Quebec
Introduction
Uracan Resources has outlined three NI 43-101 compliant inferred resources (Double S, Middle Zone and TJ Zone) of 44 million pounds U3O8, averaging 0.012% U3O8, based on a cut off of 0.009% U3O8 at its 100%-owned uranium project on the North Shore of the St. Lawrence Seaway in eastern Quebec, Canada. The project has a provincial highway and power lines going through it, and several areas of the project have tidewater access.
The Company is targeting near surface, bulk tonnage uranium deposits that could be mined with open pit economics. 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 low grade 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.
Uracan Resources has outlined three NI 43-101 compliant inferred resources (Double S, Middle Zone and TJ Zone) of 44 million pounds U3O8, averaging 0.012% U3O8, based on a cut off of 0.009% U3O8 at its 100%-owned uranium project on the North Shore of the St. Lawrence Seaway in eastern Quebec, Canada. The project has a provincial highway and power lines going through it, and several areas of the project have tidewater access.
The Company is targeting near surface, bulk tonnage uranium deposits that could be mined with open pit economics. 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 low grade 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.
