URAVAN CLEARED FOR DRILLING AT OUTER RING
May 09 2011 - 9:57AM
PR Newswire (Canada)
CALGARY, May 9 /CNW/ -- (TSVX: UVN) CALGARY, May 9 /CNW/ - Uravan
Minerals Inc. (Uravan) has been granted permission by the
Saskatchewan Ministry of Environment (SEM) to conduct a five (5)
diamond drill-hole program on its Outer Ring (OR) project. Final
project mobilization and commencement of drilling operations is
scheduled for early June 2011; subsequent to winter break-up. The
OR property was acquired in December 2009 and is 100% owned by
Uravan. The project area is located in the Athabasca Basin along
the Cable Bay shear zone in the Pasfield Lake area. Uravan
completed a multifaceted surface geochemical program on the OR
property in July 2010. The geochemical data from the OR sampling
program capitalized on new geochemical 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 (geosphere) to the
surface media (plants and soils) from depths 450 meters. Based on
our knowledge gained from the Cigar Lake Study, encouraging results
have been obtained from the OR geochemical program that revealed
positive lead (Pb) isotope compositions and associated anomalous
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 surface geochemical targets that will be
tested with five (5) diamond drill-holes totalling approximately
5000 meters of drilling beginning in June 2011. The OR property is
under-explored compared to the high-grade unconformity-related
uranium deposits currently being exploited within the Eastern
District of the Athabasca Basin. The drill program planned will be
the first significant exploration effort conducted in this more
basin-ward region and even more significant considering the
drilling planned will target surface geochemical anomalies versus
blind geophysical (EM) conductors. 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 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 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/May2011/09/c2572.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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