PLS Discovery Gathers Pace - 2nd Step-Out Hole Hits 37m of Continuous Mineralization, including total of 4.35m Off-Scale Radioactivity

If you’ve not seen our latest press release, the new drill program at PLS is already showing fantastic success and we’re only just at the start of the program! As you know, we announced a shallow depth, high grade discovery there in Nov 2012 and last month we began a $4 million drill program. The first two holes of the program were drilled at a 15m step-out to the west of hole PLS12-024 (12.5m @ 2.49% U3O8: see news release dated Nov. 12, 2012) with the following results:

• PLS13-027 - 37.0m continuous mineralization; total intervals >9999 cps – 4.35m
• PLS13-026 - 21.0m continuous mineralization; total intervals >9999 cps - 0.75m

Technical Highlights include:

• Hole PLS13-027: 37.0m wide interval of well-developed mineralization (60.5 – 97.5m) including intermittent intervals totaling 4.35m of radioactivity >9999cps. PLS13-027 was drilled 15m grid west of hole PLS12-024 and 10m grid south of PLS13-026.
• Hole PLS13-026: 21.0m wide interval of strong mineralization (63.0 – 84.0m) including intermittent intervals totaling 0.75m of radioactivity >9999cps. PLS13-026 was drilled 15m grid west of PLS12-024

As was the case with previous drill results from the fall 2012 program (holes PLS12-022, 023, 024 and 025), the mineralization occurs at shallow depth in basement rocks. The strongly radioactive intervals occur within a broader region of moderate radioactivity that extend above the Archean basement into the overlying sandstone and extends downward into the basement.

Please check out the full press release for further details.

Dev Randhawa