Uracan launches summer drilling program and extensive field work on North Shore properties
Uracan Resources Ltd., a publicly-listed uranium exploration company, exploring for shallow, bulk tonnage style of uranium mineralization in Canada announce that further to its news release dated June 4, 2009, a multi-phased exploration program has begun at its 100% owned North Shore property in Quebec, Canada.
A 4000 meter drill program will further test the mineralization around the known Double S resource in the Turgeon Lake Intrusive Complex (TLIC). The spring 2009 program focused on the area directly west of the discovery hole in the Double S zone. The new multi-hole program will focus on the southeastern area of the zone.
The combined NI 43-101 compliant inferred resource at the Double S, Middle and TJ zones totals 154.9 million tonnes with an average grade of 0.012% U3O8. This combined resource contains approximately 18.48 million kilograms (40.73 million lbs.) of uranium using a 0.009% cut-off.
At Costebelle, the work consists of trenching, channel sampling, mapping and prospecting in previously unexplored areas of the claim group and around existing discoveries.
A limited work program in 2008 outlined at least 5 new discoveries. The 2009 summer work will last a full three months, with follow up drilling planned in areas showing significant uranium mineralization.
The Costebelle claims lie from 65 – 120 km east of the Turgeon Lake Intrusive Complex (TLIC) that hosts Uracan’s 43-101 compliant inferred resources. Mineralization at Costebelle appears to be hosted by mineralized pegmatite and granite bodies. The scale of the intrusive bodies at Costebelle is similar to that seen at the TLIC.
Highlights of the 2008 program include channel samples of 57 meters of 0.02% U(3)O8, 19 meters of 0.019% U(3)O8 and 8 meters of 0.033% U(3)O8.
