QUEBEC – Vancouver-based Uracan Resources has filed an upgraded 43-101 report for the Double S zone at its North Shore uranium property 60 km east of the deep-water port at Havre St. Pierre. The zone has an indicated resource of 21.5 million tonnes grading 0.014% U3O8 with a 0.01% U3O8 cut-off. The inferred resource at the same cut-off is 60.0 million tonnes at 0.12% U3O8.
All the mineralization in the earlier estimate was in the inferred category.
Two other areas of inferred mineralization have been drilled at the North Shore project – the Middle zone (52.0 million tonnes at 0.12%) and the TJ zone (29.7 million tonnes at 0.011%). All three zones occur in the Lake Turgeon Intrusive Complex.
Uracan is targeting near surface, bulk tonnage mineralization that could be mined by open pit. The company believes the project has the potential to host a Rossing-style deposit (300.0 million tonnes grading 0.025% U3O8). The Rossing mine in Namibia is one of the world’s largest open pit uranium mines, and it is operated by Rio Tinto (69% owned).
More information about the North Shore project is posted at www.Uracan.ca.