TSX-V Symbol: URC
VANCOUVER, Jan. 22 /CNW/ - Uracan Resources Ltd. (the "Company") is
pleased to announce that it has received initial trenching results from the
summer 2007 work program at its 100% owned Pipewrench Lake Property in
This exploration program consisted of surface mapping, trenching and
sampling on several historic showings throughout the property. The work was
designed to determine the validity of limited historic information available,
as well as outline targets for follow up with diamond drilling. The program
was successful in delineating significant mineralization on the property which
will be followed up with diamond drilling in early 2008.
Among these historic showings is the Pipewrench North showing, which
hosts several significant trenched intervals including 4.8 meters of 0.056%
U3O8 (15.7 feet of 1.1 lbs U3O8) and 1.9 meters of 0.122% U3O8 (6.2 feet of
2.44 lbs U3O8). A complete listing of trench results will be posted on
Uracan's website shortly; www.uracan.ca.
Limited historic drilling was carried out on the Pipewrench North showing
in the late 1960's. This drilling encountered uranium mineralization with
widths and grades of up to 7.52 meters of 0.077% U3O8 (24.7 feet of 1.7 lbs
U3O8) with multiple uranium bearing zones being noted in the same drill hole.
Many of these mineralized intervals do not appear to outcrop at surface but
are under overburden cover at surface. Hand trenching during 2007 was unable
to reach bedrock in several instances due to the two to three meter thickness
Uranium bearing pegmatite and pelitic gneiss are the main host of
mineralization at Pipewrench North. Please refer to the Uracan Resources Ltd
website for a map outlining the areas of interest on the Pipewrench Lake
The trenching at Pipewrench North extended over an area of exposure
approximately 50 meters in length by three to five meters in width, with the
mineralization being open along strike in both directions extending under
overburden to the northeast and under the shallow lake to the southwest.
However geological mapping indicates that the structure hosting the
mineralized outcrops extends to the northeast within a northeast trending
topographic low over a strike length of at least 500 meters.
The Pipewrench West area is also host to potentially significant
mineralization. Uranium mineralization ranging up to 2 meters of 0.026% U3O8
(6.6 feet of 0.51 lbs U3O8) was encountered in trenching at this showing.
Mineralization is also thought to be wider than noted in trenching as
mineralization extends under overburden cover. Mineralization is hosted by
mineralized pegmatite and pelitic gneiss. This mineralization may be part of
the same mineralized zone encountered in Pipewrench North, 1.5 kilometers to
the north of Pipewrench West.
The Pipewrench Lake Property is located within the Wollaston Domain of
the Canadian Shield. The Wollaston Domain forms the basement rocks of the
majority of the uranium deposits in the Athabasca Basin, and is highly
prospective for near surface uranium mineralization in areas outside the
Sample results from the Narrows Lake and Portage areas of the property
are still pending from the laboratory, and will be released when received.
Samples were shipped in sealed containers to SRC Geoanalytical Laboratories of
Saskatoon Saskatchewan for analysis. SRC Geoanalytical Laboratories is the
laboratory facility used for all assays from the Pipewrench Lake Property
Uracan Resources Ltd. is a publicly-listed uranium exploration company,
exploring for shallow, bulk tonnage style of 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The foregoing
information may contain forward-looking statements relating to the future
performance of Uracan Resources Ltd. Forward-looking statements, specifically
those concerning future performance, are subject to certain risks and
uncertainties, and actual results may differ materially. These risks and
uncertainties are detailed from time to time in the Company's filings with the
appropriate securities commissions.
For further information:
For further information: Gregg J. Sedun, President and CEO, OR Marc
Simpson, Exploration Manager, (604) 682-5580; Keith Schaefer, Vanguard
Shareholder Solutions Inc., (604) 608-0824, www.vanguardsolutions.ca