Titan Uranium Launches Geophysical Programs and Reports on Drilling Results From Athabasca Basin Properties
18 Dicembre 2009 - 11:55PM
Marketwired
Titan Uranium Inc. (TSX VENTURE: TUE)(FRANKFURT: T4X) is pleased to
announce that it has commenced geophysical programs on several
Athabasca Basin properties in Saskatchewan. A D.C. Resistivity and
Max Min Horizontal Loop ElectroMagnetic (HLEM) geophysics program
on Titan's wholly owned Bishop I and Meanwell properties is now
underway with results expected in January 2010. In addition,
geophysical work will be carried out over Titan's R-Seven Project
beginning in early January 2010 consisting of TDEM (Time Domain
ElectroMagnetic) Moving Loop surveys with results expected by the
end of the first quarter of 2010.
D.C. Resistivity is the geophysical technique of choice in the
Athabasca Basin due to its ability to image hydrothermal alteration
systems often associated with fault zones and unconformity-type
uranium deposits. The alteration zones show up as resistivity
"chimneys" due to the significant contrast in resistivity between
the structural zones and their surrounding rocks. The program will
consist of ten lines totaling 20 line km, with line spacing of 150
m.
Max Min HLEM and TDEM Moving loop surveys are electromagnetic
(EM) techniques used to detect and delineate conductors and
conductive formations in the Precambrian basement rocks at or under
sandstone cover. Both EM surveys have been designed to optimize
resolution within that interval. The surveys will consist of eleven
lines of HLEM (24.2 km) and two lines of TDEM Moving Loop (17
km).
Geochemical results from drill core collected during the recent
summer drill program on the Sand Hill Lake Project have been
analyzed and interpreted. The Sand Hill Lake Project is under
option agreement to Vale Exploration Canada Inc. (VEC) and operated
by Titan. In total 1,330 meters of core were drilled during the
5-hole drill program and all the holes were successfully
completed.
Most of the Athabasca Group sandstone rocks exhibited moderate
to strong bleaching and clay alteration was well developed. Strong
alteration was found in basement rocks below the unconformity,
mainly along fractures. Weak Uranium anomalies were observed in
both the sandstone and basement rocks. Strong Boron, Arsenic,
Copper and Molybdenum anomalies were detected in the basement rocks
of DDH SH09-28. Building on the results of previous drill programs,
the area surrounding drill holes SH06-2, SH06-3 and SH09-26 and
near drill holes SH09-28 and SH09-29 is recommended for future
work, e.g. D.C. Resistivity to define the alteration halos followed
by additional diamond drilling. VEC has decided not to pursue the
option and accordingly has elected to terminate the Letter
Agreement as the project at this stage no longer fits within its
strategic exploration plan.
Rodney Koch, P. Geo, Vice-President Exploration Canada for
Titan, is the qualified person responsible for the technical
information contained in this release.
About Titan Uranium Inc.
Titan Uranium's vision is to be a leading mid-tier
North-American uranium exploration, development and mining company.
Our mission is to create shareholder value by advancing quality
projects to production.
Our growth strategy is driven by three elements:
-- Development: A pre-feasibility study has been launched at the Sheep
Mountain Uranium Project, Wyoming. The deposit contains a NI 43-101
compliant inferred resource of 15.6M lbs. of U3O8 (4,560,000 tons at
0.17% eU3O8).
-- Exploration: The goal is to discover world class uranium deposits by
exploring over 1.5M acres of land in the proven Athabasca and
prospective Thelon Basins. Exploration programs are also active in Utah
and Wyoming.
-- Consolidation: The Company is actively pursuing M & A opportunities and
focused on uranium-friendly jurisdictions such as Saskatchewan and
Wyoming.
Titan has gained market recognition for its ability to attract
strategic partners to participate in the exploration of its
properties. Japan Oil, Gas and Metals National Corporation and Mega
Uranium Ltd. are partners in current exploration programs managed
by Titan.
Titan is well-financed and ideally positioned to emerge as a
pre-eminent player in the uranium industry.
ON BEHALF OF TITAN URANIUM INC.
Brian A. Reilly, President
This News Release includes certain "forward-looking statements".
All statements other than statements of historical fact, included
in this release, including, without limitation, statements
regarding potential mineralization and reserves, exploration
results, and future plans and objectives of Titan Uranium, are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from Titan Uranium's expectations are exploration risks
detailed herein and from time to time in the filings made by Titan
Uranium with securities regulators.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Contacts: Titan Uranium Inc. Investor Relations 306-651-2405 or
604-925-1810 306-651-5105 (FAX) ir@titanuranium.com
www.titanuranium.com
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