CALGARY, Feb. 14 /CNW/ - Uravan Minerals Inc. ("Uravan") recently began
mobilizing camp, fuel and equipment to its Outer Ring project in the
Athabasca Basin, Northern Saskatchewan. Mobilization is being expedited
during winter (freeze-up) conditions in preparation for an early June
2011 diamond drill program. Based on encouraging results obtained from
the Outer Ring surface geochemical program completed in 2010, five (5)
diamond drill-holes are planned to test a number of significant
The Outer Ring property is owned 100% by Uravan and located in the
Athabasca Basin along the Cable Bay shear zone in the Pasfield Lake
area. The Outer Ring property was acquired by Uravan in December 2009.
A surface geochemical program was completed in July 2010. The
geochemical data analysis and interpretation was concluded in December
The geochemical data from the Outer Ring sampling program capitalized on
new 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 to the
surface media from depths >450 meters.
Based on our knowledge gained from the Cigar Lake Study, encouraging
results have been obtained from the Outer Ring geochemical program that
revealed positive lead (Pb) isotope compositions and associated
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
geochemical targets that will be tested with five (5) diamond
drill-holes totalling approximately 5000 meters of drilling.
The Outer Ring project area is highly prospective geologically, albeit
untested and under-explored compared to the known high-grade
unconformity-related uranium deposits within the Eastern District of
the Athabasca Basin. The drill program planned at Outer Ring will be
the first significant exploration effort in this more basin-ward region
and even more significant considering the drilling planned will target
surface geochemical anomalies versus blind EM conductors.
Mr. Larry Lahusen, CEO of Uravan, "believes the positioning of
exploration drill-holes over surface geochemical signatures to target
potential bedrock source of uranium mineralization is unique and could
be an exploration 'game changer' with respect to how uranium
exploration is carried out in the Athabasca Basin".
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 Queen'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
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 uranium exploration company that
engages in applied research to develop new innovative technologies to
identify buried uranium deposits in under-explored areas. Our vision is
to get to discovery faster and more cost effectively in under-explored
frontier regions. Uravan is pursuing exploration for potential
high-grade unconformity-related uranium deposits in the Athabasca and
Thelon Basins in Canada and other basin environments globally. 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 of development.
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.