Trading Symbol WCU.V
Frankfurt Symbol IAR
VANCOUVER, Sept. 13 /CNW/ - Mr. Chris England, President of WestCan
Uranium Corp., ("WestCan") is pleased to announce that the Company has
received final documentation and reports on an audio-frequency
magneto-telluric (AMT) survey of the Cree West property in the Athabasca basin
of Saskatchewan. Discrete basement conductors were located on both blocks of
the 12,860 hectare property.
The southwest group (2 claims, 6897 hectares) contains a conductor that
runs the whole length of the property in a northeast-southwest direction. The
northeastern half of this feature is more strongly conductive and it contains
a short "hot spot" on one survey line.
The northeastern claim group (2 claims, 5963 hectares) shows a weak
conductor along the northwestern property boundary, and a stronger, more
northerly trending conductor in the southwest part of the survey area.
Dr. Colin Bowdidge, who reviewed this data, stated: "This oblique
conductor may reflect a cross-structure of the type that is often associated
with unconformity-type uranium mineralization in the Athabasca basin. These
basement conductors are likely to be caused by graphitic units of the type
that are closely associated with all the major uranium deposits of the
The Company and CanAlaska plan additional ground geophysical surveys
during the coming winter to more accurately refine the conductor locations
prior to diamond drilling.
The property is under option from CanAlaska Uranium Ltd. Under the terms
of the agreement, WestCan will pay to CanAlaska a total of $150,000, issue
600,000 shares, and commit to $3.6 million in expenditures on the claims in
exchange for receiving a 50-per-cent interest in the project. The commitments
are to be staged over a three-year period. CanAlaska will also receive a
3-per-cent net smelter royalty.
Technical information in this news release has been prepared and/or
reviewed by Colin Bowdidge, Ph.D., P.Geo., a director of the company and a
Qualified Person as defined in NI43-101.
Statements about the Company's future expectations and all other
statements in this press release other than historical facts are "forward
looking statements". The Company intends that such forward-looking statements
be subject to the safe harbours created thereby. Since these statements
involve risks and uncertainties and are subject to change at any time, the
Company's actual results may differ materially from the expected results.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Mr. Chris England (President), Phone: (604)
694-0888, Email: firstname.lastname@example.org, Website: www.arimexresources.com