URAVAN MINERALS INC. - EXPLORATION GEOCHEMISTRY FOR DEEP URANIUM DEPOSITS
April 26 2011 - 9:47AM
PR Newswire (Canada)
CALGARY, April 26 /CNW/ -- (TSVX: UVN) CALGARY, April 26 /CNW/ -
Uravan Minerals Inc. (Uravan) has entered into an applied research
study with the Queen's Facility for Isotope Research (QFIR) and the
Natural Sciences and Engineering Research Council of Canada
(NSERC)( 2). Uravan is funding QFIR through a Collaborative
Research and Development grant (CRD grant), with matching funds
from NSERC. The goals of this new study, called 'Exploration
Geochemistry for Deep Uranium Deposits', are: (1) to apply recently
developed geochemical protocols (the Cigar Lake Study)( 1) for
remote sensing of deeply-buried deposits on Uravan's Outer Ring
(OR) and other Athabasca Basin projects; and (2) to develop new
protocols for more reliable and definitive indicators of
mineralization at depth in these highly prospective but
under-explored basin areas. The CRD grant is for a term of three
(3) years. Uravan is funding one-hundred-thousand dollars
($100,000) per year plus the cost of field support. These amounts
funded by Uravan are matched by NSERC to the amount of one-hundred
and five thousand dollars ($105,000) per year over the three (3)
year term of the grant. Surface geochemical surveys over Uravan's
Outer Ring (OR) and Johannsen Lake (JL) projects have capitalized
on new technology developed from a study conducted at the Cigar
West uranium deposit (Cigar West Study)( 1). The Cigar West Study
was a collaborative applied research program conducted by Uravan
and QFIR in 2009 over a known high-grade deeply-buried uranium
deposit. The study was designed to develop new surface geochemical
techniques that can better identify bedrock sources of uranium
mineralization at depths. This research clearly identified
distinctive elements and isotopic compositions that have been
mobilized from the deposit to the surface media (soils and plants)
from depths 450 meters. Based on the knowledge gained from the
Cigar Lake Study, encouraging results have been obtained from the
OR and JL geochemical programs that revealed positive lead isotope
compositions and associated pathfinder elements found in certain
soil components, vegetation and tree-core samples. The
surface anomalies on the OR and JL projects are trending and
coincide positively with regional geophysical survey data and other
interpreted structural features. Starting in June 2011, a five (5)
drill-hole program will commence on the Outer Ring project.
Drill holes are positioned to test specific areas having the best
geochemical anomalies. Commensurate with the OR drilling program,
multifaceted surface geochemical surveys will be conducted on the
recently acquired Math Option, Halliday and Stewardson Lake
projects. Samples and data collected from these programs will be
the initial focus of the collaborative research study between
Uravan and QFIR. Under the direction of Dr. Kurt Kyser, QFIR
is working collaboratively with Uravan's technical group to provide
high-resolution analytical work; guidance in the collation,
compilation and interpretation of specific element arrays; and the
study of additional isotope systems that are considered positive
uranium markers of buried uranium mineralization. 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 at depth 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 these projects, 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. (2)NSERC aims to make Canada
a country of discoverers and innovators for the benefit of all
Canadians. The agency supports university students in their
advanced studies, promotes and supports discovery research, and
fosters innovation by encouraging Canadian companies to participate
and invest in postsecondary research projects. NSERC researchers
are on the vanguard of science, building on Canada's long tradition
of scientific excellence. The Queen's Facility for Isotope Research
(QFIR) at Queens'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
diversified mineral exploration company that utilizes applied
research to develop new innovative exploration technologies to
identify buried uranium, rare earth elements (REE) and
nickel-copper-platinum group element (Ni-Cu-PGE) deposits in
under-explored areas. Our exploration focus in uranium is for
potential high-grade unconformity-related uranium deposits in the
Athabasca and Thelon Basins in Canada and other basin environments
globally. Uravan is expanding its acquisition efforts toward REE
geological domains in North America and specific areas globally.
The REE and uranium mineralization occur in related geological
environments thereby complementing the Uravan's uranium exploration
efforts with a strategy to add diversification to its portfolio.
Further, Uravan is pursuing the exploration of its advanced stage
Rottenstone Ni-Cu-PGE project supported by the development of new
drill targets defined by recent geophysical
re-interpretation. 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/April2011/26/c6789.html
p Larry 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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