SASKATOON, Jan. 11 /CNW/ - Titan Uranium Inc. ("Titan" or the "Company") (TSX-V:TUE, FSE:T4X) is pleased to announce the analytical results from the Company's summer 2010 drill campaign and provide an update on a Direct Current (D.C.) resistivity geophysical program conducted this fall on the Border Block project. The Border Block project is the subject of a Letter of Agreement between Titan and Japan Oil, Gas and Metals National Corporation (JOGMEC) wherein JOGMEC can earn a 50% undivided interest in the project by funding Cdn $6 million in exploration over four years (see Titan's  press release of November 12, 2008).

Three drill holes were completed for a total of 1504 metres to test favourable uranium targets at or near the unconformity between the Athabasca sandstone rocks and the underlying basement rocks. Analytical results from holes MB-10-01 and CSE-10-01 displayed anomalous Uranium values in the Athabasca sandstone and basement rocks. Anomalous levels of pathfinder elements Boron, Molybdenum, Cobalt, Arsenic, Vanadium, and Lead were also found in the Athabasca sandstone and basement rocks.

CSE-10-01 intersected anomalous levels of Rare Earth Elements, particularly Yttrium, in the Athabasca sandstone rocks. The analytical results also indicated the presence of illite and sudoite clay species throughout the sandstone rocks, generally in areas with the greatest Boron concentrations. In addition, the sandstone and basement rocks displayed evidence of faulting which was typically associated with bleaching and alteration. Boron, illite and sudoite anomalies are typically part of hydrothermal alteration systems associated with unconformity style uranium mineralization in the Athabasca Basin.

Approximately twenty-three line kilometres of Pole-Dipole D.C. resistivity surveys to search for alteration chimneys along the H-Grid Time Domain Electromagnetic (TDEM) conductive trend were completed in November 2010 (see November 03, 2010 press release). This data is currently being assessed, interpreted and compiled for targeting in future drill programs along the H-Grid conductor trend where favourable alteration indicators together with anomalous uranium values were also identified in past drill campaigns (see June 17, 2010 press release).

The Border Block project is located in the southwest area of the Athabasca Basin, near the Alberta border and comprises the Maybelle River, Gartner Lake, King and Castle South Extension properties. The project (76,354 hectares/188,675 acres) covers an area where historic exploration data identified favourable basement rocks capable of hosting uranium mineralization. The basement rocks are thought to be correlative with those  found on the adjacent AREVA/UEX  Corp.'s  Shea Creek  project which hosts  significant uranium mineralization in the Anne, Collette and Kianna deposits.

Rodney Koch, P. Geo, Vice-President Exploration Canada for Titan, is the qualified person responsible for the technical information contained in this release.

About Titan Uranium Inc.

Titan Uranium's vision is to be a leading mid-tier North-American uranium exploration, development and mining company. Our mission is to create shareholder value by advancing quality projects to production.

Our growth strategy is driven by three elements:

•Development: A pre-feasibility study has been completed at the Sheep Mountain Uranium Project, Wyoming. The deposit contains a NI 43-101 compliant probable reserve of 14.2M lbs. of U3O8 (6,393,000 tons at 0.111% e U3O8) (see Titan press release April 12, 2010).

•Exploration: The goal is to discover world class uranium deposits by exploring over 1.5M acres of land in the proven Athabasca and prospective Thelon Basins. Exploration programs are also active in Utah and Wyoming.

•Consolidation: The Company is actively pursuing M & A opportunities and focused on uranium-friendly jurisdictions such as Saskatchewan and Wyoming.

Titan has gained market recognition for its ability to attract strategic partners to participate in the exploration of its properties. Japan Oil, Gas and Metals National Corporation and Mega Uranium Ltd. are partners in current exploration programs managed by Titan.

Titan is well-financed and ideally positioned to emerge as a pre-eminent player in the uranium industry.


Chris M. Healey, President

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.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Titan Uranium, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Titan Uranium's expectations are exploration risks detailed herein and from time to time in the filings made by Titan Uranium with securities regulators.

SOURCE Titan Uranium Inc.

For further information:

Investor Relations
Titan Uranium Inc.
Phone: 306-651-2405 or 604-925-1810
Facsimile: 306-651-5105
Email: ir@titanuranium.com
Web: www.titanuranium.com

Profil de l'entreprise

Titan Uranium Inc.

Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.