Vancouver, British Columbia: Western Uranium Corporation (the “Company” or “Western Uranium”) is pleased to announce the results of the airborne MEGATEM geophysical survey flown in the Thelon Basin of Northwest Territories and Nunavut Canada over Western Uranium’s 100 % owned prospect permits and claims.
The interpretation of the data from the survey has highlighted a number of favorable targets that warrant follow-up exploration in the form of ground geophysics and drilling. The Thelon Basin is both geographically and geologically similar to the Athabasca Basin in Saskatchewan Canada, which hosts the majority of known high grade uranium deposits in the world. The Thelon Basin exhibits comparable exploration potential for hosting similar high grade uranium deposits.
A total of 7,948 line kilometers were flown over 486,000 acres of Western’s ground using Fugro’s airborne electromagnetic system. This survey has identified a number of locations that exhibit favorable geophysical responses that can be associated with mineral deposits that host uranium or massive sulfides such as nickel, copper, lead, or zinc. A follow-up exploration program is in the planning stages with a projected start-up date for initiating the program in the field targeted for mid-March. This program will focus on several of the targets identified on Western’s exploration permits that cover ground in Nunavut. One of the targets is sufficiently defined to warrant a first pass exploratory core drill program which will consist of approximately 2000 metres of drilling.
A ground geophysical program that will utilize a time domain electromagnetic (TDEM) survey is being planned for another area that exhibits large, structurally controlled anomalous geophysical responses. This program is being designed to more accurately define ground locations of the airborne geophysical targets and to further define the size and shape of several of the anomalies. Due to the number and extent of the targets identified, several phases of ground exploration programs will be undertaken. The first phase will focus on several but not all of the priority one targets.
On behalf of the Board of
Western Uranium Corporation
Pamela J. Klessig
President & CEO
For further information contact:
Western Uranium Corporation
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved of the contents of this press release. Western Uranium Corporation is a mineral exploration company with a focus on uranium. The Company has exploration properties in Nevada and in New Mexico. The Company has its head office in Vancouver, Canada; and its executive management team is based in Reno, Nevada.
Forward-looking statements: This document may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company’s capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.