Your browser does not support script

Investors

News Releases


Winter 2011 Uracan Drilling Outlines Significant Uranium Mineralization on Costebelle Claims

Jun 23, 2011

Vancouver, Canada - Uracan Resources Ltd. ("Uracan" or the "Company") (TSXV: URC) is pleased to announce initial assay results from drilling completed during its winter 2011 drilling campaign. This drilling focused on two areas of the property: the Costebelle A4 and CC11 zones, part of the Company's 100% owned North Shore Project in Quebec.

Highlights include: 10.5 meters of 0.048% U3O8 (483 ppm or 0.96 lbs/t) and 43.5 meters of 0.019% U3O8 (193 ppm or 0.38 lbs/t) in CA4-11-42, 17.6 meters of 0.025% U3O8 (252 ppm or 0.5 lbs/t) in CA4-11-38, 15 meters of 0.034% U3O8 (337 ppm or 0.68 lbs/t) in CA4-11-46 and 12.5 meters of 0.032% U3O8 (322 ppm or 0.64 lbs/t) in CC11-11-05. The grades of uranium mineralization seen at the Costebelle A4 zone continue to show approximately twice the average grades seen at the Double S zone elsewhere on the North Shore Property.

The 18 hole, 3,156 meter drill program was designed to follow up exploration targets outlined during the 2010 drill programs at the A4 and CC11 zones.

The area with drill results received to date occurs along an approximately 600 meter length within an overall anomaly with a potential strike length of approximately 1,500 meters. This anomaly is defined by airborne and ground radiometrics, surface mapping and channel sampling along with previous drilling.

Mineralization is open along strike, with significant portions of the radiometric anomaly remaining to be tested by drilling. Mineralization has been extended to approximately 200 meters down dip from the surface outcrop mineralization and remains open in most areas of the A4 zone.

Uranium mineralization at the Costebelle A4 zone occurs as broad multiple stacked mineralized zones hosted by pegmatite dykes and sills with drilled thicknesses ranging up to 59.65 meters. The true thickness of these zones is unknown at this time but is thought to be similar to drilled thickness.

Due to a lack of experienced drilling personnel, the drilling contractor was unable to complete the winter drilling program as originally planned. Uracan is working with the drilling contractor to remediate this issue, and plans to continue drilling this summer on the various targets at the North Shore Property.

Costebelle A4 Drilling

A total of 2,576 meters in 14 diamond drill holes was completed during March and April 2011. Uracan's winter drilling objective was to further identify the extent of mineralization encountered in drill results and surface results outlined during both the 2010 drill programs.

Drilling continues to outline mineralization extending to depth with similar widths and grades as those seen in the previous drill program at the A4 zone. Additional drilling is planned this summer to follow up previous drill results.

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

 

Year Area Drill Hole From (m) To (m) Length
(m)
U3O8 % U3O8
ppm
2011 A4 CA4-11-35 27.0 31.5 4.5 0.019 194
2011 A4 CA4-11-35 82.1 84.5 2.4 0.039 387
2011 A4 CA4-11-37 58.5 72.6 14.1 0.019 189
2011 A4 CA4-11-37 154.5 165.4 10.9 0.026 264
2011 A4 CA4-11-38 105 122.6 17.6 0.025 252
2011 A4 CA4-11-40 97.5 115.1 17.6 0.020 198
2011 A4 CA4-11-42 55 98.5 43.5 0.019 193
2011 A4 CA4-11-42 128.5 148.1 19.6 0.022 223
2011 A4 CA4-11-42 155.15 165.65 10.5 0.048 483
2011 A4 CA4-11-45 6 31.3 25.3 0.018 182
2011 A4 CA4-11-45 93 117 24 0.021 208
2011 A4 CA4-11-45 133.5 138.3 4.8 0.044 443
2011 A4 CA4-11-46 37.5 52.5 15 0.034 337
2011 CC11 CC11-11-05 2 14.5 12.5 0.032 322
2011 CC11 CC11-11-07 153.5 160.4 6.9 0.013 126
  • Note: Drill hole CA4-11-34 was lost at 30 meters due to poor drilling conditions. CA4-11-35 was collared approximately 1 meter from CA4-11-34

Costebelle CC11 Drilling

A total of 580 meters in 4 diamond drill holes was completed during winter 2011 at the CC11 zone. Mapping, airborne and surface geophysical work outlined a potential 1,200 meter long pegmatite body. Mineralization at CC11 remains open along strike. Additional drilling is planned this summer to follow up 2010 and 2011 drill results.

A summary of drill results is compiled in the table below:

 

Year Area Drill Hole From (m) To (m) Length (m) U3O8 % U3O8
ppm
2011 CC11 CC11-11-05 2 14.5 12.5 0.032 322
2011 CC11 CC11-11-06 74.5 75.7 1.2 0.020 202
2011 CC11 CC11-11-07 153.5 160.4 6.9 0.013 126

A map showing the Costebelle A4 and CC11 drill hole locations as well as 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 20 samples sent to the laboratory. Due to a sampling error made in the field CA4-11-42 did not have standards or blanks inserted into the samples shipped. However field duplicates were done and the samples from this hole passed the laboratory's internal QA/QC program. The laboratory has an extensive in house QA/QC 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
1-877-508-U3O8 (8308)

Marc Simpson
Exploration Manager
604-682-5580
 


Show printable version of 'Winter 2011 Uracan Drilling Outlines Significant U...' in a New Window
Corporate Presentation
Fact Sheet
Financials
Subscribe for Updates