News Releases
| August 26, 2009 Uracan Discovers Higher Grade Uranium Mineralization At Grandroy And Turgeon Zones At Its 100% Owned North Shore Property In Quebec | |
HIGHLIGHTS:
As part of the 2009 geological mapping program, grab and channel samples were collected in historic trenches over the Grandroy and Turgeon Est areas. These zones are approximately 7 kilometres North of the Double S zone. At Grandroy, these samples returned up to 4 meters of 0.192% (3.84 lbs/ton) U3O8 in channel sampling. Additional channel samples are underway in this area to further define the extent of mineralization in the historic trenches that are over 140 metres in strike length. The extent of mineralization in the Grandroy area is unknown due to limited outcrop exposure in the area; however airborne radiometrics indicate a potential strike length of over one kilometre. As well, significant Uraninite and secondary uranium minerals have been identified in surface exposures at the Grandroy zone. At Turgeon Est sampling encountered up to 0.685% (13.7 lbs/ton) U3O8 and 0.303% (6.06 lbs/ton) U3O8 in grab samples at Turgeon Est, along with 0.077% (1.54 lbs/ton) U3O8 across 1 meter in channel sampling. The extent of mineralization in the Turgeon Est area is unknown due to limited outcrop exposure in the area. Assessment work records for these historical locations previously reported equivalent uranium grades based on scintillometer readings of up to 48 meters grading 0.217% (4.34 lbs/ton) U3O8. Uracan's results in this news release are from chemical assay data received from the same laboratory that processes Uracan's diamond drill core. Diamond Drilling Program An initial 1,000 meter helicopter supported diamond drilling program, focussed on the Grandroy and Turgeon Est Zones, will commence shortly. This program is designed to identify the width, strike and uranium grades at the Grandroy and Turgeon Est Zones. Sampling Methodology Channel samples were collected across areas of interest marked by geological personnel using rock saws to cut channels in the bedrock. Channel sample intervals were generally 1 meter lengths while grab samples were also collected at specific locations by geological field personnel. All sample locations were marked 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 Chairman & CEO 604-682-5580 David Fry Corporate Development 778-330-2759 Keith Schaefer Vanguard Shareholder Solutions 604-608-0824 Marc Simpson Exploration Manager 604-682-5580 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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. | |
