Titan Uranium Inc. commences Winter Drilling Program on Border Block Project
(via Thenewswire.ca)
Vancouver, British Columbia - Titan Uranium Inc. (“Titan“ or
the “Company“) (TSX-V:TUE, FSE:T4X) is pleased to announce
that the Company's 2012 drilling program is now underway on the Border
Block project. The Border Block project is the subject of a Letter of
Agreement between Titan and Japan Oil, Gas and Metals National
Corporation (JOGMEC) wherein JOGMEC can earn a 50% undivided interest
in the project by funding Cdn $6 million in exploration over four
years (see Titan press release November 12, 2008).
Aggressive Drilling Inc. has completed mobilization of the drilling
crew and equipment to the Border Block project site and the drill
campaign commenced February 13, 2012. The planned program consists of
approximately 1,500 metres of diamond drilling to test prospective
targets identified by recently completed Time Domain ElectroMagnetic
(TDEM) and D.C. Resistivity surveys. D.C. Resistivity is the
geophysical technique of choice in the Athabasca Basin due to its
ability to image hydrothermal alteration systems, which form
resistivity “chimneys“, often associated with fault zones
and unconformity-type uranium deposits. This program is designed to
test favourable high priority uranium targets at or near the
unconformity between the Athabasca sandstone rocks and the underlying
basement rocks in the H-Grid area, where weak to moderate
hematite-clay-chlorite-sericite alteration and anomalous uranium
values were encountered in 2 drill holes GL-10-05 and GL-10-06 (see
Titan press release June 17, 2010). In the H-Grid area, the depth to
the unconformity is expected to be approximately 175-200 metres.
The Border Block project is located in the southwest area of the
Athabasca Basin, near the Alberta border and comprises the Maybelle
River, Gartner Lake, King and Castle South Extension properties. The
project (72,387 hectares) covers an area where historic exploration
data identified favourable rocks capable of hosting uranium
mineralization. The basement rocks are thought to be correlative with
those found on the adjacent AREVA/UEX Corp.'s Shea Creek project which
hosts significant uranium mineralization in the Anne, Collette and
Kianna deposits.
Rodney Koch, P. Geo, Vice-President Exploration Canada for Titan, is
the qualified person responsible for the technical information
contained in this release.
About Titan Uranium Inc.
Titan has gained market recognition for its ability to attract
strategic partners to participate in the exploration of its
properties. Japan Oil, Gas and Metals National Corporation and Mega
Uranium Ltd. are partners in current exploration programs managed by
Titan.
ON BEHALF OF TITAN URANIUM INC.
Chris M. Healey, President
For further information, please contact:
Investor Relations
Phone: 604-925-1810
Facsimile: 604-921-1898
Email: ir@titanuranium.com
Web: www.titanuranium.com
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.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This
News Release includes certain “forward-looking statements“.
All statements other than statements of historical fact, included in
this release, including, without limitation, statements regarding
potential mineralization and reserves, exploration results, and future
plans and objectives of Titan Uranium, are forward-looking statements
that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from Titan Uranium's expectations
are exploration risks detailed herein and from time to time in the
filings made by Titan Uranium with securities regulators.
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