Cash Minerals Stakes 2000 Additional Uranium Claims in the Yukon

Cash Minerals Stakes 2000 Additional Uranium Claims in the Yukon

July 18, 2006 Filed Under: Mining Services, Uranium Mining  

Cash Minerals Ltd. announced that its Yukon Uranium Project has acquired approximately 2,000 additional mineral claims covering about 40,000 hectares in the Wernecke Mountain area of east-central Yukon Territory. The staking program was instituted in late 2005, when the company held approximately 350 claims covering about 7,000 hectares. Additional claims have been staked on the basis of geological compilation and data from recently flown regional aeromagnetic surveys.

“Following a very successful aeromagnetic survey program, we have allocated additional funds to fly an airborne gravity survey later this summer”, said Basil Botha, President and Chief Executive Officer of Cash Minerals Ltd. “The objective of this survey is to vector in on buried deposits using methods that have been successful in Canada’s Athabasca Basin and in Australia. Our targets based on the unconformity and IOCG models have significant potential and we will use every avenue available to identify additional uranium targets in this highly prospective area.”

The main objective of the company’s staking program is to identify and acquire additional uranium properties that reflect large hydrothermal systems and major structures within the favourable Wernecke Supergroup basement rocks. Greater emphasis is being placed on targets that are unconformably capped by younger stratigraphic units and thus were not identified by earlier exploration efforts in the region. The staking of additional uranium claims is a major priority for Cash Minerals.

The company will explore its new properties using geophysical and geochemical signatures obtained from drilling at its Lumina and Igor prospects. Lumina hosts fracture controlled, unconformity related uranium mineralization that is similar to some deposits in the Athabasca Basin of northern Saskatchewan. The Igor prospect covers uraniferous iron-oxide copper-gold (IOCG) style mineralization that exhibits many features seen in the Olympic Dam and Ernest Henry deposits in Australia. The company is currently drilling on both the Lumina and Igor properties and has mapping and ground geophysical crews working on other claims in the area.

Cash Minerals has assembled a strong technical team knowledgeable in both unconformity related and IOCG deposits. The team includes Suraj Ahuja, a recognized geological consultant in Canadian uranium deposits, and Dr. Geordie Mark (Global Discovery Pty. Ltd.), a specialist in the genesis and interpretation of IOCG systems.

Dr. Mark stated, “From site inspections, as well as evaluation and analysis of the current geological data, the Igor Copper-Uranium-Gold prospect exhibits geological and geochemical characteristics that are similar to the Olympic Dam and Ernest Henry systems in Australia. Upon my return to the properties in July and August 2006, I will be working extensively with the exploration team to further evaluate and define the IOCG characteristics of the Yukon Uranium Project land holdings.”

“Extensive advanced planning is the primary reason for the successes achieved to date,” continued Mr. Botha. “In addition to identifying key uranium targets, we also secured work crews in advance, which has allowed us to continue exploration and staking without interruption. This has been achieved at a time when skilled personnel and contractor crews in the exploration sector are in short supply and high demand.”

About Cash Minerals Ltd.

Cash Minerals ( is an emerging publicly listed resource company. Under an agreement with joint venture partner Twenty-Seven Capital Corp., Cash Minerals has the option to earn a 75% interest in one or more of the eight uranium prospects in the Yukon. These prospects include four IOCG prospects and an attractive unconformity-related uranium target all located in the Wernecke Mountain region of north-east Yukon. The company is also engaged in exploring and developing coal properties in the Yukon, and is involved in the development of a coal-to-liquids (CTL) project in China, which uses the Fischer-Tropsch process to convert coal into clean-burning diesel fuel.

Should you wish to receive Company news via email, please email and specify “CHX News” in the subject line.


Contacts: Cash Minerals Ltd. Basil Botha President & CEO (604) 633-9942 (604) 633-9972 (FAX)

Cash Minerals Ltd. Peter Arendt Vice President (604) 633-9942 (604) 633-9972 (FAX)

Share this post