Haven't heard anything but noticed this release yesterday from VAE-v re: Otish Basin results... anyone know if this is at all close to KXL claims? Probably not but does indicate more positive results for the region.

red911

Virginia grab samples 76,649 ppm U3O8 at Lac Tion

2009-09-21 10:46 ET - News Release

Mr. Norman Reynolds reports

VIRGINIA ENERGY REPORTS HIGH-GRADE URANIUM RESULTS FROM LAC TION AND LORENZ GULLY PROSPECTS, OTISH BASIN, QUEBEC.

Virginia Energy Resources Inc. has released initial exploration results from its recently completed seven-week, $800,000 uranium exploration program in the Otish basin of north-central Quebec. Assay results from two uranium prospects are reported here.

The majority of Virginia's 2009 program was directed toward defining drill targets on four properties under option from Xemplar Energy Corp. (see property map on Virginia website). Fieldwork included the recovery and resampling of historic drill core, outcrop stripping, and sampling and detailed ground surveys over several prospects. The majority of analytical results are pending; however, positive preliminary results have been received for the Lac Tion and Lorenz Gully prospects.

At the Lac Tion prospect on the Peribonka property, 2009 fieldwork was directed at relocating high-grade boulders and collars for holes drilled by Seru Nucleaire in 1984. Two boulder trains, one 165 metres long and the other 100 metres long, contain highly radioactive, friable and angular, gabbro/diabase boulders five to 40 centimetres in diameter with hematite-carbonate-quartz alteration and pitchblende, yellow uranium oxide and malachite mineralization. Seru reported discovery of approximately 60 boulders in these two trains with values up to 44,000 parts per million uranium (5.19 per cent U3O8). Winkie hole OEWY-209 at the head of the western train is reported to have intersected one metre grading 5,050 parts per million uranium (0.596 per cent U3O8) between 5.25 and 6.25 metres depth. Sampling of boulders by Virginia in 2008 yielded assays of up to 0.94 per cent U3O8 by fusion XRF (see May 11, 2009, news in Stockwatch).

Two thousand nine work consisted of a detailed soil and magnetometer survey over the prospect, resampling of core from two drill holes (results pending), prospecting and collection of boulder grab samples. Assay results for five boulders have been received confirming the presence of very high uranium values (see attached table). Note that three samples were reassayed using titrametric analysis, which is a more accurate method for high-grade material. Remaining results will be released as they become available.

    2009 LAC TION BOULDER GRAB SAMPLES

Sample No.      Assay            Assay 
              (ppm U3O8)       (% U3O8)
              (four-acid    (titrametric)
               digestion, 
             fluorimetry)

 
2654           76,649            5.47
2655           38,996            3.08
2656            1,276
2676
3079
2677           39,171            3.59
 

The Lorenz Gully prospect occurs on the Lorenz property, which straddles the unconformity along the northwest margin of the Otish basin. Prospecting in 2009 was undertaken to further investigate float and bedrock values of up to 0.998 per cent U3O8 from limited work in 2008 (see news in Stockwatch of May 11, 2009). The prospect was discovered by Uranerz Exploration and Mining Ltd., which drilled 35 holes in this area in 1978 to 1979. Uranerz reported numerous mineralized intersections including 0.5 metre grading 1.87 per cent U3O8 and three metres grading 1,171 parts per million U3O8.

Work by Virginia crews in 2009 identified a 120-metre-wide-by-450-metre-long mineralized zone trending southwesterly from the area of Uranerz Drilling, and oriented subparallel with the Otish basin unconformity which is located approximately 300 metres away to the southeast. The mineralization has been found in bedrock and angular boulders and consists of a stockwork of narrow, radioactive hematitic fractures and carbonate-barite veinlets hosted by massive and schistose greenstone. No previous drill holes are present over the southern 350 metres of this zone, although there are a few small historic pits. Uranerz reports suggest that the mineralized trend extends further to the northeast within the Lorenz property, and for at least 350 metres in a southwesterly direction onto the adjacent Strategis property, recently acquired by Virginia (see Sept. 16, 2009, news in Stockwatch). A two-week follow-up program is now under way on the Strategis property.

Assay results have been received for 18 boulder and bedrock grab samples from the 450-metre-long Lorenz Gully and LG Southwest zone, yielding an average of 3,926 parts per million U3O8 (see attached table). In addition, results are pending for 44 representative channel samples, nine chip samples and several additional grab samples.

          2009 LG TREND GRAB SAMPLES 

Sample type  Number      Range of       Average 
             of samples  assay values   assay 
                        (ppm U3O8)      value  
                                       (ppm U3O8)

Bedrock grab    3        65.6 - 9,099    3,812
Boulders       15       463.4 - 9,100    3,949

Sample security and quality control

Virginia employs a strict program of sample security and quality control, including the use of blanks, certified standards and duplicates. Loring Laboratories Ltd. of Calgary, Alta., completed all analyses reported here. Rock samples are analyzed for a multielement suite of elements by the ICP-MS method following a single-acid digestion. Uranium assays are completed by the fluorimetric method following a four-acid digestion. Samples with over 10,000 parts per million U3O8 are reassayed by titrametric analysis. Rocks are also assayed for gold by 30-gram fire assay with atomic-absorption finish. Selected samples are also reassayed for gold and uranium at Eco Tech Laboratory Ltd. (Stewart Group) of Kamloops, B.C.

The technical information in this news release has been reviewed and prepared by Michael S. Cathro, PGeo, Virginia's vice-president of exploration and a qualified person as defined in National Instrument 43-101.