Portal Completes Drilling on Slick Rock Uranium Project

Portal Completes Drilling on Slick Rock Uranium Project

VANCOUVER, BC – Portal Resources Ltd. reported that it has completed a rotary drilling program of 12,860 feet, (3,920 meters) in 18 vertical drill holes on its Slick Rock Uranium Project located within the Uravan Uranium-Vanadium Mineral Belt, in southwestern Colorado. The ore bodies in the Slick Rock District are hosted within relatively coarse grained, cross-bedded, sandstone units of the Salt Wash Member of the Morrison Formation representing river channel fill deposits.
Down-hole gamma logging/probing of Portal’s holes was conducted by an independent consulting service to define radioactive horizons hosting uranium mineralization. Two of the 18 holes returned equivalent grade percentages U3O8 (e%U3O8) above e0.02% U3O8 (0.44 lbsU3O8/tonne). Drill hole C-4 intersected 0.61 m (2 feet) averaging e0.55% U3O8 (12 lbs/tonne) between 579.5 feet (209.3m) and 581.5 feet (209.8m) in depth. According to the induction (conductivity) logs, the mineralization appears to be related to a narrow sandstone horizon within a shaly-sandstone unit believed to belong to the Jurassic age Salt Wash Member of the Morrison Formation. C-13 intersected 2.5 ft (0.76m) averaging e0.022% U3O8 between 591.5 feet (213.6 m) and 594.0 feet (214.5 m) in depth. The hole is located approximately 380 meters southwest of C-4. These intersections are interpreted as roll-front style mineralization in sandstone units formed in meandering fluvial channels.
An additional 8 of the 18 drill holes returned anomalous e%U3O8 values ranging from e less than 0.01% to e less than 0.02%U3O8. Three of these holes represent 100 meter step-outs to the south-southwest, east and west from C-4 The distribution of 4 of the holes containing anomalous e%U3O8 values plus C-4 suggest that there is a zone of interest trending east-west which measures approximately 30 meter wide by 400 meter long.
The company’s address is 750 – 625 Howe Street, Vancouver, BC V6C 2T6, 604.629.1929, fax: 604.629.1930, email: [email protected], www.portalresources.net.