Uravan Stakes Second Land Position
August 11 2010 - 4:53PM
PR Newswire (Canada)
CALGARY, Aug. 11 /CNW/ -- TSVX: UVN CALGARY, Aug. 11 /CNW/ - Uravan
Minerals Inc. ("Uravan") has acquired its second land position in
the Athabasca Basin of Northern Saskatchewan. The Johannsen Lake
property consists of four (4) mineral dispositions totalling
approximately 18,000 hectares (44,477 acres) and is located along
the Black Lake shear zone. The acquisition of the Johannsen
property represents Uravan's continuing objective to obtain a major
land position in this uranium endowed district. Uravan is
aggressively pursuing the careful selection and acquisition of
underexplored terrain in the Athabasca Basin believed to have a
high potential for hosting unconformity-type uranium deposits using
a holistic basin approach. Commensurate with the staking of the
Johannsen property, a multifaceted surface geochemical survey
commenced. The sampling program is designed to evaluate the most
probable location of buried uranium mineralization based on the
identification of key multi-element signatures and isotope systems
by analysing soils and vegetation collected on overlapping 500
meter off-set grids covering the property. Like the recently
completed sampling program over the Outer Ring property, the
Johannsen surface geochemical program will capitalize on the
innovative techniques developed from a collaborative geochemical
orientation study by QFIR (Queen's Facility for Isotope Research)
and Uravan on the Cigar West uranium deposit (Cigar West Survey)
(Press Release dated May 19, 2009). The Cigar West Survey
determined that the highest concentration of classic Athabasca
unconformity-related uranium pathfinder elements and distinctive
isotopes occur over the surface projection of the known high-grade
Cigar West uranium deposit. This research has clearly identified
distinctive elements and isotopic compositions that have been
mobilized from that deposit to the surface media (plants and soils)
through about 450 meters of sandstone. One of Uravan's key
strategies in developing innovative geochemical techniques is to
advance the detection of uranium mineralization at greater depths
versus targeting blind geophysical conductors. The analytical
results from the Outer Ring geochemical program are scheduled to be
completed by early September 2010. It is anticipated that
additional sampling over specific areas of interest will be
required to complete the evaluation. The compilation and
interpretation of the geochemical database will be completed in
late 2010. Conditional on positive results from the geochemical
survey, a diamond drill program to test specific key surface
anomalies suggestive of uranium mineralization at depth will
commence in early 2011. A similar data evaluation schedule is
anticipated for the Johannsen property which, if completed and
conditional on positive results, will provide two properties in the
Athabasca Basin for drilling in 2011. The recent geochemical
surveys conducted on the Outer Ring and Johannsen properties will
be the focus of a new collaborative research study between QFIR and
Uravan. This new research study will capitalize on the recently
developed innovative geochemical protocols from the Cigar West
Survey plus develop new protocols for more reliable and definitive
indicators of uranium mineralization at greater depth to help
identify undercover deposits in the Outer Ring and Johannsen Lake
areas. Additional land acquisitions by Uravan in the Athabasca
Basin are anticipated in the near future.
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The Queen's Facility for Isotope Research (QFIR) at Queen's
University, Ontario is a state-of-the-art research facility,
comprising a group of highly experienced research geochemists. The
QFIR lab contains some of the most technologically advanced
analytical equipment in Canada. Under the direction of Dr. Kurt
Kyser, the QFIR research team is working collaboratively with
Uravan's technical group to develop new exploration technologies
using applied research. In addition to the QFIR research team, Dr.
Colin Dunn, an independent specialist in biogeochemistry, is
working closely with Uravan's technical group and QFIR to advance
the interpretation of biogeochemical results. Dr. Kurt Kyser and
Dr. Colin Dunn are key technical advisors for Uravan. Uravan is a
Calgary Alberta based R&D mineral exploration company
specializing in developing new uranium exploration technologies.
Our vision is to get to discovery faster and more cost effectively
in under- explored frontier areas. Uravan is pursuing exploration
for potential high-grade unconformity-related uranium deposits in
the Athabasca and Thelon Basins in Canada and other basin
environments globally. Uravan is a publicly listed company on the
TSX Venture Exchange under the trading symbol UVN. All of the
mineral properties Uravan owns are considered in the exploration
stage of development.
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This press release may contain forward looking statements including
those describing Uravan's future plans and the expectations of
management that a stated result or condition will occur. Any
statement addressing future events or conditions necessarily
involves inherent risk and uncertainty. Actual results can differ
materially from those anticipated by management at the time of
writing due to many factors, the majority of which are beyond the
control of Uravan and its management. The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or
accuracy of this release. please visit our website:
www.uravanminerals.com
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