CALGARY, Aug. 11 /CNW/ - Uravan Minerals Inc. ("Uravan") has acquired its second land position in the Athabasca Basin of Northern Saskatchewan. The Johannsen Lake property consists of four (4) mineral dispositions totalling approximately 18,000 hectares (44,477 acres) and is located along the Black Lake shear zone. The acquisition of the Johannsen property represents Uravan's continuing objective to obtain a major land position in this uranium endowed district. Uravan is aggressively pursuing the careful selection and acquisition of underexplored terrain in the Athabasca Basin believed to have a high potential for hosting unconformity-type uranium deposits using a holistic basin approach.
Commensurate with the staking of the Johannsen property, a multifaceted surface geochemical survey commenced. The sampling program is designed to evaluate the most probable location of buried uranium mineralization based on the identification of key multi-element signatures and isotope systems by analysing soils and vegetation collected on overlapping 500 meter off-set grids covering the property. Like the recently completed sampling program over the Outer Ring property, the Johannsen surface geochemical program will capitalize on the innovative techniques developed from a collaborative geochemical orientation study by QFIR (Queen's Facility for Isotope Research) and Uravan on the Cigar West uranium deposit (Cigar West Survey) (Press Release dated May 19, 2009).
The Cigar West Survey determined that the highest concentration of classic Athabasca unconformity-related uranium pathfinder elements and distinctive isotopes occur over the surface projection of the known high-grade Cigar West uranium deposit. This research has clearly identified distinctive elements and isotopic compositions that have been mobilized from that deposit to the surface media (plants and soils) through about 450 meters of sandstone. One of Uravan's key strategies in developing innovative geochemical techniques is to advance the detection of uranium mineralization at greater depths versus targeting blind geophysical conductors.
The analytical results from the Outer Ring geochemical program are scheduled to be completed by early September 2010. It is anticipated that additional sampling over specific areas of interest will be required to complete the evaluation. The compilation and interpretation of the geochemical database will be completed in late 2010. Conditional on positive results from the geochemical survey, a diamond drill program to test specific key surface anomalies suggestive of uranium mineralization at depth will commence in early 2011. A similar data evaluation schedule is anticipated for the Johannsen property which, if completed and conditional on positive results, will provide two properties in the Athabasca Basin for drilling in 2011.
The recent geochemical surveys conducted on the Outer Ring and Johannsen properties will be the focus of a new collaborative research study between QFIR and Uravan. This new research study will capitalize on the recently developed innovative geochemical protocols from the Cigar West Survey plus develop new protocols for more reliable and definitive indicators of uranium mineralization at greater depth to help identify undercover deposits in the Outer Ring and Johannsen Lake areas.
Additional land acquisitions by Uravan in the Athabasca Basin are anticipated in the near future.
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 research.
In addition to the QFIR research team, 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 R&D mineral exploration company
specializing in developing new uranium exploration technologies. Our
vision is to get to discovery faster and more cost effectively in under-
explored frontier areas. 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 management.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Uravan Minerals Inc.
For further information: For further information: please visit our website: www.uravanminerals.com