Bayswater Uranium Corporation (TSX-V: BYU), (OTC: BYSWF) 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 www.otisgold.com/projects/kilgore/.
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 “BYU”. For further information visit www.bayswateruranium.com.
On behalf of the Board of:
BAYSWATER URANIUM CORPORATION
George M. Leary
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.
John Gomez, 604-687-2153
Manager, Investor Relations