|By Marketwired .||
|September 25, 2013 07:00 AM EDT||
DENVER, CO -- (Marketwired) -- 09/25/13 -- Cyclone Uranium Corporation (OTCQB: CYUR) announced the receipt of a technical report titled "Cyclone Uranium Project Technical Report - Exploration Target" (Report), dated September 16, 2013. The information presented in the Report is based on work conducted by Cyclone Uranium coupled with the compilation of historic exploration work by Tournigan USA and Kerr McGee Corporation. The Report was prepared by the engineering firm of BRS Inc. (BRS) of Riverton, Wyoming, on behalf of Cyclone Uranium for certain of its state mineral leases and federal mining claims located in the Great Divide Basin in Sweetwater County, Wyoming (the "Project"). The Report describes land tenure, regulations, property history, geology, uranium occurrence, and competitor activity in the Great Divide Basin. The Report recommends a Phase I work program on the Project that includes surface gamma and radon gas survey followed by a Phase II drill program of up to 100 drill holes. The Report will not be posted on Cyclone Uranium's website, but can be accessed by signing a non-disclosure agreement with the Company.
The Project is without known reserves and the proposed Project is exploratory in nature.
An Exploration Target has been calculated for the Project based on interpretation of mineralization as Sandstone-Type Roll Front as follows:
Exploration Target Quantities:
--------------------------------------------------- Tonnes Grade % eU3O8 --------------------------------------------------- Lower Limit 17,220,000 0.063 --------------------------------------------------- Upper Limit 48,900,000 0.056 ---------------------------------------------------
BRS has reviewed all of the available data relative to the Exploration Target, digitized the historic geophysical logs, obtained calibration data for the various geophysical logging units, and independently calculated the equivalent uranium grades. The database used for this Report was prepared by BRS using standard industry methodologies. Based on review of the data collection and preservation methods employed by the Company, BRS is of the opinion that the field practices employed are in keeping with industry standards.
All tonnes and grades of uranium should not be construed to reflect a calculated mineral resource (inferred, indicated, or measured). The potential quantities and grades, as stated in the Report, are conceptual in nature and there has not been sufficient work to date to define a compliant resource. Furthermore, it is uncertain if additional exploration will result in the discovery of an economic mineral resource on the Project.
The author of the Report on the Project is Mr. Douglas Beahm, P.G., P.E., of BRS. Mr. Beahm is experienced with uranium exploration, development, and mining, including past employment with the Homestake Mining Company, Union Carbide Mining and Metals Division, and AGIP Mining USA. Mr. Beahm has provided geological and engineering services relative to the development of mining and reclamation plans for a variety uranium projects. His experience dates back to 1974 and he has direct work experience in the Great Divide Basin in Wyoming.
"The BRS technical report gives Cyclone a solid footing on which we expect to launch a drill program in the Great Divide Basin," said James Baughman, Chairman and CEO. "Our properties are adjacent to some highly productive uranium operations and we're confident that we have a solid asset base upon which to build a fully integrated uranium exploration company."
About Cyclone Uranium
Cyclone Uranium Corp. (formerly Fischer-Watt Gold) is a U.S. junior mine exploration company traded on the OTCQB under the symbol CYUR. The Company's management team has a strong background in all facets of the mineral industry, especially in exploration, production and financing. The Company is focused on advancing its portfolio of uranium exploration properties, which include mineral claims and leases totaling over 23,000 acres primarily in Wyoming, but also in Arizona, and covers some of the most prospective uranium-bearing geology in the United States. Nuclear energy generation and the demand for uranium is expected to continue to increase over the coming years as chiefly Asian countries strive to generate large-scale, stable and economical power with a low carbon footprint. Cyclone Uranium aims to be a future provider to power utilities of the basic mined source of their needed fuel, a non-enriched product known as yellowcake.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those projected in the forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. Statements in this press release about the favorable location of the Company's strategic land position, plans to commence a drill program, the Company's confidence in its asset base, and plans to build a fully integrated uranium exploration and development company are forward-looking statements. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance such beliefs, plans, expectations or intentions will prove to be accurate. Cyclone Uranium has no known reserves and is an exploration stage company. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
For further information please contact:
Mr. James Baughman
Chairman & CEO
Cyclone Uranium Corp.
Email: Email Contact