Resource News

Uracan Resources Ltd. (TSX.V:URC) and joint venture partner, UEX Corporation (TSX.V:UEX) started the $650,000 diamond drilling program of approximately 3,000 metres on the Black Lake Project, located in the norther part of the Athabasca Basin.

Uracan Resources Ltd. (TSX.V:URC) and joint venture partner, UEX Corporation (TSX.V:UEX) started the $650,000 diamond drilling program of approximately 3,000 metres on the Black Lake Project, located in the norther part of the Athabasca Basin.

According to the company’s press release:

The Black Lake Project covers a total of 30,381 hectares within the Athabasca Basin. The exploration drilling program will test geophysical and geochemical targets identified by previous exploration work.  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, southeast-northwest cross structures) are also noted throughout the Property and are considered good potential hosts for uranium mineralization. The exploration program is being carried out with UEX Corporation acting as the operator on the Property.

Click here to view the full press release.

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