News

 
Commencement of Work Program - Halo Uranium Project - Bancroft, Ontario
view PDF
New Release

May 10, 2005, Vancouver, BC: Further to the announcement dated April 12, 2005, El Nino Ventures Inc. (TSX: ELN.H, OTCBB: ELNOF) is pleased to announce its first phase of work for the Halo Uranium property near Bancroft, Ontario. 

The property is 4,794 acres and is the largest of eight properties El Nino has optioned in the region. Based on evaluation of the known data, El Nino has decided to target the North West and Lake Zones on the Halo Property, estimated in 1957 to contain reserves of 472,000 tons, grading 0.112% U308 (not 43-101 compliant). The original surface showing on the North West Zone was explored by bulldozed stripping and trenching. In 1955 -- 56 this zone was explored by 54 drill holes totaling 24,232 feet and by the No. 1 adit. The original showing is a pegmatitic dyke, 36 feet in exposed width, in contact with a quartzo-feldspathic gneiss striking N55W and dipping vertically. The dyke is a pyroxene-rich granite pegmatite with accessory pyrite, molybdenite and uraninite. El Nino has relocated the original surface showing and initiated an exploration program consisting of backhoe surface stripping, geological mapping, scintillometer surveying and sampling to reestablish the surface dimension of the Zone.

Other zones on the Halo Property, namely the South Zone (four showings and 23 drill holes totaling 9,441 feet, with intersections ranging from 0.05% - 0.75% U308 over 1.5 -- 5.4 feet), the Bald Mountain Zone (7 holes totaling 1,516 feet, including 0.25% U308 over 8.4 feet), and the Pyroxenite Zones (16 trenches over 800 feet and 15 drill holes totaling 2,355 feet and 500 feet with 12 holes totaling 2,709 feet, with 0.15% to 0.20% U308 over 1 -- 3 feet), are also scheduled for evaluation.

About El Nino Ventures Inc.

El Nino is an exploration stage company whose ongoing two-part exploration strategy is first, the acquisition of molybdenum and uranium projects, and second, the acquisition of more advanced-stage mineral projects which have the potential of to generate early positive cash flow. 


On behalf of the board of directors


Harry Barr, President


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
CUSIP# 28335E-10-6

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission. This email should not be construed as an offer to buy or sell securities of this company.

 
 

You can view the Next News Releases item: Mon May 16, 2005, News Release

You can view the Previous News Releases item: Fri Apr 22, 2005, Notice of Change of Auditor

You can return to the main News Releases page, or press the Back button on your browser.