Uracan Resources

Malcolm Bucholtz B.Sc, MBA Analyst

Trading Note

The North Shore – Another Rossing in the Making?

Mention Uranium exploration to someone and the word Saskatchewan is sure to be uttered at some point in the conversation. But – there is a part of Canada that is poised to possibly eclipse Saskatchewan and its exploration feats. The North Shore of the St. Lawrence River in eastern Quebec is fast becoming recognized for its potential to host some serious deposits of lower grade uranium mineralization. In fact, people in the know are now starting to compare this North Shore area to the famed and fabled Rossing Deposit which has been the centerpiece of uranium mining in the African nation of Namibia. Excitement is building in Quebec and Uracan Resources is right in the thick of it.

SS The Double S Zone SS

The focus of Uracan's efforts over the past year has been its 1000 sq. km North Shore Uranium property and in particular the Double S Zone. A total of 51 drill holes (13,555 meters) were drilled up to the end of 2007 and the assay data from these holes has now been crunched to produce a 43-101 compliant inferred resource. At a cutoff grade of 0.009%, calculations show an inferred resource of 20 million pounds of uranium mineralization. Since the start of 2008, drilling has been ongoing and more mineralization has been found. A further 10,000 meters will be drilled as part of the Summer program which has now started. Once this data is factored into the mix later this year, I fully expect to see a further increase in the size of this resource. Read more »

VANCOUVER, July 7 /CNW/ - Uracan Resources Ltd. (the "Company") is pleased to announce a National Instrument 43-101 compliant inferred resource
calculation has been completed on the Double S zone, part of Uracan's 100% owned 1,000 Km(2) North Shore Uranium Property in Quebec.

This resource estimation, presented in Table 1 (see below) outlines the initial inferred resource contained in the Double S zone as defined by diamond drilling up to December 2007. 51 diamond drill holes totaling 13,555.7 meters were used to create the model used in the resource calculation.

Based on a cut off of 0.009% U3O8, 74,215,000 tonnes averaging 0.012% U3O8 containing approximately 9 million kilograms (19.97 million pounds) of U3O8 has been outlined. This resource falls into the inferred mineral resource
category under NI 43-101 reporting requirements.

Details of the new resource estimate are as follows: Read more »