TORONTO, May 1 /PRNewswire-FirstCall/ -- NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is pleased to announce results from the 2007 drill program conducted on its polymetallic Picachos Project in Mexico. Highlights include a 154.5-foot (47.1-meter) intercept of 83 grams per tonne (g/t) silver and 0.84% combined zinc-lead, which starts at surface. The richest silver intercept returned 509 g/t silver and 0.56% zinc-lead over 9.8 feet (3.0 meters). Significant gold and zinc-lead results included a 4.9-foot (1.52-meter) interval of 6.2 g/t gold, 348 g/t silver and 19.9% zinc-lead. The mineralized zone has been evaluated to a minimum strike length of 1,640 feet (500 meters).
"We are very encouraged by these drill results, which confirm the bulk mining potential at Los Cochis," said Marek J. Kreczmer, President and CEO of NWT Uranium. "The Picachos project is in the Sierra Madre Occidental Ignimbrite Belt, which is one of the largest silicic volcanic fields on Earth, and is traditionally known for high-grade epithermal gold and silver deposits such as Tayoltita and Rosario. We look forward to additional drilling to confirm the Los Cochis orebody shape and test its extensions, as well as explore other three main mineralized zones of the Picachos property."
Results
A total of 21 reverse circulation (RC) holes, representing 10,254 feet (3,125 meters), were drilled in November 2007. Of the 21 holes drilled, 18 targeted the main silver soil geochemical anomaly on seven lines spaced 328 feet (100 meters) apart, with most holes dipping to the southwest. Of particular note, Holes COCH3, 6, 13 and 20 were drilled from the same location in four different directions as a preliminary shape investigation of the orebody. Additionally, two holes tested an IP anomaly located 820 feet (250 meters) east of the main zone while one hole (COCH15) tested a gold soil anomaly. Selected analytical results are detailed in the following table:
------------------------------------------------------------------------- Hole From To Interval Silver Zinc Lead Gold ID (m) (m) (m) (g/t) (%) (%) (g/t) ------------------------------------------------------------------------- COCH01 Surface 15.20 15.20 9 0.25 0.11 - ------------------------------------------------------------------------- COCH03 Surface 47.12 47.12 83 0.57 0.27 - ------------------------------------------------------------------------- COCH06 Surface 38 38 90 0.53 0.28 - ------------------------------------------------------------------------- COCH08 130.72 147.44 16.72 74 0.72 0.36 - ------------------------------------------------------------------------- COCH08 185.44 218.88 33.44 34 1.38 0.55 - ------------------------------------------------------------------------- including 186.96 190 3.04 32 2.00 0.33 - ------------------------------------------------------------------------- and 194.56 202.16 7.6 126 4.51 1.97 1.5 ------------------------------------------------------------------------- and 196.08 197.6 1.52 348 16.6 3.3 6.2 ------------------------------------------------------------------------- COCH10 Surface 62.32 62.32 6 0.16 0.06 - ------------------------------------------------------------------------- COCH13 Surface 34.96 34.96 58 0.53 0.22 - ------------------------------------------------------------------------- including 18.24 22.8 4.56 264 1.49 0.8 - ------------------------------------------------------------------------- COCH13 48.64 54.72 6.08 17.5 0.45 0.19 - ------------------------------------------------------------------------- COCH15 6.02 12.14 6.12 4 0.90 0.13 - ------------------------------------------------------------------------- COCH15 27.34 34.94 7.6 2.66 0.08 0.09 0.46 ------------------------------------------------------------------------- COCH20 Surface 36.48 36.48 88 0.32 0.18 - ------------------------------------------------------------------------- including 27.36 30.4 3.04 509 0.24 0.32 - -------------------------------------------------------------------------
The intercepts reported are RC mineralized intercepts. True width of the orebody is not estimable at this stage. The targets drilled at Los Cochis tested old workings and high silver geochemistry on surface, identified through an extensive soil geochemical survey conducted in 2005. Specifically, rock chip-channel and grab samples returned individual values of up to 145 ounces per ton (4,975 grams per tonne) silver, 0.25 oz/t (8.61 g/t) gold, 53% zinc as well as 50% lead, as detailed in a press release dated October 31, 2007.
The drilling intercepted mostly andesitic volcanosedimentary rocks, with some andesitic flow and dykes, and quartz feldspar porphyritic dykes. Mineralization occurs in propylitic altered andesitic rocks, and consists of galena, pyrite, sphalerite, tetrahedrite and chalcopyrite.
NWT has an option to earn a 70% interest in Picachos from Yamana Gold as announced in a press release dated July 12, 2006.
Quality Control/Assurance
Sampling was supervised by Michelle Robinson, MASc., P.Eng., who is a qualified person as defined by National Instrument 43-101 and a consultant to NWT Uranium. Ms. Robinson has supervised the preparation of this press release.
Dry and wet RC drilling samples were routinely collected on five-foot intervals and reduced using cyclone and Jonas splitter. Samples were transported to Acme Analytical Laboratories in Guadalajara for preparation and pulps were sent to Acme's Vancouver office for assay (ICP-MS). Samples containing more than 0.3 g/t gold, 50 g/t silver or more than 1% base metals were re-analyzed using a 30-gram fire assay for gold-silver, and high-grade multi-element ICP methods. Blind standard pulps were inserted into the sample stream roughly every 25 samples to check for within-batch analytical precision.
As previously announced in December 2007 press release, 2,050 total samples were collected through the drill program. Drilling was conducted by Layne de Mexico SA.
A total of 88 drilling samples were selected from both mineralized and non-mineralized intercepts from the back-up splits in camp, and sent to SGS Minerals Services in Durango, Mexico, for gold and silver analysis. Of the 88 samples, only two report significant differences between Acme and SGS.
ABOUT NWT URANIUM:
NWT Uranium Corp. (http://www.nwturanium.com/) is an international resource exploration company with an experienced, highly technical management team. Since its inception, NWT has concentrated on the acquisition of properties with potential uranium targets. NWT Uranium is listed on the NASD Bulletin Board under the symbol "NWURF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Some of the assays returned were below the detection limits of the analytical techniques used to analyze samples.
Potential quantity and grade is conceptual in nature. There has not been sufficient exploration at Picachos to define a mineral resource and it is uncertain if further exploration will result in discovery of a mineral resource on the property.
