URAVAN MOBILIZING EQUIPMENT FOR OUTER RING DRILLING
February 14 2011 - 12:49PM
PR Newswire (Canada)
CALGARY, Feb. 14 /CNW/ -- (TSVX: UVN ) CALGARY, Feb. 14 /CNW/ -
Uravan Minerals Inc. ("Uravan") recently began mobilizing
camp, fuel and equipment to its Outer Ring project in the Athabasca
Basin, Northern Saskatchewan. Mobilization is being expedited
during winter (freeze-up) conditions in preparation for an early
June 2011 diamond drill program. Based on encouraging results
obtained from the Outer Ring surface geochemical program completed
in 2010, five (5) diamond drill-holes are planned to test a number
of significant geochemical signatures. The Outer Ring property is
owned 100% by Uravan and located in the Athabasca Basin along the
Cable Bay shear zone in the Pasfield Lake area. The Outer Ring
property was acquired by Uravan in December 2009. A surface
geochemical program was completed in July 2010. The geochemical
data analysis and interpretation was concluded in December 2010.
The geochemical data from the Outer Ring sampling program
capitalized on new technology developed from a pilot study
conducted on the Cigar West uranium deposit (Cigar West Study)( 1).
The Cigar West Study was a collaborative applied research program
conducted by Uravan and QFIR (Queen's Facility for Isotope
Research) in 2009 over a known high-grade uranium deposit in the
Athabasca Basin. The study was designed to develop new surface
geochemical techniques that can better identify bedrock sources of
uranium mineralization at depth. This research clearly
identified distinctive elements and isotopic compositions that have
been mobilized from the deposit to the surface media from depths
450 meters. Based on our knowledge gained from the Cigar Lake
Study, encouraging results have been obtained from the Outer Ring
geochemical program that revealed positive lead (Pb) isotope
compositions and associated pathfinder elements found in certain
soil components, vegetation and tree-core samples. These
surface anomalies are trending and coincide positively with
regional geophysical survey data and other interpreted structural
features. Uravan's technical group have defined specific
geochemical targets that will be tested with five (5) diamond
drill-holes totalling approximately 5000 meters of drilling. The
Outer Ring project area is highly prospective geologically, albeit
untested and under-explored compared to the known high-grade
unconformity-related uranium deposits within the Eastern District
of the Athabasca Basin. The drill program planned at Outer Ring
will be the first significant exploration effort in this more
basin-ward region and even more significant considering the
drilling planned will target surface geochemical anomalies versus
blind EM conductors. Mr. Larry Lahusen, CEO of Uravan, "believes
the positioning of exploration drill-holes over surface geochemical
signatures to target potential bedrock source of uranium
mineralization is unique and could be an exploration 'game changer'
with respect to how uranium exploration is carried out in the
Athabasca Basin". Dr. Colin Dunn, P. Geo., technical advisor for
Uravan, is the Qualified Person for the purposes of NI 43-101 with
respect to the technical information in this press release. For
more information on the technical details of the Outer Ring
project, please visit:
http://www.uravanminerals.com/properties/outer_ring_project/ (1)The
Cigar Lake deposit is on the Waterbury/Cigar uranium property; a
joint venture partnership between Cameco Corporation, AREVA,
Idemitsu Kosan Co. Ltd., and Tokyo Electric Power Co. [TEPCO])
located in the Athabasca Basin, Saskatchewan. Uravan thanks both
AREVA and Cameco for their collaboration and gracious support for
the Cigar West Study; and the support provided by the Cigar Lake
facility during our field operations. 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. 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
uranium exploration company that engages in applied research to
develop new innovative technologies to identify buried uranium
deposits in under-explored areas. Our vision is to get to discovery
faster and more cost effectively in under-explored frontier
regions. 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. 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. Neither the 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. To view this news release
in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/February2011/14/c2520.html
pLarry Lahusen, CEObr/ Uravan Minerals Inc.br/ Tel: 403-264-2630br/
Email: a
href="mailto:llahusen@uravanminerals.com"llahusen@uravanminerals.com/a,br/
Website: a
href="http://www.uravanminerals.com"www.uravanminerals.com/a/p
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