VANCOUVER, June 6 /PRNewswire-FirstCall/ -- Samba Gold Inc, (TSXV:SAO) (The Company) is pleased to provide an update on the acquisition of the Huber Hills uranium exploration project within the historic Mountain City Mining District in northern Elko County, Nevada. The project is comprised of approximately 98 existing lode mining claims (1960 acres) and has been expanded by the Company to include an additional 85 lode mining claims (1700 acres) for which filing is pending. The project area is located just east of the town of Mountain City, Nevada. A Phase One Exploration Program will start shortly.
The Huber Hills Project has had historic small scale uranium production. There are a total of four uranium occurrences within the Huber Hills claim block noted in the Nevada Bureau of Mines and Geology Open File Report 06-19. In three of these occurrences, the radioactivity/uranium is related to the contact between the Tertiary Volcanics and the underlying Cretaceous quartz monzonite. In the fourth occurrence, the radioactivity/uranium is related to an altered - silicified fracture/shear zone in the Cretaceous quartz monzonite.
The Race Track Mine, the Tag, Pam, Pat Group prospect and the Granite Group are all spatially related to the contact between the Cretaceous quartz monzonite and over lying Tertiary volcanic - sedimentary sequence. This relationship has also been reported for other prospects within the Mountain City District 3 to 5 miles further to the east. This suggests that these uranium occurrences may reflect a regional control on the mineralization. The other type of uranium occurrence occurs on the Autunite - October Prospects where the mineralization occurs along vertical fractures and/or shear zones in the quartz monzonite.
Past production from the Race Track Mine within the claim group is noted in the NBMG Open File Report 06-19. A trial shipment of 100 tons of an unreported grade in 1958 was noted. Then Proffitt and others (1982) noted production of 9866 lbs of U(3)O(8) from an ore shipment grading 0.24%. The date of this shipment is unknown. The Company is treating this information as historical in nature.
Recent sampling within the historic Race Track Mine open pit yielded results which tends to confirm this historic data. Samba Gold took two adjacent 4.5 meter channel samples (total length 9.0 meters) from an exposed bentonitic tuff found in the best developed part of the historic pit gave results of 0.149% and 0.1020% U(3)O(8). Two other channel - grab samples taken from another part of the pit gave lesser U(3)O(8) values of 220 and 280 ppm. All sample assays were completed at ACME Laboratories, a certified laboratory located in Reno, Nevada.
The objective of locating this large group of lode claims, is to secure the possible extensions of the known mineralized zones related to the contact between the underlying Cretaceous quartz monzonite and the overlying Tertiary volcanic - sedimentary sequence. In order to achieve this, a multiphase program will be undertaken. The first phase will consist of detailed geological mapping and scintillometer and magnetometer surveys. This will be followed by shallow drilling of all anomalous zones located.
Mr. Paul Pelke of Reno, Nevada has been appointed Project Manager for the Huber Hills Uranium Project. He has had extensive experience working on uranium projects in Nevada, New Mexico, Utah, Wyoming and California.
The contents of this Press Release were reviewed by Allen V. Ambrose, (Registered Geologist, Washington State) a director of the Company and a Qualified Person as per NI 43-101. Completion of the acquisition of the Huber Hills Project is subject to TSX Venture Exchange approval.
On Behalf of the Board of Directors of Samba Gold Inc.
Adrian F.C. Hobkirk
President and C.E.O.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release. This press release contains "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in forward-looking statements. The reader is cautioned not to place undue reliance upon forward-looking statements. This press release is not a solicitation to buy or sell securities.
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