News

 
El Nino Completes Phase I of Uranium Exploration, Halo Uranium Project -- Bancroft, Ontario
view PDF

New Release

July 18, 2005, Vancouver, BC: El Nino Ventures Inc. is pleased to report on its preliminary exploration on the North West Zone of its Halo Uranium Project, located near Bancroft, Ontario.

As per the announcement of May 10, 2005, the Halo property is the largest of eight properties El Nino has optioned in the Bancroft region, and is the site of the bulk of the historic reserves, estimated in 1957 at 472,000 tons grading 0.112% U3O8 (not 43-101 compliant). The original showing was 36 feet of exposed pegmatitic pyroxene-rich granite, in contact with a quartzo-feldspathic gneiss striking N55W, dipping vertically. The last significant exploration on the site was a 1955 -- 56 drilling program, which included 54 holes for 24,232 feet.

El Nino's May 2005 preliminary exploration included surface stripping, geological mapping, scintillometer surveying, and sampling. The original showing in Halo's North West Zone was successfully relocated and stripped, and 16 chip samples were taken. 

Numerous other openings were also made in an attempt to establish additional radioactive zones. The showing trench was found to exhibit strongly anomalous radioactivity, and the average U3O8 content is 0.074% ranging from <0.01% to 0.43%. In addition to the work on the Halo property, work was also done on the Amalgamated Rare Earth #2 property. 21 grab samples were taken from an ore dump site, with an average uranium content of 0.054%.

Consulting geologist, T.J. Beesley, P.Eng., has recommended a budget of $125,000 for diamond drilling and assaying in Halo's North West Zone, in order to establish the continuity of the deposit at depth, and expand and quantify the historically estimated tonnage and grade of the uranium mineralization. This program is slated to begin in the fall of 2005, and will also include a similar follow up program on the results from the Amalgamated Rare Earth #2 preliminary exploration.

Other areas of the Bancroft properties have been examined and are scheduled for further evaluation, including Halo's Lake Zone, and the Canada Radium Mine.

The Qualified Person for this release is T.J. Beesley, P.Eng.

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 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: Thu Sep 1, 2005, Listing Transfer from NEX to TSX Venture Exchange Tier 2, Symbol Change ELN

You can view the Previous News Releases item: Tue Jul 12, 2005, Non-brokered Private Placement

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