UVN Uravan Minerals Inc

CALGARY, Aug. 4, 2011 /CNW/ -- (TSXV: UVN) CALGARY, Aug. 4, 2011 /CNW/ - Uravan Minerals Inc (Uravan) recently completed multifaceted surface geochemical sampling programs on the Halliday Lake, Math, OR Extension, and Stewardson Lake properties in the Athabasca Basin(1), Northern Saskatchewan [map link]. The sampling programs were conducted by Uravan's technical group, commencing on June 6(th) and completed July 27(th).  The sample media collected are B- and C-horizon soils, vegetation (from spruce and/or pine) and tree-cores (from spruce and/or pine). Depending on the size of the project area, samples from all media were collected from 250 meter to 500 meter spacing on off-set grids. The surface sampling programs resulted in the collection of a total of 3305 samples from all media over approximately 40,140 hectares. 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 discovery quicker and more cost effectively in under-explored areas. 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. The sample preparation and analytical procedures for these surface programs will follow the same protocols used for the Outer Ring (OR) and Johannsen Lake (JL) sampling programs completed in 2010, as previously developed from the Cigar Lake Study(2). All sample material collected (clay separates from the B-and 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 B-and C-horizon soils will be completed by the Queen's Facility for Isotope Research(4) (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 will be the focus of a collaborative research study between Uravan and QFIR, and the Natural Sciences and Engineering Research Council of Canada (NSERC)( 3) [Press Release Link]. Depending on the timing for the completion of the data analysis of the surface geochemical programs described above, a diamond drill program is anticipated for the Halliday Lake or Math projects [map link] prior to freeze up in early October 2011. The Halliday Lake property is located approximately 18 kilometers northwest of the McArthur River uranium deposit in the eastern Athabasca Basin.  The Halliday property is owned 100% by Uravan and was acquired from Cameco Corporation (Cameco) in December 2010 as part of a larger property exchange agreement [Press Release Link].  The Math property adjoins the Outer Ring (OR) property on the north and was acquired from ESO Uranium Corporation (ESO) in January 2011 [Press Release Link]. Exploration work previously conducted on the Halliday project by Cameco consists of six (6) widely-spaced diamond drill holes amounting to 5167 meters drilled with drill depths averaging 850 meters. This reconnaissance drilling targeted three coincident EM geophysical conductors within an east-west oriented magnetic low. Based on drill core interpretation, the conductive zones coincide with an east-west trending graphite structural zone.  Drill core analysis identified high boron concentrations within basement samples, strong illite clay alteration in the sandstone and anomalous uranium mineralization occurring at the unconformity, which assayed 800 ppm to 0.12% U(3)O(8) over narrow intervals (1.0 meter). Recent exploration work on the Math property consisted of three (3) airborne geophysical surveys (MEGATEM, radiometric + Magnetics and ZTEM + Magnetics) completed in 2006, 2007 and 2009 respectively.  The geophysical data and interpretive work from these geophysical surveys correlate and consistently display a strong NE trending conductor (the "Pasfield Conductor") that coincides with a linear low magnetic susceptibility corridor that transects the Math property. The Pasfield Conductor and coincident magnetic low form a linear corridor that extends to the SW onto the Outer Ring project. The NE-SW trending Pasfield Conductor was interpreted by Geotech Limited (through inversion of the geophysical data) as a single NW dipping conductor (probably graphite) at the unconformity, estimated to be at a depth of approximately 350 meters. The Pasfield Conductor shows increasing conductive response with depth suggesting alteration of the conductor at or near the unconformity. The geophysical data also point to a related conductive zone above the unconformity interpreted to represent a clay alteration zone in the Athabasca sandstone. A potential thick basement graphitic conductor, hosted in metapellitic basement metasediments, within a coincident low magnetic susceptibility corridor, associated with a possible clay alteration halo above the unconformity are key requirements for potential unconformity-related uranium mineralization. Data analysis and interpretation of the recently completed surface geochemical sampling programs on the Halliday and Math projects will be used in conjunction with the existing geophysical databases to help vector new drill targets on the properties. Although the existence of robust EM conductors is an important condition for targeting potential unconformity-related uranium mineralization the challenge for most uranium explorers is which (?) conductors have potential and where (?) on the surface trace of the conductor should drill-holes be positioned. Uravan believes, based on the Cigar Lake Study(2), the positioning of exploration drill-holes over surface geochemical anomalies to test potential bedrock source of unconformity-related uranium mineralization is unique and will provide a valuable vectoring component, in concurrence with the existing prominent EM conductors, as a better means of testing potential 'mineralized' targets versus drilling 'barren' conductors. It is anticipated a 2500 meter diamond drill program will commence on either the Halliday or Math projects sometime in early October 2011, prior to winter freeze up. In anticipation of the completion of additional data analysis, Uravan expects to announce further results on the OR diamond drill program [Press Release Link] in the coming week. 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 Athabasca Basin is an ancient (Paleoproterozoic) sandstone basin located in northern Saskatchewan, Canada. The Athabasca Basin hosts high-grade unconformity-type uranium deposits that account for about 28 percent of the world's primary uranium production. These unconformity-type uranium deposits occur in sandstones at the basement-sandstone unconformity contact (sandstone-hosted mineralization) and within the underlying structurally disrupted crystalline basement (basement-hosted mineralization). The ore grades are high, typically grading 5% to 20% U(3)0(8). (2)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. 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. (3) 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. 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. (4)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/August2011/04/c9412.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

Copyright