Aldever Resources Inc. Samples 419 ppm U at 2015 Gulch Mine Project, Northern Saskatchewan
Vancouver, October 15 2015 - Aldever Resources Inc. (ALD--TSXV) (ALDV--OTCQB) (17G1--Frankfurt) ("Aldever" or the "Company") is pleased to announce that it has received final assays from its inaugural field program at the Gulch Mine Project ("GMP"), which lies on the north-eastern shores of Lake Athabasca, Northern Saskatchewan. The GMP covers 3,007 hectares of Crackingstone Peninsula on Lake Athabasca and contains the historic uranium producer, the Gulch Uranium Mine. The 2015 GMP exploration program included surface sampling of the 10 known historic surface radioactive showings (Saskatchewan Mineral Deposit Index ["SDMI"] occurrences) as well a short-hole diamond drill program; both of which were designed to guide all planned future uranium exploration programs towards the definition and expansion of known uranium mineralization, which was developed at the Gulch Uranium Mine to a depth of 240 metres below surface.
In total 51 drillholes were collared on the GMP during the August 2015 program with a total of 21.74 metres of core sent for chemical analysis. This short-diamond drill program included 51 assays with Total Digested U results ranged from trace to 221ppm U, with an average of 20.7 ppm U. Anomalous U mineralization encountered in the drill program was associated with mapped surface lineaments, which have been interpreted as penetrative structures akin to the structural zones known to host mineralization on the past-producer Gulch Uranium mine and nearby (~8km south-southwest) Gunnar Uranium Mine.
Coincident with the diamond drill program, a property-wide geological mapping, geophysical surveys and SDMI targeted rock sampling programs were undertaken, which culminated in the collection and analyses of 66 chip and channel samples. These 66 samples reported U grades ranging from trace to 419 ppm U, with an average of 53ppm U. The chemical analyses verified the geological team's observations that anomalous U is associated with structural lineaments which transect the Property. Interestingly, one of these lineaments hosted anomalous copper grades, with analytical results of up 0.77% Cu from a heavily malachite stained fracture zone.
The 117 core and rock samples collected from the 2015 GMP exploration program were analyzed at the Saskatchewan Research Council ("SRC") Geoanalytical Laboratories in Saskatoon, SK for chemical analyzes via SRC's Multi-Element Uranium Exploration ICP-OES package. Chemical ICP results received included both partial digestion and total digestion for the multi-elements. Of note was the fact that a high percentage (~76%) of the U reported in the partial digestion was returned in the final, total digestion. Management interprets this data as indicative of the U reported associated with uraninite minerals, as opposed to the U associated with more refractory minerals; a concept that is further validated with the history of U3O8 production from the Gulch Uranium Mine and the nearby Gunnar Uranium Mine.
President Clive Massey commented, "The confirmation of anomalous uranium on the GMP by the Company further validates Aldever's commitment to identify quality assets in top jurisdictions and quickly and economically develop these through the application of good, ground-based geoscience. The successful completion of the 2015 GMP ground-work demonstrates the GMP project deserves advanced exploration via deep diamond drilling, and as such, the Gulch Mine Project remains one of the Company's primary milestone targets."
The technical contents of this news release have been prepared under the supervision of Mr. Peter Born, P. Geo. Mr. Born is a Qualified Person as defined in NI 43-101, and has approved this news release.
For further information, please contact:
Clive Massey, President
Aldever Resources Inc.
Phone: (604) 622-1199
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.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
