Uracan Discovers Additional Significant Uranium Mineralization

Uracan Resources (OTC Other: URCFF; TSX-V: URC) has discovered new areas of significant uranium mineralization on the Pontbriand and Costebelle claim groups of its 100% owned North Shore Property in Quebec.  This work was part of the summer 2011 exploration program, in the assessment of the airborne radiometric anomalies and lake sediment anomalies that had not previously been explored.  Highlights from the exploration program include:

• New mineralized zone (Joel zone) 2 kilometres southeast of A4 zone with up to 21 metres of 0.032% U3O8 (316ppm or 0.63 lbs/t) in surface channeling
• Extensive areas of uranium mineralization encountered on Pontbriand claims

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Uracan Upgrades Double S Resource Filed on Sedar

Uracan Resources (OTC Other: URCFF; TSX-V: URC) has filed an updated NI 43-101 compliant resource estimation report on the Double S Zone, located within Uracan’s 100% owned 1,000 Km² North Shore Uranium Property in Quebec on SEDAR, www.SEDAR.com.

The combined overall resource at the Double S, TJ and Middle Zones contains a total indicated resource of 21.5 million tonnes at an average grade of 0.014% U₃O₈ containing 3.11 million kilograms (6.86 million pounds) of U₃O₈ using a 0.010% cutoff, and a total inferred resource estimate of 140.65 million tonnes at a weighted average grade of 0.012% U₃O₈ containing 16.826 million kilograms (37.095 million pounds) of uranium using a 0.010% cut-off.

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Uracan Upgrades Double S Resource in Quebec

Uracan Resources Ltd. (TSX-V: URC and OTC Other: URCFF) announced an updated National Instrument (NI) 43-101 compliant indicated and inferred resource estimation for the Company’s Double S Zone, located within Uracan’s 100% owned 1,000 Km²North Shore Uranium Property in Quebec .

The previous resource estimation at the Double S Zone was entirely in the inferred category.  The updated Double S mineralized Zone hosts an indicated resource of 21.5 million tonnes at an average grade of 0.014% U₃O₈ containing 3.11 million kilograms (6.86 million pounds) of U₃O₈ and an inferred resource of 59.96 million tonnes at an average grade of 0.012% U₃O₈ containing 7.41 million kilograms (16.33 million pounds) of U₃O₈ using a 0.010% cutoff.

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Uracan’s Winter 2011 Exploration Outlined Significant Uranium Mineralization

Uracan Resources (OTC Other: URCFF; TSX-V: URC) focused its 2011 winter drill program on two areas of its 100% owned North Shore property in Quebec, the Costebelle A4 and the CC11 zones.  The 18 hole, 3,156 meter drill program was designed to expand upon the previous year’s success, highlights of which include:

• 10.5 meters of 0.048% U3O8 (483 ppm or 0.96 lbs/t) and 43.5 meters of 0.019% U3O8 (193 ppm or 0.38 lbs/t) in CA4-11-42;
• 17.6 meters of 0.025% U3O8 (252 ppm or 0.5 lbs/t) in CA4-11-38, 15 meters of 0.034% U3O8 (337 ppm or 0.68 lbs/t) in CA4-11-46; and
• 12.5 meters of 0.032% U3O8 (322 ppm or 0.64 lbs/t) in CC11-11-05.

The area with drill results received to date occurs along an approximately 600 meter length within an overall anomaly with a potential strike length of approximately 1,500 meters.  Mineralization is open along strike, with significant portions of the radiometric anomaly remaining to be tested by drilling.  Mineralization has been extended to approximately 200 meters down dip from the surface outcrop mineralization and remains open in most areas of the A4 zone.

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Uranium Companies, Hit by Market Drop, Defend Nuclear Industry

By Edward Welsch, Of DOW JONES NEWSWIRES

CALGARY -(Dow Jones)- Uranium company executives defended the nuclear-power industry’s growth plans Monday after overheating at nuclear reactors in Japan caused a rout in their share prices.

Most of the major uranium-miner stocks dropped more than 10% Monday as investors feared Japan’s reactor problems could endanger the world-wide “nuclear renaissance”–a resurgence in uranium commodities and stocks due to expectations of low future uranium supply and increasing demand from new reactors.

Jerry Grandey, chief executive of Cameco Corp. (CCJ), the world’s largest publicly owned uranium company, said Monday that the selloff in uranium shares was “largely driven by emotion.” He said that Cameco, which gets 18% to 20% of its revenue from Japan, didn’t expect any significant effect on its business now or in the future.

Even if the 11 reactors that were in the earthquake and tsunami zone were to defer part of their uranium purchases, Cameco would be “well within” its guidance for the year, he said.

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Good News for Uracan: Uranium Supply Shortage Looms for Nuclear Industry

Uracan Resources (OTC Other: URCFF; TSX-V: URC) is a Vancouver based mining company which is exploring and developing bulk tonnage, near-surface uranium deposits at its 100%-owned Quebec and Saskatchewan properties.  Uracan’s North Shore Property in Quebec covers more than 1,000 square kilometers, of which only 55 kilometers (~ 4%) have been explored, resulting in a 43-101 compliant resource of nearly 44 million pounds of U3O8 uranium.  The article below bodes well for the Company.

TORONTO (Reuters) - An expected surge in demand for uranium to fuel new reactors may go unfilled if new supply does not soon come on stream, meaning a setback for China, the United States and other countries that are increasingly relying on nuclear energy to power their economies.

While a host of uranium explorers promise to bring projects into production before a major supply crunch develops, most are overestimating their ability to deliver on schedule, industry experts say.

That could leave a vacuum for major uranium producers searching for acquisitions as the most efficient way to ramp up shipments to power utilities that use the radioactive metal to fuel reactors.

Uracan Begins Winter Drill Campaign

Uracan Resources (OTC Other: URCFF; TSX-V: URC) has commenced a 10,000 metre diamond drill program on the Costebelle claim group located on its 100% owned North Shore Property in Quebec.  This 2 drill exploration program will focus on two areas of the property; the Costebelle A4 and CC11 zones.  The CC11 zone represents a new discovery for 2010, emphasizing the potential for the North Shore Property to host additional significant uranium mineralization.  In addition, several other target areas will be drilled this winter to follow up results from the 2010 mapping and prospecting program.

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Massive Uranium Supply/Demand Gap Developing

LONDON - Speaking at the Objective Capital Americas’ Resources Investment Conference in London yesterday, Ian Hiscock from market analysis group CRU Strategies painted a very positive picture for the global uranium sector moving ahead.

Hiscock commented that the uranium price, like that of a number of other metal and mineral commodities, was becoming very much a China story – with that country consuming 17,000 tonnes in 2010 and with a huge nuclear power development programme ahead.

Uracan Resources Recommended in Dec/Jan Issue of the Gold Newsletter

Uracan Resouces Corp. (TSX-V: URC and OTC: URCFF) was recommended in the December/January by longstanding mining guru Brien Lundin. We have included a link below to the coverage and recommend everyone that is following the current uranium market to take a quick look at the profile.