VANCOUVER, Sept. 29 /CNW/ - Uracan Resources Ltd. (the "Company") is pleased to report on assay results from the expanded GR-3 channel in the Grandroy (GR) zone at its 100% owned North Shore Project in Quebec. These assay results confirm the increased size of the mineralized section within the historic trenching observed at Grandroy, approximately 6 km northeast of the Double S zone.
As previously reported on August 26th, 2009, initial channel results in the GR-3 channel were 0.192% (3.84 lbs/ton) U3O8 over 4 meters. By extending the overall channel length the extent of mineralization in the trench was increased to 20 meters grading 0.174% (3.48 lbs/ton) U3O8. True width of the zone is unknown, however mapping in the field indicates the trench was dug oblique to the zone and the true width of sampled area is believed to be less than seen in the trenches. Historic trenching and recent drilling cover an area of 180 by 100 meters. The zone appears to be open to the southwest.
Results from the follow up drill program at Grandroy and Turgeon Est are still pending and will be released once they have been received.
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 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.
Investors are invited to visit the Uracan Resources IR Hub at http://agoracom.com/ir/UracanResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to URC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
Neither 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 information relating to the future performance of the Company. Forward-looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
SOURCE Uracan Resources Ltd.
For further information: For further information: 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