Completion of Technical Report for Peace River Aggregate Deposit
September 24, 2007
September 24, 2007 - EDMONTON, ALBERTA - Athabasca Minerals Inc. (TSX.V:ABM) (the "Company") is pleased to announce that it has received a technical report for the Grimshaw Sand and Gravel property, located in the Peace River region of Northeast Alberta, Canada. This report serves to outline the technical merits of the Grimshaw property, and confirms the resource potential of the deposit. The following conclusions have been documented in the report:
- Based on published geological data and two drilling programs, the property has high potential for aggregate resource development
- Total measured resource quantity of the property exceeds 10 million tonnes
- Quality of the resource has been evaluated as "a good prospect for construction projects"
In addition to these conclusions a number of recommendations have been proposed which include:
- Design a mining proposal that employs sustainable development principles and addresses the protection of the water resource
- Determine if a hydrological study is required to design a non-invasive extraction operation
- Determine if seasonal precipitation rates should be factored into the operational design
- Build community relations
- Consider development potential of adjoining properties
- Assess potential to recover other mineral values of the deposit
- Continually check for historical resource attributes within the gravels
This technical report has been prepared by Don Peel, P. Geol, a qualified person under National Instrument 43-101, and independent to the Company. The qualified person has reviewed and approved the content of this press release.
A full copy of this technical report will be filed on SEDAR and will also be available on the company's website. This website should be fully operational by October 2007.
Athabasca management views the conclusions and recommendations of this report as extremely positive in the continued development of this Sand and Gravel deposit. The management team of Athabasca has a proven track record of well-managed pit operations, acknowledged by receiving the Alberta Sand and Gravel Associations award for having the best operated pit on public land three times. The report recommendations will be incorporated into the Company's development strategy for this project and other lands which includes 710,000 hectares of permit lands around Fort McMurray.
About Athabasca Minerals
Athabasca Minerals Inc. is an innovative exploration company formed to explore for mineral resources other than oil, gas and oil sands in northeast Alberta. The company's aim is to find and develop local sources of the minerals essential to the economic development of the region (i.e. minerals used in oil sand processing, construction, and in the everyday requirements of community living). The company's permit holdings of 710,023 hectares in the vicinity of Fort McMurray, Alberta have exploration prospects for an assortment of industrial minerals including salt, silica sand, gypsum, limestone, and diamonds.
Independent from its mineral exploration activities, the company is also pursuing sand and gravel exploration and development projects throughout northern Alberta. These activities include contract works, gravel pit management, new gravel pit development and the acquisition of other sand and gravel operations.
For more information, please contact
Athabasca Minerals Inc.
Dom Kriangkum, P.Eng.
President and CEO
Athabasca Minerals Inc.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.