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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Titan Uranium Inc. | TSXV:TUE | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
From Sep 2019 to Sep 2024
Titan has an option to earn up to an 85% interest in the Green River South project. The property comprises 582 mining claims, covering 11,989 acres/4850 ha, plus 5 state mining leases covering some 3,257 acres/1318 ha, in Utah's San Raphael mining district, approximately 90 miles from the Shootaring Canyon Mill. The property includes the historic Sahara Mine.
The program consisted of 12,560 feet (3830 metres) of drilling in 20 holes. The drilling contractor was Carroll Drilling of Moab, Utah and the logging contractor was Hawkins CBM Logging of Cody, WY. Equivalent uranium grades (eU3O8) were estimated by the logging contractor using industry standard equipment which was regularly calibrated in the US Department of Energy test pits in Grand Junction, CO.
Of the 15 holes drilled in the Ursa zone, 4 were deemed to be mineralized, 3 intercepted low grade uranium mineralization, 7 contained anomalous levels of uranium and one was barren , and. This new zone extends at least 2000 feet in a NW-SE direction and its width is currently undefined. The mineralization is located within sand horizons in the Jurassic Salt Wash formation. The five holes (GRS 1037-1041) drilled on targets outside of the Ursa zone, were not mineralized.
Grade-thickness (GT) thresholds of 0.03-0.10 ft% eU3O8 for anomalous uranium, 0.10-0.25 ft% for low grade mineralization, and greater than 0.25ft% for mineralized were applied. As a result of the discovery of this new mineralized zone, Titan has added 42 lode mining claims to fully cover the potential extensions of the zone. Detailed results from all drill holes are shown in the table below.
-------------------------------------------------------------------- Hole ID Total Depth (ft) thickness (ft) grade % eU3O8 GT ft% eU3O8 -------------------------------------------------------------------- GRS 1022 520 3 0.017 0.05 -------------------------------------------------------------------- GRS 1023 620 3 0.1 0.30 -------------------------------------------------------------------- GRS 1024 420 2 0.006 0.12 -------------------------------------------------------------------- GRS 1025 520 3.5 0.127 0.44 -------------------------------------------------------------------- GRS 1026 520 barren -------------------------------------------------------------------- GRS 1027 660 3 0.012 0.04 -------------------------------------------------------------------- GRS 1028 700 6 0.048 0.29 -------------------------------------------------------------------- GRS 1029 680 1.5 0.068 0.10 -------------------------------------------------------------------- GRS 1030 700 2 0.016 0.03 -------------------------------------------------------------------- GRS 1031 600 2 0.016 0.03 -------------------------------------------------------------------- GRS 1032 720 3 0.025 0.08 -------------------------------------------------------------------- GRS 1033 660 3 0.029 0.09 -------------------------------------------------------------------- GRS 1034 720 1.5 0.041 0.06 -------------------------------------------------------------------- GRS 1035 620 3 0.276 0.83 -------------------------------------------------------------------- GRS 1036 600 1.5 0.118 0.18 -------------------------------------------------------------------- GRS 1037 800 0.5 0.014 0.01 -------------------------------------------------------------------- GRS 1038 660 barren -------------------------------------------------------------------- GRS 1039 600 0.5 0.01 0.01 -------------------------------------------------------------------- GRS 1040 620 barren -------------------------------------------------------------------- GRS 1041 620 barren --------------------------------------------------------------------
Chris M. Healey, P. Geo, COO for Titan, is the qualified person responsible for the technical information contained in this release.
About Titan Uranium Inc.
Titan Uranium's vision is to be a leading mid-tier North-American uranium exploration, development and mining company. Our mission is to create shareholder value by advancing quality projects to production.
Our growth strategy is driven by three elements:
- Development: A pre-feasibility study has been launched at the Sheep Mountain Uranium Project, Wyoming. The deposit contains a NI 43-101 compliant inferred resource of 15.6M lbs. of U3O8 (4,560,000 tons at 0.17% eU3O8).
- Exploration: The goal is to discover world class uranium deposits by exploring over 1.5M acres of land in the proven Athabasca and prospective Thelon Basins. Exploration programs are also active in Utah and Wyoming.
- Consolidation: The Company is actively pursuing M & A opportunities and focused on uranium-friendly jurisdictions such as Saskatchewan and Wyoming.
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, Vale Exploration Canada Inc. and Mega Uranium Ltd. are partners in current exploration programs managed by Titan.
Titan is well-financed and ideally positioned to emerge as a pre-eminent player in the uranium industry.
ON BEHALF OF TITAN URANIUM INC.
Brian A. Reilly, President
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.
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.
Contacts: Titan Uranium Inc. Investor Relations 306-651-2405 or 604-925-1810 306-651-5105 (FAX) ir@titanuranium.com www.titanuranium.com
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