additional resistivity and/or radon gas surveys. However, given the amount of copper and vanadium encountered in the shallow setting in the initial drilling, the Company will also pursue this additional potential. The Company will post maps, sections, and results on its website, www.calypsouranium.com , when they are available.
The Company continues to work closely with local and provincial authorities, including hosting a field visit to the Campesino Norte project during the drill program for the Mining Technical School of the Zapala branch of the National University of Comahue.
Interpretations and technical comments in this Press Release were reviewed and approved by Dr. Jon P. Thorson, a Certified Professional Geologist and Qualified Person under NI 43-101 requirements. Dr. Thorson has visited all referenced areas of the Campesino Norte project. A general description of the geology, reference maps, and other data is contained in a Technical Report prepared by Anthony Adkins, Certified Professional Geologist dated June 23, 2006 filed under the Company's profile at www.sedar.com.
Calypso Uranium Corp. is a mineral exploration company whose principal focus is the exploration and development of mineral properties, and is active in Argentina and the United States. Calypso controls more than 4,789 kms of claims and mineral concession lands in Argentina, with large highly prospective uranium properties located in the provinces of Neuquen, Chubut, and Mendoza. Additionally, Calypso is earning into the Sage Creek ISR venture in Wyoming, US. The Company is well-funded to advance all exploration projects and has the technical team and management structure for this effort.
LIST OF ALL SIGNIFICANT DRILL RESULTS AT CAMPESINO NORTE
Note: The project is sub-divided into individual areas with the Daniel and Alexis areas to the northeast, Petrosaurios is the main channel area, and Ariel and Javier are to the southwest, but higher in the section.
Sector |
Fence |
Hole_ID |
From
(m) |
To
(m) |
Thick
(m) |
Cu
(ppm) |
V2O5
(ppm) |
U3O8
(ppm) |
Alexis |
1 |
CN-040 / 044 |
Without significant results |
Alexis |
1 |
CN-045 |
16 |
17 |
1 |
|
585 |
|
Alexis |
1 |
CN-046 / 051 |
Without significant results |
Ariel |
1 |
CN-100 |
Without significant results |
Ariel |
1 |
CN-101 |
2 |
3 |
1 |
|
|
338 |
Ariel |
1 |
CN-102 / 111 |
Without significant results |
Daniel |
1 |
CN-074 |
Without significant results |
Daniel |
1 |
CN-075 |
0 |
1 |
1 |
|
|
119 |
0 |
2 |
2 |
10530 |
10486 |
|
Daniel |
1 |
CN-076 / 078 |
Without significant results |
Javier |
1 |
CN-112 / 113 |
Without significant results |
Javier |
1 |
CN-114 |
10 |
11 |
1 |
2214 |
|
|
11 |
12 |
1 |
|
1855 |
|
Javier |
1 |
CN-115 / 120 |
Without significant results |
Javier |
1 |
CN-121 |
10 |
12 |
2 |
|
|
333 |
Javier |
1 |
CN-122 / 124 |
Without significant results |
Petrosaurios |
1 |
CN-001A |
1 |
2 |
1 |
2772 |
812 |
|
Petrosaurios |
1 |
CN-002 / 016 |
Without significant results |
Petrosaurios |
1 |
CN-017 |
0 |
2 |
2 |
6031 |
3293 |
|
5 |
6 |
1 |
1932 |
1144 |
|
Petrosaurios |
1 |
CN-018 |
Without significant results |
Petrosaurios |
1 |
CN-019 |
1 |
5 |
4 |
10066 |
396 |
|
Petrosaurios |
1 |
CN-020 |
2 |
8 |
6 |
1663 |
265 |
|
Petrosaurios |
1 |
CN-021 |
2 |
10 |
8 |
2503 |
523 |
|
Petrosaurios |
1 |
CN-022 |
4 |
8 |
4 |
1791 |
340 |
|
Petrosaurios |
1 |
CN-023 |
3 |
10 |
7 |
5217 |
|
|
7 |
12 |
5 |
|
1861 |
|
Petrosaurios |
1 |
CN-024 |
1 |
5 |
4 |
|
1408 |
|
Petrosaurios |
1 |
CN-025 |
4 |
14 |
10 |
|
1078 |
|
8 |
12 |
4 |
4634 |
|
|
Petrosaurios |
1 |
CN-026 |
3 |
14 |
11 |
|
1620 |
|
Petrosaurios |
