Uracan Resources Ltd. reports that further to its news release of December 2, 2010, it has announced the remaining assay results from drilling completed during its 2010 fall drilling campaign.
This drilling focused on two areas of the property: the Costebelle A4 and CC11 zones, part of the Company's 100% owned North Shore Project in Quebec. The CC11 zone represents a new discovery for 2010, emphasizing the potential for the North Shore Property to host additional significant uranium mineralization.
Highlights include 59.65 meters of 0.026% U3O8 (265ppm or 0.53 lbs/t) in CA4-10-22 and 14.65 meters of 0.023% U3O8 (231ppm or 0.46 lbs/t) in CC11-10-02.
The 16 hole, 2,075 meter fall drill program was designed to follow up exploration targets outlined during the winter 2010 drill program at the A4 zone, as well as drilling targeted surface sampling results from the 2010 work program.
The CC11 zone drilling represents a new discovery in the Costebelle claim area and is located approximately 3 kilometers east of the A4 zone. Mineralization at the CC11 zone is hosted by a mineralized pegmatite ranging up to 14.65 meters drilled length. Mineralization in drilling and surface channel sampling has been defined over an 800 meter strike length within a 1200 meter airborne radiometric anomaly. The mineralized pegmatite appears to be dipping to the northwest at CC11 based on surface mapping and drill results.
Drilling has also confirmed that uranium mineralization at the Costebelle A4 Zone continues down dip from the surface channel samples and previous drill holes. The area with drill results received to date occurs along an approximately 500 meter length within an overall potential strike length of approximately 1,500 meters, as defined by airborne radiometrics, surface mapping and channel sampling along with previous drilling.
Mineralization is open along strike and to depth starting from surface throughout this area. Mineralization has been extended to approximately 200 meters down dip from the surface outcrop mineralization.
Uranium mineralization at the Costebelle A4 zone occurs as broad multiple stacked mineralized zones hosted by pegmatite dykes and sills with drilled thicknesses ranging up to 59.65 meters as noted in winter and fall 2010 drilling. The true thickness of these zones is unknown at this time but is thought to be similar to drilled thickness as lithologies are noted to be dipping shallowly to the west.
Costebelle A4 Drilling
A total of 1660.75 meters in 12 diamond drill holes were completed during October and November 2010. Uracan's fall drilling objective was to further identify the extent of mineralization encountered in drill results and surface results outlined during both the winter 2010 drill program and the subsequent summer 2010 sampling program.
Drilling continues to outline mineralization extending to depth with similar widths and grades to those seen in the previous drill program at the A4 zone.
Costebelle CC11 Drilling
A total of 414 meters in 4 diamond drill holes was completed during October and November 2010 at the CC11 zone. Drilling was targeted on surface channel results outlined as part of a mapping and sampling program on the area. Mapping, airborne and surface geophysical work outlined a potential 1200 meter long pegmatite body. Drilling was carried out over an 800 meter strike length of this pegmatite.
The drilling encountered significant uranium mineralization in all drill holes. The Company plans to follow up this drilling this winter with further diamond drilling to further define uranium mineralization in this area.
Source: Uracan Resources Ltd.