Uravan Minerals Inc. Commences Core Drilling Operations on its Stewardson Lake Property
Aug 12 14
Uravan Minerals Inc. (Uravan) 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. The Stewardson drill program is a joint exploration effort between Uravan and Cameco Corporation. Uravan owns 100% 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, who is funding the 2014 exploration. The 2014 drill program will consist of two 1400m diamond drill-holes (DDHs) designed to test the uranium-bearing potential of the E-Conductor located in the south-central portion of the property.
Uravan Minerals Inc. Completed Phase One of Three Phase Exploration Program on the Stewardson Property
Apr 30 14
Uravan Minerals Inc. completed phase one of a three phase exploration program on the Stewardson property. The Stewardson property is located on the Virgin River structural trend within the south-central portion of the Athabasca Basin, Saskatchewan and is a joint exploration effort between Uravan and Cameco Corporation (Cameco). Uravan is the operator with the responsibility to plan and implement the technical program in consultation with and on behalf of Cameco, who is funding the 2014 exploration. The first phase of exploration consisted of a surface SQUID Fixed Loop TDEM geophysical survey completed under winter conditions by Patterson Geophysics Inc. of La Ronge, SK. The SQUID TDEM system has proven to be effective in detecting conductive souses in deeper terrain. The Fixed Loop survey grid consisted of nine (9) survey lines and three (3) sets of opposing loops, positioned perpendicular to the north trending E-conductor (Target Area "A") located in the south-central portion of the Stewardson property. Target Area "A" outlines the most conductive portion of the E-conductor previously identified in the airborne ZTEM geophysical survey completed in 2013. The ZTEM survey delineated two (2) prominent basement conductive features that transect the Stewardson property. These conductive features are interpreted to be the northern extension of the C- and E-conductors defined by Cameco on their Virgin River project, which adjoins the Stewardson property to the south. The preliminary interpretation of the SQUID TDEM data indicates a strong correlation with the ZTEM-defined trace of the E-conductor. Modeling of the SQUID TDEM data is in progress. The trace of the E-conductor in Target Area A is supported by an anomalous surface geochemical corridor made up of radiogenic lead (Pb) isotopic ratios ((207) Pb/(206) Pb) in the clay-size fraction of soil samples and tree-cores, and anomalous uranium values in the clay-size fraction of soil samples. These surface geochemical anomalies were identified from a property-wide multifaceted surface geochemical sampling program completed by Uravan in 2011. The direct correlation of the E-conductor with an anomalous surface geochemical corridor, as defined above by the unique element and isotopic compositions, are key coincident components required to define potential uranium mineralization at depth versus drilling blind conductors. In early June 2014, the second phase of exploration will commence over Target Area A. This phase will consist of two components: (1) a surface Internal Field Gradient (IFG) geophysical survey; and (2) an infill surface geochemical sampling program. The IFG survey is a 'natural source' electromagnetic (EM) system that will be conducted by EMpulse Geophysics Ltd. of Dalmeny, SK. The IFG survey will be positioned concordant with the three (3) central lines of the SQUID TDEM profiles, and is intended to supplement the Fixed Loop SQUID data. The planned infill surface geochemical sampling program is designed to provide detail to the previous property-wide multifaceted surface program completed in 2011, and will be oriented directly over the E-conductor in Target Area 'A'. The surface program will consist of 450 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. The sampling grid is designed to merge with the 2011 surface geochemical data, collected on a 500 m grid spacing, to give an effective sampling grid density of approximately 200 m. Soil sample preparation and elemental analysis will be completed by Acme Laboratories in Vancouver, B.C. The clay-size fraction of soil samples (<2 m) will be separated and then analyzed for 53 elements plus all rare earth elements (REEs) and lead (Pb) isotopes, by ICP-MS and ICP-ES. The A2-horizon soil samples will be analyzed by Environmental BioTechnologies Inc. (EBT) in Lodi, California, using their MET analytical method. The infill sampling program will be conducted by Uravan's technical group. The proposed third phase of the exploration program will consist of two (2) diamond drill-holes to test the E-conductor in Target Area "A". Final drill-hole positioning will be based on the combined results and correlation of the surface geophysical and infill geochemical surveys. Mobilization of drilling equipment to the Stewardson property was completed in March 2014 under winter conditions. Drilling operations will commence in August 2014 and be conducted by Major Drilling Group International Inc. from Winnipeg, Manitoba.
Uravan Minerals Inc. Auditor Raises 'Going Concern' Doubt
Apr 22 14
Uravan Minerals Inc. filed its Annual on Apr 22, 2014 for the period ending Dec 31, 2013. In this report its auditor, Meyers Norris Penny LLP - MNP LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.