Update - Uravan Athabasca Basin projects

CALGARY, May 7, 2013 /CNW/ - 
Stewardson Lake Project 
In June 2013, a property-wide heliborne electromagnetic (EM) geophysical 
survey will commence over the Stewardson Lake project, Athabasca Basin(1), 
Northern Saskatchewan [map link]. The survey will be conducted by Geotech 
Ltd. using their Z-Axis Tipper Electromagnetic (ZTEM) system and will total 
779 line-kilometres at 500 meter line spacing. 
The ZTEM system is considered ideal for furthering the exploration of the 
Stewardson Lake project where the underlying basement is locally overlain by 
low resistivity Athabasca Group sediments and unconformity depths range from 
an estimated 900 m in the south to greater than 1100 m in the north. The key 
features of the ZTEM system that will provide high quality data collection 
over the Stewardson Lake project, are 1) its high spatial resolution (8 to 10 
meters), 2) excellent resistivity discrimination for detection of conductive 
anomalies, and 3) low frequency penetration (as low as 30 Hz) through the 
conductive Athabasca sediments, resulting in depth resolution to >1500 meters.. 
Following the completion of the ZTEM survey, follow-up ground EM survey(s) and 
infill surface geochemistry over prospective areas are anticipated. This work 
will focus on key EM geophysical targets that are supported by anomalous 
surface geochemical signatures. 
A multifaceted surface geochemical sampling program (1663 sample sites at 
about 500 meter spacing) over the Stewardson Lake project area was completed 
by Uravan in July 2011(2) and identified several anomalous zones The program 
consisted of collecting B- or C-horizon soil samples, along with vegetation 
and tree core samples from black spruce and jack pine trees(3). The southwest 
and south-central portion of the Stewardson Lake property is highlighted by 
correlations of low radiogenic lead (Pb) isotope values ((207)Pb/(206)Pb 
ratios) between clay and tree core samples that are preferentially distributed 
in proximity to interpreted structural trends [map link]. The airborne ZTEM 
survey could potentially highlight conductive features that are supported by 
anomalous surface geochemical trends thereby refining future drill targets. 
The Stewardson Lake property overlies the Dufferin Lake Fault, which extends 
northeast-southwest across the central portion of the property. Most of the 
historical geophysical surveys conducted by previous operators are considered 
test surveys to determine which techniques were effective to define conductors 
in the basement at depths >1100 meters. In 1997 diamond drill-hole VR-01 was 
completed at 1180 meters (unconformity at 1135 meters) and positioned near the 
center of a previously identified boron-rich surface anomaly suggestive of 
intense hydrothermal alteration centered on Stewardson Lake. The results of 
this drill-hole were positive, intersecting highly anomalous boron 
concentrations in the upper 700 m, followed by predominantly illite and 
chlorite clay alteration (>80%) below 700 meters, local uranium enrichment up 
to 3.78 ppm U308 in the sandstone, and anomalous (Pb) isotope values 
((207)Pb/(206)Pb isotopic ratios) below 500 meters. 
Halliday Lake Project 
In July and August 2012, five (5) diamond drill-holes (DDH HL-01, -02, -03, 
-05 and -06) were completed on the Halliday project totalling 4,836 meters 
drilled [press release link]. Drill-holes were positioned to test the 
potential occurrence of uranium mineralization at depth along a prominent 5 
kilometre long, east-west trending corridor. This corridor was defined by an 
EM geophysical conductor (Conductor A), which cross-cuts a prominent linear 
magnetic low and was supported by a concordant distribution of anomalous 
surface geochemical signatures(2, 3) [map link]. 
Although no economic uranium mineralization was encountered during this drill 
program, the intersection of structurally disrupted graphitic pelites and 
narrow (<0.65m thick) anomalous uranium mineralization (487 to 733 ppm U) in 
basement rocks was encouraging. Additionally, drill-hole HL-01 intersected 
pervasive illite clay mineral alteration and sandstone bleaching throughout 
the Athabasca Sandstone section and well-developed chlorite clay alteration 
from 10 meters above the unconformity. These key alteration components, which 
are coincident with elevated pathfinder elements and REEs through the 
Athabasca Sandstone section, suggest that a more advanced hydrothermal and 
structural system potentially exists toward the untested western end of the 
Conductor A corridor. Positive surface geochemical anomalies (soils and trees) 
also highlight an area west of DDH HL-01 and EL-10 along Conductor A. 
In March 2013, Aurora Geosciences Ltd. (Aurora), in collaboration with Uravan 
and Cameco Corporation, conducted a 'test' EM ground geophysical survey over 
Conductor A, west of DDH HL-01 [map link]. The test survey was completed by 
Aurora using their extremely low frequency electromagnetic (ELF-EM) system 
(Link to technical report). The ELF-EM system is a ground-based geophysical 
technique/instrument that is easily transported and does not require cut 
lines. The system calculates the tilt angle (tipper) of the magnetic fields 
from 11 Hz to 1440 Hz and is designed to image resistivity from depths of 10 
meters to 2 kilometers. 
