The 100% owned North Shore project has a provincial highway and power lines running through it, and several areas of the project have tidewater access to the St. Lawrence Seaway in eastern Quebec, Canada. The Havre St. Pierre deepwater port is located 60km west of the Project.Uracan completed extensive drill programs on the North Shore Project between 2007 and 2011 focused on the Turgeon A claim group and the Costebelle C claim group.
Winter 2010 drilling highlights on the A4-1 zone on the Costebelle C claim group include: 25.95 metres of 480 ppm, 33.9 metres of 230 ppm, 41 metres of 197 ppm, and 15.85 metres of 331 ppm U3O8 over a strike length of 500 metres. Drill Highlights from 2011 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 Province of Quebec is currently evaluating regulations regarding uranium exploration and mining in the province; it is uncertain at this time what final policies will be enacted. Uracan has put the North Shore Project on standby until such time as the updated policies and regulations are put in place.
The Company is targeting near surface, bulk tonnage uranium deposits on the North Shore Project. Numerous historical uranium rushes occurred at the North Shore property in the 1960s and 1970s, and several companies drilled a total of more than 100 holes on the project. Management believes the abundant uranium showings on the project give it potential to host a Rössing-style deposit (300 million tonnes grading 0.025% U3O8). Rössing is one of the largest open pit uranium mines in the world operated by Rio Tinto. The deposit is the world's fifth largest producer of uranium and accounts for 7.7% of the current total world uranium production.