TSX-V: URC
VANCOUVER,
March 1 /PRNewswire/ - Uracan
Resources Ltd. (the "Company") announces that, further to its
news release dated December 14, 2010,
it 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.
This drill program is designed to expand on
results from the fall 2010 drill program. Highlights from that
drilling program included 59.65 meters of 0.026% U3O8 (265ppm or
0.53 lbs/t) in CA4-10-22 and 11.5 meters of 0.053% U3O8
(532ppm or 1.06 lbs/t) in CC11-10-04.
The mineralized zones at Costebelle are
generally open in all directions as channel sampling was limited to
areas of existing outcrop exposure, with shallow overburden cover
overlaying large areas of the targeted airborne anomalies.
Uracan Resources Ltd. is a publicly-listed uranium
exploration company, exploring for shallow, bulk tonnage style
uranium mineralization in Canada. Uracan is led by a team of
proven exploration and mine entrepreneurs and mine-builders.
The information in this news release has been prepared and reviewed
by Marc Simpson, P. Geo., the
Company's Qualified Person under National Instrument 43-101
standards.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. The foregoing information may contain
forward-looking information relating to the future performance of
the Company. Forward looking information is subject to a
number of known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially from those
anticipated in our forward looking statements. Such risks and
other factors include, among others, the actual results of
exploration activities, changes in world commodity markets or
equity markets, the risks of the mining industry including,
without limitation, those associated with the environment, delays
in obtaining governmental approvals, permits or financing or in the
completion of development or construction activities, title
disputes, change in government and changes to regulations affecting
the mining industry, and other risks and uncertainties detailed
from time to time in the Company's filings with the Canadian
securities administrators (available at www.SEDAR.com
). Forward-looking statements are made based on various
assumptions and on management's beliefs, estimates and opinions on
the date the statements are made. Should one or more of these
risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in the forward-looking information contained
herein. The Company undertakes no obligation to update
forward-looking statements if these assumptions, beliefs, estimates
and opinions or other circumstances should change, except as
required by applicable law.
SOURCE URACAN RESOURCES LTD.