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Uracan Resources Ltd. (TSXV:URC) announced that it and UEX Corp. (TSX:UEX) have started a $455,000 diamond drilling program at the Black Lake project, located on the Athabasca Basin’s northern margin. It will consist of about 1,900 meters.
Uracan Resources Ltd. (TSXV:URC) announced that it and UEX Corporation (TSX:UEX) have started a $455,000 diamond drilling program at the Black Lake project, located on the Athabasca Basin’s northern margin. It will consist of about 1,900 meters.
As quoted in the press release:
This exploration drilling program will further test geophysical and geochemical targets identified by previous exploration work both at the unconformity as well as in the underlying basement rocks. Bleaching and desilicification of the sandstone as well as strong local clay alteration and dravite zones have been intersected on the property consistent with those commonly associated with uranium deposits elsewhere in the Athabasca Basin. Prospective fault structures offsetting the unconformity (reverse faulting on the main conductor and southeast-northwest cross structures) are also present throughout the Property and are considered good potential hosts for unconformity and basement-hosted uranium mineralization. The exploration program is being conducted with UEX Corporation acting as the operator.
Click here to read the full Uracan Resources Ltd. (TSXV:URC) press release.