Powertech Purchases Historic Uranium Resources in Colorado
Leser des Artikels: 61
CENTENNIAL, COLORADO and VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE)
-- October 03, 2006 -- POWERTECH URANIUM CORP. ("Powertech" or the
"Company") (TSX VENTURE: PWE) (FWB: P8A) is pleased to announce it
has purchased from Anadarko Land Corp., an affiliate of Anadarko
Petroleum Corporation (Anadarko) (NYSE: APC), approximately 5,760
acres of uranium mineral rights in Weld County, Colorado (the
"Centennial Project"). The Centennial Project was discovered and
evaluated by Rocky Mountain Energy Company (RME), a predecessor of
Anadarko. This evaluation consisted of drilling, geologic
interpretation, hydrology studies, assaying and mine planning.
Historic Resources
In ten years of exploration on the Centennial Project, formerly land
granted to Union Pacific Railroad, RME completed over 3,000 drill
holes, totaling approximately one million feet of drilling. This
drilling outlined several uranium deposits, with total estimated
uranium resources of 9,581,000 pounds U3O8. This estimate comes from
several geological reports produced by RME between 1980 and 1984.
These uranium deposits were discovered along 15 miles of
oxidation/reduction boundaries (roll fronts) in two separate sands of
the Fox Hill Formation. These deposits range in depth from 120 feet
to 620 feet have an average grade of 0.07% U3O8. James Bonner, VP
Exploration of Powertech, managed the exploration of this project for
RME when the majority of these resources were delineated. "Our
detailed knowledge of the deposits and the characteristics of the
resource indicate this project meets the company´s development
Leser des Artikels: 61
CENTENNIAL, COLORADO and VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE)
-- October 03, 2006 -- POWERTECH URANIUM CORP. ("Powertech" or the
"Company") (TSX VENTURE: PWE) (FWB: P8A) is pleased to announce it
has purchased from Anadarko Land Corp., an affiliate of Anadarko
Petroleum Corporation (Anadarko) (NYSE: APC), approximately 5,760
acres of uranium mineral rights in Weld County, Colorado (the
"Centennial Project"). The Centennial Project was discovered and
evaluated by Rocky Mountain Energy Company (RME), a predecessor of
Anadarko. This evaluation consisted of drilling, geologic
interpretation, hydrology studies, assaying and mine planning.
Historic Resources
In ten years of exploration on the Centennial Project, formerly land
granted to Union Pacific Railroad, RME completed over 3,000 drill
holes, totaling approximately one million feet of drilling. This
drilling outlined several uranium deposits, with total estimated
uranium resources of 9,581,000 pounds U3O8. This estimate comes from
several geological reports produced by RME between 1980 and 1984.
These uranium deposits were discovered along 15 miles of
oxidation/reduction boundaries (roll fronts) in two separate sands of
the Fox Hill Formation. These deposits range in depth from 120 feet
to 620 feet have an average grade of 0.07% U3O8. James Bonner, VP
Exploration of Powertech, managed the exploration of this project for
RME when the majority of these resources were delineated. "Our
detailed knowledge of the deposits and the characteristics of the
resource indicate this project meets the company´s development
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