Uracan - BUYhttps://smallcapepicenter.com/09-09-09%20Uracan%20-%20Gold%20Newsletter.pdf
Uracan Resources (URC.V; C$0.23) made
news with the discovery of new, highergrade
uranium zones on its North Shore
property in Quebec. As part of the
company’s geological mapping program on
this extensive property, grab and channel
samples were collected in historic trenches
over the Grandroy and Turgeon Est areas,
which lie about seven kilometers north of
the Double S Zone.
The company has already outlined a
resource of about 40 million pounds at
Double S, with an average grade of 0.012%
U3O8, or about a quarter pound of uranium
per ton. So you can understand the
excitement when channel samples at the
Grandroy target returned up to 4 meters of
0.192% (3.84 lbs/ton) U3O8.
The company notes that it is continuing to
conduct channel sampling here to further
define mineralization in the historic trenches
that are currently over 140 meters in strike
length. While the Grandroy area has limited
outcrop exposure, however airborne
geophysical surveys indicate a potential
strike length of over a kilometer. The
Turgeon Est target is even more interesting,
as sampling returned up to 0.685% (13.7
lbs/ton) U3O8 and 0.303% (6.06 lbs/ton)
U3O8 in grab samples, along with 0.077%
(1.54 lbs/ton) U3O8 across one meter in
channel sampling. Again, limited outcrop
here makes determining the extend of the
mineralization impossible at this point.
Considering that Uracan has already defined
a very large, albeit lowgrade, uranium
resource, the news of this higher-grade
potential is highly encouraging. The
company remains a buy as this potential is
further explored.