VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 15, 2007) - Cash Minerals Ltd.
(TSX VENTURE:CHX) today announced that drilling on the ODIE property intersected
visible copper, as native copper, in two intersections. Copper mineralization
occurs within two intervals that are approximately 11.0 m and 5.7 m thick. These
intervals of native copper appear to occur in association with significant
veining and chlorite alteration of the metasedimentary basement rocks of the
"Geological targeting for the first phase of drilling completed by our
exploration team led by Dr. Geordie Mark demonstrates the benefits of applying
cutting-edge modeling technology to geophysical data. In the case of Odie,
integration of geophysical models with geological data has allowed us to target
at depth areas of interest more precisely, which is encouraging as comparable
methods are employed to discover massive IOCG-U (iron-oxide copper-gold uranium)
systems in Australia," commented Basil Botha, President and Chief Executive
Officer of Cash Minerals. Drill hole assays from the first set of holes at Odie
are expected to be released in June.
Native copper, which represents the natural metal form of copper, is soft,
malleable and dense. In drill hole 2007-OD-01R (01R), native copper typically
occurs as irregular masses and fillings in open spaces within veins in two
intervals at 423.6-434.6 m (11.0 m), and 526.4-532.1 m (5.7 m). Native copper is
commonly formed by the mobilization of copper in fluids, where in some cases the
copper is often shown to be derived from proximal 'copper' sulphide (e.g.,
chalcopyrite and bornite) deposits. "These intersections of native copper
provide some very exciting results for our stage one drilling program on the
Odie property, as it gives us an indication that copper mineralization is
present. We plan to follow up on this hole later this season," said Dr Geordie
Mark, Vice-President Exploration.
Vein-controlled and disseminated pyrite mineralization also occurs sporadically
in drill hole 01R between 495.1 and 563.9 m (To view an image of this core,
please visit the Cash Minerals website at
Exploration and camp planning for the 2007 season is currently underway, with
stage one drill plans near completion for the Igor and Lumina properties.
"Planning for the 2007 exploration season is progressing well, and with five
drills confirmed for Cash Minerals, our six full-time staff geologists are busy
finalizing the 2007 drilling exploration program," commented Dr. Mark. Other
properties within the Wernecke Uranium District to be explored later this season
include the Vic, Bond, Angel and Bonnie properties. Exploration in the Wernecke
Uranium district is being conducted under the supervision of Mr. Christopher K.
Hutchings, P.Geo., who is the qualified person as specified in National
Instrument 43-101 for technical disclosure. Mr. Hutchings is President of Kiex
Consulting Limited, a professional geoscience consulting company.
About Cash Minerals
Cash Minerals (www.cashminerals.com) is an emerging publicly listed energy
company focused on uranium, coal and alternative fuels (synfuels). Under an
agreement with Mega Uranium Ltd., Cash Minerals has the option to earn a 75%
interest in uranium projects located in various parts of the Yukon. These highly
prospective projects include numerous iron-oxide copper-gold (IOCG),
structurally-controlled hydrothermal uranium targets.
The Company is also engaged in exploring and developing coal properties in
southwest Yukon Territory. The Company's Division Mountain project has a
measured resource of 52.5 million tonnes of high Volatile "B" Bituminous coal
(see NI 43-101 report dated December 21, 2005), which occupies less than five
percent of Cash Minerals' total coal leases in the Yukon. The potential exists
to provide this coal as feedstock for a mine-mouth power station. Cash Minerals
is also pursuing the development of a coal mine in China that would provide
feedstock to an adjacent coal-to-liquids (CTL) plant, which would utilize the
Fischer-Tropsch process to convert coal into clean-burning fuel.
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