Bayswater Uranium Corporation (TSX-V: (OTC: reports that Otis Gold Corp ('Otis?) has announced it has initiated
a five-hole, 2,000-metre, core drilling program at Bayswater′s Dog Bone
Ridge gold target located 1,400 metres west of its Kilgore 'Mine Ridge'
gold deposit in Clark County, Idaho, in which Otis can earn up to a 75%
interest. Otis is drilling Dog Bone Ridge with the intent of identifying
a new, potentially bulk-mineable deposit that lies near and is possibly
related to the Kilgore gold deposit. The drilling is designed to test
four, sizeable Controlled Source Audio-Magneto Telluric (CSAMT)
geophysical anomalies delineated in the target area by Otis during the
Fall of 2009, two of which correspond with significant historic
bulk-tonnage and/or high-grade gold intercepts, which have never been
offset and are outlined below. Gold mineralization in these historic
holes is intimately associated with diking, just as it is at 'Mine
Ridge.'
Of the five CSAMT anomalies that underlie the Dog Bone Ridge target
area, only two contain limited historic drilling. Of these two
anomalies, the most northerly, Target 1, contains core hole, KG-04-02,
drilled by Kilgore Gold in 2004. This hole intercepted 51.8 m @ 1.25 g/t
Au and will be offset in several directions to determine geometry and
continuity of the gold mineralization. One historic Echo Bay drill hole
(96-EKC-178) that penetrated a weak portion of the high resistivity
CSAMT anomaly at Target 3 intercepted 99.4 m @ 0.43 g/t Au. This hole
will be offset 300 m to the east in the main portion of the anomaly. The
two remaining high priority CSAMT anomalies, to be tested by Otis,
contain no historic drilling. Locations of Otis' five planned holes are
shown on a drill-hole location map available on the Otis Gold Corp.
website at
The Dog Bone Ridge HQ3-size core drilling is being performed by
Timberline Drilling, Inc., Coeur d'Alene, Idaho, employing a Sandvik
DE-140 core drill outfitted with a triple-tube core recovery system and
face-discharge bits. Drilling is being conducted on a full-time,
around-the-clock basis, with all results anticipated to be reported by
the end of the year.
About Bayswater Uranium Corporation - The Super Junior Uranium Company
TM
Bayswater Uranium Corporation is an international uranium exploration
and development company. The Company owns several advanced uranium
properties in the United States with significant NI 43-101 compliant and
historical resources that may be amenable to ISR and/or conventional
mining. With the acquisition of the Reno Creek Property in Wyoming, the
Company′s focus is to put Reno Creek into production in the shortest
period possible. The Company′s Elkhorn/Alzada Project, located
approximately 100 miles northeast of Reno Creek, is a planned
development project for possible future US production. As well,
Bayswater is the only uranium company to have major landholdings in each
of Canada's most important producing and exploration regions - the
Athabasca Basin, the Central Mineral Belt, and the Thelon Basin.
Bayswater combines a balanced portfolio of advanced and exploration
projects with the uranium expertise of its technical and managerial
teams. To capitalize on current market conditions and strong growth of
the nuclear industry, the Company will continue to pursue acquisition
opportunities of advanced-stage uranium projects with mid-term
production potential. Bayswater's vision is to build a major
international uranium company. Shares of the Company are listed on the
TSX Venture Exchange under the symbol ' For further information visit
On behalf of the Board of:
BAYSWATER URANIUM CORPORATION
George M. Leary
President
Statements in this news release other than purely historical
information, including statements relating to the Company′s future plans
and objectives or expected results, constitute forward-looking
statements.Forward-looking statements are based on numerous
assumptions and are subject to all of the risks and uncertainties
inherent in the Company′s business, including risks inherent in mineral
exploration, development and mining.There can be no assurance
that such forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements.Accordingly, readers should not
place undue reliance on such statements.The Company does not
undertake to update any forward-looking statements that are incorporated
by reference herein, except in accordance with applicable securities
laws.Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
