URAVAN COMMENCES DRILLING AT OUTER RING
June 09 2011 - 2:46PM
PR Newswire (Canada)
CALGARY, June 9, 2011 /CNW/ -- TSVX: UVN CALGARY, June 9, 2011
/CNW/ - Uravan Minerals Inc. (Uravan) has commenced diamond
drilling operations on its Outer Ring (OR) project in the Pasfield
Lake area of the Athabasca Basin. Drill hole OR11-001 is the
first of a five (5) diamond drill-hole program totalling
approximately 5000 meters of drilling [view map]. Drill depths to
unconformity are estimated to be 850 meters. Completion of the
drill program is estimated to be in early August 2011. The OR drill
program is targeting selected surface geochemical signatures
identified by Uravan's technical group and collaborative research
partners(2) arising from a multifaceted surface sampling program
completed over the property in 2010. This surface geochemical
program capitalized on new innovative geochemical technologies
developed from a pilot study conducted on the Cigar West uranium
deposit (Cigar West Study)( 1). By using these exploration
techniques, verified from the Cigar West Study, positive isotopic
compositions and associated anomalous pathfinder elements were
identified in certain soil components, vegetation and tree-core
samples over the project area. These surface anomalies
correlate positively with regional geophysical survey trends and
other interpreted structural features, and potentially represent
signatures of mobile elements derived directly from bedrock sources
of unconformity-related uranium mineralization. The Athabasca Basin
is the most significant uranium district in Canada, representing
28% of the world's primary uranium production. The interior of the
Athabasca Basin, which includes the OR property, is under-explored
relative to the high-grade unconformity-related uranium deposits
currently being exploited near the eastern margin of the basin. The
OR drill program will be the first significant exploration effort
conducted in this more basin-ward region and even more significant
considering the drilling is targeting surface geochemical anomalies
versus conventional blind geophysical (EM) conductors. Mr. Larry
Lahusen, CEO of Uravan believes, "The positioning of exploration
drill-holes over surface geochemical signatures to test potential
bedrock source of unconformity-related uranium mineralization is
unique and could be an exploration 'game changer' with respect to
how future uranium exploration is carried out in the Athabasca
Basin". The OR drill program will be managed and directed by
Uravan's technical group. Drilling operations are being performed
by Bryson Drilling Ltd. from Archerwill, Saskatchewan. All
whole-rock analytical work on core samples collected will be by
multi-element ICP-MS for 52 elements plus all the REE and Pb
isotopes at Acme Labs in Vancouver. The Queen's Facility for
Isotope Research(2) (QFIR) will conduct further analytical
techniques on core samples to determine the concentration of
certain isotopic compositions using High-Resolution ICP-MS. 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. (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 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. (2)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. (2)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/June2011/09/c4534.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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