Return to index November 17, 2011

SIGNIFICANT DISCOVERY ON HOTISH PROJECT: 0.621 % URANIUM OXIDE OVER 3 M TRUE WIDTH IN VOLCANICS NEAR SURFACE

DIOS EXPLORATION discovers a high grade uranium lens (1.85 % U3O8 over one-meter true width), with copper and lead mineralization in sub-vertical volcanics under two feet of sand on its wholly-owned HOTISH PROPERTY, adjacent to Cameco’s property, Otish Mtns, James Bay Agreement Land, QC.

Five horizontal diamond-saw channels crosscut the stripped mineralized lens along a fifteen meter length returning from north to south:

-           0.5042 % uranium oxide over 2 m (1.04 % U3O8 over 1 m)*

-           0.155 % U3O8 over 1 m (.087 % U3O8  over 2 m with 0.13 % copper)

-           0.621 % U3O8 over 3 m (1.85 % U3O8 / 1 m, 0.5% lead, 0.17 % Cu 0.5% vanadium)

-           0.1 % U3O8 over 1 m

-           0.532 % U3O8 over 1 m and0.165 % lead

* minimum 1 m long diamond saw channel samples taken in volcanics by independant firm IOS and assayed at Saskatchewan SRC following 3 distinct methods

Two grab samples returned 1,66 % U3O8 (0.131 % copper, 0.63 % lead, 1.5 % barium, 0.7 % vanadium) and 0,624 % en U3O8, respectively.  They were discovered in outcrop following manual stripping of a 64 000 et 30 000 cps sector, with associated uranophane and sulfides, mainly chalchopyrite.  A brecciated texture and a strong shear give a schistous look  and fragments are hematized in the brecciated areas.  Mechanical stripping was thus undertaken over a 15 m extent by 5 m width.   The mineralized lens seems to follow a north-south structure crosscutting the east-west sub-vertical sheared volcanics  (600 – 1000 m width) and could be further stripped along its extents with larger machinery or drilled at depth.

The actual Otish winter road and planned all weather road in the scope of the Quebec Government Plan Nord is located 15 km from the property, which overlaps the western unconformity of the Otish sedimentary basin.  This press release was prepared by Marie-José Girard, M.Sc. P.Geo., qualified person pursuant to National Instrument 43-101.

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