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Aug 12, '14 - NR
Uravan Minerals Inc. has commenced core drilling operations on its Stewardson Lake property. The property is located on the Virgin River structural trend within the south-central portion of the Athabasca basin, Saskatchewan. The drill program is targeting the potential occurrence of high-grade unconformity-related uranium mineralization at depth. Specific drill targets have been established based on the cumulative results of previously completed airborne and ground geophysical surveys and surface geochemical sampling programs. These remote sensing surveys have identified a highly anomalous northeast-southwest-trending electromagnetic conductive corridor that is coextensive with a significant anomalous surface geochemical signature.
The Stewardson drill program is a joint exploration effort between Uravan and Cameco Corp. Uravan owns 100 per cent of the Stewardson property and Cameco is earning an interest. Uravan is the operator with the responsibility to plan and implement the technical program in consultation with and on behalf of Cameco, which is financing the 2014 exploration.
The 2014 drill program will consist of two 1,400-metre diamond drill holes designed to test the uranium-bearing potential of the E conductor located in the south-central portion of the property. This significant conductive bright spot is a basement conductive feature previously identified in a 2013 airborne ZTEM geophysical survey, and defined further by two recently completed surface geophysical surveys: (1) a SQUID fixed loop TDEM survey completed by Patterson Geophysics Inc. of La Ronge, Sask.; and (2) IFG (AMT) survey completed by EMpulse Geophysics Ltd. of Dalmeny, Sask. These geophysical surveys have proven to be effective in detecting conductive sources in deeper terrain.
In June, 2014, a multifaceted infill surface geochemical sampling program was completed. This program was designed to provide detail to the 2011 propertywide multifaceted surface geochemical sampling program. The infill sampling grid was oriented directly over the E conductor in target area A. The infill sampling program consisted of 481 survey sites for collecting tree cores, B and C horizon soil samples for analysis of the clay-size fraction, and A2-horizon soil samples for MET analysis. Soil sample preparation and elemental analysis was completed by Acme Laboratories in Vancouver, B.C. The clay-size fraction (less than two micrometres) from soil samples was separated and then analyzed for 53 elements plus all rare earth elements and lead isotopes, by ICP-MS and ICP-ES. The A2 horizon soil samples were analyzed by Environmental BioTechnologies Inc. in Lodi, Calif., using its MET analytical method. The infill sampling program was completed by Uravan's technical group.
Drilling operations are being conducted by Major Drilling Group International Inc. from Winnipeg. It is anticipated that the two DDHs will be completed by late September, 2014. Each DDH will be surveyed using a Mount Sopris triple gamma probe (2GHF-1000) for detecting and measuring radioactivity (suggesting potential uranium mineralization). All drill cores will be systematically scanned using ASD Terraspec instrumentation for determining clay mineralogy, which provides a means of establishing the extent of hydrothermal alteration. The drill core will be routinely sampled and will be prepared and assayed at Acme Laboratories in Vancouver by multielement ICP-MS for 59 elements, plus lead isotopes. The Queen's Facility for Isotope Research will conduct additional analysis of core samples using high-resolution ICP-MS to determine the concentration of certain isotopic compositions. Final drill hole positioning was based on the direct correlation of the 2014 infill surface geochemical sampling results with the surface trace of the E conductor. Data analysis and interpretation of the infill surface geochemical results identified a significant anomalous corridor that is both conformable and co-extensive with the surface trace of the E conductor. Of particular interest are the radiogenic lead isotopic ratios (207Pb/206Pb) and uranium anomalies in the soil clay-size fraction, which are supported by anomalous MET analytical results. These anomalous surface geochemical signatures, when displayed with the E conductor and other interpreted geophysical features and structural patterns, highlight the most probable location of potential uranium mineralization at depth along the trace of the E conductor.
Larry Lahusen, chief executive officer with Uravan, states: "I believe the E conductor represents a significant conductive bright spot that correlates amazingly well with surface geochemical anomalies, a key requirement in Uravan's exploration strategy for vectoring to uranium deposits under cover. Since 2008, Uravan and QFIR have pursued innovative surface geochemical techniques that help define prospective exploration targets associated with positive geophysical, structural and geological features. Following two surface geochemical sampling studies over known high-grade uranium deposits at Cigar West and Centennial, and five other surface geochemical programs on Uravan's active projects, we are now starting to understand what a mineralized conductor looks like geochemically versus the many barren or blind conductors that transect the Athabasca basin. The E conductor bright spot correlates well with anomalous surface geochemical patterns that has defined a unique drilling opportunity and a potential game changer for uranium exploration."
Dr. Colin Dunn, PGeo, technical adviser for Uravan, is the qualified person for the purposes of National Instrument 43-101 with respect to the technical information in this press release. Dr. Dunn, an independent specialist in biogeochemistry, is working closely with Uravan's technical group and QFIR to advance the interpretation of surface geochemical results. |