The ELF-EM test survey area comprised five (5) lines, totaling 19.8 
line-kilometers at approximately 600 meter line-spacing [map link]. Two of the 
lines surveyed were centered over previously identified conductive geophysical 
anomalies (to include Slingram Moving Loop survey techniques) for data 
orientation and comparison. Three additional lines were surveyed to test the 
ELF-EM system where little or no geophysical data existed, along the strike of 
Conductor A and west of DDH HL-01. The purpose of the test survey was to 
compare the results from the ELF (low-frequency) EM system to other more 
costly Moving Loop geophysical techniques, and to evaluate the Conductor A 
west of DDH HL-01 using a low-frequency geophysical technique. The results and 
interpretation of the test survey are currently being completed by Aurora. 
The Stewardson Lake and Halliday Lake projects are a joint exploration effort 
between Uravan and Cameco Corporation pursuant to the Halliday/Stewardson 
Option Agreement dated effective June 21, 2012 [Press Release dated July 17, 
2012]. Uravan is currently the operator with the responsibility to plan and 
implement the exploration programs on behalf of Cameco. 
Dr. Colin Dunn, P. Geo., technical advisor for Uravan, is the Qualified Person 
for the purposes of NI 43-101 with respect to the technical information in 
this press release. 
(1)The Athabasca Basin is an ancient (Paleoproterozoic) sandstone basin 
located in northern Saskatchewan, Canada. The Athabasca sandstone (Manitou 
Falls (MF) Formation) hosts high-grade uranium deposits at and below the 
unconformity between the sandstone and the older crystalline basement rocks. 
These unconformity-type uranium deposits occur in sandstones at the 
sandstone-basement unconformity contact (sandstone-hosted mineralization) and 
within the underlying structurally disrupted crystalline basement 
(basement-hosted mineralization). These unconformity-type uranium deposits 
account for about 28 percent of the world's primary uranium production. The 
ore grades are high, typically grading 2% to 20% U(3)0(8). 
(2)The Stewardson and Halliday project surface anomalies were identified by a 
multifaceted geochemical sampling program completed by Uravan in the summer of 
2011. This surface program capitalized on new geochemical technologies 
developed from a geochemical remote sensing study conducted over the Cigar 
West Uranium deposit (Cigar Lake Study)(4), which focused on the detection of 
buried unconformity-related uranium mineralization in under-explored areas in 
the Athabasca Basin 
(3)Clay-sized fractions (<2μm) were extracted from the B- and C-horizon soil 
samples for analysis, and vegetation samples underwent ashing prior to 
analysis. The clay fractions and ashed vegetation tissues were analyzed by 
Acme Laboratories in Vancouver, British Columbia by ICP-MS following an aqua 
regia digestion for a suite of fifty-three (53) elements, plus all rare earth 
elements (REE) and lead (Pb) isotopes. Tree core samples were prepared by 
the Queen's Facility for Isotope Research(5) (QFIR) where they underwent total 
digestion and analysis using high resolution ICP-SFMS for fifty (50) elements 
and Pb isotopes. 
(4)The Cigar West Study was a collaborative applied research program conducted 
by Uravan and QFIR (Queen's Facility for Isotope Research(5))( )in 2009 over a 
known high-grade uranium deposit in the Athabasca Basin. The study was 
designed to develop new surface geochemical techniques that can better 
identify bedrock sources of uranium mineralization at depth. This research 
clearly identified distinctive elements and isotopic compositions that have 
been mobilized from the deposit (geosphere) to the surface media (plants and 
soils) from depths >450 meters. The Cigar Lake deposit is on the 
Waterbury/Cigar uranium property located in the Athabasca Basin, Saskatchewan, 
and is a joint venture partnership between Cameco Corporation, AREVA, Idemitsu 
Kosan Co. Ltd., and Tokyo Electric Power Co. [TEPCO]). Uravan thanks both 
AREVA and Cameco for their collaboration and gracious support for the Cigar 
West Study, and the support provided by the Cigar Lake facility during our 
field operations. 
(5)The Queen's Facility for Isotope Research (QFIR) at Queens'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.   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 diversified mineral exploration company 
that utilizes applied research to develop new innovative exploration 
technologies to identify buried uranium, rare earth elements (REEs) and 
nickel-copper-platinum group element (Ni-Cu-PGE) deposits in under-explored 
areas. Our exploration focus in uranium is for potential high-grade 
unconformity-type 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 
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. In particular, this news release contains 
forward-looking statements pertaining, directly or indirectly, to the use of 
proceeds of the Offering. Readers are cautioned that the foregoing list of 
risk factors should not be construed as exhaustive. These statements speak 
only as of the date of this release or as of the date specified in the 
documents accompanying this release, as the case may be. The Corporation 
undertakes no obligation to publicly update or revise any forward-looking 
statements except as expressly required by applicable securities laws. 
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that 
term is defined in the policies of the Exchange) accepts responsibility for 
the adequacy or accuracy of this release. 
Larry Lahusen, CEO Uravan Minerals Inc. Tel: 403-264-2630 
Email:llahusen@uravanminerals.com, Website:www.uravanminerals.com 
SOURCE: Uravan Minerals Inc. 
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CO: Uravan Minerals Inc.
ST: Alberta
-0- May/07/2013 15:37 GMT
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