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("CNEA") in the 1970's. The previously reported historical resource estimate, which was based on information from an unpublished CNEA technical report (La Pintada, 1980, by Perez, CNEA unpublished), was small and immaterial to the Company.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
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...