DIOS Exploration/Significant Discovery on Hotish Project: 0.621 % Uranium Oxide Over 3 m True Width in Volcanics Near Surface
November 17 2011 - 10:33AM
Marketwired
DIOS EXPLORATION (TSX VENTURE:DOS) discovers a high grade uranium
lens (1.85 % U3O8 over one-meter true width), with copper and lead
mineralization in sub-vertical volcanics under two feet of sand on
its wholly-owned HOTISH PROPERTY, adjacent to Cameco's property,
Otish Mtns, James Bay Agreement Land, QC.
Five horizontal diamond-saw channels crosscut the stripped
mineralized lens along a fifteen meter length returning from north
to south:
-- 0.5042 % uranium oxide over 2 m (1.04 % U3O8 over 1 m)(i)
-- 0.155 % U3O8 over 1 m (.087 % U3O8 over 2 m with 0.13 % copper)
-- 0.621 % U3O8 over 3 m (1.85 % U3O8 / 1 m, 0.5% lead, 0.17 % Cu 0.5%
vanadium)
-- 0.1 % U3O8 over 1 m
-- 0.532 % U3O8 over 1 m and0.165 % lead
(i) minimum 1 m long diamond saw channel samples taken in
volcanics by independant firm IOS and assayed at Saskatchewan SRC
following 3 distinct methods
Two grab samples returned 1,66 % U3O8 (0.131 % copper, 0.63 %
lead, 1.5 % barium, 0.7 % vanadium) and 0,624 % en U3O8,
respectively. They were discovered in outcrop following manual
stripping of a 64 000 et 30 000 cps sector, with associated
uranophane and sulfides, mainly chalchopyrite. A brecciated texture
and a strong shear give a schistous look and fragments are
hematized in the brecciated areas. Mechanical stripping was thus
undertaken over a 15 m extent by 5 m width. The mineralized lens
seems to follow a north-south structure crosscutting the east-west
sub-vertical sheared volcanics (600 - 1000 m width) and could be
further stripped along its extents with larger machinery or drilled
at depth.
The actual Otish winter road and planned all weather road in the
scope of the Quebec Government Plan Nord is located 15 km from the
property, which overlaps the western unconformity of the Otish
sedimentary basin. This press release was prepared by Marie-Jose
Girard, M.Sc. P.Geo., qualified person pursuant to National
Instrument 43-101.
Forward-Looking Statements: This news release contains
discussion of items that may constitute forward-looking statements
within the meaning of securities laws that involve risks and
uncertainties. Although the company believes the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurances that its
expectations will be achieved. Factors that could cause actual
results to differ materially from expectations include the effects
of general economic conditions, actions by government authorities,
uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products
and competitive pressures. These factors and others are more fully
discussed in Company filings with Canadian securities regulatory
authorities.
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: Marie-Jose Girard, President & CEO (514) 483-5149
(514) 510-7964 (FAX)mjgirard@diosexplo.comwww.diosexplo.com
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