BacTech Advancing Godbout Uranium Project
June 27th, 2007BacTech Mining Corporation (”BacTech” or the “Company”) (TSX VENTURE: BM) is pleased to announce recent developments on the Godbout uranium project located near Baie Comeau, Quebec. Field programs are developing a number of new targets on the Godbout “A” property. In particular, an interesting radioactive zone has been discovered in the central part of the property south of Lac des Iles. The zone, which extents over about 30m, is composed of a series of steep dipping pegmatitic, aplitic and diabase dykes hosted in a granitic gneiss. The radioactivity is moderate but constant in the aplite dyke and moderate to strong in the pegmatitic dykes. A channel sampling program is planned to evaluate the uranium grades over the entire structure.
Many other radioactive pegmatites have been located and sampled by the Exploration Esbec Inc. geologists notably on the shore of Lac Blanc and Lac des Iles, east of Godbout River and along the provincial road.
The Company is encouraged by the results obtained from this work program and hopes to have drill targets developed in the near future.
The success of this summer’s work follows from the results of last winter’s 393m drill program, in which 9 holes were drilled to shallow depths. Two dyke targets were tested to determine the continuity of the uranium at depth. Anomalous uranium grades were cut in these 2 targets (e.g., 192.2 ppm U3O8 over 1.62 m in hole #1), with anomalous yttrium values in hole 4: (282 ppm Y; 358 ppm Y2O3 over 1.3m from 6.8m to 7.1m). Holes 5, 7, 8 and 9 intersected anomalous uranium values and hole 6 did not intersect dyke. Drill results and prospecting provided key vectors that directed the program to focus on the white pegmatite dykes and improved results moving west. This led to the discovery of the north-south structural zone and the other dyke targets
In addition, on the advice of Mr. Phil Boudrias, President of Exploration Esbec, BacTech has staked an additional 56 claims immediately east of the “A” property, and an additional 3 claims to the west of the “A” property. An exploration program, run by Exploration Esbec, will begin this summer on these properties.
Ross Orr, President and CEO of BacTech stated, “We are still in the early days of exploration on this project which we started working only 3 months ago. The discovery of the north-south radioactive structure with significant width and the increased number of radioactive dykes in the vicinity is certainly very encouraging. The Godbout area is generating a lot of interest for uranium exploration, and we are happy to have such a large land position with which to explore. To date, we have only worked on 50% of the land we control.”
The core samples were analyzed by ALS Chemex in Vancouver, B.C., using Lithium Borate fusion and mass spectroscopy.
Finally, the Company reports that it has 4 active projects under review. The intention is to acquire an equity interest in one or more projects that would use BacTech’s patented BACOX technology as a means of liberating gold and/or base metals.
CORPORATE PROFILE
BacTech has developed and patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. BacTech has successfully commissioned three bioleach plants for gold and demonstrated its technology in the selective recovery of base metals from complex sulphide concentrates in a joint project with Industrias Penoles de C.V. of Mexico that was completed in 2001. The Company’s focus is the acquisition of equity positions in projects amenable to bioleaching. Recently, the Company expanded its focus through the establishment of a uranium Joint Venture with Quinto Mining Corporation in Quebec.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the 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 that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled “Risks” in the Company’s Management Discussion and Analysis for the Year Ended December 31, 2006. Circumstances or management’s estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.
Shares outstanding 57,457,205
The TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of this release.
Contacts:
BacTech Mining Corporation
Ross Orr
President & CEO
(416) 813-0303 ext 222
(416) 596-9840 (FAX)
Email: info@bactech.com
Website: www.bactech.com
Investor Relations
Pierre Anglos
1-800-436-2027
Email: capitalgainsco@shaw.ca
Copyright © 2007 SYS-CON Media. All Rights Reserved.
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