1 |
CN-027 |
9 |
18 |
9 |
|
1267 |
|
Petrosaurios |
1 |
CN-028 / 029 |
Without significant results |
Petrosaurios |
1 |
CN-030 |
2 |
4 |
2 |
4855 |
752 |
|
Petrosaurios |
1 |
CN-031 |
Without significant results |
Petrosaurios |
1 |
CN-032 |
2 |
7 |
6 |
1861 |
350 |
|
7 |
8 |
6 |
|
1064 |
|
Petrosaurios |
1 |
CN-033 |
4 |
8 |
4 |
1419 |
353 |
|
Petrosaurios |
1 |
CN-034 |
0 |
7 |
7 |
5800 |
1308 |
|
Petrosaurios |
1 |
CN-035 |
2 |
5 |
3 |
|
1312 |
|
4 |
10 |
6 |
2253 |
|
|
Petrosaurios |
1 |
CN-036 |
1 |
6 |
5 |
|
852 |
|
5 |
6 |
1 |
700 |
|
|
Petrosaurios |
1 |
CN-037 |
1 |
8 |
7 |
|
1316 |
|
8 |
11 |
3 |
3905 |
|
|
Petrosaurios |
1 |
CN-038 |
1 |
8 |
7 |
|
971 |
|
9 |
12 |
3 |
2212 |
327 |
|
Petrosaurios |
1 |
CN-039 |
10 |
18 |
8 |
|
1529 |
|
Petrosaurios |
1 |
CN-052 |
10 |
11 |
1 |
5094 |
|
152 |
10 |
19 |
9 |
|
2745 |
|
Petrosaurios |
1 |
CN-053 |
15 |
20 |
5 |
|
1337 |
|
Petrosaurios |
1 |
CN-054 |
13 |
20 |
7 |
|
1435 |
|
Petrosaurios |
1 |
CN-055 |
Without significant results |
Petrosaurios |
1 |
CN-056 |
2 |
5 |
3 |
|
1392 |
|
14 |
20 |
6 |
|
873 |
|
Petrosaurios |
1 |
CN-057 / 058 |
Without significant results |
Petrosaurios |
1 |
CN-059 |
17 |
21 |
4 |
|
963 |
|
Petrosaurios |
1 |
CN-060 |
13 |
19 |
6 |
|
937 |
|
Petrosaurios |
1 |
CN-061 / 064 |
Without significant results |
Petrosaurios |
1 |
CN-065 |
8 |
24 |
16 |
|
1115 |
|
Petrosaurios |
1 |
CN-066 |
14 |
25 |
11 |
|
807 |
|
Petrosaurios |
1 |
CN-067 |
Without significant results |
Petrosaurios |
1 |
CN-068 |
12 |
17 |
5 |
|
1827 |
|
Petrosaurios |
1 |
CN-069 / 073 |
Without significant results |
Petrosaurios |
2 |
CN-079 |
9 |
16 |
7 |
|
1168 |
|
Petrosaurios |
2 |
CN-080 / 082 |
Without significant results |
Petrosaurios |
2 |
CN-083 |
8 |
19 |
11 |
|
942 |
|
Petrosaurios |
2 |
CN-084 |
9 |
14 |
5 |
|
1583 |
|
Petrosaurios |
2 |
CN-085 |
11 |
18 |
7 |
|
1826 |
|
Petrosaurios |
2 |
CN-086 |
10 |
12 |
2 |
1073 |
|
|
10 |
15 |
5 |
|
2144 |
|
Petrosaurios |
2 |
CN-087 |
2 |
3 |
1 |
837 |
|
|
2 |
6 |
4 |
|
1045 |
|
Petrosaurios |
2 |
CN-088 / 090 |
Without significant results |
Petrosaurios |
2 |
CN-091 |
2 |
6 |
4 |
1888 |
785 |
|
Petrosaurios |
2 |
CN-092 |
3 |
7 |
4 |
5521 |
|
|
Petrosaurios |
2 |
CN-093 / 095 |
Without significant results |
Petrosaurios |
2 |
CN-096 |
3 |
6 |
3 |
|
957 |
|
3 |
7 |
4 |
2561 |
|
|
Petrosaurios |
2 |
CN-097 |
4 |
5 |
1 |
1038 |
974 |
|
Petrosaurios |
2 |
CN-098 |
2 |
3 |
1 |
1449 |
|
|
5 |
10 |
5 |
|
2387 |
|
Petrosaurios |
2 |
CN-099 |
8 |
13 |
5 |
|
1141 |
|
Petrosaurios |
3 |
CN-125 |
5 |
8 |
3 |
|
1195 |
|
11 |
17 |
6 |
|
1453 |
|
Petrosaurios |
3 |
CN-126 |
Without significant results |
Petrosaurios |
3 |
CN-127 |
2 |
10 |
8 |
|
1958 |
|
Petrosaurios |
3 |
CN-128 |
3 |
7 |
4 |
|
1569 |
|
Petrosaurios |
3 |
CN-129 |
4 |
9 |
5 |
|
1141 |
|
Petrosaurios |
3 |
CN-130 |
5 |
8 |
3 |
|
1216 |
|
Petrosaurios |
3 |
CN-131 |
4 |
7 |
3 |
|
1607 |
|
Petrosaurios |
3 |
CN-132 |
2 |
6 |
4 |
|
2040 |
|
Petrosaurios |
3 |
CN-133 |
3 |
5 |
2 |
|
1648 |
|
Petrosaurios |
3 |
CN-134 |
2 |
4 |
2 |
|
1491 |
|
Petrosaurios |
3 |
CN-135 |
Without significant results |
CALYPSO URANIUM CORP.
Per: "Roney Long"
Roney Long, President
For further information, please contact:
Investor Relations: 1-604-639-4671
Email: info@calypsouranium.com
This news release may contain forward-looking statements based on assumptions and judgments of management of the Company regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements except as may be required by law.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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