Vanadian Energy Corp V.VEC.H

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[brvalentine]

Uracan Resources (TSXv:URC): Uracan’s efforts to date have all been focused on its North Shore Property in Quebec (on the north shore of the St. Lawrence River). This 900 sq. km property has a documented history of exploration from the late 1960s and late 1970s by Denison, Imperial Oil and Uranerz. These companies found mineralization in the basement rocks (ie pegmatite) of grades up to 0.5 pounds per ton. There is a non 43-101 compliant resource of 55M lbs of 0.025% (.55 lbs per tonne) on the Wee Gee property which lies SE about 25Km’s from where they have been drilling. Uracan has just released its drill data on 46 of 58 holes drilled over the past several months. The majority of the assay’s had uranium mineralization from surface. However, two holes in particular SS-22 and SS-23 should start creating a buzz in the industry. Hole SS-23 returned 124M of .55 lbs per tonne with the first 40 metres from surface running .88 lbs per tonne. I don’t know what your math says but to me it spells 124 metres of $65 rock that would probably only cost $20 per tonne to mine (back of the napkin). Find 200 million tonnes of this ore grade and not only do you have one of the largest uranium discoveries in Canada, but one very profitable, long life mine. You do the math. Additionally, Uracan is also well positioned in Saskatchewan outside the Athabasca Basin in an area where the mineralization is at surface/near surface. Historical grades on its Pipewrench Property located 130 km’s NW of La Ronge indicate grades several lbs per tonne over widths up to 60 feet. With Uranium prices set to rise even further, the economics of a lower grade deposit such as this start to come into clearer focus. Keep a close eye on this company as it marches forward with determination.