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Uracan Continues To Discover New Uranium Mineralization On Costebelle Claims

Jun 08, 2010

Vancouver, Canada -- Uracan Resources Ltd. (the "Company") is pleased to report on assay results from the remaining drill holes completed during its 2010 winter drilling campaign on the Costebelle A4 zone, part of the Company's 100% owned North Shore Project in Quebec.

 

The twenty hole, 3,023 meter winter drill program, was designed to follow up surface exploration targets outlined during 2008 and 2009 surface sampling and mapping programs.  Highlights include 8.4 meters of 0.046% (0.92 lbs/t) in CA4-10-2, 13.55 meters of 0.038% U3O8 (0.76 lbs/t) U3O8 in CA4-10-15, and 4 meters of 0.062% U3O8 (1.24 lbs/t) and 3.8 meters of 0.055% U3O8 (1.1 lbs/t) in CA4-10-17. The grades of uranium mineralization seen at Costebelle A4 to date are approximately twice the grades seen at the Double S zone elsewhere on the North Shore property. 

 

Drilling to date has confirmed that uranium mineralization at the Costebelle A4 Zone continues down dip from the surface channel samples.  The area with drill results received to date occurs along an approximately 500 meter length within an overall potential strike length of approximately 1,500 meters, as defined by airborne radiometrics, surface mapping and channel sampling.   Mineralization is open along strike and to depth starting from surface throughout this area.

 

Uranium mineralization at the Costebelle A4 zone occurs as broad multiple stacked mineralized zones hosted by pegmatite dykes and sills with drilled thicknesses ranging from 0.5 meters up to 41 meters.  The true thickness of these zones is unknown at this time but is thought to be similar to drilled thickness.  Uranium occurs both as disseminated mineralization throughout the pegmatites as well as higher grade secondary enriched zones occurring along fracture planes.

 

Costebelle A4 Drilling

 

A total of 3,023 meters in 20 diamond drill holes was completed during March and April of 2010. Uracan's winter drilling objective was to determine the extent of significant surface occurrences of uranium mineralization outlined during 2008 and 2009 at the Costebelle A4 zone.  Numerous other potentially significant mineralized zones in the Costebelle claim group remain to be drill tested.

 

A summary of selected mineralized zones from the returned assays is included below:

 

Area

Drill Hole

From (m)

To (m)

Length (m)

U3O8 %

U3O8 ppm

A4

CA4-10-2

40.1

48.5

8.4

0.046

462.3

A4

CA4-10-6

3.2

22

18.8

0.016

158.1

A4

CA4-10-14

4.5

39

34.5

0.015

151.1

A4

CA4-10-14

110.6

112.5

1.9

0.114

1140.9

A4

CA4-10-15

68.65

82.2

13.55

0.038

379.8

A4

CA4-10-16

57.6

63.5

5.9

0.025

252.0

A4

CA4-10-16

110.5

133.5

23

0.015

149.2

A4

CA4-10-17

3

36.2

33.2

0.015

152.3

A4

CA4-10-17

47.25

59.15

11.9

0.015

152.7

A4

CA4-10-17

65.4

70.45

5.05

0.027

268.0

A4

CA4-10-17

97

101

4

0.062

618.4

A4

CA4-10-17

145.75

149.55

3.8

0.055

547.8

A4

CA4-10-18

144

145.5

1.5

0.032

320.7

A4

CA4-10-19

141

142.2

1.2

0.067

672.0

 

 

A map showing the Costebelle A4 drill hole locations can be found at http://www.uracan.ca/i/photos/A4Geology.pdf.  Drill hole coordinates and a complete listing of assay results will be posted on Uracan's updated website: www.uracan.ca.

 

QA/QC

 

Samples were shipped by company personnel in sealed containers to ALS Chemex Laboratories of Val D'Or, Quebec for analysis.  Chemex is the laboratory facility used for all assays from the North Shore Property program.  Samples are weighed and catalogued before sample preparation.  The samples are crushed to 70% less than 2mm, split and then pulverized to 85% of the sample being less than 75 Ám.  All samples are assayed using ICP-MS with analysis completed for 47 elements. 

 

A QA/QC program was implemented as part of the sampling procedure for the drill program.  Field duplicates, field blanks and certified standards were inserted into the sample stream with at least one blank, one duplicate and one standard inserted per group of 40 samples sent to the laboratory.  The laboratory also has an extensive in house QAQC system as part of their quality control system.   

 

About Quebec, Canada

 

Quebec has been voted as the Top Mining Jurisdiction In the World since 2007 by the Fraser Institute Mining Survey and has been in the top 10 since 2001: www.fraserinstitute.org .

 

Uracan Resources Ltd. is a publicly-listed uranium exploration company, exploring for shallow, bulk tonnage style uranium mineralization in Canada.  Uracan is led by a team of proven exploration and mine entrepreneurs and mine-builders.  The information in this news release has been prepared and reviewed by Marc Simpson, P. Geo., the Company's Qualified Person under National Instrument 43-101 standards. 

 

For further information please contact:

 

Gregg J. Sedun           

Chairman & CEO

604-682-5580

 

David Fry                    

Corporate Development

778-330-2759

       

Keith Schaefer     

Vanguard Shareholder Solutions                         

604-608-0824

 

Marc Simpson             

Exploration Manager                           

604-682-5580


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