Calypso Uranium Confirms the Discovery of a Major River Channel Mineralized With Sandstone-Hosted Copper, Vanadium, and Uranium
July 29 2008 - 4:23PM
Marketwired Canada
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES
CALYPSO URANIUM CORP. (TSX VENTURE: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.
--------------------------------------------------------------------------
From To Thick Cu V2O5 U3O8
Sector Fence Hole_ID (m) (m) (m) (ppm) (ppm) (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.
Roney Long, President
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.
Shares Outstanding: 50,630,819
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