Calypso Uranium Announces the Launch of an Exploration Drilling Program in the Neuquen Basin and the Signing of an Option Agreem
09 5월 2011 - 10:00PM
Marketwired
CALYPSO URANIUM CORP. (TSX VENTURE: CLP) ("Calypso" or the
"Company") - Calypso President Stephen Barley is pleased to
announce that the Company's wholly owned subsidiary in Argentina,
Energia Mineral Inc., is launching its exploration drilling program
in the Neuquen Basin following the Declarations of Environmental
Impact for the Central Block and Campesino Norte Projects. The
Company is also pleased to announce that Eneria Mineral has signed
a Mining Exploration and Purchase Option Agreement with Miranda
S.A., for three key properties surrounding the Company's La Pintada
property.
Exploration Program in the Neuquen Basin
"We are pleased to be able to launch an intensive exploration
program in the Neuquen Basin," said Stephen Barley, President and
CEO of Calypso. "It is a key element of Calypso's joint venture
agreement with Cameco and we are eager to advance with this drill
program, at the first potential in-situ recovery (ISR) exploration
project in Argentina." In September 2010, Calypso signed an Option
Agreement with Cameco to explore and develop uranium projects in
Argentina through Energia Mineral.
Guillermo Pensado, Vice President Exploration for Calypso and
President of Energia Mineral, said, "The Central Block and
Campesino Norte exploration programs are a priority at this stage
and represent an investment of about $2,000,000 for the first
phase. We have an expert team in place that will be initiating the
drilling program in the near future, working closely with the local
community and local suppliers."
The Declarations of Environmental Impact represent the approval
of the exploration drilling programs presented for the Campesino
Norte and Central Block Projects for the next two years, and were
issued by the Sub-Secretariat for the Environment for the Province
of Neuquen, under Disposition Nos. 140-11 and 153-11, on April 15
and April 29, respectively. Based on national and provincial
regulations, the approval is founded on technical assessments by
the Provincial Directorates of Environment, of Mining, and of Water
Resources.
The Central Block project is an ISR project located along the
Chihuidos High range in the Neuquen oil & gas producing basin
and represents the most significant ISR project under exploration
in Argentina. The approved exploration program includes drilling of
20,000 meters by reverse circulation (RC) that are planned to be
drilled in different phases. The first phase of drilling will be
initiated in the near future and the aim of the program is to
confirm the most potentially mineralized horizons interpreted by
field mapping and historical oil & gas geological and
geophysical data. The Campesino Norte follow-up exploration program
includes a 10,000 meter RC drill program that will be initiated
with a first phase to the southwest of the mineralized
paleo-channel intercepted during the drill fences completed in
2008.
Mining Exploration and Purchase Option Agreement with Miranda
S.A.
The Mining Exploration and Purchase Option Agreement with
Miranda S.A. is for three properties covering approximately
14,500ha or 1,450km2 in the Sierra Pintada District in the Province
of Mendoza. The properties comprise several radiometric anomalies
surrounding existing Energia Mineral properties and border the
south edge of the Sierra Pintada uranium deposit. The Agreement was
signed by Energia Mineral on March 31, 2011, and the properties
will be covered by the joint venture exploration agreement with
Cameco.
"These three properties are strategically located respective to
Energia Mineral's La Pintada Project near the Sierra Pintada
deposit. Our first step is to begin work on the Environmental
Impact Report required by law in order to obtain the approvals for
prospective activities," said Pensado.
Under the terms of the Agreement, Energia Mineral will lead
prospecting and exploration activities, and Miranda grants Energia
Mineral the option to purchase 100% of the Properties at any time
five years and six months as from the date of execution of the
Agreement.
About Calypso
Calypso Uranium Corp. is a mineral exploration company whose
principal focus is the exploration and development of uranium
properties in Argentina and in the United States. Calypso is active
in Argentina with more than 500,000 hectares or 5,000km(2) of
claims and mineral concessions in the provinces of Chubut, Mendoza
and Neuquen. In September 2010, Calypso signed an Option Agreement
with Cameco Global Exploration Ltd., to explore and develop
Calypso's uranium projects in Argentina with the exception of the
Huemul property in the Province of Mendoza which is being retained
by Calypso. Through the Argentine branch of its subsidiary Energia
Mineral Inc., the Company has an exploration office located in
Mendoza working closely with local communities while operating to
the highest national and international safety, environmental and
ethical standards. To promote transparency and to build awareness
and public understanding of uranium exploration, all of Calypso's
environmental impact reports and its "Radiological Safety and
Protection Guide for Uranium Exploration" are posted on its
website. The Company works closely with local, provincial and
federal authorities, as well as non-governmental organizations
(NGOs) and Provincial Mining Chambers in order to maintain a fluid
communication channel with the communities as part of its
transparency and sustainable development policy. While maintaining
its principal focus on the development of the Argentine uranium
projects, Calypso has a 50% interest and is operator of the Sage
Creek properties located in Converse County, Wyoming. Calypso is
well-funded to advance all exploration projects and has the
technical team and management structure for this effort. Further
information is available at the website, www.calypsouranium.com, or
filed under the Company's profile at www.sedar.com.
CALYPSO URANIUM CORP.
Stephen Barley, President & CEO
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
Neither 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: Calypso Uranium Corp. Investor Relations
1-604-639-4671 info@calypsouranium.com www.calypsouranium.com
Calypso Uranium Corp. (TSXV:CLP)
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