CALGARY, June 9, 2011 /CNW/ - Uravan Minerals Inc. (Uravan) has
commenced diamond drilling operations on its Outer Ring (OR) project in
the Pasfield Lake area of the Athabasca Basin. Drill hole OR11-001 is
the first of a five (5) diamond drill-hole program totalling
approximately 5000 meters of drilling [view map]. Drill depths to unconformity are estimated to be 850 meters.
Completion of the drill program is estimated to be in early August
The OR drill program is targeting selected surface geochemical
signatures identified by Uravan's technical group and collaborative
research partners2 arising from a multifaceted surface sampling program completed over the
property in 2010. This surface geochemical program capitalized on new
innovative geochemical technologies developed from a pilot study
conducted on the Cigar West uranium deposit (Cigar West Study) 1. By using these exploration techniques, verified from the Cigar West
Study, positive isotopic compositions and associated anomalous
pathfinder elements were identified in certain soil components,
vegetation and tree-core samples over the project area. These surface
anomalies correlate positively with regional geophysical survey trends
and other interpreted structural features, and potentially represent
signatures of mobile elements derived directly from bedrock sources of
unconformity-related uranium mineralization.
The Athabasca Basin is the most significant uranium district in Canada,
representing 28% of the world's primary uranium production. The
interior of the Athabasca Basin, which includes the OR property, is
under-explored relative to the high-grade unconformity-related uranium
deposits currently being exploited near the eastern margin of the
basin. The OR drill program will be the first significant exploration
effort conducted in this more basin-ward region and even more
significant considering the drilling is targeting surface geochemical
anomalies versus conventional blind geophysical (EM) conductors.
Mr. Larry Lahusen, CEO of Uravan believes, "The positioning of
exploration drill-holes over surface geochemical signatures to test
potential bedrock source of unconformity-related uranium mineralization
is unique and could be an exploration 'game changer' with respect to
how future uranium exploration is carried out in the Athabasca Basin".
The OR drill program will be managed and directed by Uravan's technical
group. Drilling operations are being performed by Bryson Drilling Ltd.
from Archerwill, Saskatchewan. All whole-rock analytical work on core
samples collected will be by multi-element ICP-MS for 52 elements plus
all the REE and Pb isotopes at Acme Labs in Vancouver. The Queen's
Facility for Isotope Research2 (QFIR) will conduct further analytical techniques on core samples to
determine the concentration of certain isotopic compositions using
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.
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
operations. 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 meters.
2The 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.
2Dr. 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.