News Releases
| January 13, 2009 Uracan Discovers Third Uranium Target In Quebec | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Costebelle Continues to Show Wide Intervals of Higher Grade Uranium at Surface HIGHLIGHTS:
The new discoveries are 115 kilometres northeast of the Company's Double S NI 43-101 inferred resource of 74.2 million tonnes at an average grade of 0.012% U3O8 containing 19.96 million pounds of uranium, and 55 kilometers east of the recently announced (November 28, 2008) mineralization on the Costabelle claim group. Results include 8 meters grading 0.033% (0.66 lbs/ton) U3O8 and 10 meters of 0.019% (0.38 lbs/ton) U3O8 in saw channel samples. In addition several 2 meter channels with up to 0.181% (3.62 lbs/ton) U3O8 were also encountered. The mineralized zones at Costebelle are open in all directions as channel sampling was limited to areas of outcrop exposure, with overburden cover overlaying large areas of the targeted airborne anomalies. Strike lengths range from tens of meters to over 100 meters of exposure. The area of the Costebelle claim group has not seen any historic exploration activity, and represents a new area for uranium exploration in Quebec. In addition, the A4-4 channel announced in the November 28 2008 news release has been extended from the previously announced 31 meters of 0.026% (0.52 lbs/ton) U3O8 to a total of 57 meters containing 0.021% (0.42 lbs/ton) U3O8. This significant expansion of the width of the mineralization in this area confirms it has very good potential to host near surface bulk tonnage uranium mineralization. All results from the summer 2008 exploration program on the Costebelle claims have now been received. Planning for a summer 2009 follow up program of mapping and sampling is now underway. Selected channel sample mineralized intervals are outlined in the table below:
*Note: partial results from this saw channel previously released in the November 28 2008 News Release Sampling Methodology Samples were collected using rock saws to cut channel samples across areas of interest marked by geological personnel. Sample intervals were generally 1 meter lengths. All sample locations were located in the field with hand held GPS units. The samples were shipped by company personnel in sealed containers to ALS Chemex Laboratories of Val D'Or, Quebec for analysis using standard analytical techniques for the samples. ALS Chemex is the laboratory facility used for all assays from the North Shore Property program. Uracan Resources Ltd. is a publicly-listed uranium exploration company, exploring for shallow, bulk tonnage style of 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 Chief Executive Officer 604-682-5580 Marc Simpson Exploration Manager 604-682-5580 Keith Schaefer Vanguard Shareholder Solutions 604-608-0824 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking statements relating to the future performance of Uracan Resources Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
