Northwestern begins exploration at North Rae Uranium Project in Northern Quebec, Canadaadmin
Northwestern Mineral Ventures Inc. (TSX-V: NWT – News; OTCBB: NWTMF – News) today announced that it has commenced exploration at its North Rae Project, a highly prospective uranium property located in the Ungava Bay region of northern Quebec, Canada.
“Management is confident in the mineral potential of our North Rae property, and as such our plan is to test for potential large open-pittable uranium mineralization,” said Marek Kreczmer, President and CEO of Northwestern. “By moving forward immediately with the work program on North Rae, Northwestern expects to be able to advance the project quickly with a view to defining possible uranium drill targets.”
In cooperation with its joint venture partner Azimut Exploration Inc., Northwestern intends to test a new geological model that has been identified using proprietary methodology. The methodology incorporates both province-wide and area-specific data from the Quebec government that revealed as much as 0.75% U3O8 (uranium oxide) in nearby lake sediments.
The summer work program is expected to include a lake sediment survey, an airborne electromagnetic survey, soil prospecting and a ground geophysics survey. The final results, when compiled and analyzed, will be used to modify and further refine the innovative Azimut-Northwestern geological model. Northwestern’s budget for this first phase of exploration is approximately C$400,000.
The North Rae Uranium Project consists of three blocks representing 668 claims, with a total area of 73,835 acres (29,880 hectares). Northwestern has the right to earn up to 65% ownership of North Rae, as announced in a press release dated March 6, 2006.
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol “NWTMF” and the TSX Venture Exchange under the symbol “NWT.”
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
For further information
Marek J. Kreczmer, M.Sc., P.Eng., President and CEO, (866) 437-9551, email@example.com
Source: Northwestern Mineral Ventures Inc.