Project Overview
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.
Property Descriptions
Double S ZoneReconnaissance drilling outside of the known main zone at Double S in the 2008 winter program confirmed a number of new separate zones of mineralization, ranging from 1300 - 2900 meters NW of the main Double Zone. These new areas within the trend are known as the Middle Zone and TJ Zone.
Double S Geology Map (PDF, 174 kb)
Middle Zone
On the Middle Zone this year, 33 drill holes and 7,071.5 meters were drilled. Multiple mineralized zones were encountered in the summer drilling program, with up to 72.25 meters grading 0.012% U3O8 encountered in MZ-08-23, 70.3 meters grading 0.013% U3O8 encountered in MZ-08-31, and 60.8 meters of 0.013% U3O8 in MZ-08-27. Numerous discrete mineralized zones within each drill hole continue to be encountered in the Middle zone. Detailed surface mapping and diamond drilling was completed in this area to better define the nature and extent of mineralization.
Middle Zone Map (PDF, 268 kb)
TJ Zone
The TJ zone has had historic mapping and surface sampling completed on it, but no drilling was carried out on this zone prior to the 2008 program. The winter 2008 drilling was executed on widely spaced drill sites with a total of 6,791 meters of diamond drilling completed in 33 holes.
Multiple mineralized zones were encountered in the summer drilling program, with up to 23.8 meters grading 0.010% U3O8 encountered in TJ-08-09 and 16.5 meters of 0.012% U3O8 in TJ-08-12. Similar to the Middle zone, numerous discrete mineralized zones within each drill hole continue to occur at the TJ zone.
TJ Zone Map (PDF, 268 kb)
Turgeon Est
Pending
Lac Petit
1,226 meters of drilling in 6 holes was completed on the Lac Petit zone to follow up drill results from the winter 2007 program. The program was aimed at better defining the orientation and extent of mineralization in this area.
The company has now outlined a mineralized zone at Lac Petit over an area roughly 800 meters long by 200 meters wide. Mineralization remains open along strike and down dip, with the uranium mineralization hosted by a sequence of pegmatites and granites.
Johan Beetz
The Johan Beetz property is located five kilometers to the southeast of Double S. Several mineralized zones in the Johan Beetz area were encountered. Stacked zones were found at depths ranging from 7 meters to 200 meters depth. A total of 2000 meters was drilled in 10 holes. Further drilling will focus on following these mineralized zones up dip where they outcrop.
Grandroy
Pending
Grandroy Map (PDF, 91 kb)
Costebelle Claim Group
In November 2008, Uracan announced a number of new discoveries within the Costebelle Claim Group, with the new discoveries being located between 65 kilometres and 115 kilometres northeast of the Turgeon Lake property.Results include 57 meters containing 0.021% (0.42 lbs/ton) U3O8, 22 meters of 0.036% (0.72 lbs/ton) U3O8, 31 meters grading 0.026% (0.52 lbs/ton) U3O8, 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. Further work is being planned for summer 2009 to follow up these initial encouraging channel sample results.
Exploration & Development
2009 Drilling Program
Double-S Zone
- Defined by diamond drilling complete to September 2009; total 2009 drilling of 9000.4 meters including:
- Extension of drill hole SS-07-62 of 148.9 meters.
Nine diamond drill holes totalling 762 meters were completed to September 2009.
Turgeon Est Zone
Drill definition results pending.
Property Descriptions
Grandroy Zone
Grandroy is located in the northeast portion of the Turgeon Lake Intrusive complex, approximately 6 km northeast of the Double S zone. It has a similar lithology to Double S and is predominantly composed of granites and pegmatites interspersed with zones of metasediments and/or metagabbros and occasional pegmatite dykes. It is thought that the Grandroy area is near the margin of the Turgeon Lake Intrusive Complex and the surrounding Wakeham Group metasediments and metagabbros.
Initial drilling and trenching results indicate that the mineralization at Grandroy is hosted by flat lying to shallowly southwest dipping near surface pegmatite bodies. The true thickness of this mineralization is not known at this time but is thought to be similar to the thicknesses encountered in the drilling. The mineralized pegmatite bodies have been noted as hosting up to 5% disseminated Uraninite crystals by field personnel.
Two of the nine drill holes completed at Grandroy encountered significant uranium mineralization. Drill hole GR-09-07 intersected 0.213% (2,130 ppm or 4.26 lbs/t) U3O8 over a core length of 5.4 meters, starting at 5.8 meters down hole. GR-09-08 intersected 0.089% (886 ppm or 1.77 lbs/t) U3O8 over 10.5 meters starting from the bottom of the drill casing at 1.5 meters below surface, indicating that this drill hole likely collared in mineralization. Included within this 10.5 meter interval was a sub interval grading 0.195% (1,943.3 ppm or 3.9 lbs/t) U3O8 over a core length of 4.5 meters.
At Grandroy, drilling and channel sampling results to date have defined approximately 80 meters of strike length. Mineralization remains open along strike to the southwest and down dip from the area of current drilling and surface sampling.
Turgeon Est Zone
Property area description pending.
Technical Data
Overview
Elevated uranium levels appear in what is known as the Turgeon Lake Intrusive Complex. Within this complex, the Turgeon and WeeGee Claim Blocks host a significant number of uranium occurrences identified in the course of the first staking rush in the mid 1960s. Values are in the 0.01% to 0.025% U3O8 range, but can be locally higher. The mineralization tends to be lens-like, with the scale of these lenses ranges from a few meters to at least 1,000 meters long by 300 meters wide.
Regional geochemical surveys by the Quebec government in the 1980's and 1990's showed that the Turgeon Lake Intrusive Complex, unlike other intrusive bodies in the region is highly anomalous in uranium. Large fault systems cut the intrusive, but little attention was paid to these in previous exploration efforts, even though uranium mineralization is frequently associated with such features. Their presence suggests the possible existence of major plumbing systems operational during the mineralization phase.
Interpretive work on the Turgeon Lake Intrusive body has outlined at least 7 distinct phases of intrusions, which confirms the dynamic nature of the intrusive body and the potential for multiple phases of mineralization and remobilization and concentration of uranium within the intrusive complex.
The remaining claim groups forming the North Shore Property (Pontbriand, Highway and NE Costabelle Claim Groups) lie within this corridor, and cover the major anomalies over 125 kilometers long. Little historic work of any kind has been reported from these areas which exhibit uranium geochemical values similar or better than those seen in the Lac Turgeon intrusive itself.
Geology & Mineralization
Project Geology
- Located in the Grenville Province of the Canadian Shield
- Features complex irregular folded structures, numerous gneiss domes and basins and variable intrusive rocks
- Underlain by geological units potentially hosting significant uranium mineralization (including uranium veins and desseminations linked to pegmatites and granitic gnesisses)
- Meta-sedimentary rocks are mineralized in uranium and rare earth elements, and porphyritic granitoids are noted as carrying copper-gold and copper-molybdenum
- Geological evidence points to both the Rössing and Olympic Dam uranium models
2009 Drilling Update
Assay Summary
Drill Collar Tables
Technical Report (43-101)
Technical Report (NI-43-101) - June 2009
Technical Report (NI-43-101) - August 2008
Technical Report (NI-43-101) - May 2006