Uracan continues to intercept large widths of mineralization while expanding
the Double S Zone
TX-V: URC
Uranium mineralization on the property continues to occur as broad multiple stacked mineralized zones hosted by granites and pegmatites, with significant drilled widths ranging from 9.0 meters grading 213 ppm (0.021%) U3O8 to 52.5 meters grading 110 ppm (0.011%) U3O8.
Double S Drilling
A total of 4,181.3 meters in 15 diamond drill holes was completed from June to September of 2009. Surfactant's summer drilling objective was achieved by expanding the Double S zone mineralization to the southeast. Of the remaining drill holes, all have intercepted significant mineralization. These include:
- 52.5 meters of 111 ppm U3O8 (0.011%) in SS-09-102 - 29.5 meters of 134 ppm U3O8 (0.013%) in SS-09-99 - 26.0 meters of 127 ppm U3O8 (0.013%) in SS-09-101 - 22.6 meters of 128 ppm U3O8 (0.013%) in SS-09-97
A summary of selected mineralized zones from the returned assays is included below:
------------------------------------------------------------------------- Area Drill Hole From (m) To (m) Length (m) U3O8 % U3O8 ppm ------------------------------------------------------------------------- Double S SS-09-96 95.9 103.2 7.3 0.018 176 ------------------------------------------------------------------------- Double S SS-09-97 261.5 272.0 10.5 0.013 131 ------------------------------------------------------------------------- Double S SS-09-97 286.2 308.8 22.6 0.013 128 ------------------------------------------------------------------------- Double S SS-09-98 163.2 172.2 9.0 0.021 213 ------------------------------------------------------------------------- Double S SS-09-99 233.5 263.0 29.5 0.013 134 ------------------------------------------------------------------------- Double S SS-09-100 62.4 77.5 15.1 0.019 191 ------------------------------------------------------------------------- Double S SS-09-100 103.2 117.4 14.3 0.017 172 ------------------------------------------------------------------------- Double S SS-09-100 173.4 183.2 9.9 0.016 156 ------------------------------------------------------------------------- Double S SS-09-101 173.3 182.3 9.0 0.011 110 ------------------------------------------------------------------------- Double S SS-09-101 192.8 218.8 26.0 0.013 127 ------------------------------------------------------------------------- Double S SS-09-102 118.9 171.4 52.5 0.011 111 -------------------------------------------------------------------------
A map showing the Double S drill hole locations can be found at http://www.uracan.ca/i/maps/DoubleS-10k-geology.pdf. Drill hole coordinates and a complete listing of assay results will be posted on Surfactant's updated website: www.uracan.ca.
An updated NI 43-101 compliant resource estimate, based on the new drilling completed in 2009, will be compiled later in Q1/10.
QA/QC
Samples were shipped by Company personnel in sealed containers to Chemex Laboratories of Val D'Or,
A QA/QC program was implemented as part of the sampling procedure for the drill program. Field duplicates, field blanks and certified standards were inserted into the sample stream with at least one blank, one duplicate and one standard inserted per group of 40 samples sent to the laboratory. The laboratory also has an extensive in house QA/QC system as part of their quality control system.
Uracan Resources Ltd. is a publicly-listed uranium exploration company, exploring for shallow, bulk tonnage style uranium mineralization in
Investors are invited to visit the Uracan Resources IR Hub at http://agoracom.com/ir/UracanResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to [email protected] where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
Neither TX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of the Company. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com ). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
For further information: Gregg J. Sedun, Chairman & CEO, (604) 682-5580; Keith Schaefer, Vanguard Shareholder Solutions, (604) 608-0824; David Fry, Corporate Development, (778) 330-2759; Marc Simpson, Exploration Manager, (604) 682-5580
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