Click here to close now.

Welcome!

News Feed Item

Calypso Clarifies Previous Disclosure

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/17/12 -- Calypso Uranium Corp. ("Calypso" or the "Company") (TSX VENTURE:CLP) is issuing this news release as a result of a review by the British Columbia Securities Commission ("BCSC") and to clarify previous disclosure.

La Pintada Project, Argentina

The Company's La Pintada Project is located in Mendoza Province, Argentina. The Company's website (the "Website") previously included disclosure of a uranium resource estimate for the La Pintada Project. The La Pintada Project was previously the subject of diamond core drill programs conducted by the National Atomic Energy Commission ("CNEA") in the 1970's. The previously reported historical resource estimate, which was based on information from an unpublished CNEA technical report (La Pintada, 1980, by Perez, CNEA unpublished), was small and immaterial to the Company.

The previously disclosed historical resource estimate did not use the resource categories prescribed by Canadian National Instrument 43-101 ("NI 43-101") adopted by the CIM Council and also did not include the information required by NI 43-101 regarding quantities and grades of resources. A qualified person has not been able to verify the resource estimate and is not able to classify such estimate as current mineral resources in accordance with NI 43-101. The Company is not treating this resource estimate as a current mineral resource as defined in NI 43-101 and this resource estimate is not necessarily indicative of potential quantities or grades of mineralization on the Company's La Pintada Project. Because the previously disclosed uranium resource was not compliant with NI 43-101 disclosure requirements applicable to all disclosure of resource estimates, the Company retracts its prior disclosure of the uranium resource.

Adjacent and Proximate Properties

The Website also previously included disclosure of resource estimates for the Sierra Pintada uranium mine. The Company's La Pintada Project is located adjacent to and surrounds the southern portion of the Sierra Pintada uranium mine properties. The Sierra Pintada uranium mine is not owned by the Company and is controlled by CNEA. The Sierra Pintada uranium mine was in production from 1976 until 1998, after which it was put into stand by. The information relating to the reserves and grades at the Sierra Pintada uranium mine was derived from public disclosure made by CNEA including a report titled "Yacimiento Doctor Baulies y otros depositos del distrito uranifero Sierra Pintada, Mendoza", Salvarredi, Julio, 1999 at "Recursos Minerales de la Republica Argentina", Ed. E. O. Zappettini, Instituto de Geologia y Recursos Minerales SEGEMAR, (Anales 35: 895-906, Buenos Aires). A further report titled "The Uranium 2011: Resources, Production and Demand", 2012, by the Organisation for Economic Co-operation and Development ("OECD"), Nuclear Energy Agency ("NEA"), and International Atomic Energy Agency ("IAEA") (OECD 2012 NEA N degrees 7059), includes new resource estimates for the Sierra Pintada uranium mine as of January 1, 2011 (the "Uranium 2011 Report").

The Company's news release dated February 22, 2012 (the "February News Release") and the Website previously included disclosure about resource estimates about the Cerro Solo uranium deposit. The Cerro Solo deposit referred to in the February News Release and the Website is a deposit controlled by the CNEA and not by the Company. CNEA's Cerro Solo deposit is located approximately 30km north of the Company's San Blas properties included in the Company's San Jorge Basin Project. The Cerro Solo deposit has been the subject of extensive historical exploration activity. Resource estimates for the deposit included in the February News Release and the Website were extracted from in public reports released by CNEA, titled, "El Deposito Cerro Solo", 2005, Comision Nacional de Energia Atomica, Argentina" and "El Proyecto Cerro Solo, Provincia de Chubut: Un proyecto promisorio, 2007, Comision Nacional de Energia Atomica. Argentina". Further disclosure of resource estimates was included in the Uranium 2011 Report.

The previously disclosed resource estimates regarding the CNEA's Cerro Solo deposit and the CNEA controlled Sierra Pintada uranium did not use the resource categories prescribed by NI 43-101 adopted by the CIM Council, and did not include the information required by NI 43-101 regarding quantities and grades of resources. A qualified person has not been able to verify the previously disclosed resource estimates and is not able to classify such estimates as current mineral resources in accordance with NI 43-101. The Company is not treating these estimates as current mineral resources as defined in NI 43-101 and these estimates are not necessarily indicative of potential quantities or grades of mineralization on the Company's own properties. Because of their non-compliance with NI 43-101, the Company retracts its prior disclosure of the uranium or U3O8 resource or reserve estimates for the adjacent Sierra Pintada and nearby Cerro Solo properties.

As previously disclosed by the Company, the Company has placed all operations on the Company's properties in Argentina on care and maintenance and has closed its Mendoza office.

Guillermo Pensado, the Company's VP of Exploration, a Qualified Person as defined by NI 43-101, approved this news release.

About Calypso

Calypso Uranium Corp. is a mineral exploration company whose principal focus is the exploration and development of uranium properties in Argentina. Calypso holds approximately 442,000 hectares or 4,420km2 of claims and mineral concessions in the provinces of Chubut, Mendoza and Neuquen. Further information is available under the Company's profile at www.sedar.com.

CALYPSO URANIUM CORP.

Stephen Barley, President & CEO

Shares Outstanding: 50,630,819

Neither 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 release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud envir...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users? Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
"We have been in business for 21 years and have been building many enterprise solutions, all IT plumbing - server, storage, interconnects," stated Alex Gorbachev, President of Intelligent Systems Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional Social, Mobile and Cloud user experiences, our solutions help large and medium-sized organizations dramatically improve produc...
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult – let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and liv...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
Connected things, systems and people can provide information to other things, systems and people and initiate actions for each other that result in new service possibilities. By taking a look at the impact of Internet of Things when it transitions to a highly connected services marketplace we can understand how connecting the right “things” and leveraging the right partners can provide enormous impact to your business’ growth and success. In her general session at @ThingsExpo, Esmeralda Swartz...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet condit...
IT data is typically silo'd by the various tools in place. Unifying all the log, metric and event data in one analytics platform stops finger pointing and provides the end-to-end correlation. Logs, metrics and custom event data can be joined to tell the holistic story of your software and operations. For example, users can correlate code deploys to system performance to application error codes. In his session at DevOps Summit, Michael Demmer, VP of Engineering at Jut, will discuss how this can...
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...