Trading Symbol: TSX-V: URC
VANCOUVER, June 18 /CNW/ - Uracan Resources Ltd. (the "Company") is
pleased to announce that further to its news release dated June 4, 2009, a
multi-phased exploration program has begun at its 100% owned North Shore
property in Quebec, Canada.
A 4000 meter drill program will further test the mineralization around
the known Double S resource in the Turgeon Lake Intrusive Complex (TLIC). The
spring 2009 program focused on the area directly west of the discovery hole in
the Double S zone. The new multi-hole program will focus on the southeastern
area of the zone.
The combined NI 43-101 compliant inferred resource at the Double S,
Middle and TJ zones totals 154.9 million tonnes with an average grade of
0.012% U3O8. This combined resource contains approximately 18.48 million
kilograms (40.73 million lbs.) of uranium using a 0.009% cut-off.
At Costebelle, the work consists of trenching, channel sampling, mapping
and prospecting in previously unexplored areas of the claim group and around
A limited work program in 2008 outlined at least 5 new discoveries. The
2009 summer work will last a full three months, with follow up drilling
planned in areas showing significant uranium mineralization.
The Costebelle claims lie from 65 - 120 km east of the Turgeon Lake
Intrusive Complex (TLIC) that hosts Uracan's 43-101 compliant inferred
resources. Mineralization at Costebelle appears to be hosted by mineralized
pegmatite and granite bodies. The scale of the intrusive bodies at Costebelle
is similar to that seen at the TLIC.
Highlights of the 2008 program include channel samples of 57 meters of
0.02% U(3)O8, 19 meters of 0.019% U(3)O8 and 8 meters of 0.033% U(3)O8.
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 proven team of 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.
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. 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 & 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