News Releases
Athabasca Announces an update to its Minerals Exploration Program
Edmonton, Alberta - July 4, 2007 - Athabasca Minerals Inc. (TSX Venture: ABM) has recently completed a field exploration program on the company's mineral properties in northern Alberta. This field program was directed toward evaluating the potential for the diamonds and silica sand.
The exploration team was grouped into two parties, one focusing solely on diamonds exploration, and the other primarily evaluating silica sand prospects with some diamond overlap. To lead the diamond exploration phase, Athabasca Minerals retained the services of Ms. Sherri Hodder, M.Sc., P.Geo, an independent geological consultant with broad experience exploring for diamonds in Canada. Ms. Hodder brings to the company the advantage of having worked on several grassroots properties in the Northwest Territories, Nunavut, Saskatchewan and Ontario. Most recently, she was under contract during the pre-feasibility phase of a project in the Fort a la Corne area, and as Project Manager for a diamond exploration company in the Candle Lake area, both in Saskatchewan.
With Athabasca, Ms. Hodder has assembled a team of three field assistants with past exploration experience for the systematic collection of stream sediment samples on 100% company held properties in the Birch Mountains area. Mineral chemistry analyses of diamond indicator minerals and assessment of potential kimberlite are the primary focus of this phase of exploration.
The silica exploration phase of this program was under the direction of Mr. Darrell Cotterill, P.Geol, also an independent consultant. Mr. Cotterill brings to the team expert knowledge of the geology of northern Alberta, particularly the oil sands area, and has served as the "qualified person" for company documentation prepared under requirements for National Instrument 43- 101. Among other works, he has mapped in detail the subsurface distribution of the Pelican Formation - host unit of the silica deposits targeted for this program.
Mr. Cotterill's tasks for the program included shallow auger drilling over projected near-surface occurrences of the Pelican Formation, to test for the presence of silica and also to provide surficial sample material for the diamond indicator mineral survey. Included as well was a revisit to the Pelican outcrop on Greystone Creek, for a more systematic sampling of the exposure and location of a suitable drill site. Sampling of surficial material around aeromagnetic targets identified on company permit lands was also conducted as part of the diamond indicator mineral survey.
Mr. Cotterill's exploration team includes three assistants, plus a senior geologist, Mr. Don Peel, M.Sc., P.Geol, who brings an extensive background of experience in characterizing industrial mineral. Both the diamonds and silica sand exploration parties were helicopter supported. After the evaluation of mineral samples, Athabasca Minerals plans to continue with the exploration program in August 2007.
Mr. Wylie Hamilton, P.Eng., Vice President, Chief Geologist is identified as Athabasca Minerals's qualified person for this news release.
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.
Further Information:
For further information, please contact Dom Kriangkum, P.Eng., President and CEO of Athabasca Minerals Inc. at (780) 465-5696 or Mike Rousseau, a Consultant to Athabasca Minerals Inc. at (403) 816-1947.
This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Athabasca Minerals. The forward-looking statements or information contained in this news release are made as of the date hereof and Athabasca Minerals does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
