ASX/MEDIA RELEASE17 April 2008TARGETS URANIUM & IRON ORE IN...

ASX/MEDIA RELEASE
17 April 2008
TARGETS URANIUM & IRON ORE IN PILBARA
• New project generated with excellent prospectivity for uranium and iron ore
• Adjacent to Balmoral Iron Ore Deposit, Infrastructure and Port Facilities
• Seeking Magnetite and Hematite Iron Ore, Sandstone Roll-Front Uranium deposits
• Dual Uranium & Iron Ore Exploration Strategy to commence in Pilbara
Uranium exploration company Epsilon Energy Limited (ASX: EPS) is pleased to announce it has
generated a new exploration project covering 224km2, considered prospective for Sandstone
type roll-front Uranium deposits, as well as Magnetite and Hematite Iron Ore deposits, located
110km south west of Karratha, in the Pilbara region of Western Australia.
Epsilon Managing Director Mr Matt Gauci said the project represents excellent prospectivity for
two high value commodities located within the Pilbara, recognised as a world class mining
province.
“Given the favourable geological characteristics and geophysical responses, as well as easy
access to water and power, the project represents an excellent upside exploration opportunity.
Grant of the project, subsequent remote sensing surveys, field work and drilling, is expected in
the second half of 2008.”
The project displays an intensive radiometric anomaly and palaeochannel stratigraphy,
prospective for sandstone type roll-front uranium deposits, adjacent to Mt Salt Uranium project.
Additionally, the project demonstrates prospective Hamersley Group stratigraphy including an
extensive Banded Iron Formation (BIF) anomaly covering 10km X 2.5km prospective for
magnetite rich iron ore, and interpreted Brockman Formation prospective for Hematite iron ore
within a trending fault of the main anomaly, and as oxidised product above the anomaly.
To the north east of the tenement, the Balmoral resource hosts an estimated to 60-100 billion of
tonnes of magnetite rich BIF iron ore, and development of the Balmoral resource, infrastructure
and proposed public access Port Facilities, is currently underway, by Australasian Resources
Limited (Australasian) and CITIC Pacific Ltd (CITIC).
To the south east, Channel Iron Deposits of iron rich alluvium, the Robe conglomerate, are
mined, particularly at Robe Mesa A and Robe Mesa J by the Rio Tinto Group (Rio Tinto).
To the south of the tenement, Uranium occurs as sandstone type roll front deposits, such as
Manyingee, within Cretaceous palaeochannels.
The company will commence native title and landowner discussions immediately, and it is
anticipated a remote sensing survey, field work and drilling will be followed soon there after.
- ENDS -
For more information please contact:
Matt Gauci
Managing Director
T: +61 8 9212 9888
Paul Downey
Porter Novelli
T: +61 8 9386 1233
Or visit: www.epsilonenergy.com.au