Uravan Minerals Inc.
Uravan is a Calgary, Alberta-based uranium exploration company that utilizes applied research to develop innovative exploration technologies to identify buried uranium deposits in under-explored areas. Uravan's exploration focus in uranium is for potential high-grade unconformity-related uranium deposits in the Athabasca Basin in Canada. All of the Uravan's mineral properties are considered to be in the exploration stage of development.
The Athabasca Basin is the most prolific geological domain globally for hosting large high-grade uranium deposits, having ore grades from 2% to 20% U308. These uranium deposits account for about 20% of the world's primary uranium production.
Athabasca Basin Projects, Saskatchewan, Canada
(1) Outer Ring Uranium Project
Uravan is focusing its exploration efforts on its 100% owned Outer Ring project located within the Cable Bay structural corridor, east-central Athabasca Basin, Saskatchewan.
ORX Anomaly – A Drill Ready Uranium Target
ORX Drill Targeting
(2) Stewardson Lake Uranium Project
Uravan optioned its 100%-owned 21,349 hectare Stewardson Lake Project to Cameco Corporation in 2012. Cameco is earning an interest and funding work programs. Uravan is the operator.
(3) Halliday Lake Uranium Project
Technical Group and Directors
Larry Lahusen, B.Sc. Geol., Director, Chief Executive Officer
Mr. Lahusen has been active as an exploration geologist since 1969. His exploration focus has been in precious metals, base metals and uranium. Mr. Lahusen began his career exploring for uranium deposits in the Colorado Plateau region, USA. Later, as a district and an independent geologist, he directed and designed exploration programs that resulted in the discovery and subsequent development of the two uranium deposits located in the Lisbon Valley District, Utah. During the period from 1986-1997, he worked as the VP Exploration for several publicly traded junior exploration companies supervising gold exploration programs throughout western Canada. Mr. Lahusen has significant experience raising public and private venture capital for mineral exploration, has structured numerous joint venture deals and prospectus-level financing. Mr. Lahusen has been a public director of several resource companies for 20 years. In 1997 he formed Uravan Minerals Inc. With his specialized knowledge and experience in precious and base metals, Mr. Lahusen intends to make Uravan a leader in North American mineral exploration.
Dr. Kurt Kyser, PhD Chemistry, Director of Queen's Facility for Isotope Research (QFIR) – Uravan's Research Partner
Dr. Kyser is a specialist in isotope geochemistry. For the past four years, Dr. Kyser has been instrumental in directing the QFIR research team and Uravan's technical group in the development of new exploration technologies.
Dr. Colin E. Dunn, PhD, P.Geo, Consulting Geochemist – Uravan's Research Partner
Dr. Dunn is an independent specialist in exploration biogeochemistry. Over the last 11 years Dr. Dunn has worked collaboratively with Uravan's technical group designing and providing technical support on many biogeochemical programs on its exploration projects.
Dr. Steve R. Beyer, PhD, Consulting Geologist
Dr. Beyer has worked collaboratively with the Uravan technical group for the past eight years to provide exploration geochemical and basin evolution expertise.
Torrie Chartier, M.Sc. Geology, MBA, Director and Chief Financial Officer
Ms. Chartier has about 28 years of experience in the diamond exploration industry. From 1983 to present Ms. Chartier has worked as an independent consultant and diamond exploration specialist.
Paul Stacey, B.Sc. Geo., Data Manager
Mr. Stacey is a highly experienced GIS and IT specialist since early 1990s.
Paul C. Stewart, M.Sc, Geologist in Training (GIT), Project Geologist
Dr. Larry Hulbert, B.Sc. (Hons.), M.Sc. Geology, D.SC, P.Geo., Director
Phil Mudry, B.Sc Geology, P.Geo., Director
Paul Stacey, B.Sc (Hons.) Geography, Director
Eric Maag, B.Com, Director
On October 11, 2016, Uravan Minerals Inc. announced that it has completed the ORX anomaly drill program. On Sept. 29, 2016, Uravan Minerals Inc. commenced drilling on its 100-per-cent-owned Outer Ring property in the Athabasca basin of Saskatchewan. Drill hole OR16-008 was positioned to test the uranium-bearing potential at depth of the ORX surface geochemical anomaly (ORX anomaly)
On Oct. 8, 2016, OR16-008 was completed to a target depth of 935 metres. Larry Lahusen, chief executive officer of Uravan, states: "The results of drill hole OR16-008 were decidedly disappointing, and highlights the technical challenges for intersecting deep exploration uranium targets in the Athabasca basin, particularly with limited financial resources. Although the results of OR16-008 potentially appear to be connected to a number of false positives, I want to caution and emphasise that our technical team does not view this as a misstep related to our surface geochemical techniques, but on the contrary, a call to refine the geophysical systems implemented and further innovate our surface sampling protocols to better screen potential red herrings."
On September 29, 2016, Uravan Minerals Inc. announced that it has closed the private placement announced on Aug. 12, 2016, by issuing 1.12 million units. The units were issued at a price of 30 cents per unit for aggregate proceeds of $336,000.
Proceeds of the offering will be used by Uravan to finance its drilling and exploration activities on Uravan's 100-per-cent-owned Orx project in the Athabasca basin in Saskatchewan.
On September 19, 2016, Uravan Minerals Inc. announced that it will commence drilling on its 100-per-cent-owned Outer Ring property in the Athabasca basin in Saskatchewan. Drill-hole targeting will focus on the ORX anomaly. The ORX drill program is scheduled to commence on Sept. 27, 2016. The planned program consisted of three 900-metre diamond drill holes.
On August 15, 2016, Uravan Minerals Inc. announced that it intends to issue pursuant to a non-brokered private placement up to eight million units at a price of 30 cents per unit for aggregate gross proceeds of up to $2.4-million.
The proceeds of the offering are expected to be used to finance the completion of three 900-metre diamond drill holes (DDH) on Uravan's 100-per-cent-owned Outer Ring property in the Athabasca basin.