Uravan Minerals

Uravan Minerals Inc (TSXV:UVN) reported on its Outer Ring-Mathison projects in Canada.

As quoted in the press release:

The 2011 OR-MATH drill programs were reconnaissance in nature, targeting selected surface geochemical signatures identified from a multifaceted sampling program completed over the OR-MATH projects in 2010 and 2011. Based on down-hole Natural Gamma survey results, all drill holes intersected zones of high radioactivity (levels >7.5 times background) averaging 350 – 707 API(cps) occurring over significant intervals (10 to 13 meters) in the Athabasca Sandstone at the basal unconformity and over broad zones (>20 metres) below the unconformity in the underlying crystalline basement rocks. All zones having high radioactivity were systematically sampled and assayed. Analytical results indicated that drill-hole OR11-03 intersected the most significant section of uranium mineralization, assaying returned 89.9 ppm U₃O₈ (~0.01% U₃O₈) over 0.5 meter at the unconformity at a depth of 781 meters.

Click here to read the Uravan Minerals Inc (TSXV:UVN) press release.