Xemplar Energy Corp.
XEMPLAR BEGINS DRILLING AT ITS WARMBAD PROJECT IN NAMIBIACooper Minerals Inc.:
Xemplar Energy Corp / Miscellaneous
Release of a Corporate News, transmitted by DGAP – a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Vancouver, October 15th 2007 – Xemplar Energy Corp (TSX-V: XE, Frankfurt
Exchange: E7R) (‘Xemplar’ or the ‘Company’) is pleased to announce that it
has commenced drilling at its wholly owned Warmbad uranium Project (EPL’s
3567 and 3568) in Namibia. This drill program on the Warmbad uranium
project will represent the first holes drilled for uranium in the Warmbad
area.
Xemplar has commenced drilling using its own drill rig; two further reverse
circulation (RC) rigs have been purchased. These are expected to arrive in
Namibia over the next few weeks. In addition to this the company has
entered into a contract with a local drilling company to immediately begin
drilling of some 15,000 metres of RC drilling at Warmbad. The drilling
operations at Warmbad are under the supervision of Ralf Wartha, project
geologist.
The first holes are currently being drilled on the Gaidip-Sandfontein sill.
This sill is an outcropping, uranium-bearing coarse grained, white, graphic
alaskite, locally known as Big Yellow. Big Yellow appears to be part of a
north easterly dipping anticlinal structure. The purpose of these first
drill holes will be to test the depth extent of the alaskite and the extent
to which it is mineralised. Surface assays from Big Yellow were previously
reported in a Company Press Release, dated 2007-05-07.
The company believes it has effectively discovered a new uranium province
in the Warmbad area of Namibia, with over 14 distinctly mineralised
alaskitic bodies distributed over an area of approximately 40 kms by 28
kms. Fieldwork has been ongoing and many new bodies have been discovered. A
large airborne radiometric/magnetic survey has recently been completed.
This survey was carried out by Fugro Airborne Surveys (Pty) Ltd. and some
22,500-line kms of helicopter data has been acquired and interpreted.
Plots generated from this airborne data set include uranium to thorium
ratio maps and these maps have been found to be particularly useful in
identifying outcropping Alaskitic bodies. Surface sampling of these bodies
has shown them to be clearly mineralised (Press Release, Dated:
2007-05-07).
The latest new alaskites have been discovered on the Farm Girtis-109.
These outcropping bodies are clearly mineralised and have strike lengths of
approx 3 and 2 kms respectively; they vary in width from around 500 metres
to just under 900 metres. They form distinct uranium anomalies on the
airborne data covering the area.
Two Mount Sopris, Spectral Gamma Logging systems have been received; these
will be calibrated at the Pelindaba calibration site in South Africa. These
units will be used to radiometrically log all of the holes being drilled at
Warmbad.
Financial position
Xemplar has over $11-million in cash which is invested in short-term
deposits. As a result, the company is well positioned to enable it to
advance its various exploration projects in Namibia.
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has
approved the technical content of this news release.
On behalf of the Board of Directors,
Xemplar Energy Corp.
W.G. McDowall
President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS
RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY SECURITIES IN ANY JURISDICTION. ‘SAFE HARBOR’ STATEMENT UNDER
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE
CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE
SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO
DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.
Nadina Arnautovic
+49 (69) 959246 – 0
16.10.2007 Financial News transmitted by DGAP
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