CALGARY, May 9 /CNW/ - Uravan Minerals Inc. (Uravan) has been granted
permission by the Saskatchewan Ministry of Environment (SEM) to conduct
a five (5) diamond drill-hole program on its Outer Ring (OR) project.
Final project mobilization and commencement of drilling operations is
scheduled for early June 2011; subsequent to winter break-up.
The OR property was acquired in December 2009 and is 100% owned by
Uravan. The project area is located in the Athabasca Basin along the
Cable Bay shear zone in the Pasfield Lake area.
Uravan completed a multifaceted surface geochemical program on the OR
property in July 2010. The geochemical data from the OR sampling
program capitalized on new geochemical technology developed from a
pilot study conducted on the Cigar West uranium deposit (Cigar West
Study) 1. The Cigar West Study was a collaborative applied research program
conducted by Uravan and QFIR (Queen's Facility for Isotope Research) in
2009 over a known high-grade uranium deposit in the Athabasca Basin.
The study was designed to develop new surface geochemical techniques
that can better identify bedrock sources of uranium mineralization at
depth. This research clearly identified distinctive elements and
isotopic compositions that have been mobilized from the deposit
(geosphere) to the surface media (plants and soils) from depths >450
Based on our knowledge gained from the Cigar Lake Study, encouraging
results have been obtained from the OR geochemical program that
revealed positive lead (Pb) isotope compositions and associated
anomalous pathfinder elements found in certain soil components,
vegetation and tree-core samples. These surface anomalies are trending
and coincide positively with regional geophysical survey data and other
interpreted structural features. Uravan's technical group have defined
specific surface geochemical targets that will be tested with five (5)
diamond drill-holes totalling approximately 5000 meters of drilling
beginning in June 2011.
The OR property is under-explored compared to the high-grade
unconformity-related uranium deposits currently being exploited within
the Eastern District of the Athabasca Basin. The drill program planned
will be the first significant exploration effort conducted in this more
basin-ward region and even more significant considering the drilling
planned will target surface geochemical anomalies versus blind
geophysical (EM) conductors.
Dr. Colin Dunn, P. Geo., technical advisor for Uravan, is the Qualified
Person for the purposes of NI 43-101 with respect to the technical
information in this press release.
For more information on the technical details of the Outer Ring project,
1The Cigar Lake deposit is on the Waterbury/Cigar uranium property; a
joint venture partnership between Cameco Corporation, AREVA, Idemitsu
Kosan Co. Ltd., and Tokyo Electric Power Co. [TEPCO]) located in the
Athabasca Basin, Saskatchewan. Uravan thanks both AREVA and Cameco for
their collaboration and gracious support for the Cigar West Study; and
the support provided by the Cigar Lake facility during our field
The Queen's Facility for Isotope Research (QFIR) at Queens's University,
Ontario is a state-of-the-art research facility, comprising a group of
highly experienced research geochemists. The QFIR lab contains some of
the most technologically advanced analytical equipment in Canada. Under
the direction of Dr. Kurt Kyser, the QFIR research team is working
collaboratively with Uravan's technical group to develop new
exploration technologies using applied research.
Dr. Colin Dunn, an independent specialist in biogeochemistry, is working
closely with Uravan's technical group and QFIR to advance the
interpretation of biogeochemical results. Dr. Kurt Kyser and Dr. Colin
Dunn are key technical advisors for Uravan.
Uravan is a Calgary Alberta based diversified mineral exploration
company that utilizes applied research to develop new innovative
exploration technologies to identify buried uranium, rare earth
elements (REE) and nickel-copper-platinum group element (Ni-Cu-PGE)
deposits in under-explored areas. Our exploration focus in uranium is
for potential high-grade unconformity-related uranium deposits in the
Athabasca and Thelon Basins in Canada and other basin environments
globally. Uravan is expanding its acquisition efforts toward REE geological
domains in North America and specific areas globally. The REE and
uranium mineralization occur in related geological environments thereby
complementing Uravan's uranium exploration efforts with a strategy to
add diversification to its portfolio. Further, Uravan is pursuing the
exploration of its advanced- stage Rottenstone Ni-Cu-PGE project
supported by the development of new drill targets defined by recent
geophysical re-interpretation. Uravan is a publicly listed company on
the TSX Venture Exchange under the trading symbol UVN. All of the
mineral properties Uravan owns are considered in the exploration stage
This press release may contain forward looking statements including
those describing Uravan's future plans and the expectations of
management that a stated result or condition will occur. Any statement
addressing future events or conditions necessarily involves inherent
risk and uncertainty. Actual results can differ materially from those
anticipated by management at the time of writing due to many factors,
the majority of which are beyond the control of Uravan and its
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.
SOURCE Uravan Minerals Inc.
For further information:
Larry Lahusen, CEO
Uravan Minerals Inc.