Pitchstone provides Athabasca results

Pitchstone Exploration Ltd. provides an update on exploration results on the Darby, Candle and Waterfound properties in the eastern Athabasca Basin, Saskatchewan. The properties are part of a 50:50 joint venture between Pitchstone (operator) and Uranium One Inc., JCU (Canada) Exploration Company, Limited has a 25% interest in Candle.

Diamond drill hole CD-25 intersected a narrow zone of strong radioactivity. CD-25 was collared at -80 degrees, and intersected the unconformity between Athabasca Group sandstone and basement rocks at a down hole length of 631 m. A 0.2 m interval of strong radioactivity in altered pelitic gneiss, from 655.5 to 655.7 m, averaged 10,000 counts per second (cps); background is less than 100 cps. Radioactivity was measured with a hand-held S.R.A.T. SPP2N scintillometer. The radioactivity is associated with a black, pyritic vein cutting the core at an acute angle, with a true thickness of 5 cm.

Drill hole CD-25 is the fifth drill hole completed this winter at the 97G Zone to follow up on encouraging uranium values in previously reported drill holes CD-14 and CD.

CD-25 is located 100 m north of drill holes CD-14 and CD-14D1, along the interpreted strike of the basement alteration zone, and is the only hole drilled to date north of CD-14 and CD-14D1. Strong fracturing, bleaching, secondary quartz veining, and quartz dissolution were noted in the sandstone in CD-25. Four holes were drilled south of or on section with CD-14 and CD-14D1. Two of these holes intersected zones of clay alteration, with weak radioactivity encountered in one. Samples are being shipped to SRC Geoanalytical Laboratories in Saskatoon for analysis. Results will be reported as soon as they are received.

A total of 5,880 m of diamond drilling in eight drill holes was completed with one drill during the January to March 2008 drilling campaign. As mentioned above, five holes were completed in the vicinity of the 97G zone. Of the other three, one was completed on the Candle claim 400 m south of the 97G zone. The remaining two were completed on conductor 4A on the Darby claims 4 km south of the 97G zone. No significant radioactivity was encountered in the three holes drilled outside of the 97G zone.

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