Shares of Vancouver-based Uracan Resources (TSX: V.URC, Stock Forum) moved 16% higher to 28 cents Wednesday, after the company reported remaining assay results from its winter 2009 diamond drill program on the Double S Zone within the North Shore property in Quebec.
Uracan says uranium mineralization on the property continues to occur, with drilled widths ranging from six meters to 44.9 meters. Uranium grades range from 110 parts per million to 161 ppm U3O8. Specifically, the company notes that up to 44.9 meters of 110 ppm U3O8 was noted in SS-09-86, which it says further confirms that uranium mineralization continues to the north of the main Double S resource area.
Uracan notes that the summer 2009 work program on the North Shore Property will start this month, focusing on Costebelle and the Double S trend.
On the company’s Bullboard Wednesday, metalslug offered the following opinion: “Great news again.. I absolutely love this uranium play. Management is top notch, they have got things done in the past (check their history!) and will get things done with URC in the near future. New drilling program on the way too, then another resource estimate.. gotta love it. Should do very well from here on[sic].”
