STRATEGY FOR DISCOVERY AT THE EXPLORATION FRONTIER
May 18 2011 - 2:36PM
PR Newswire (Canada)
CALGARY, May 18 /CNW/ -- TSXV:UVN CALGARY, May 18 /CNW/ - Uravan
Minerals Inc (Uravan) concluded five major land acquisitions in the
Athabasca Basin in early 2011 [PR dated February 3(rd) and March
28(th), 2011]. These new properties, referred to as the Halliday
Lake, Poplar Point, Stewardson Lake, Thluicho Lake and Math Option,
plus the existing Outer Ring (OR) and Johannsen Lake (JL) projects,
are considered highly prospective and immediately accessible for
uranium exploration in this uranium endowed region [map link]. In
early June 2011 Uravan will be conducting a 5000 meter diamond
drill program on the OR project [PR dated May 9, 2011]. In
addition to this drill program, Uravan's technical group will
conduct multifaceted surface geochemical sampling programs on the
Halliday Lake, Stewardson Lake and Math projects, along with
additional sampling on the OR project to complement positive
geochemical results obtained in 2010. The sample media will
consist of C-horizon soils, vegetation (spruce and/or pine) and
tree-cores (spruce and/or pine). Depending on the project area,
sample spacing will vary from 250 meters to 500 meters on off-set
grids. These surface programs will result in the collection of
approximately 3300 samples from all media. The sampling and
analytical procedures for these surface programs will follow the
same protocols used for the OR and JL sampling programs completed
in 2010. All sample material collected (clay separates from the
C-horizons soils and vegetation samples) will be analysed using
multi-element ICP-MS for 52 elements plus all the REE and Pb
isotopes at Acme Labs in Vancouver. Sample preparation on the
tree-cores and separation of the clay fraction from the C-horizon
soils will be completed by the Queen's Facility for Isotope
Research(3) (QFIR) at Queen's University. QFIR will also
conduct further analytical work on tree-cores and clay separates by
a multi-element analysis for 52 elements plus all the REE and Pb
isotopes by High-Resolution ICP-MS. The analytical data resulting
from these geochemical surveys and the core from the OR drilling
program will be the focus of a new collaborative research study
between Uravan and QFIR, and the Natural Sciences and Engineering
Research Council of Canada (NSERC)( 2) [PR dated April 26, 2011].
The goals of this applied research study, titled 'Exploration
Geochemistry for Deep Uranium Deposits', are: (1) to apply
geochemical technologies recently developed by QFIR and Uravan from
a pilot study (the Cigar Lake Study)( 1) for remotely sensing
deeply-buried deposits on Uravan's Outer Ring (OR) and other
Athabasca Basin projects; and (2) to develop new geochemical
technologies using isotope compositions (such as Li, C, N, Pb and
U) for more reliable and definitive indicators of mineralization at
depth in these highly prospective but under-explored sandstone
basin areas. The objective of these surface geochemical surveys is
to identify the most probable location of unconformity-related
uranium deposits at depth. One of Uravan's key strategies is to
develop innovative exploration technologies that will vector
drilling to get to discovery quicker and more cost effectively in
under-explored areas. Mr. Larry Lahusen, CEO for Uravan believes,
"To find the next generation of uranium deposits we need to develop
an effective way to identify deeply-buried uranium mineralization
in under-explored terrain. To accomplish this, understanding the
process by which elements move from buried uranium mineralization
to near surface environments where they can be geochemically
measured is critical". Pending positive results from this summer's
surface sampling programs, anomalous geochemical targets from the
Math and Halliday projects will be drilled by late summer 2011.
(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. (3)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.
In particular, this news release contains forward-looking
statements pertaining, directly or indirectly, to the use of
proceeds of the Offering. Readers are cautioned that the
foregoing list of risk factors should not be construed as
exhaustive. These statements speak only as of the date of this
release or as of the date specified in the documents accompanying
this release, as the case may be. The Corporation undertakes no
obligation to publicly update or revise any forward-looking
statements except as expressly required by applicable securities
laws. Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the 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/May2011/18/c5763.html p
align="justify" 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./aa
href="http://www.uravanminerals.com"uravanminerals.com/a /p
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